Good evening folks and the Lord’s blessings to you.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD has dropped below the wave ‘i’ lows at 1.0680 today which keeps this wave count on track.
The decline off the wave ‘ii’ high is in five waves,
so I have labelled this move as wave ‘1’ of ‘iii’ of (iii).
The count suggests more danger ahead for EURUSD as we should accelerate lower into a third of a third pattern.
And wave (iii) blue could easily reach below 1.0400 to complete.
One step at a time.

Tomorrow;
Watch for wave ‘1’ and ‘2’ to begin this next leg down.
Wave ‘3’ of ‘iii’ should extend lower as shown.
And five waves down in wave ‘iii’ pink would break the 1.0500 handle at least.

Wave ‘ii’ must hold at 1.0824.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The potential in cable here is quite similar to EURUSD with a possible third of a third decline in play here.
Wave ‘iii’ pink should trace out five waves down,
with a target below 1.2700 to complete.

the decline has not yet broken the wave ‘i’ lows at 1.2834,
so the count for wave ‘iii’ is not yet confirmed.
this should happen pretty soon if the pattern is correct.

Tomorrow;
Watch for wave ‘ii’ to hold at 1.3008.
Wave ‘iii’ must continue lower in a five wave pattern.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has turned higher in line with the wave ‘iii’ of (v) idea.
This pattern calls for wave (v) blue to trace out five waves up over the coming week.
and we should see a top back above 158.00 when its over.

The price must break above 154.70 to confirm the rally in wave ‘iii’ of (v).
so that is the first step this week.

Tomorrow.
the price must hold above 152.15 at wave ‘ii’.
Watch for wave ‘iii’ to continue higher and break above 154.70 at the wave ‘b’ high to confirm the pattern.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

If I am going to stick with this wave count for wave [v] green,
then if follows as obvious to the naked eye that we have a five wave pattern in place for that wave.
The market has now reached above the upper line in a throw over.
And wave (v) is closing in on an equality relationship with wave (v) today.
wave (v) has broken above the 78.6% Fib of wave (i).
so we are in the ball park now.

Tomorrow;
The throw over above the trend line suggests wave (v) is quite advanced even now.
So lets see if this week can put an end to the pattern.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has traced out five waves down off the top of wave ‘3’ now.
And the pattern suggests we are close to a low in either wave (i),
or the alternate wave (a) now.

the price will find a low soon to complete wave (i).
and then I will look for wave (ii) to turn higher in three waves as shown.

the price is close to hitting the previous wave (iv) low at 2604 now,
so a break of that level will probably be enough to close out wave (i).

Tomorrow;
Watch for wave ‘v’ of (i) to break support at 2604 and then wave (ii) can begin.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Quite a sharp move lower today which actually brings us back to the 68.00 handle again.
the price shows three waves down off the top so far,
and I want to see a five wave pattern in wave [i] green.
If the price breaks 66.60 again at wave [b],
that will give this larger pattern a boos in wave ‘3’ blue.

so far so good here,
Wave [i] should complete before the end of this week and then I will look for wave [ii] to begin.

Tomorrow;
Watch for wave [i] of ‘3’ to complete five waves down with a break of 66.60.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P tagged the upper trend line today in wave (v) of [v].
The rally in wave (v) was close to hitting the 62% of wave (i) at the session highs,
but the price is retreating this evening as I write.

I can only point out the obvious here in this market also!
so I suspect you may get annoyed with me as this week goes on.
This market has not offered a proper impulsive looking decline since the summer,
and now we stand at new all time highs which completely wiped out all traces of that decline.

The five wave pattern into the current highs suggest we are close to another test of this pattern.
But I can only wait and see.

Tomorrow;
The more the price moves off the highs at the upper trend line,
the more likely we have a chance of an impulse wave down again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Take a look at the 4hr chart first tonight.
this is the main alternate count showing a turn into wave ‘C’ of [2] beginning now.

You can see how close we are to breaking the bullish count now.
The previous support low lies at 30.11,
and if that level breaks,
that will be a big vote in favor of this alternate count.

And if that alternate count is correct,
then the target for wave ‘C’ of [2] lies all the way down at 17.00 again.
I know that seems impossible here,
but the pattern is calling for it,
so I think it is worth keeping an eye on.

Tomorrow;
Watch for wave ‘ii’ to hold at 30.11.
If that breaks,
then my focus will turn to the alternate count.