Good evening folks, the Lord’s Blessings to you all.

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EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

In general the story in EURUSD remains the same tonight.
The price continues to make its way lower with corrective lower highs along the way.
The price now sits at a new lower high tonight to begin wave ‘3’ of ‘i’ down.
and if this count is correct,
then wave should see an extension lower in wave ‘3’ of ‘i’ beginning tomorrow.
And a five wave decline should be in place in wave ‘i’ by the end of this week.

Tomorrow;
Watch for wave ‘2’ to hold at 1.0725.
Wave ‘3’ down must now turn lower.
A break of 1.0655 again will signal that this count is back on track again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am looking at a new interpretation for wave (i) and (ii) tonight after a larger correction higher today today.
Wave (i) has not made as much progress as expected,
but the decline into the low is still impulsive,
and so far the action off that wave (i) low is corrective looking.
The recent corrective shoulder at 1.2307 is a reasonable target for this wave (ii) pattern to hit.
and then I will look lower again into wave (iii) of [v] for the rest of this week.

Tomorrow;
Watch for wave (ii) to hit that target and then turn lower again.
A break of 1.2186 again will signal wave ‘i’ of (iii) is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I have switched to the alternate count for USDJPY tonight after a very slight new high in the pattern at 151.90.
this involves a possible ending diagonal pattern in wave (v) of [v].
And even with this new pattern I can only suggest that a top is very close now,
if the top is now in already.
The pattern should still develop lower into wave [a] of ‘4’ over the coming weeks.
And if the price falls back below the lower trend line of the ending diagonal wave (v) at 150.08,
that will be the initial signal that wave (a) blue has begun.
A break of the previous wave ‘iv’ low at 149.21 again should confirm it.

Tomorrow;
Watch for wave (v) of [v] to top about again early this week.
The first level to watch from here is 150.08 again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW is again scraping out a new high today to complete wave ‘v’ of (c) of [ii].
I can see a possible five wave pattern off the wave ‘iv’ low now,
so the market is close to completing a five wave pattern overall in wave (v) blue.
Again,
I have only one goal this week,
That is to pinpoint the turn lower into wave (i) of [iii].
and at this point the recent rally is looking quite tired,
and upside momentum has turned lower already.
WE are close to a turn lower alright,
but I am looking for an impulsive decline to begin wave (i).
It remains to be seen if the market will do just that off the top of wave [ii].

Tomorrow;
The rally in wave [ii] has done more than enough now.
The high of the session is hitting the 62% retracement level,
along with all the other signals that the rally is closing out here.
Its time to look lower again into wave (i).
Watch for a drop back below 33800 to begin wave (i) of [iii].

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has turned higher today in line with a possible wave (b) corrective rally this week.
Wave (a) is now complete at todays lows at 1931.
And wave (b) should trace out three waves up towards that 1980 area again to complete the correction.
It should take up most of the weeks action to get this correction finished,
so wave (c) may have to wait until next week.

Tomorrow;
Watch for a three wave rise in wave (b) over the next few days.
That spike higher off the lows is part of wave ‘a’ of (b).
and I am looking for three waves up to complete in wave ‘a’ near 1959 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has continued higher today in a corrective fashion.
But I do think the overall pattern off the low is in three waves even now.
This rally is still regarded as wave ‘iv’ of (iii).
and I am still expecting another turn lower into wave ‘v’ of (iii) according to the pattern.
This rally in wave ‘iv’ must not break the wave ‘i’ low at 80.11.
If that happens I will be forced to rethink the larger wave count in wave (iii) of [iii].

Tomorrow;
Watch for this wave ‘iv’ rally to top out and reverse into wave ‘i’ of (iii).
A break below 76.25 again will signal wave ‘v’ is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

A very slight new high in wave [ii] tonight for the S&P also.
The market is almost holding flat on Fridays close this evening though,
so I can say that the upside momentum is dying off significantly here also.
There is no sign yet of a turn lower into wave (i) of [iii].
Although that move lower is my main focus again this week.
The high this evening is sitting at the 62% retracement level of wave [i],
and the market is just about holding on above the previous fourth wave high.
Put all these things together and we have a market on the verge again.
Lets hope the turn down comes sooner than later.

Tomorrow;
Watch for wave (i) of [iii] to take over this week.
I am watching that previous wave (iii) low at 4199 as the left shoulder of an inverse head and shoulders pattern.
So wave (i) of [iii] should hit that level at a minimum over the next few days.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

If this pattern in silver is correct,
then this will be an exciting week ahead in this market.

The recent decline has traced out three waves down and hit the 62% retracement level now.
And todays trade has brought a nice impulsive looking rally off the lows.
I am suggesting that this rally is the beginning of wave ‘i’ of (iii).
And if this is correct,
then we should see a five wave rally this week to break above 23.00 again to begin wave (iii) of [i] of ‘3’.
This pattern is about as bullish as can be right here.
So if all goes to plan here,
this week should provide a bullish signal to setup for4 the larger rally into wave (iii) of [iii].

Tomorrow;
Watch for wave ‘i’ of (iii) to trace out five waves up to break 23.00 again in the next few days.
2188 must hold at wave (ii).