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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD seems to have completed wave ‘a’ of (iv) this evening.
The price has traced out five waves up off the wave (iii) lows.
And so far this move can be viewed as wave ‘a’ of (iv).

Of course wave (iv) can get pretty complicated over the coming week and the wave count will have to change,
but for the moment,
I can stick with a three wave rise into wave (iv) as the main count.

Tomorrow;
Watch for wave (iv) to continue higher to hit in three waves over the coming days.
the minimum target lies at 1.0610 at the previous wave ‘iv’ high.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is moving higher with the very same pattern as EURUSD overall.
Wave (iv) blue should trace out three waves up this week.
And todays rally is labelled as wave ‘a’ of (iv) at the session high.

The price dropped off the highs into wave ‘b’,
Wave ‘b’ should hold above the wave (iii) lows at 1.2486,
and then wave ‘c’ is expected to complete the correction at the wave ‘iv’ highs at 1.2715 later this week.

Tomorrow;
Watch for wave (iv) to trace out three waves up in a corrective pattern as shown.
And the target lies at 1.2715.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am a little perplexed by the pattern in USDJPY over the last few days and todays action has not cleared anything up.
The pattern is calling for a drop off into wave (i) down.
But the price action is holding out quite well just below the recent highs without any major reversal into wave (i).

the longer this goes on,
then more likely that this is just a correction off the highs.

I am looking at a possible alternate count for wave (iv) blue this evening.
This would involve a triangle pattern in wave (iv) blue.
And in this scenario we will see a further rally out to a new high above 157.00 in wave (v) over the coming weeks.

Tomorrow;
The main count will be confirmed with a break of 151.00 again.
A break of 153.27 again tomorrow will signal wave ‘iii’ of (i) is in play.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

At this late stage in the year it looks like I may have to wait until the new year before any major break will occur.
the market is back at new highs again today for some bazaar reason or other.
I suspect the main reason is that misplaced optimism is still in full swing after the U.S election.
So be it I suppose.
The market has managed to kick the can for another month.

So the top remains an illusive dream at the moment,
Foolishly or not,
I remain on the hunt for it!

Tomorrow;
The pattern for wave [v] has now switched to the ending diagonal possibility which you can see on the 4hr chart.
The upper trend channel line has now been breached in wave (v) of [v].
So we will see if this week brings any reckoning.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

If we start on the 4hr chart tonight the overall pattern becomes visible.
Wave [a] down is well underway.
The price has now put in a lower high in wave (b) of [a].
And I am looking for a five wave decline in wave (c) of [c] over the coming week.

Todays decline is viewed as wave ‘i’ of (c) at the moment.
I want a clear five wave pattern into wave ‘i’ tomorrow,
followed by a correction higher into wave ‘ii’ tomorrow.
The price should form a lower high by midweek.
And then wave ‘iii’ of (c) will turn lower again by the end of the week.

A sharp decline into wave ‘iii’ will prove the larger pattern in wave [a],
so there is still a lot of work to be done here to confirm the wave count in gold.

Tomorrow;
Watch for wave ‘i’ and ‘ii’ to form a lower high as shown by midweek.
The wave (b) high must hold at 2721.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

There is a question in my mind over this wave ‘2’ top.
the price did turn lower today with an impulsive nature.
but I don’t like the lower high formed by wave [c] of ‘2’ last week.
IT is possible to call this a running flat correction in wave ‘2’ which will allow for this lower high.
But it remains to be seen if this count is correct.

Tomorrow;
A five wave drop from here to break the below 66.60 again will favor this count in wave [i] of ‘3’.
The price must continue lower this week in wave [i].
and wave ‘2’ must hold at 71.46.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Maybe it is an inevitability that we hit a new high this week,
but it has not happened yet.
Therefore,
the main count holds for a wave ‘ii’ lower high even if it is very unlikely!

I think I will refrain from making any predictions here until there is a proper break in either direction.
Obviously a break to a new high will invalidate this count.

Tomorrow;
Watch for the highs to hold and a drop back below the wave ‘i’ lows to signal a wave ‘iii’ possibility.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am expanding the count for wave (ii) blue even though the price did drop today.
I am suggesting that wave ‘b’ of (ii) is in play right now,
and then wave ‘c’ will turn higher towards 32.00 again starting tomorrow.
This larger pattern will be more in line with the relative size of wave (i) blue.
And once it completes later this week,
then I will look for a large decline in wave (iii).

tomorrow;
Watch for wave ‘b’ to hold above the wave (i) lows at 29.65.
Wave ‘c’ should break 31.53 at a minimum.