Good evening again, what a day its been!

may the Lord bless you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Taking a look at the action over the last few days its easy to see we are in corrective mode for sure.
I can now suggest a possible triangle for wave (b).
there may be a little more contraction left to complete the triangle,
but as long as the price holds above the 1.1235 low,
then this is a real option here.

Tomorrow;
the outlook remains the same here,
a rally in wave (c) is left to come which will take us higher into about 1.1600 over the coming week.

Watch for wave (b) to complete that triangle above 1.1235.
a break above 1.1382 will confirm wave (c) is underway.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is moving higher off the session lows today also.
there is a good chance that wave ‘b’ pink is forming a triangle here also.
The price is continuing the corrective action of late,
and another sideways day will complete wave ‘b’.
That should lead to a rally into wave ‘c’ of (a) and a break above 1.3400 at a minimum.

Tomorrow;
the price must hold above 1.3194.
A break above 1.33 again will be a signal that wave ‘c’ is starting.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am looking at the larger version of wave [i] and [ii] tonight.
the price has rallied far enough to rule out the previous count.
Now I am showing a three wave flat correction higher in wave [ii].
Todays rally is viewed as wave (c) of [ii].
And this wave should complete with a break of 113.80.
This will fill the channel and setup for a reversal down into wave [iii] to begin this week.

Tomorrow;
Watch for wave (c) of [ii] to hit that upper trend line at 113.80.
A sharp decline off that level will signal wave [ii] is done.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

So now the rally is in off last weeks declines,
and so far the rally is taking a three wave form and is labelled (a),(b),(c) of [ii].

Wave [ii] is taking the form of a 3,3,5 flat correction now also.
Wave (c) is tracing out a five wave pattern to complete the correction.

Todays rally has pushed into the 50% retracement level at todays highs.
I have labelled todays rally as wave ‘iii’ of (c),
so the pattern can run higher to complete ‘iv’ and ‘v’ tomorrow.
It looks like the price is cooling off now as we hit the close of the session,
I suspect this is wave ‘iv’ underway.

Tomorrow;
watch for wave ‘iv’ to complete above 35000.
We should complete wave (c) and wave [ii] by Wednesday evening at the latest.
A break of the wave ‘i’ high at 34835 will signal a possible reversal into wave (i) of [iii].

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

There is very little to add to the pattern in wave ‘C’ today.

I am going ahead with this bullish triangle scenario as shown on the 4hr count.
So it is likely that gold will continue to range between 1750 and 1850 for the rest of this month if this count is correct.

The hourly count shows wave (iii) of [c] as underway now,
and we should see further declines this week towards 1720 to complete wave ‘C’.

Tomorrow;
Wave ‘ii’ must complete below 1808,
and wave ‘iii’ of (iii) will be confirmed with a break of 1758.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The action off the wave ‘3’ low is tracing out a three wave correction higher as suspected.
Todays rally is beginning wave [c] of ‘4’.
and wave [c] should trace out a five wave pattern ideally.

The minimum expected high for wave [c] has already been met with a break above the wave [a] high at 69.00.

If this count is correct,
we will see a five wave pattern complete on Wednesday close to 72.00 again.
This level marks the wave (iv) high formed early last week.

Tomorrow;
The wave [b] low at 65.50 should hold.
Watch for wave [c] to continue higher in five waves.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

There is nothing ideal about the pattern in the S&P at the moment.
But as long as the market continues to build a series of lower highs as it is doing,
then I can stick with the bearish outlook for now.

The price did rally above Fridays high this evening,
but that action does not rule out the idea for a wave ‘ii’ corrective rally.
Wave ‘ii’ is simply tracing out a larger pattern and most likely we have a complex flat on our hands here.

If wave ‘ii’ is complete at todays highs,
then we can look for an impulsive decline tomorrow to begin wave ‘iii’ of (iii) down.

Tomorrow;
wave ‘ii’ must hold below the wave (ii) high at 4653.
A decline below 4494 again will suggest wave ‘iii’ of (iii) is underway.

The real test now is this;
we are moving into a third of a third decline,
so this decline must accelerate lower and extend the wave pattern.
With a possible target area in the area of 4350.

If a major decline like that does not happen this week,
then I will have to revisit my assumptions of a bear market beginning here.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Wave (i) up is still a viable option after todays action.
The margin for error is tight here,
but as long as the price holds above 22.02 at the wave ‘v’ low,
then the reversal pattern is in play.

The invalidation level for this bullish count lies at 21.40,
so that level simply must hold to stick with a bullish outlook in the short term.

Tomorrow;
Wave ‘iii’ of (i) must push higher and break above 23.00 again to take this bullish count out of the danger zone.