Good evening to you folks,

God’s blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is holding above the invalidation low at 0.9963,
but I remain concerned about the prospects for a new decline phase if that low does not hold.
The decline into wave ‘ii’ is more like a five wave pattern than a correction at this point.

It is possible that a fresh stock market decline will spark another USD rally and this reversal pattern will be wiped out.
I will just have to wait and see I suppose.

Monday;
If the price continues higher and breaks the wave ‘i’ high again at 1.0198 I will be a little more content with calling this a reversal in the making.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is progressing along the pattern into wave [v] reasonably well today.
Wave (iii) of [v] is close to completing an internal five wave pattern.
the low of the session today is at 1.1352,
and wave (iii) should complete with a break of that low again.

If wave [v] continues as I suggest,
then we should see another correction higher and drop to a new low near 1.1200 to complete the pattern.

Monday;
Wave (iii) is set to complete with a break of 1.1350 again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY seems to be in the process of correcting higher again today.
I am calling this a correction higher into wave ‘ii’ at the moment.
This pattern can only be confirmed with a break back below 141.50 next week.

Monday;
Watch for wave ‘iii’ of (iii) to turn lower again to confirm this short term pattern.
I have the same caveat as with the other markets,
if the stock market does actually crash next week,
then we are in for another run higher in the USD again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I am looking at todays small decline as a possible beginning to the acceleration phase into wave ‘iii’ of (iii).
The price is holding in a very tight range this evening,
and this could be wave ‘2’ of ‘iii’ of (iii).

This wave count requires a very large decline beginning on Tuesday at the latest.
Wave ‘iii’ of (iii) is targeted towards the 27300 area when complete.
That will not stop the decline phase though,
I’m afraid it is just the beginning really.
As we have three higher degrees of third waves operating here too.
So,
the edge of the cliff is here.

If I am completely wrong on this call we should know by midweek next week.

I am not calling crash on Monday,
but the pattern says there is a possibility that next week could begin a new phase of sharp declines.
Lets remain vigilant.

Monday;
Watch for wave ‘2’ of ‘iii’ to hold below 31290.

Another step lower could begin wave ‘iii’ proper.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold hit a low of 1653 today and with that we have a target hit within a few points!
I can’t say that the larger correction is complete at that low,
but what I can say is that we have a chance!

I will be watching closely to see what happens with this bounce off todays session lows early next week.
A further rally to break above the wave ‘iv’ high at 1735 will be a vote in favor of the idea that we have finally bottomed out here,
Wee will see soon enough.

I mentioned in the video about the lower target area near 1550,
that is, if the price was to drop into the lower trend line of the channel on the 4hr chart.

Monday;
Watch for wave ‘i’ to rally in five waves up above 1735 to call a possible low for wave (4) blue finally.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

It is really hard to call that action over the last few hours an impulsive move higher.
Although the expanded flat corrective pattern in wave (ii) is a near perfect pattern,
the action that has followed is anything but!
I’m afraid it is a wait and see game here for wave [c].
Only a sharp rally back towards the 97.00 level will be enough to confirm this pattern.

As for that alternate count;
I went into that in more detail in the video,
in short,
A three wave pattern into the 94.00 handle could favor the previous bearish count again.
So that possibility will be worth watching next week.

Monday;
Watch for wave (iii) of [c] to rally hard back into the previous highs at 97.30 to confirm this main count.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is closing the week at a new low for this pattern.
And with that we have a real chance at kicking off wave ‘iii’ of (iii) down net week.
This idea has been the main point to my whole thesis over the last few months,
and while it has taken time to develop,
here we are at last on the verge of that waterfall moment
where the bear market actually grips the price and freefalls lower to shake the whole world awake to the fact that the illusion is over,
and to recognize that the bear market has arrived for sure.

We are at one of those moments now.
And I know I am talking big here,
but the pattern that I am following here actually requires this to happen in order to stick with it!
It is part of the deal!

Monday;
I will be watching how the initial trade goes on Monday to see if we step further into wave ‘3’ of ‘iii’.
The minimum target for wave ‘iii’ lies at 3700,
but I don’t think wave ‘iii’ will stop there.

Watch for wave ‘2’ to hold at 3959.
Wave ‘3’ of ‘iii’ should continue lower again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am looking at a slightly different version of wave [c] tonight.
in this idea we have a top in place for wave (iii)
and the complex corrective action over the last few days is actually wave (iv) blue rather than a lower degree correction that I was working on.

The price came too close to the invalidation level today and that was the main reason for the changes.
But the price has rallied out of that low with a nice impulsive looking look again,
and now we have a possible rally into wave (v) ahead of us next week.

Monday;
Watch for wave (v) of [c] of ‘4’ to push back above the 20.86 highs of wave [a] to complete this correction by the middle of next week.