Good evening all you fine people.

And may the Blessings of the Lord of Hosts be with you all tonight.

Here is a short video I recorded earlier today to go over the short term patterns in a couple of markets.

On with the show.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I am not convinced that todays rally is the beginning of wave (v).
The pattern looks move like an extended wave ‘b’.
With wave ‘c’ now underway off the high.
This might chance early tomorrow if we see another spike,
If the price breaks above 1.2176 again that will signal wave (v) is underway.

but for now I am looking at a new low for wave ‘c’ at the lower trend line at 1.2040 or there about.

Tomorrow;
Watch for wave (iv) to compelte with a drop in wave ‘c’.
Then I will look for wave ‘v’ to rally early next week to complete the larger pattern.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is lower again today and I am looking at the possibility that this decline is the beginning of wave ‘iii’ down.
The price has not broken the confirmation level at 1.3224 yet,
but we should see wave ‘iii’ break that level easily with an acceleration lower by tomorrow evening.
If the top is in for cable here,
then wave (i) down will trace out five waves down by the middle of next week.

Tomorrow;
Watch for wave ‘iii’ to continue lower again and then hold below 1.3224 as wave (i) complete next week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Waiting for USDJPY to rally is like waiting for the bus on a wet cold winters night.
Just like tonight in fact!

I am holding judgement on this pattern now,
as the price looks like it may fall to test the rising trend line again overnight.

If that happens,
then I will be forced to rethink the whole pattern into the recent lows at 103.17.

Tomorrow;
I will just have to wait for the market to clear up the mess before moving forwards here again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has again held within the rising wedge pattern today.
The price has fallen into the lower trend line.
I am calling wave (iv) pretty much complete now and we should see another three wave rise into wave (v) beginning tomorrow.
That will complete the ending diagonal pattern,
and then things will get really interesting I think!

Tomorrow;
Watch for wave (iv) to find a low very soon.
Wave (v) should push up into 30400 to complete the pattern.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

We now have a three wave rise complete into the session high today.
I have labelled this lower high wave (b) of [ii],
this pattern now calls for another drop into wave (c) of [ii] over the coming days.
And at that point we will have a three wave correction in place and a bullish higher low at wave [ii].

Tomorrow;
Watch for wave (c) of [ii] to drop below 1820 again.
1806 marks the 62% retracement level of wave [i].

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has pushed out above the corrective pattern today in wave (v) of [v].
This action confirms the recent sideways move as either a triangle or a complex combination wave.
Either way,
wave (v) has pushed to a new high and that brings us one step closer to completing this rally in wave ‘C’.

Tomorrow;
Watch for wave (v) to complete and then reverse back below 44.00 over the coming days in wave (i) down.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has created another three wave corrective pattern into todays lows.
This is now labelled as an expanded flat correction in wave (iv).
With wave (v) left to come out way tomorrow.
This again should trace out three waves up and complete at the 3722 target area.

There is an argument to be made that last nights high was the final top of this diagonal,
but I am erring on the side of caution here with this count.
Although,
If the market dumps tomorrow and breaks 3594 at the wave (ii) low,
then I will switch to that alternate view.

Tomorrow;
watch for wave (v) of [v] to push higher into the target at 3722.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Todays trade inched higher in three waves to create a lower high in wave (b) at 24.28.
The price fell pretty sharply off that high also,
so wave (c) may well be underway this evening.
Wave (c) should continue lower in five waves to hit 23.50 at a minimum.
With the 62% retracement of wave [i] at 23.00.
In that range we should find a low for wave (c) of [ii] in the next few sessions.

Tomorrow;
Watch for wave (b) to hold at 24.28.
Wave (c) down should continue below 23.50.