Good evening folks.

I pray God’s Blessing on you all tonight.

You’ve Got To Ask Yourself One Question. Do You Feel Lucky?

Down to business.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD has spent another day flatlined below the previous high at 1.1920.
This action is really hard to nail down into either wave count.
It looks like we are just holding in suspended animation now!

The simple fact that we are holding at a lower high does favor the alternate count now,
so do not be surprised if we see a drop into wave [c] beginning tomorrow;

Tomorrow;
If we don’t break 1.1920 tomorrow,
then I will probably switch to that alternate count.

Watch for 1.1814 to hold to stay with the main wave count.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable hit an exact double top at the session high today.
The minimum target for wave ‘v’ has now been met at 1.3312.
So I think we can begin to look for a reversal lower into wave (i) tomorrow.

The key level now lies at the previous fourth wave at 1.3106.
If we see an impulsive decline below this level,
then we are game on for wave (i) of [c] to begin.

Tomorrow;
Watch for wave (c) of [b] to top out very soon if it has not already done so at todays high.
1.3106 is the level to watch now.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

We now have a very deep retracement off the 105.67 high at wave (i).
The pattern of the decline is still in three waves,
and that does still favor a corrective retracement in wave (ii).
The decline reached below the 78.6% Fib level today,
so I really want to see a reversal begin up into wave (iii) now.

Tomorrow;
103.17 must hold.
Watch for wave (ii) to complete and wave ‘i’ of (iii) to rally back above 105.12 beginning tomorrow.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

You gotta admit that there very little of real value going on in the stock market right now.
All that is actually happening here,
is that we are deciding who the final bag holder will be where it all gets wiped out.
But I suppose that will not stop us from bidding to an even more extreme high in wave ‘5’.

The market is slipping this evening after a three wave rise to a lower high early today.
This could be a larger wave ‘ii’ pattern now tracing out.
And in that case,
wave ‘ii’ will drop into the lower trend channel line at about 29400,
before heading higher into wave ‘iii’ later on Friday.

Tomorrow;
Watch for wave ‘ii’ to complete above 28930 at the lower end.
A break of that level will invalidate this count.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has drifted lower over the last few sessions,
but the move is not yet impulsive by any means.
Wave (i) of [iii] is expected to move sharply lower and break 1850 to confirm the turn into the larger wave [iii].
Until that happens,
I can’t rule out a possible wave [ii] extension is underway.

Tomorrow;
A break of 1850 will clear up this confused action.
Watch for wave (i) of [iii] to break that level tomorrow.
the price must hold below 1896 at the current wave [ii] high.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude did manage to break the wave ‘a’ high at 42.33 today.
And the price has stopped short of the recent high at 43.27 at wave ‘2’.
So the bearish count is still in play this evening.

The price is falling this evening after creating a three wave lower high in wave (ii),
but we must now start to move lower in a sustained fashion to begin wave (iii) before the end of the session tomorrow.

If we get an impulsive move below 40.00 again that will signal wave (iii) is underway.

Tomorrow;
Watch for wave ‘2’ to hold at 43.27.
Wave ‘i’ of (iii) should carry us down towards 42.00 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is acting strange from the point of view of the main wave count.
Wave [ii] should be a straight forward three wave corrective affair.
But we have seen nothing but a sideways drift today.
This does play into the hands of the alternate count slightly.

If we dont see a decline into wave (c) of [ii] tomorrow,
that might be enough to push me towards the alternate count.

Tomorrow;
3510 is the level that this count rests on.
We should see wave (c) break that level to complete the pattern in wave [ii].

A move above the 3675 high again will trigger the alternate count for me.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

There is a good chance that wave [ii] completed as a running flat at todays high.
The pattern is not ideal in wave [ii],
but we have seen another small spike lower off the session high,
which may well begin the wave [iii] decline now.

Tomorrow;
watch for wave (i) of [iii] to push lower into that 23.55 support.
A break of that level will confirm wave [iii] has begun.

If this count is correct,
then we will see a sharp decline next week in wave (iii) of [iii] of ‘5’ of (C),
and this wave will likely bring very close to the eventual target in wave [2].