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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I am looking at an alternate count for this sideways action over the last week.
There is a possibility that a triangle is developing as part of a larger wave (iv) of [v].
If the price breaks below 1.1186 again that will trigger the triangle count.

The main count is still valid until that low is broken.
Wave ‘y’ can fall below 1.1227 and then rally into wave (c),
but its getting very close to the bone here,
and we could easily see a triggering of that alternate count.

Tomorrow;
Watch for wave ‘y’ of (b) to complete above 1.1186 and then rally to begin wave (c).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The low of wave ‘b’ is holding today at 1.3192,
and as long as that level holds then we can consider wave ‘c’ as underway.
Wave ‘c’ will be confirmed with a break of 1.3276
and then continue higher towards the top extent of the previous wave ‘iv’ to complete wave (a).

Tomorrow;
watch for 1.3192 to hold and then wave ‘c’ to continue higher.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The action over the last few days is starting to look more like a triangle than an impulse wave down now.
If this is the case,
then we are looking at a possible wave ‘iv’ of (c) in play now,
with another pop to the upside left in wave ‘v’ of (C).
The 62% retracement lies at 114.37,
so that is a possible target now for wave (c) to complete.

Tomorrow;
Watch for the triangle pattern to hold now and then a rally into wave ‘v’ to break above 113.96.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The decline off wave [ii] is a move in favor of this bearish count,
but I will need to see a much larger impulsive move lower to confirm this count.
Wave (i) of [iii] should break below 35000 again with ease,
if that does not happen during this week,
then I will have to consider the recent action as all corrective.

That is where we stand now it seems,
It is a case of ‘do it, or get off the jacks’!

Tomorrow;
Wave ‘ii’ must form a lower high and then we should see another acceleration lower into wave ‘iii’ of (i) over the coming days.
Wave [ii] must hold now at Mondays high.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold did pip below the wave (d) low oh so very slightly today!
And now the price is holding above the 1770 mark.
It is now very possible that wave [b] is done,
but wave [c] must now take over and break below the triangle formation low at wave (c) – 1761 to confirm the move.

Tomorrow;
Watch for wave [b] to hold at 1791.50 and wave (i) of [c] to drop into 1760 to signal the next decline is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Its been a slow trade today in crude and so far we have not had any confirmation of this count for wave ‘5’.

There is a chance the market is forming a series of 1,2 waves lower to begin wave ‘5’,
but the action is way too tight to call this a third wave decline yet.

Tomorrow;
The only positive out of todays trade was the fact that the invalidation line for this count is very close.
If the price breaks above 71.79 again then I will have to rule out the idea that wave [iii] is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has now dropped off the high with at least a possible impulsive move today.
If we form a lower higher from here then I can consider this move as wave ‘i’ and ‘ii’,
with the expectation being a sharp decline into wave ‘iii’ to end the week on Friday.

I am obviously apprehensive to call this one here with so little to go on.
A failed fifth wave high at wave (v) is already a weak argument I will admit.
But if we do step lower and accelerate to break 4495 at the wave (iv) low,
then my argument will gain some weight.

Tomorrow;
Watch for wave ‘i’ and ‘ii’ to form that lower high as shown.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The short term count says it all tonight.
This is a MUST HOLD moment for the bullish count.
Its been a long time coming to this but silver is on the verge of breaking down in a big way here.
21.40 must hold.
The recent corrective range tops out at 22.60,
so I want to see a break above that level to signal the turn up into wave (i) has begun.

Tomorrow;
It is simple – 21.40 must hold.