God Bless you and good evening to you all!

https://www.zerohedge.com/markets/bull-mania-whos-left-buy

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The size of the spike today favors the alternate count at this point,
there is one difference though.
The decline into this weeks low was too big to stay with the same wave degree.
So tonight I have moved up the wave count by one degree.
now we have a decline in wave ‘1’ blue,
and an ongoing recovery in wave ‘2’.
Wave [c] of ‘2’ started today and that should continue higher in five waves over the coming week.

Monday;
watch for wave [c] to continue higher as part of an expanded flat or a running flat correction.

The price will hit 1.2155 at a minimum in wave [c] if this is a running flat.
If we have an expanded flat wave ‘2’,
then we will see a break above 1.2190.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is holding below the high at 1.3757 today after a three wave rally.
So the impulse wave off the high is still valid this evening,
even if it is only by a small margin.

The alternate view for the current action is a simple revert back to the ending diagonal idea with wave ‘iv’ and ‘v’ now completing.
Even this alternate count will not allow for much more that a quick break of 1.3757 and then return lower again to begin the decline.

Monday;
1.3757 is the level to watch.
A break of that will trigger the alternate count.
A drop below 1.3562 again will signal wave (iii) is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am pretty sure todays high has closed out wave (iii) blue at the upper trend line.
Wave (iv) should now fall in three waves at least,
todays decline is viewed as wave ‘a’ of (iv).
Wave ‘b’ and ‘c’ are left form Monday.
The initial target for wave (iv) lies at 104.96 at the previous wave ‘iv’ low.

Monday;
watch for wave (iv) to continue lower for at least Monday.
I want to see the price hold above 104.40 for at least until wave [v] green completes later in the month.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

We are flying by the edge of our seats now with the price holding just below an all time high at today high.

This count will easily be invalidated with even the smallest rally on Monday,
so it is critical that we see an immediate drop on Monday to save this bearish count.

The alternate count is shown on the 4hr chart.

This again involves a variation of an ending diagonal.
each internal wave is a three wave form.
Wave [i] is the longest and strongest.
And wave [v] will be the shortest.

This pattern will be fulfilled with a break to a new high.
But we could see a rally as far as the upper trend line to complete.

Monday;
I suppose we can expect a break to a new high to confirm the alternate count.
But a man can hope!

If the alternate count is confirmed,
then we wont have long to wait for anther chance at a turn.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

We have a three wave rally off the lows today.
I did want to see wave ‘iii’ fall a little more,
but todays action is still well within the realms of a correction within wave ‘iv’ of (iii).
So we can expect a decline again on Monday in wave ‘v’ of (iii) to break 1784 at a minimum and to complete wave ‘v’ of (iii).

Monday;
Watch for wave ‘iv’ of (iii) to complete below 1829 and then reverse lower to break 1784.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude should be drawing to a close in wave (v) of [v] of ‘C’ now.
The rally this week was impressive for sure,
but it does fit nicely within the five waves expected in wave ‘C’.
The market has again fulfilled the expectations for a three wave rally,
and now we need a turn lower to bring an end to this correction.

Monday;
We move into another week with the eyes on for a turn lower in crude.
Wave [v] of ‘C’ looks complete.
Watch for wave [v] to hit a final high in the coming week and turn lower in an impulsive form.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

There is a song in the LEGO movie called, Everything is Awesome!
And wow isn’t that a reflection of the reality of the world these days?
Because that is the message from the stock market right now.
Nothing to fear,
the future is bright!

There is one thing for sure in human history though,
we are the most wrong about the future path of events,
right at the largest inflection points in that path.

And the stock market right now is a supreme example of this contrarian viewpoint in action.

The reality is, everything is setup for a spectacular fall.

The S&P has reached higher today to push out to that new all time high in wave (v).
The price is almost up at the rising trend line.
and now we are in a good place to put in the top tick in this expanding diagonal wave [v] of ‘5’

Patience is my word for the year so far!

Monday;
Watch for wave ‘c’ of (v) to top out with a tag of that upper trend channel line.
We are in line to turn lower again next week to begin an impulsive decline in wave [i].
Wave [i] is expected to break below the lower trend line as shown.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

A three wave rise in Silver today has hit the area of the previous triangle within wave [iii].
If wave [iv] is now complete,
then we should see a decline into wave [v] of ‘1’ on Monday.
Wave ‘1’ should drop into support at 24.68 to complete.
And then we will be ready for a reversal into wave ‘2’ starting midweek.

Monday;
Watch for wave ‘1’ to complete with a break of the wave [iii] low at 25.87 at a minimum.