Good evening to one and all,

God’s Blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD has bounced today after a small break below the blue trend channel line.
This low is labelled wave (iii) of [v].
Wave (iv) should now travel higher in three waves towards 1.1460 again.
Todays spike off the low is wave ‘a’ of (iv) and it should complete ivernight.
So we are left with waves ‘b’ and ‘c’ of (iv) to compelte this week.

Tomorrow;
Watch for wave ‘a’ to complete three waves up and then a higher low should form in wave ‘b’ by tomorrow evening.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is moving higher also today off that wave (b) higher low formed overnight.
The price should continue higher tomorrow in a five wave pattern to complete wave (c) of (iv).
The target for wave (c) is set at 1.3600,
but that level is only a suggestion not a rule.
The price has actually broken above the wave (a) high already,
So we have reached the minimum target.
Everything from here is a bonus!

Tomorrow;
watch for wave (c) to continue higher and find resistance at the previous fourth wave high at 1.3600.
A break below 1.3350 again will signal wave [ii] is complete and wave [iii] is beginning.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Well that was quite a turn around today in USDJPY!
The size and impulsive nature of this decline today is a real heavy hint that the top is now in for wave (v) of [c].
The minimum target was met by breaking 114.70 at the wave (iii) high,
And wave (v) can be viewed as a five wave pattern into that high also.

So there is every chance that we are witnessing the beginning of wave ‘C’ down.
And if that is the case,
then wave [i] of ‘C’ should break below 112.70 again in five waves.
The target for wave ‘C’ lies at the wave ‘A’ low of 107.40.
This could be quite the decline over the next few weeks.

Tomorrow;
Watch for wave (i) and (ii) to form a corrective lower high below 114.97 at the recent high.
Wave (iii) of [i] will wait until next week I suspect,
and that wave should break 112.70.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

This evening I am opening up the range of possibilities to include a top in place at last weeks highs!
This option will stay the alternate count for the moment
until we work through this wave (iv) correction and completely rule it out.

This evening I am looking at a larger count for wave (iv) as the market has come very close to breaking the previous lows.
Overall I am allowing for a three wave correction towards 35700 to complete wave ‘c’ of (iv),
and then I will look at wave (v) beginning from there.

As for the alternate count,
If we see a sharp acceleration lower and a break of 35000 again,
that will shift the pattern into an impulsive decline off the top rather than a correction as shown.

Tomorrow;
Watch for wave ‘c’ of (iv) to fall into 35700 again to complete three wave s down in wave (iv).

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has two equally viable short term counts this evening.
The idea of a decline in wave ‘ii’ is still most likely as I see it.
We have a lower high this evening,
and this can easily be the first step lower in wave ‘c’ of ‘ii’.
The target for wave ‘ii’ is in the area of 1830 again.
A break of 1849 will confirm this count.

The alternate count shows a complete wave ‘iv’ i place,
and wave ‘v’ of (iii) now underway.
A break of 1876 will confirm this count.

Tomorrow;
Watch for wave ‘ii’ to continue lower and complete in the area of 1830.
1876 must hold.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Todays decline below 77.70 does change things a little for crude.
this correction in wave ‘4’ has gone on longer than I had expected,
but for now I am still holding this idea that this is a correction in a fourth wave.
And we do need a final rally to complete a five wave pattern off the August lows.

Take a look at the 4hr chart.
The price action off the recent wave ‘3’ high is still moving within a trend channel.
We have a three wave pattern lower now filling the channel at this evenings lows.
This can be viewed as a complex correction.
And as long as the action remains corrective to the downside,
then I think we will find a significant low soon and move higher into wave ‘5’.

Tomorrow;
Watch for wave (c) of [c] to hit that lower trend line and then return higher into wave [i] of ‘5’ by Friday.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

As each day goes on and the market continues to hold onto the recent highs,
then the more likely it is that wave ‘v’ is still in force here.
Wave ‘1’ of ‘v’ can be called at Tuesdays high,
and now wave ‘2’ seems to be underway forming a corrective higher low.
Wave ‘2’ must hold above the wave ‘iv’ low at 4631 in order for this count to remain valid.
In general I am waiting for this five wave pattern higher in wave ‘v’ to complete before turning my focus to the downside again.

Tomorrow;
watch for wave ‘2’ of ‘v’ to bottom out tomorrow and then a rally into wave ‘3’ up should begin by Friday.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Todays action has cleared up the short term count a little.
As you can see I have changed wave ‘iv’ of (i) to a triangle,
and wave ‘v’ of (i) is now set at the 25.40 high.
The price should now fall in three waves as shown into wave (ii) by next week.
If wave ‘b’ is now complete at todays highs,
then wave ‘c’ should turn lower again tomorrow and I am looking at that area near the rising trend line again as a possible target for wave (ii).
This will bring the price down into 24.00 again to complete wave ‘c’ of (ii).

Tomorrow;
Watch for wave ‘c’ to fall in a five wave pattern over the next few sessions.