Good evening folks, And the Lord’s Shalom to you all tonight.

Here is tonight’s video update for you if you can manage to keep your eyes open while viewing – well done!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We have a three wave pattern higher into the session high today,
And the price has fallen with a spike lower off that high.
If wave (ii) is now done,
then wave (iii) of [iii] of ‘3’ should head lower immediately on Monday.
This wave has a whole lot of potential to the downside now,
so next week is pretty important to confirm the larger pattern.

Monday;
Watch for wave (iii) down to be confirmed with a break of 1.1835.
Wave [ii] must hold at 1.2114.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable completed three waves up in wave (ii) at the overnight high.
The price matched the previous fourth wave high,
and the 50% retracement level and dropped impulsively off that high.
All of this action points to a larger turn underway now in wave (iii) down.

Monday;
Watch for wave ‘iii’ of (iii) to break 1.3778 and confirm that wave (iii) is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is heading sideways overall this week it seems!
This is indicative of a corrective consolidation in a possible fourth wave.

It is still up in the air which pattern wave (iv) will take,
the triangle is what I am working with right now,
but wave (c) could easily drop out of that pattern and fall into the 108 level as part of a flat correction.
Either way,
I am looking for wave (c) to drop again on Monday as part of the triangle or to complete wave [iv].

Monday;
Watch for Wave (c) to hold above 108.35 in the triangle scenario.
Wave [iv] should complete next week and lead then lead higher into wave [v].

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

A new all time high to close out the week,
why not eh, the world may be falling down around our feet but we got the stock market,
and boy do we feel gooood!

The pattern in wave (c) is still a five wave pattern overall,
and closing out rapidly at that!
The price has held ever so slightly above the upper trend line today,
and we are inching towards that (a) = (c) level at 32940.
Once we hit that level it should be the death knell for this wave and we can look for an impulsive decline out of this pattern next week.

Monday;
The current top is wave ‘v’ of (c) of [v] of ‘5’ of (5) of [5] of ‘iii’.
seven degree of trend are closing out before our eyes now.
and with that seven degree of trend comes seven degree of idiocy in the surrounding world!

Watch for wave (c) to top out near that (a) = (c) target early next week.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has completed a higher low in wave (b) of [iv],
and now we are heading higher in wave (c) of [iv] off that low.
The price is likely to rally into about 1750 to top out wave (c) by Tuesday evening,
and once that is done,
I will be looking lower again in wave [v] of ‘C’ of (4).
The overall target for wave (4) still lies at the 1600 area.
But the alternate count does suggest the low is already in for wave (4).
We will know next week which view is correct on that one.

Monday;
Its a case of not quite but almost for wave (4).
Watch for wave (c) to top out at the trend line at 1750 before turning into wave [v] again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

We have a lower high in place again for crude.
but it is now time to show us what is really going on here.
The price must decline on Monday into wave (iii) if we are going to put a top in for wave [4].
A drop below 63.00 again will be the signal that wave (iii) has begun.
But I want to see this impulse wav off the high push into the 59 handle again to really confirm the top is in.
That is possible next week if the pattern goes the way I think it will.

Monday;
Watch for the price to fall early on Monday to indicate wave ‘i’ of (iii) is in play.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P fell in three waves today and has held above this weeks interim high at 3904.
Todays decline can be viewed as a small fourth wave within wave ‘v’.
And if 3904 holds on Monday,
then we should see another high to complete five waves up in wave ‘v’ pink.

Monday;
3990 is the bigger target for wave ‘5’ blue and it seems likely that we will reach that high next week.
The upper rend channel line for wave [v] suggests we will see a break of the 4000 level before completion.
Either way,
next week should cap off this rally,
and then I will switch focus to the downside again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Todays trade has traced out a small five wave decline to begin wave [iii] green.
I have labelled this evening lower high as waves (i) and (ii) of [iii].
And this count suggests an acceleration lower into wave (iii) of [iii] next week.

Monday;
Watch for wave (iii) to be confirmed with a break of 24.80 again.
The minimum target for wave ‘5’ of (C) of [2] to complete at is 21.00 again.