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

The market will be closed on Wednesday so there won’t be an update that night.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Well a rally in rally in EURUSD is becoming a rare thing these days!
I am waiting for wave ‘c’ of (iv) to push up to 1.0630 to complete the correction.
But so far the rally has failed to materialize.
There was a sharp spike lower today which almost broke the wave ‘b’ low at 1.0342,
that level is holding as I write.
But I want to see a push back above 1.0500 tomorrow to confirm this pattern.
If it does not happen,
I will reconsider the alternate count.

Tomorrow;
wave ‘3’ of ‘c’ must push back above 1.0500 to confirm this count.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable took a hit today which made me rethink the pattern I am working with here.
I am now switching to the larger wave (iv) idea from a few weeks back.
This pattern does allow for a rally back to 1.2810 again to complete wave ‘c’ of (iv).
And from there I will look lower again into wave (v).

the target for wave (v) lows at 1.20,
so that si quite a drop when it does actually come,
Last weeks count just did not fit with that potential anymore.

Tomorrow;
Watch for wave ‘c’ of (iv) to trace out five waves up this week to hit 1.2810.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

This pattern in wave ‘c’ of (ii) is now underway it seems.
the price fell today to begin the decline in wave ‘c’.
the minimum target lies at 155.95 at the wave ‘a’ low.
But I would prefer to see a drop into the 505 retracement level at 153.30 again to complete wave (ii).
From there I will turn my attention higher again to begin wave (iii) up.

Tomorrow;
Watch for wave ‘c’ to fall back below 155.90 at the wave ‘a’ low at a minimum.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW is slightly lower on the day but the market has not dropped below that wave ‘iii’ target at 42030 yet.
If the market breaks that level,
that will complete five waves down in wave (i) as per the main count.
and that should lead to a corrective rally in wave (ii).

I am equally tracking that alternate idea for waves (i) and (ii).
that pattern will allow for a drop into wave (iii) down sooner than anticipated.
It will be easy to know if this count is correct because the market will drop sharply in a third wave which should hit the 40000 area.
We will know then if the alternate count is correct.

Tomorrow;
Watch for a drop below 42000 in wave ‘v’ of (i).

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Another drop today is not favoring the main count for wave (b) now.
I have not discarded the idea yet,
but if that wave ‘b’ low at 2583 holds,
then I will be forced to consider the alternate idea.
that alternate count suggests wave (b) is already complete at 2725,
and wave (c) is now underway.
The ideal target for wave (c) lies at about 2450.

Tomorrow;
Watch for wave ‘b’ to hold at 2583 and then wave ‘c’ should rally from there towards the target at 2725.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has not quite reached the wave (a) high today,
but we may be close enough to call this correction complete in wave [ii].
the test now comes this week.
the market must turn lower to begin wave [iii] down as shown.
and wave [iii] dow will only be confirmed with a break of 66.50.

Tomorrow;
Watch for wave wave [ii] to hold below 72.50.
Wave (i) of [iii] must now turn lower to begin the next leg down.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am looking at a possible ‘i’ ‘ii’ pattern to begin wave (iii) down this week.
The market is building another lower high below wave (ii) at the moment.
And if this count is correct,
we could see an acceleration lower into wave ‘iii’ down over the coming days.

Tomorrow;
Watch for wave ‘ii’ to complete below 6000,
and from there I want to see a sharp drop off into wave ‘iii’ of (iii).

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has almost broken the wave ‘iii’ low again this evening,
if that happens,
that will complete wave ‘v’ of (i).
And then I will look for a correction higher to begin wave (ii).

Tomorrow;
Watch for wave ‘v’ to complete with a break of 28.70.
A drop into 27.60 will be ideal.
The price will recover later this week into wave (ii) blue.