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

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EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Ok it’s getting pretty tight on the wave (v) count now.
EURUSD turned slightly higher today and is holding above the wave ‘1’ low again.
This can still be viewed as a wave ‘2’ correction with another drop to come in wave ‘3’ of ‘iii’.
AS long as the price holds below the wave ‘ii’ high at 1.0855,
then I will stick with the main count here.
But if that level breaks,
then I will be forced to look again at the alternate count.

Monday;
A drop into wave ‘iii’ of (v) must happen early on Monday.
If that does not occur,
then we can look higher into wave ‘c’ of (iv) again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

A similar lack of clarity has entered the action today in cable also.
We have a lower high in place off that wave ‘ii’ level even now,
but the action this week has not favored the wave ‘iii’ of (iii) wave count on the short term chart.
I am now forced to give this market a day or so without making any calls,
in order to see if the fog clears and the pattern develops favorably.

Monday;
A quick turn around that drops below 1.2500 again will favor the main wave count for wave ‘iii’ of (iii).
A break of 1.2708 will force me to abandon this idea.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave ‘ii’ of (v) has arrived quicker than expected today.
The price has created a five wave pattern in wave ‘i’ at todays high,
and now we have a drop to a higher low again in wave ‘ii’.
Wave ‘iii’ of (v) should turn higher again on Monday.
and I am looking at the 152.00 area for wave ‘iii’ of (v) to top out.

Monday;
watch for the wave (iv) to hold at 149.21.
WAve ‘iii’ of (v) must turn higher again as shown.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW is holding below the recent highs as the market comes to the close this evening.
The price is only slightly higher this evening,
and the price action continues to grind with difficulty to the upside.
I was looking for a more impulsive move to complete wave ‘v’ of (v) this week,
but so far all we have is a very corrective looking pattern with a barely positive bias.

The larger wave (v) pattern requires one last pop to complete,
and it remains to be see if that can happen on Monday.
Of course I can see that possible bearish impulse wave pattern off the high,
but I will not favor this view unless there is a follow through to the downside early next week.
If nothing else changes,
then I will stick with this idea for the final move into wave (v) of [v].

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has finally come through and pushed higher into wave ‘3’ of ‘c’ of (ii).
the pattern for wave ‘c’ requires a five wave rally,
so there is more work to do here to complete the larger pattern.
Wave ‘4’ and ‘5’ should take one more step higher over the next few sessions.
And I am looking at a top for wave ‘c’ of (ii) at the upper trend channel line at about 2100 next week.

Tomorrow;
watch for wave ‘3’ to top out soon,
and wave ‘4’ to create a corrective decline back towards the 2065 level at wave ‘b’.
Wave ‘c’ should complete by the end of next week.
And then it will be time to turn lower again into wave (iii) if all goes to plan.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil has invalidated the previous pattern I showed for wave (v) blue.
The price rallied along with gold towards the upper trend channel line again today,
and now we are looking at a larger wave (v) to complete wave [c].
The new count for wave (v) is already far along in its development,
with wave ‘iii’ of (V) complete at todays highs.
Wave ‘iv’ and ‘v’ will carry the price back above 81.00 again to finish off the larger pattern.
and then later next week I will look for a reversal to begin wave [i] down.

Tomorrow;
Watch for wave (v)m to close out with as suggested.
A drop back to the 75.00 area again will signal wave [i] of ‘3’ is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The market pushed to a new high today and this confirms the wave ‘v’ rally is on.
The upper trend line is only a matter of a few dozen points away now,
so wave ‘v’ of (v) will tend to reach into that 5200 level to complete wave (v) of [v] of ‘C’ later next week.

Monday;
Watch for that wave ‘iv’ of (v) level to hold and wave ‘v’ to complete up near the target area.
Wave ‘C’ of (B) reaches equality with wave ‘A’ of (B) at the 5215 level.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

A rally in silver today as pushed the wave count slightly for wave ‘b’ of (v).
But the pattern for wave (v) is still valid here even with the stretch higher.
The top of wave ‘b’ pink reached into the previous wave ‘b’ level,
and now we have a small drop off as we hit the close.
Wave ‘c’ must begin on Monday to prove this count,
but I think this market will give us one more low in wave (v) before making a bigger attempt to break out of this correction in wave ‘2’ red.
We are close,
but not quite there yet I think.

Monday;
Watch for wave ‘c’ of (v) to fall in five waves and hit a low back near 21.50 to complete the larger corrective pattern.