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

EURUSD

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EURUSD daily.

well,
wave ‘c’ never reached a new high above the wave ‘a’ top and that adds a level of mistrust to the wave count now.
I am testing the idea of a turn into wave ‘i’ down now,
and if the decline continues to break the wave ‘2’ low at 1.0280 again that will be confirmation of wave ‘i’ of (v).

The alterante count suggests wave ‘4’ is still in play here and wave ‘5’ will come again next week.

Tomorrow;
Watch for wave ‘i’ of (v) to continue lower in five waves to break 1.2080 over the next few days.

GBPUSD

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GBPUSD daily.

Cable is still operating in wave ‘iv’ of (iii) at the moment.
There is a possibility that wave ‘c’ of ‘iv’ is completing now with a double bottom at the wave ‘a’ low.
And from there We should see a turn higher into wave ‘v’ beginning tomorrow.

Tomorrow;
Watch for wave ‘c’ of ‘iv’ to complete an expanded flat above 1.2550 and then rally into wave ‘v’ again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has been very quiet this week and the action has drifted sideways in a corrective manner overall.
Wave ‘iv’ of (c) is still the best fit pattern at the moment.
and this requires another drop into wave ‘v’ of (c) tomorrow to complete the larger correction.

Tomorrow;
Watch for wave ‘v’ to complete with a break of 148.50 and then we should see a turn higher into wave (i) again.

DOW JONES.

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DOW daily.

The session is ending this evening with another spike lower off the corrective high formed earlier in the session.
the market has not yet dropped below 42900 as I was suggesting.
There is still an open door on that idea as the market has not managed to retrace any losses off the top.
Ideally wave ‘iii’ will drop below the channel near 42500 before any correction in wave ‘iv’ can begin.
So in general today,
the action is moving in line with the pattern.
But there is no proof of concept yet.

Tomorrow;
Watch for wave ‘iii’ of (i) to fall below the lower channel line to complete.

GOLD

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GOLD daily.

Gold took a step lower again this evening and hit a low at 2867.
there is a possibility that wave ‘1’ of ‘i’ is now in play here.
And if that is correct,
then we will see a corrective rally tomorrow in wave ‘2’.
The larger wave ‘i’ down has not been confirmed yet.
A break below 2785 again will be a good signal that this rally has finally turned.

Tomorrow;
Watch for wave ‘1’ and ’22’ to form a lower high before accelerating lower into wave ‘i’ pink.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil turned higher in wave ‘a’ of (ii) today.
I am expecting a three wave rally to a lower high as shown.
And once that complete early next week,
we should then see a reversal into wave (iii) down.

Tomorrow;
Watch for wave ‘b’ of (ii) to complete above the wave (i) low at 68.30.
Wave ‘c’ of (ii) should then turn higher again.

S&P 500.

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S&P 500 daily.

That’s a pretty sharp selloff to end the session!
I am now thinking a bit bigger with the wave count.
Perhaps wave ‘ii’ is complete at Wednesdays high.
And wave ‘iii’ is underway with a sharp acceleration lower again.
We will see how this holds up tomorrow,
but I would like to see wave ‘iii’ create a five wave pattern lower to break the next support at 5770 again.

Tomorrow;
Watch for wave ‘iii’ to continue lower in five waves as shown.
the price should now hold below 6000 as wave (i) develops.

SILVER.

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SILVER daily.

Silver is working its way lower into wave ‘iii’ today with a break below initial support at the previous wave ‘iv’.
I have marked the wave (a) high as a significant level to hit in wave ‘iii’,
as a break of that level will confirm wave [ii] at the recent high.
Wave (i) blue should make further progress lower with a target at 30.00 again.
But that will take a few more days in this scenario.

Tomorrow;
The action today brings us one step closer to a full impulse wave down in wave (i) blue.
Wave ‘iii’ should break below 31.00 to complete tomorrow.