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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A very quiet day in the FX market today which has resulted in a corrective move lower off the top on Friday.
the rally has not broken above the wave (i) high at 1.0533,
and that remains a point of resistance,
and a point of uncertainty in this wave count.

I am looking for wave ‘iii’ of (iii) to rally significantly over the coming week,
and that will require a quick break through above that wave (i) high and a then a top in wave ‘iii’ near 1.0700 when complete.
If we get that,
then I will be more confident on this wave ‘iii’ count.

Tomorrow;
Wave ‘i’ pink should hold at 1.0440.
Wave ‘iii’ of (iii) must continue higher at least for the next few days with a target near 1.0700.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am looking at a small correction within wave ‘3’ of ‘iii’ today.
The price action seems to be developing in a flat correction sideways at the moment,
and I am suggesting a possible low at 1.2570 for this correction.
The rally in wave ‘3’ of ‘iii’ must then resume with a target for wave ‘iii’ pink at 1.2800.
this is where wave ‘iii’ will reach 162% of wave ‘i’ pink.
That rally should only be the beginning if the larger pattern is correct.

Tomorrow;
Watch for wave ‘i’ to hold at 1.2549 and wave ‘iii’ pink to continue higher for the next few sessions.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

We are very close to breaking the short term pattern in USDJPY this evening.
If the price breaks below 150.93,
then I will switch to a larger count for wave [ii] green,
and that will prolong this correction lower for another few weeks I suspect.

The 4hr chart shows the alternate count.
This shows a decline into the 147.00 area in wave [ii] green.
and the current move is part of the wave (b) sideways correction.
This count will be triggered quite soon if it is correct.

Tomorrow;
Watch for the low at 150.93 to hold and wave (iii) up to turn higher again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow is stuck on a sideways path today with very little to prove the main count to be honest.
The price action is favoring a contracting triangle at the moment.
If this is a triangle correction,
then we will see a corrective drop back into 44200 or there about,
and then a push higher again to a new high.
If the price falls below 44000 again,
that will flip the balance back in favor of wave ‘i’ down again.

Tomorrow;
Lets see if the market will choose a triangle correction by holding above 44070.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

A corrective move off Fridays lows today keeps the main count in play here.
Gold will fall in five waves towards 2730 again in this scenario.
and that should be done by the end of this week ideally.
From that point I will look for a correction higher in wave ‘ii’.

The first level is support lies at last Octobers high of 2790.
I would like to see a break below that level to confirm the turn down into wave [c].

Tomorrow;
Watch for wave [b] to continue to hold at the recent highs,
wave ‘i’ down must fall in five waves from there and hit the 2700 area when complete.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The action today is beginning to favor a larger correction wave ‘ii’ pink.
In this scenario wave ‘ii’ will again top out near 72.00 as shown.
and from there the price should turn lower to begin wave ‘iii’ of (iii) again.
And a drop back below 70.00 again will confirm wave ‘iii’ of (iii) is underway.

Tomorrow;
Watch for wave ‘ii’ to complete an expanded flat correction with a top near 72.00 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is holding at the highs today which suggests a minor correction is underway here.
Wave ‘3’ of ‘iii’ should rally higher this week if the new count holds.
And we will approach that upper trend channel line again at the top of wave ‘iii’.
This is best viewed on the 4hr chart.
If wave (v) blue reaches equality with wave (i) blue,
then we will see a top at 6330 for this pattern.

Tomorrow;
Watch for wave ‘iii’ of (v) to continue higher this week.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The bounce off that wave ‘1’ low is still underway today.
the price should create a lower high in wave ‘2’ by tomorrow evening,
and then a turn lower in wave ‘3’ will fall into support at 31.20.
A break below that level will confirm that wave ‘i’ is underway.

Tomorrow;
Watch for wave ‘i’ down to complete five waves down this week with a target at 31.20.