Good evening to you all, and may the Lord bless you all tonight.

How many more signals do we need?

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

After hitting the upper channel line today EURUSD has dropped off again with an impulsive form.
This move has not confirmed that wave [iv] is complete,
but it is a good start at the exact right time!
This move is labelled wave ‘i’ of (i) of [v].
So there should be a lot more downside here to follow if wave [v] takes over.

Monday;
Wave (i) should fall in five waves and break the wave (b) low at 1.1285.
A lower high in wave (ii) will signal a larger decline is coming in wave [v].

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is finally making a move lower today also after coming within spitting distance of the invalidation line at 1.3830.
If the top in wave [ii] is in play now,
then we should see continued downside over the coming week as wave [iii] of ‘3’ takes over.
The next test is for a five wave decline into wave (i) to develop from here.
And just like EURUSD,
a bearish lower high should form next week in wave (i) and (ii).
I would like to see wave (i) fall below 1.31 again.

Monday;
Watch for wave (i) down to continue the decline and retrace down into the area of the previous wave (a) high.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

It looks like we are beginning to swing higher into wave [b]
after a small spike higher off the wave [a] low today.
I am looking for a three wave rise into a wave [b] lower high.
And I am looking at the 115.70 area for wave [b] to top out.
This level is where we see the previous wave (b) high,
so that should be an attractive pivot for this rally.

Monday;
Watch for wave (a) of [b] to rise in three waves early in the week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

As I write the price is about to break through this weeks low again.
I am not willing to abandon the main count just yet even if this low at 35639 actually breaks.
But I will admit,
that the alternate count now has a rising probability number attached to it!

I have switched to another interpretation for wave (ii) of [v] today.
This count involves a larger three wave decline as shown.
and the trend channel suggests wave ‘c’ of (ii) will fall into the 78.6% retracement level of wave (i).
This will bring us down to the 35150 area to complete three waves down.

Monday;
IF this count is correct,
we will see declines early in the week to complete wave ‘c’ of (ii).
Wave (iii) of [v] should then begin before the end of the week.

A break of the wave ‘iv’ low at 34666 will signal that this market is actually topping now.
and we will not see another new high in that case.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has spent the last few sessions going sideways and nowhere!
And the action has not given much insight into the developing pattern here.

I have shown another interpretation for wave [c] this evening.
In this case wave (iii) of [c] is already in place at this weeks high.
And the sideways pattern over the last few sessions is actually wave (iv),
wave (v) should then take us back above 1830 again at a minimum.

If this count proves correct here,
then we are closer to the top of wave ‘D’ that previously thought,
and then wave ‘E’ could even begin next week.

Monday;
Watch for wave (v) of [c] to top out by midweek next week.
We may begin to see the reversal into wave ‘E’ before the end of next week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude continues to levitate today and crawl ever closer to that invalidation line at 85.00.
I did not expect us to get this far in wave (2) for sure,
but this is where we are so I have to contend with that fact!

I remain of the opinion that this is a counter trend rally in wave (2),
and this should be followed by a severe decline into wave (3) over the coming months.
The wave (2) count depends on the price holding below the last extreme high at 85.00.

If crude breaks above last Octobers high again,
then I will have to go back to the drawing board again for wave [C] of ‘b’.

Monday;
Next week is lining up to be a very critical week for crude,
a third wave decline will be brutal,
but does it begin now,
or will I have to wait for another opportunity later in the year??

The price must fall hard next week to suggest wave ‘1’ of (1) is underway.
So that is what I want to see beginning Monday!

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has fallen in a reasonable form off the wave ‘ii’ high this week.
The action has not ruled out the alternate count for wave ‘iv’ yet,
so we may still see a triangle wave ‘iv’ complete very soon,
and this would be followed by a rally to break above 4750 again to signal wave ‘v’ has begun.

If the bearish count is correct,
then wave ‘iii’ of (i) is now in play here.
A break below 4530 again will confirm this count,
and if that happens I will be looking for that wave (i) down to complete even by the end of next week.

Tomorrow;
Watch for wave ‘iii’ to fall below 4579 again to signal wave (i) is underway.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Wave [c] of ‘B’ is almost there now,
the price has completed a possible expanded flat correction in wave (iv) of [c] today.
And this should be followed by a spike higher in wave (v) of [c] to begin on Monday and that will carry back above 23.42 again at a minimum.

The upper trend channel line suggests a high even as far as the 24.00 area to complete wave ‘B’,
but the minimum target at 23.42 is enough to concentrate on for the moment.

Monday;
Watch for wave (v) of [c] to return higher by Monday evening.