Good evening folks, the Lord’s Blessings to you all.

Game of Trades

This is NOT the time for long-term investors to FOMO into stocks Cash is now more attractive than stocks.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A small lower high this evening after a three wave rise off wave ‘i’.
the price is very close to that wave [b] high now,
So we need to see a sharp reversal lower starting Monday morning to suggest wave (i) is actually in play here.

Wave [c] will come,
and the target for that wave lies near 1.0300 again.
So there is a large move on the cards here if this pattern is correct.

Monday;
Watch for wave ‘ii’ to hold below the recent top at 1.0965.
Wave (i) should trace out five waves down next week,
with the initial target at the wave (a) high again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Take a look at the 4hr chart first tonight;

I have switched to the alternate count tonight for cable.
the price made another new high in this rally today,
and that move has pushed back into the previous wave [i] low at 1.2616.
That new high has invalidated the previous wave [iv] count because of that overlap of wave [i].

The rally off that recent low has now retraced 50% of the previous decline.
So the new wave count shows a ‘1’ ‘2’ impulse wave now completing.
the next leg down should be in wave ‘3’ of (3).
And that next decline should be quite something if this count holds up.

The actual internal pattern for wave ‘2’ is not much different to the previous wave [iv] pattern I was working with.
Wave [c] of ‘2’ is completing a rising wedge into todays highs.
the range has contracted all the way up for this pattern.
And now we have a three wave rise into the upper trend line for wave (v) of [c].
Its time to turn this pattern lower again.

Tomorrow;
Watch for wave [c] to complete soon.
The price should then fall back below the wave (i) high to signal wave ‘2’ is complete and wave ‘3’ has begun.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has been pretty flat over the last two days,
and with that I am suggesting that a larger wave (b) wave is underway here.
the sideways action is viewed as wave ‘b’ of (b).
And I am looking for a three wave decline in wave ‘b’ pin to complete on Monday.
wave ‘c’ of (b) should rally back above 149.75 again early next week to complete the pattern.

Monday;
Watch for wave ‘b’ to fall again on Monday to trace out three waves down near 148.50.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

If we look at the 4hr chart to start with tonight.
I have detailed the alternate count here for a change.
I know the market is very close to invalidating all my short term counts now,
but I still think there is value in this possible lower high scenario.
The upside momentum has slowed significantly and is on the verge of a reversal.
The pattern in this wave (c) rally is complete.
and of course sentiment is at an extreme again when you look at the positioning in the futures market above.

This may not be enough to save this short term count.
But it sure does point to a market on the edge.

The market has been on a rampage over the last month in wave (c) of [ii] in this wave count.
Wave [ii] traced out an expanded flat correction.
And this week we hit the 78.6% retracement level of that decline.
It is high time we get an answer to that extreme rally in the form of a decline in wave [iii].

Monday;
The first session next week will be critical to this wave count.
I am looking for the weight on this market to finally drag the pattern back to the bearish side again.
Wave (i) of [iii] is where I am looking.
So watch for that initial decline into wave (i) to begin soon.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I am not convinced by the pattern off the recent high yet.
There is a small three wave rise to form a lower high again today.
And that move does look corrective to the upside at the moment.
So I am going to allow for a possible drop on Monday to continue the larger pattern.

I am looking for a decline in wave (c) of [ii] next week to fall below the wave (a) low at 1931 at a minimum.
A break of 1965 again will favor that wave (c) count.

Monday;
Watch for wave [i] to hold again at 2009.
The price must turn down early on Monday to confirm this idea.
The alternate count here is very bullish in the short term.
But even if that count is correct,
I do expect that a corrective decline will take us lower again next week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

that spike rally in wave ‘1’ of ‘c’ has now been retraced by wave ‘2’ into the session lows today.
This pattern suggests a rally in wave ‘3’ of ‘c’ should turn higher again early next week.
And the minimum target fro wave ‘c’ lies at 78.43 at the wave ‘a’ high.

Monday;
I do expect that wave ‘b’ low at 73.80 to hold as the larger pattern completes now.
So watch for a five wave rally in wave ‘c’ to complete over the coming week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is actually holding below the previous high from Wednesdays session.
There has been very little volume today so the action has not been very meaningful
But I can hold onto hope here for the possibility that the top is finally in here for wave [ii].

At this late stage I am out of ammunition to explain the size of the rally in wave [ii].
The bullish sentiment in the market is not dead yet obviously.
Everywhere else is showing signs of cracking.
The economic recession is here in reality.

But the stock market is a different beast.
It will take a rapid descent into wave ‘3’ to finally kill it off!

Monday;
Watch for wave [ii] to hold below 4600.
Wave (i) of [iii] must turn lower next week to save this short term count.
the initial target for wave (i) lies at 4400.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver managed to break out above the previous wave ‘i’ today top
But that new high came after a three wave rally as shown.
It is very likely that this new high is part of an expanded flat correction in wave ‘ii’ pink.
So I am going to allow for wave ‘c’ of ‘ii’ to take over and fall back below the wave ‘a’ low at 23.24 again next week.
That action will complete a slid corrective pattern and then we can look for a wave ‘iii’ to turn higher later next week.

Monday;
Watch for wave ‘c’ of ‘ii’ to turn lower on Monday to complete back near the 23.00 handle again.