Good evening to one and all.

The LORD’s blessings to you all tonight.

Something Has Snapped: Unexplained 2.3 Million Jobs Gap Emerges In Broken Payrolls Report

Market Liquidity Collapses As Usage Of Fed’s Foreign Reverse Repo Hits Record $351BN In Biggest Weekly Jump In History

https://twitter.com/bullwavesreal

EURUSD.

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EURUSD daily.

Did we just get an early release from correction prison here?
I have to admit that I just don’t trust todays action, but I am going to run with this until proven wrong here.

There is a chance that wave (ii) completed at this weeks low of 0.9729.
In this scenario wave (ii) completed a complex running flat pattern.
and the rally today is the beginning of wave (iii) up which has the potential to reach the 1.04 area to complete.
A break above the 1.00 high again will favor this count.

So that is the good news here,
a possible final low for EURUSD may be on the verge of confirmation.

As I said,
I am a little skeptical with this count.
The main reason is the very unusual pattern that wave (ii) completed,
and the sizable rally today came as a knee jerk reaction along with everything else.
these types of rallies have the potential to be wiped out once the next session starts,
So I will be vigilant here.

Monday;
Watch for wave the wave (ii) low to hold at 0.9730.
Wave ‘i’ of (iii) should complete on Monday and then wave ‘ii’ must trace out a corrective higher low.

GBPUSD

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GBPUSD daily.

I am facing a similar kind of bind here in this wave [b] pattern.
The price has rallied in wave ‘iv’ today,
but the rally has not invalidated the internal pattern of wave (c) yet.
A break of the wave ‘i’ low at 1.1435 again will signal wave [b] is complete as a running flat,
and wave [c] is now underway off 1.1145.

Monday;
Watch for wave ‘iv’ to hold below 1.1145.
Wave ‘v’ of (c) will be confirmed with a break of 1.1145 again.
the same target is set for wave (c) to complete at 1.0920.

USDJPY.

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USDJPY daily.

As usual,
a correction in wave ‘b’ is causing trouble and seems impossible to track!

I am looking at another possibility for wave [b] tonight after a sharp decline today that rules out last nights count.
the range of the action has been contracting this week and I think we can track a series of three wave patterns in each move.
So I am leaning towards a triangle wave [b] at the moment.
This pattern requires another pop towards 148.00 again to complete the five internal waves of wave [b].
And once that is complete on Monday,
then we should see a reversal lower again to begin wave [c] down.

Monday;
Watch for wave (e) of [b] to complete below 148.45 and then wave (i) of [c] to turn lower again in a five wave pattern.
Wave [c] is expected to fall into the 143.00 area to complete if this pattern remains valid next week.
We will see about that on Monday.

DOW JONES.

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DOW daily.

Well we had a hard Friday bounce today off the back of a completely farcical employment report!
The headline figures from that report are what you might call propaganda.
And the reality behind the numbers is just shocking!
In a week where there is nothing but mass layoffs across the board,
the employment report says the economy has gained employment above the consensus.
Anyway this is not an economic report I am doing here!
Lets get into the patterns.

I think we can look at todays lower high as a possible ‘1’ ‘2’ pattern now in place to the downside.
The action has not confirmed this bearish setup just yet.
But I am willing to give this market time to do that next week.

The elections take place in the U.S next week also,
so I do not know what affect this will have on general sentiment.
If the market moves lower in a sustained third wave decline as I expect,
then I think we can say that sentiment is turning lower and that will favor the idea that a third wave down is coming our way.

Monday;
Watch for the high at wave (ii) to hold and even todays highs at wave ‘2’ should offer resistance early on Monday.
A break below 31700 again will signal wave ‘3’ of ‘i’ is underway.

GOLD

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GOLD daily.

Could it possibly be?
Is the low of wave (v) already in place after that triple bottom created this week?
Well todays move higher is hinting at that possibility now.
And If gold can manage a bullish higher low next week,
then the idea that wave this long term wave (4) low is in place now will get a big boost in terms of probability at least.

The rally today is labelled as a developing wave (i) up.
Wave (i) has broken initial resistance at the wave (iv) high today,
but it must complete five waves up early next week.
And wave (ii) must hold the higher low above 1617 again in order to build this bullish setup here.
If this goes to plan,
then we may have a buying signal in place at the wave (ii) low next week.

Monday;
Watch for wave (i) to continue higher and complete wave (i) near 1700 again.
(ii) must then hold a bullish higher low as shown.

CRUDE OIL.

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CRUDE OIL daily.

The operating pattern in crude this week, has been as clear as muck as we say here in Ireland.
Each day brings a new invalidation and a new possibility opens up for this wave ‘”‘ pattern.
Todays is no different.

I am looking at the possibility of an ending diagonal pattern again in wave [c] of ‘2’.
The fact that we are seeing numerous three wave patterns build one after another does seems to fit that idea.
And if this pattern is correct for wave [c],
then we are likely to similar choppy and overlapping action next week also as waves (iv) and (v) top out near 95.00 again.

Monday;
Watch for wave [c] to track higher in a narrowing range to complete the ending diagonal pattern.
We are actually very close to hitting that minimum target for wave [c] today at the wave [a] high of 92.70.
So the end of this rally may even be closer than I am suggesting depending on how Mondays trade goes.

S&P 500.

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Todays spike rally may have completed wave ‘4’ of ‘i’ and the market seems to be ‘over’ whatever drove that rally in the first place now.
Maybe someone actually did the back of the envelope calculations on those employment headlines,
rather than just take it for granted.

If I am correct here,
then wave ‘i’ should push lower one more time to complete wave ‘i’ near the 3630 level.
A break of that level would be ideal,
but we will wait and see how it plays out.

If the pattern for wave ‘i’ and ‘ii’ is correct,
then I suspect next weeks action will be fairly uneventful as we should see a new low complete wave ‘i’,
and a rebound in a correction in wave ‘ii’.
As usual,
the real excitement will be reserved for wave ‘iii’ down.

Monday;
Watch for wave ‘5’ of ‘i’ to turn lower again and complete near the 3630 low of wave ‘b’.

A further rally above todays high will suggest wave ‘ii’ is already underway and that must complete below the wave (ii) high.

SILVER.

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SILVER daily.

Silver had a powerful rally today to even match the ripper from late September.
The rally today has invalidate the previous wave [ii] count.
But I am still leaning in favor of a correction higher in wave [ii] even after that rally today.
The overall pattern in wave [ii] has a nice internal count to it.
A three wave rise in wave (a),
a three wave running flat in wave (b),
and now a solid impulsive five wave rally in wave (c) to complete a 3,3,5 flat correction overall.
If I am correct here,
then we should see a rapid reversal on Monday to close out wave [ii] and begin wave [iii] down.

Monday;
the high at wave ‘4’ must hold at 21.23.
A break of that level will send me back to the drawing board again to see where we stand in the big picture.
watch for a break of 20.00 again to signal wave (i) of [iii] has begun.