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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The correction in wave [b] is now taking a larger form after a false start into wave [c] yesterday.
The pattern in wave [b] is strange for sure,
but I think it can be viewed as a complex expanded flat correction at the moment.
If we see a deeper retracement into the wave [a] rally on Monday then the pattern in wave [a] might change slightly.
Overall though,
I think we will see a higher low complete in wave [b] by Monday evening.
and then a rally into wave [c] will continue on Tuesday.

Monday;
Wave [b] is now falling into the 50% retracement level at 1.1303.
Watch for the decline to halt near that level and then rally back into wave [c] beginning on Tuesday.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The ‘i’ ‘ii’ pattern to begin wave (c) is now in play this evening.
The price is declining again off a lower high in wave ‘ii’ of (c).
and once we see a break of 1.3490 again that should be enough to confirm wave (c) is underway.

Monday;
watch for wave (c) of [ii] to continue lower on Monday and trace out a five wave decline over the coming few days.
1.3558 is the minimum target for wave (c).

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is falling this evening to begin wave (c) of [ii].
Wave (c) should trace out a five wave decline over the coming week.
With the minimum target at 114.13, the wave (a) low.
The price must not break 113.47 at the wave ‘4’ low,
if we see a break of that level then I will be forced to go back to the previous wave wave count for wave ‘4’.

Monday;
Watch for wave [b] to hold at 116.35.
WAve (c) should now fall in a five wave pattern towards the target.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The price completed a lower high in wave ‘ii’ this afternoon at 35444.
Off that level we see a sharp reversal into a possible wave ‘iii’ of (i).
The acceleration of the decline fits with the short term wave count now,
as you would expect a more aggressive move in a third wave.

If this short term count is correct,
then we should see five waves down into wave (i) to continue early next week.
And then a further lower high to build in wave (ii) by midweek.

I am going out on a limb here,
but next week might see the beginning of a third of a third decline for the Dow.
If that happens,
WAve (iii) of [iii] has the potential to fall into the 32100 level.
This is where wave [iii] will reach equality with wave [i].
A fibonacci extension in wave [iii] could see a low at 29500 or there about.
So the risk here is real.

Now.
I am always aware that I can be very wrong at any time.
So I want to see this decline begin into wave [iii] next week,
otherwise I will have to consider the alternate more seriously.

Monday;
Watch for the wave ‘ii’ high to hold at 35440.
Wave ‘iii’ of (i) should fall into the the wave (a) high at 34480.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I think all you guys and gal’s know that I am a big bull in the long term on gold.
But before I jump on the bullish band wagon this evening,
I want to exhaust one more possible pattern for wave ‘D’ and ‘E’ of this triangle.

If you check out the 4hr chart.
You can see a pretty good three wave pattern higher into tonight’s highs.
the pattern even fills a trend channel at this evenings high.
If this interpretation is correct,
then we will see another three wave decline over the coming weeks into wave ‘E’.
And I think the price will end up back around 1780 again when complete.
Then I will be screaming from the rooftops ‘LONG GOLD’.

Monday;
The price must hold below 1877 to remain valid here.
Wave [a] of ‘E’ must fall again on Monday and break below 1810 to complete.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I have not changed my mind on the outlook for crude today even though we saw a sharp rally again.
The price has fallen back off the high of the session.
But I am not sure we have a top in place either!
I will just have to wait for more confirmation on Monday.

The pattern in wave ‘5’ blue can be viewed as either an ending diagonal,
or as tonight’s count shows,
a possible standard impulse wave with a truncated fourth wave correction.

My view is this,
crude has rallied long and far enough to complete a five wave pattern into wave [C] now.
And it is high time for some payback to the downside.

Monday;
I am going to be patient here before calling wave [i] down again.
So lets see what next weeks brings.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P took a step lower today also and this move is enough to consider wave ‘iii’ of (i) underway.
The price must continue lower on Monday to trace out five waves down in wave (i) as suggested.

I want to see wave (i) down target the previous wave (b) low at 4270 again before completing.
That will be a big enough decline to retrace most of the rally in wave [ii].
and a big enough decline to rule out the recent rally as an impulsive pattern to the upside.
At that point we can concentrate fully on the downside potential here.

Monday;
So far we only have three waves down in place.
Watch for wave (i) to continue to work to the downside and trace out that all important five waves down.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

If todays rally is in wave ‘ii’ as suggested,
then the rally must stop now and fall again early on Monday for this pattern to remain valid.
The price is still well within range to stick with the bearish outlook.
Only a break above 24.70 will rule out the larger bearish pattern.
At the moment I would like to see the high at wave [ii] hold at 23.70.
A break of 22.84 again will signal wave ‘iii’ of (i) is underway.

Monday;
Watch for wave ‘ii’ to hold at a lower high below 23.71.
Wave (i) of [iii] should continue to build over the coming few days.