Good evening to one and all, and God bless you all.

First let me apologies about last night.
The website went down on Sunday night while I was sleeping!
I worked on it yesterday but could not get anywhere,
so I left it to the hosting provider to figure it out and they got it sorted last night.

Thanks you all for your patience,
and without further adieu,
lets get into it.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We got a pretty tight lower high today as EURUSD rallied back off yesterdays selloff.
That lower high can be viewed as a second wave as shown.
the decline off wave (ii) today is a signal of the beginning of wave (iii).

Tomorrow;
We really can’t get excited about this until we see at least a break of the wave (iv) low at 1.2056.
So wave (iii) must break that level tomorrow.

A break of the wave (i) low at 1.2129 will strengthen the case for a turn here.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable finally took a sharp move lower off the high at 1.3622 on Monday.
This move is labelled wave (a) down which reached 1.3186.
The rally off that low is viewed as part of wave (b).
With wave ‘a’ and ‘b’ complete and wave ‘c’ left to complete a three wave corrective rally in wave (ii).
Wave ‘c’ must break 1.3500 at a minimum.

Tomorrow;
Watch for wave (ii) to complete with a break of 1.3500.
Wave (ii) must hold below 1.3622 and then reverse lower again into wave (iii) of [a].

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY moved off the lows of last weeks selloff so far this week.
If this is an impulsive rally in wave (i) and (ii).
Then I suspect we will see another drop in wave ‘c’ of (ii) tomorrow to create a corrective higher low.
Wave ‘c’ should break 103.28 and then hold above 102.87.

This is a tall order now I know,
but the USD is general so beaten down these days that I know we are close to a very sizeable rally.
So I will continue to look for the beginning of that move with every reasonable higher low.

Tomorrow;
Watch for wave (ii) to complete with a break of 103.28.
Wave (iii) will be confirmed with a break of 103.88.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Monday got off to a bang with a nice sharp move lower out of the ending diagonal pattern in weave [v].
This move does put an end to the previous pattern and marks the high of wave [v] now complete.
The next question is this.
Have we turned the corner here into an impulsive decline to begin the next leg of this depression?

That remains to be seen at this point.
But I am treating the initial decline as wave (i) of a larger five wave decline.
The rebound off the initial drop in wave (i) was retraced with a similarly aggressive move in wave (ii).

At this point we must see another drop into wave (iii) tomorrow to validate the short term bearish count.
And it is a close call this evening.

Tomorrow;
Watch for the all time high to hold again at the wave [v] top.
I do want to see another impulsive decline begin in wave (iii) tomorrow.
Wave (iii) should push below 29000 in five waves from here.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is falling in a stepped fashion today off a small lower high below the recent wave (b) top.
I have labelled the initial move off wave (b) as ‘i’ and ‘ii’ to the downside.
This pattern suggests wave ‘iii’ of (c) is now underway.
Wave ‘iii’ should carry the price down towards 1819 again as it accelerates lower.
Wave (c) must break that 1819 low at a minimum to complete an expanded flat wave [ii].

Tomorrow;
Watch for wave ‘ii’ to hold at 1885.
Wave ‘iii’ down will be confirmed with a break of 1854.

If the price holds above 1819 over the next week,
that will favor the more bullish alternate count.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude made its first move lower in a nice sharp fashion this week also.
This action can still be viewed as a developing (i) (ii) wave to the downside as shown.
And in that case wave ‘c’ of (ii) is likely to create a larger lower high above 48.00,
before them turning down into wave (iii).

If the price falls back below 4630 again tomorrow,
that will favor the idea that wave (iii) is already underway.

Tomorrow;
Watch for wave ‘c’ of (ii) to complete at about 48.00 again before the end of the session.
A drop below the 46 handle again will favor the larger bearish count,
and signal that we have another major top in place.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P also has that pretty sharp drop out of the rising channel yesterday.
So far the price is holding at a lower high,
and with that action is the possibility that we have a (i), (ii) pattern completing off the recent top.
The rapid and deep retracement does raise doubt on the bearish pattern.
But the fact remains that we are looking for action to signal a top is in place.
And Mondays decline sure is a good indication of weakness at the top.

So I will give this action the benefit of the doubt for as long as it has the right look!

If the price rolls over again tomorrow with a push below 3600,
that will signal wave (iii) is underway.

Tomorrow;
Watch for another lower high to develop to begin wave (iii) down.

It is interesting to note that the darling stock of the last few years, tesla,
gets included into the index on the day the index falls sharply off an all time high.

Is this one of those glaring contrarian moments that so often mark the top of a trend,
when the symbiosis of two clear bubbles joining together,
the bubble stock of the decade + the bubble index,
marks the beginning of a crash!

How poetic that would be eh!

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver too a beating on Monday also!
And the possibility of a 1,2 pattern to begin wave (c) is now in play.
If wave ‘2’ is complete at todays high,
then wave ‘3’ of (C) is underway with the further drop off wave ‘2’.
Wave ‘3’ of (C) should push back below 23.00 again over the coming sessions.
And a break below 23.57 will confirm wave ‘3’ is in force.

Tomorrow;
Watch for wave [i] and [ii] to create a further lower high off the wave ‘2’ high.
Wave [iii] of ‘3’ will cause an acceleration lower to make up mush of the distance required in wave ‘3’.

Wave ‘2’ must continue to hold tomorrow.