Good evening folks, the Blessings of the Messiah to you!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We have a small three wave correction in place in a possible wave ‘iv’ of [iii] today.
The price has held below the previous wave (i) low at 1.1835 also,
and the price has reversed off the high this evening.
the low at wave ‘iii’ lies at 1.1761.
If the price does drop below that level again on Monday,
that will signal wave ‘v’ has begun.

Monday,
Watch for wave ‘v’ of (iii) to drop back below 1.1735 at a minimum.
This is the level where wave (i) and (iii) reach equality.
I would like to see a into 1.1650 to put some distance between wave (iii) and wave (i).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Wave (ii) has reached above the 38% retracement level of wave (i) today.
The action within wave (ii) is very overlapping, which suggests a corrective move.
And now we have retraced a reasonable amount of wave (i),
I suspect we will see a reversal into wave (iii) beginning on Monday.

So far we have not seen a significant acceleration lower into wave (iii).
I want that to happen early next week in order to confirm the larger bearish count.

Tomorrow;
Watch for wave (ii) to complete soon, and wave (iii) down to get underway with a break of 1.3669.
Wave (iii) has a minimum target at 1.3500,
where wave (iii) equals wave (i).

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is now well into the wave [v] rally today,
after a spike rally back above the wave [iii] at 109.35 has confirmed the main count.

While the minimum target for wave [v] lies at 109.35.
I am still looking for wave [v] to push up towards the 110.80 level to complete a larger Fibonacci relationship between wave ‘1’ and ‘3’ blue.

Monday;
Watch for wave ‘v’ of (iii) to push above 110.00 before correcting again in wave (iv).

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

As wave (ii) pushes back within spitting distance of the all time high again,
I am looming at this evenings new high as wave ‘c’ of (ii).
In this scenario,
wave (ii) has completed a running flat correction.
and the rally in wave ‘c’ has stalled today at the 62% retracement level of wave (i).
This is another signal that the pattern in wave (ii) is complete here.

And if this pattern is correct,
then we will expect to see that long awaited explosive move lower into wave (iii) next week.

Monday;
Watch for wave ‘i’ of (iii) to start early and drop back below 32350 at the wave (i) low.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has created a ‘i’ ‘ii’ pattern off the high at wave (ii) this week.
The sharp decisive action is to the downside over the last week in both wave (i) and wave ‘i’.
Everything else has been corrective looking.
The downside bias is still intact.
and I am expecting wave (iii) of [v] to drop sharply next week and to break below the 1700 handle again before correcting in wave (iv).

Monday;
the high at wave (ii) must hold at 1745.
wave ‘iii’ of (iii) down is now in play.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has followed the play book this week quite well.
The price has now created a three wave zigzag correction,
which has filled a trend channel off the wave [i] low.
Wave [ii] has retraced 38% of wave [i].
And we have a reasonable looking head and shoulders pattern in place around the high.
All that is left to do is to drop into wave [iii] in a large decline phase.

Monday;
Watch for wave [ii] to complete soon and then turn lower into wave [iii] down.
If we hold below todays highs at wave [ii] on Monday,
that will signal wave [iii] has begun.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is close to completing an expanded flat correction in wave ‘ii’ today.
The rally over the last few days is of course concerning as we have so quickly retraced most of the recent decline.
But that does not change the underlying weakness in the market.
Leadership has diminished again,
the rally looks exhausted in the larger timeframe.
We have MACD and RSI reversal on the longer term charts.
We have extremes in sentiment boiling over everywhere.
The debt markets are signaling a major reversal in risk sentiment is underway.
junk bonds are rolling over again.
the Hindenburg omens are coming.
And to top it all off,
people are screaming about inflation again,
right at the time when deflation is the biggest risk to the financial markets!

But yet the market seems oblivious to the decay in place.

Monday;
Lets see if wave ‘iii’ can cause a reversal off this lower high and pull the market back below 3880 at wave ‘i’ again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is concluding the week with a small correction off the low underway.
I have reworked the short term count this evening to show wave (ii) now underway off the lows at 24.39.
The price is slowly tracing out a three wave correction higher.
with wave ‘a’ and ‘b’ now complete.
I suspect wave ‘c’ of (ii) will rise into 25.30 again and then collapse into wave (iii) over the coming week.
We have made good progress lower this week off a correction in wave [ii].
But wave (iii) of [iii] is where the real fireworks will come.

Monday;
watch for wave (ii) to complete below the declining trend channel line again.
Wave (iii) down will be confirmed with a break of 24.40 at the wave (i) low.

Thanks you all for your patience this week.
I continually talk about a coming collapse in the market that has not materialized yet.
But I am more convinced that ever that we are about to get judgement for our profligacy!
This depression will deepen over the coming years,
not get better as we are all told!

This is a future that I can see looming.
this is the future that no-one wants to recognize.
I see it like a scepter hanging over the world,
about to slice us in two!

And a majority of people will lose most of their financial assets in the coming crash.

So I will keep warning as long as God Almighty puts breath in my lungs and life in my bones.

I pray you all have a safe, enjoyable and blessed weekend!
Until Monday rolls around again!

God’s Blessings to you all.
adios
enda.