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

I can’t say much tonight that will further argue my thesis of a topping world, but this story today simply took my breath away.

GreenPro Doubles Overnight After $100 Million Bitcoin Investment.

Greenpro CEO CK Lee said, “We fully believe in $BTC as a store of value. I’ve instructed our investment bankers to raise debt in Q1, 2021 of up to US$100M to invest in $BTC. The Company will also invest its own cash into $BTC.”

Raising 100 million in debt, to buy a digital chimera. now there’s a fine example of fiduciary duty and due diligence in action!

This looks to me like a poetic last touch to a flaming mania, but thats just me!

and without further adieu,
lets get into it.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD seems to be contracting in range over the last few days.
This opens up the possibility of a triangle in the making.
If the price breaks out above todays high at 1.2249 again ,
that will classify this move as a correction within the larger up trend.
And I will have to look at a further top as per the alternate count on the 4hr chart.

Tomorrow;
For now the main count holds and I am still watching the low at 1.2129 as the signal level that wave (iii) has begun and the trend has finally turned.
Watch for a further decline tomorrow to begin wave (iii).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The sharp decline in cable last week was met with an equally sharp rally over the last few sessions.
The rally did not make a new high though,
and that rally is in three waves as shown.
So the rally counts as a corrective three wave rally in wave (b) or (ii) of [a].

Tomorrow;
The price is moving lower sharply this evening again,
so I am looking for wave ‘i’ and ‘ii’ to create a lower high tomorrow,
before an acceleration lower in wave ‘iii’ later in the week.

The high at 1.3622 must hold.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY moved higher again today after a corrective looking sideways move over the last few sessions.
I am looking at this high as the completing of wave ‘b’ of (ii) at todays highs.
If the price moves lower overnight again,
that will signal wave ‘c’ of (ii) is underway and that should complete above 102.87 again.

Tomorrow;
Watch for wave ‘c’ of (ii) to drop into 103.28 at a minimum and then turn higher into wave (iii).
A push above 104.00 from here will signal wave (iii) is already underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow again broke to a new high this afternoon which rules out the previous ending diagonal count for wave [v].
The strange thing is,
the wave structure has probably simplified after this new high in terms of the final move into wave [v] green.

The endless grind into that previous high is now best viewed as wave (b) of [iv].
Wave (c) dropped off that high impulsively to complete an expanded flat correction in wave [iv].

The rally off the wave [iv] low is now tracing out a standard five wave move as labelled on the short term chart.
So at this point it looks like wave (iii) if [v] is underway,
and wave [v] will continue to push higher into early in January.

When we have another five wave move complete in wave [v].
Then I will look for sings of another reversal.

I know this is getting exhausting as we plough into another wave count iteration in wave ‘5’ blue.
But this pattern is still showing a terminal move here,
one which will be resolve with an almighty bear market.

The Jaws of death are closing on the daily chart also, which is an ominous longer term pattern that should be watched now.

Tomorrow;
Watch for wave (iii) to trace out a five wave move and complete possibly by tomorrow evening.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has completed three waves up in wave ‘ii’ at the overnight high of 1900.
The decline off that high should begin wave ‘iii’ of (c) to the downside as shown.
the target for the main count remains below 1819.
this is where wave (c) will break the wave (a) low.

The alternate count for wave (ii) calls for a break of 1854 at a minimum.
That will complete a bullish higher low and a (i) (ii) pattern off the low.
A rally off that level will strongly favor the bullish alternate count.

Tomorrow;
Watch for a decline into at least 1850 before looking for the rally to resume.

The main count still allows for more downside in wave (c) of [ii].

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The bearish pattern is still in play for crude this evening.
The price has created a lower high this afternoon as a possible wave (ii).
And again this evening we have a spike lower off that high suggesting that wave (iii) is beginning.

Wave (iii) will be confirmed with a drop below 46.26 again at the wave (i) low.
I want to see wave (iii) move below the 44.00 handle again to give us a clean break of support and a stronger case for a top in place.

Tomorrow;
Watch for todays high to hold and the drop into wave ‘i’ of (iii) to continue.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P also made a new high today and ruled out the bearish short term count from last week.
The pattern is still leaning heavily in favor of a topping process in wave [v] though.
With a possible expanding diagonal now completing in wave [v].

Wave (v) of [v] can rally to meet that upper trend channel line at about 3760 to fill out the wedge pattern.
And of we see a reversal off that upper line,
that will indicate the pattern is complete for wave [v].

The all important support remains at 3550 in wave [iv] green.
The best signal of a top in place in wave [v],
will come with a break of that level in wave [i] early in the new year it seems now.

Tomorrow;
Watch for wave ‘c’ of (v) to touch that upper trend line somewhere in the area of 3760 by the middle of this week.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am watching a pretty clear three wave corrective pattern now in place for wave ‘2’ red.
The price fell slightly today but has not broken lower into wave ‘3’ just yet.
But I am still looking at wave ‘3’ as the most likely outcome here.
And wave ‘3’ down should begin tomorrow.

There is one small caveat on that interpretation.

If the low at 25.40 holds over the coming days.
That will favor the idea of a triangle forming off the previous high at 27.40.

Wave ‘C’ of (B) will then move towards a five wave pattern higher,
and we will complete wave (B) with a break of 27.40 again.
And then we will move lower into wave (C) from there.

Tomorrow;
Watch for wave ‘3’ of (C) to begin with a break of 25.40.
And then fall quickly back below 23.57.