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

What can we say about that then!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD completed a three wave corrective move in a clear channel at todays high.
The price has now turned lower again this evening.
this is a hint that wave ‘2’ is done and wave ‘3’ of ‘i’ is now underway.
If this pattern plays out here,
Then wave ‘i’ will fall in five waves into the previous lows of wave (iii) at the 1.0328 level.

Tomorrow;
Watch for wave ‘2’ to top out and then drop into wave ‘3’ down.
Wave ‘3’ should fall into the 1.0400 level to complete.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Three waves up in wave ‘b’ seems to be in place at todays highs.
The price has formed a lower high at wave ‘b’,
and now we should see a decline into wave ‘c’ of ‘b’ over the coming days.

I am suggesting a low for wave ‘b’ of (iv) at about 1.2575.
And from there wave ‘c’ should turn higher again if this pattern holds for wave (iv).

Tomorrow;
watch for wave ‘c’ of ‘b’ to drop and break the wave ‘a’ low at a minimum.
wave ‘c’ will fill the channel at about 1.2575.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY pushed higher today into the target area for wave ‘c’ to complete.
Wave ‘c’ reached above the minimum target at the wave ‘a’ high,
and then stopped mid range before hitting the previous wave ‘iv’ high.
The price has now turned with a spike lower and that action suggests that wave (iv) is down and wave (v) is underway.

Tomorrow;
Watch for wave (v) down to fall in five waves from here towards the 147.00 handle again.
That will complete five waves down and then next week we can look for a bounce into wave [ii] green.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

There is nothing to report this week from the action in the stock market.
The price is holding at a lower high this evening.
although the margin is slim.
The main takeaway here is that upside momentum has taken a nose dive this week.
and that has led to a turn lower in MACD that is just about to break negative again.
This comes off the back of a screaming overbought after the election in the U.S.
All I can say is that this condition will lead to a decline over the next week.
We will see if that turns out to be impulsive or not.

Tomorrow;
Watch for signs of an impulsive decline to begin by breaking down below the rising trend channel again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I am going back to the idea that wave ‘ii’ is complete after todays slow and corrective trade.
The action today looks more like a correction within wave ‘iii’,
than a correction in wave ‘ii’.
And so I am calling wave ‘iii’ down now underway.
With waves ‘1’ and ‘2’ of ‘iii’ compelte at todays lower high.
Wave ‘3’ of ‘iii’ should fall back towards 2570 to confirm this idea,
and then from there we can loo for a five wave pattern to complete in wave ‘iii’ pink as shown.

Tomorrow;
Watch for wave ‘3’ down to fall and break 2604 at wave ‘i’ to signal wave ‘iii’ is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude fell sharply today in line with the wave count.
Wave (ii) seems to be in place now,
and wave (iii) down is underway.

Todays decline is labelled as wave ‘i’ of (iii) and that should lead the way for a five wave de3cline in wave (iii) as shown.
Overall I am looking for a drop below 66.58 to confirm this larger pattern in wave [i] down.

Tomorrow;
Watch for wave ‘i’ and ‘ii’ to trace out a step lower to begin wave (iii) down.
A break below 66.58 again will confirm wave (iii).

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is about to close at another all time high tonight,
no questions asked,
automatic buying buy a hyper manic crowd is name of the game.
Although the marginal buy in here is getting very small which is shown by the momentum of the price.
I can point out technical signal after tech signal,
and by the way they all indicate an overvalued overhyped and overbought condition,
but I am the fool until a collapse happens!
And that is ‘the way things are’ as babe the pig once said!

Tomorrow;
This slow march to eek out new highs will not last.
But will we see a reaction lower off wave (v) of [v] this week?
I just can’t say!

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has reached into the initial price target today at the previous wave ‘iv’ high at 31.53.
The internal pattern can actually fit both the previous count and the main count,
so I am showing both.
Either way,
we are close to a high in wave (ii) now.
And we will see a turn lower into wave (iii) over the coming days.

Tomorrow;
Watch for a top to form in wave (ii) over the next few days.
A drop back below 30.00 again will signal wave ‘i’ of (iii) has begun.