Good evening, and Gods Blessings to you all tonight.

Here is todays video update recorded earlier this afternoon.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I am looking at tonights new high as wave (b) of [b].
We have a three wave pattern higher out of the wave (a) low,
and this action suggests we will have another decline in wave (c) early next week.

Wave [b] is now on track to trace out a larger three wave pattern as shown.
So next week looks like another sideways affair at the moment.

Monday;
Watch for wave (b) to top out,
and price to then fall again into wave (c) to about the 1.1700 handle to complete wave [b].

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is ruled out last nights short term count with a break above 1.30 again today.
This action is still viewed as the last few subwaves within wave (c) of [b].
And this correction will be resolved with a decline in wave [c] over the next few weeks.

Monday;
The 50% retracement level lies at 1.3121,
watch for any reversal off that level to begin wave [c] down.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY fell out of the triangle pattern overnight and ruled out a higher high in wave (i) as suggested.
the price is now falling in wave (ii) blue as shown.
The triangle formed wave ‘b’ of (ii)
and wave ‘c’ is now tracing out a five wave pattern to complete the correction.

Monday;
Watch for wave (ii) to find support at about 105.46.
This should complete three waves down and lead to a rally into wave (iii) of [iii].

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

There is now a glaring deceleration visible in both the hourly and 4hr charts again.
This is definitely a sign of exhaustion in the short term.
The rally in wave ‘2’ has now retraced 78.6% of the previous decline,
And the pattern is now complete on the hourly chart.

I have shown a slightly different interpretation of wave [b] and [c] tonight after todays action.
Wave [b] is a running flat,
and wave [c] is an ending diagonal.
So we really have a full array of awkward patterns on display!
All that remains is for wave [i] if ‘3’ to begin with a sharp move lower.

Monday;
Watch for wave (i) to drop off these highs early next week.
We really are at the end of the bearish possibilities now so its now or never for wave ‘3’.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has followed the market higher this last week,
and I believe it will also follow it down again into wave (iii) beginning next week.
Wave (ii) has extended today,
but the pattern is still favorable as a three wave correction higher.
The price has reached the minimum target level for wave ‘c’ with a break of the wave ‘a’ high,
and I think if we see a break back below the 1900 level again
that should signal wave (iii) has begun.

Monday;
Watch for wave ‘c’ to complete at or below the upper trend channel line at 1935 or so,
and then fall back into the larger trend channel to begin wave (iii) down.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is correcting off the high of the week and so far I am viewing this as wave ‘iv’ of (v) of [c].
It is getting close now though,
if the price falls below 39.40 again that will signal wave (i) of [i] has begun.

Wave [c] of ‘2’ has not made a new high above the wave [a] high yet,
and so I am allowing for another run up in wave (v) to complete a clean flat correction.

Monday;
We are close to a reversal into wave [i] down now,
but lets just see how wave (v) of [c] finishes on monday.
The key level in the short term is 39.44.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P continues its relentless rally this evening with a new high to break above the 62% retracement level of wave ‘1’.
The price created a throw over above the upper trend line in wave (v) of [c].
So I will be looking for a drop back below this level again on Monday.
If we break the lower trend line with a drop below 3400 again,
then we should see wave (i) take over and fall in five waves back below 3340 at a minimum.

Monday;
As I mentioned in the Dow,
we are at the end of the road for this bearish count.
If we dont see a reversal early next week,
then I will have to rethink what is happening in the larger wave count.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The rally this evening in silver is no doubt impressive today,
but I still can’t shake the idea that this is all part of a large fourth wave correction higher.
The corrective pattern fits the action even with the rally this week.
And I think we will reach the end of this leg up in wave [c] of ‘4’ pretty soon.

Wave [c] should trace out a five wave pattern ideally,
but I can’t rule out the possibility that wave [c] will trace out a three wave pattern and complete wave ‘4’ as a combination.

Monday;
Watch for wave [c] to complete below 25.80 and reverse lower early next week into wave ‘5’.