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

Foreigners bought $76.5 Billion worth of U.S. Stocks from Nov 2024 – Jan 2025, the fastest 3-month pace in history! Unfortunately, historically they have had poor timing having bought right before the 1987 crash, the 2000 dot com bubble, and the 2008 global financial crisis

EURUSD

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EURUSD daily.

EURUSD did turn higher today and I am sticking with the wave ‘2’ idea for the moment.
the price is holding a lower high in wave ‘2’ this evening,
and wave ‘3’ of ‘i’ should turn lower again by tomorrow.
A break back below the wave ‘1’ at 1.0360 again will signal wave ‘i’ is underway.

the alternate count for wave ‘c’ is still valid I’m afraid,
we will know tomorrow how this one resolves.

Tomorrow;
Watch for wave (iv) to hold at the recent highs.
Wave ‘3’ of ‘i’ must turn lower first thing tomorrow.

GBPUSD

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GBPUSD daily.

Cable rallied to a slight new high above 1.2714 today and that brings us very close to the end of wave ‘v’ of (iii) now,
Wave (iii) will complete by midweek I suspect.
And then later this week I will look for a turn lower again into wave ‘a’ of (iv) as shown.

Tomorrow;
Watch for wave ‘v’ to hit that upper trend line near 1.2800 and then drop off that level in an impulsive manner.

USDJPY.

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USDJPY daily.

I am looking at a possible ‘i’ ‘ii’ pattern building off the recent low now in USDJPY.
The internal pattern of wave ‘i’ pink is labelled as a five wave structure complete at todays highs,
And now wave ‘ii’ is underway off 151.30.
Wave ‘ii’ should trace out a three wave structure lower from here,
and wave ‘ii’ will complete above 148.55 again.

Tomorrow;
Watch for wave ‘ii’ to hold above 148.55 after a three wave decline and then wave ‘iii’ must turn higher again.

DOW JONES.

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The DOW pushed higher early in the session and came close to invalidating the main idea here.
Wave ‘iii’ is still a possibility at the moment after a turn lower again this afternoon.
It was a close call today,
so I am going to let this pattern play out to see if the action continues lower tomorrow in line with the wave count.
If we see a drop back below 42650 again that will favor this wave count again.

Tomorrow;
Watch for wave ‘5’ of ‘iii’ to fall back into the lower trend line as suggested.

GOLD

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A new count for gold today with a larger pattern for wave ‘1’ and ‘2’ now in play.
Wave ‘i’ pink must continue the push lower over the coming days in this scenario.
And I want to see a break of 2785 again as wave ‘i’ completes later this week.
Wave ‘3’ of ‘i’ will do most of the work in this scenario,
and that wave should start soon.

Tomorrow;
Watch for wave ‘3’ of ‘i’ to fall back below 2830 to confirm the pattern.

CRUDE OIL.

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A pretty sharp move lower today is suggesting that wave (ii) is complete now.
I am surprised I must admit,
as I was looking for a more substantial pattern in wave (ii).
But that idea has been cut short.

If todays move lower is the beginning of wave (iii) of [iii]
then this weeks action is going to bring crude back into the lows created last September at 64.00 again.
And from there it may even get exciting!

Tomorrow;
Watch for wave ‘iii’ of (iii) to extend lower towards 66.50.
Wave (iii) blue should trace out five waves down overall and hit a low near 64.00 over the coming days.

Wave (ii) must hold at 70.40.

S&P 500.

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S&P 500 daily.

The S&P has retraced all of Fridays rally now and it looks like wave ‘ii’ is now complete at the early highs.
If wave ‘ii’ is now underway,
then the initial target lies at the previous wave ‘ii’ support at 5770 again.
Wave ‘iii’ should fall lower than that ideally.
And I am looking for a break of the next lower support at 5690.
This is the low of the previous wave (iv) low formed last November.
So there is definite support in the band between 5690 and 5770.
It is up to wave ‘iii’ down to break that support.
That is a tall order,
but it is a good test of the potential of a much larger reversal.

Tomorrow;
Watch for wave ‘ii’ to hold and wave ‘iii’ down to continue lower as suggested.

SILVER.

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SILVER daily.

Despite an early rally in silver this market has formed a lower high in wave ‘iv’ at todays high.
The wave ‘i’ low at 31.90 is holding,
which is a vote in favor of the current pattern.
And wave ‘v’ is expected to fall back into the 30.00 level again to complete wave (i) blue as shown.

Tomorrow;
Watch for wave ‘iv’ of (i) to fall back into 30.00 again over the coming days.
A break of 30.80 is the minimum target for wave ‘v’ pink.