Good evening to you all, and may the Lord bless you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A month of sideways action is hard to account for every day!
And each day the sideways grind continues,
is another day that I scratch my head wondering what in the world is going on here!
Well,
the price is higher today which is favorable to the wave (c) idea,
but without a break of that 1.3161 high at wave ‘i’ I’m afraid we can’t confirm anything yet.

Tomorrow;
Watch for wave ‘iii’ to continue to push higher and out above the wave ‘i’ high.
Five waves up in wave (c) should continue into next week.

GBPUSD

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GBPUSD daily.

The action in cable is a little more inline with the count today.
The price has retraced all of the early decline on Monday now,
and wave (c) is moving towards a five wave pattern at last.
Todays rally is viewed as wave ‘iii’ of (c).
So there should be a little more upside left in wave (c).

Tomorrow;
Watch for wave ‘iii’ of (c) to break above 1.3376 at a minimum.

USDJPY.

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USDJPY 4hr.

USDJPY daily.

Another day and another trend channel filled in this wave [ii] correction!
The price has now reached the upper trend line four times in this pattern,
I think that may be a record!
I think one thing is pretty clear at this point,
this is a correction higher,
and the price will return lower in an impulsive manner into wave [iii] over the coming weeks.

Tomorrow;
Watch for wave (c) to close out and then return lower into wave (i) of [iii] before the week is done.

DOW JONES.

DOW 1hr.

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DOW daily.

No major change in the Dow today.
Volume seems to be leaving the market now as the wind down for Christmas is in,
and wave (ii) reaches that lower high completion.

So wave (iii) really is needed now to turn the tide here again.
As long as the market refuses to break the wave [ii] high,
then this bearish wave count is valid.

Tomorrow;
Wave (iii) will require a large drop to begin.
Watch for wave ‘i’ of (iii) fall back below 35000 again to kick off the decline into wave (iii) of [iii].

GOLD

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GOLD daily.

Gold has refused to fall into wave [c] this week also.
The price is still possibly creating a lower high in wave (ii),
this evenings high has reached the trend channel again this evening.
so I would like to see wave (iii) down begin tomorrow and fall back below 1750 to complete.

Tomorrow;
The high at wave [b] must hold at 1814.
Wave (iii) down is expected to reverse lower tomorrow to begin the final big leg down in gold for at least a few months as this triangle completes wave (4).

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Wave [iii] has pushed higher again today and that brings the larger wave ‘C’ one step closer to completion.
Five waves up is now in sight for wave ‘C’.
So it looks very likely that the 62% retracement will be reached at 75.50 again.

Tomorrow;
Watch for wave [iii] to break above 73.14 and then correct sideways in wave [iv].

S&P 500.

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S&P 500 4hr

S&P 500 daily.

No sign of a reversal into wave ‘iii’ yet.
The price is holding that lower high so far this week in wave ‘ii’,
but after coming so close to hitting the wave ‘iv’ low at 4494 this week it is frustrating to see the market rally back towards the all time highs again.
At this point I can only wait and see how this unfolds.
I know that the conditions still exist to allow for a trap door moment into wave ‘iii’.
We will see.

Tomorrow;
The highs must hold obviously.
I can only hope that a reversal begins into a third wave down tomorrow.
It is unlikely we get a big reversal given the weak volume now,
but a start would be good.

SILVER.

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SILVER 4hr.

SILVER daily.

Silver has pushed up above 22.68 again today and that is inline with the count for a third wave rally.
The expected acceleration into wave ‘iii’ has not appeared yet though,
so I am still a little skeptical here to be honest.
On the plus side for the bullish count,
every cent higher the price goes,
the less likely that the alternate count is.

Tomorrow;
Wave ‘iii’ must continue higher and break above 23.00 with ease.