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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

another step lower today continues in line with the pattern for wave ‘b’.
this decline is wave ‘c’ of ‘b’ in an expanded flat form.
Wave ‘b’ has a minimum target at 1.0460 at the low of wave ‘a’.
and that requires the decline to continue tomorrow.

Tomorrow;
Watch for wave ‘c’ of ‘b’ to complete this correction with a break of 1.0460,
then I will look higher into wave ‘c’ for the final few session this week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am looking at the alternate count for cable tonight after an unfavorable trade today.
the price has failed to fall in line with the previous count for wave ‘b’ pink,
and now I am looking at the possibility that wave ‘c’ is already underway here.
Wave ‘5’ of ‘c’ should complete this pattern with a break of 1.2810,
and then we should see turn lower to begin wave (v) down.

Tomorrow;
Watch for wave ‘c’ of (iv) to complete three waves up with a break of 1.2810 and then we can look for a turn lower to begin.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Three waves up is all but complete here in wave (iv) of [i] this evening.
and now I am looking at a possible decline into wave (v) of [i] to complete five waves down overall.

The price met the upper trend channel line today in wave ‘c’,
and as I write there is a small drop off the session high as we hit the close.
This may be the beginning of wave ‘i’ of (v) down.
and wave (v) should break the recent low at 148.65 again.

Tomorrow;
Watch for wave ‘i’ of (v) to turn lower and hit the 150.00 area again.
If that happens,
then we should see the larger decline take hold in wave (v) blue.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

We the most I can say here is that the market has finally moved out of its sideways range today.
The price is now back below the previous wave ‘a’ high at 44500.
and we will now see if there is any substance to this move off the high.

I am always looking at the previous support low to indicate a reversal,
and the market has failed to break those lows since 2023.
That is a long haul without any questions asked of the rally.
I will be waiting here patiently until that happens.

I have an image in my head as a skeleton sitting in front of my computer and the market has still not broken.
Hopefully it wont come to that!

Tomorrow;
the last decline proved corrective,
so there is more pressure on this move to develop favorably.
Lets see how it goes.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I am rethinking the pattern in gold this evening because of the action today.
The previous high was labelled wave (b) of [a],
and now I think that can no longer be a valid option here.

Wave (b) is still in play here.
The price moved sideways all last week,
and this action is better viewed as corrective within wave (b) blue.
And I am tracking a three wave pattern higher into wave (b) which should happen this week.
Wave ‘b’ pink is not yet complete in this scenario.
A drop below 2600 will complete three waves down.
and then wave ‘c’ of (c) should turn higher again later this week as shown.

Tomorrow;
Watch for wave ‘c’ of ‘b’ to complete three waves down below 2600 and from there I can look up in wave ‘c’ again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil is working its way higher off the wave (b) lows,
but the rally into wave (c) has not established itself yet.
The price is holding the higher low above wave (b).
so it is likely that wave ‘ii’ is still playing out here.
A rally back above 69.00 again will signal wave ‘iii’ of (c) is underway.

Tomorrow;
Watch for wave ‘ii’ to hold above 67.00 and then turn higher into wave ‘iii’ before the end of the session tomorrow.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is still holding above the previous highs at wave (iii) even with the soft trade.
I am of course toying with the idea that the top is forming in wave (v) here.
but that will need much more downside to confirm the idea over the coming week.
for the moment it is enough to consider that wave ‘v’ of (v) has closed out.
So I would like to see further declines to close out the week to give that idea a boost.

Tomorrow;
Watch for wave ‘v’ to hold at the recent highs.
Lets see if the market will drop back below 6000 in an impulsive move tomorrow.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

A small lower high has formed today under the high at wave (ii).
I am jumping the gun here,
but I am calling this wave ‘1’ and ‘2’ to begin a five wave decline in wave ‘i’ pink.
I would like to see a break of the 30.00 level again in wave ‘i’ pink,
so there is some work to do here for wave ‘i’ to achieve that.

Tomorrow;
Watch for wave (ii) to hold at 32.26.
Wave ‘3’ of ‘i’ must continue lower to break 31.00 again.