Good evening folks, and may Almighty GOD bless you all tonight.

Funny thing happened last friday,

I did record a weekend video, but then I forgot to upload it to youtube!

I obviously thought that I did upload it but I stupidly just plain forgot it!

Anyway, here it is just in case you want to view the past now!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD dipped lower again today and has now reached the lower trend channel line of the declining channel.
I am counting the current wave as [iii] of ‘3’,
and todays decline is bringing wave (iii) of [iii] to a close.
We should see a correction higher begin in wave (iv) tomorrow.
And then further downside in wave (v) of [iii] later this week.

Tomorrow;
wave (iv) should hold below resistance at 1.1950.
The main fib target for wave [iii] lies at 1.1709 where wave [iii] reaches the 162% extension of wave [i].

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

We have a three wave decline off the high in place so far,
but the action todays suggests that we will see more downside again this week.

The price seems to be forming a triangle within wave ‘ii’ today.
once wave ‘ii’ completes at about 1.3870 again,
then wave ‘iii’ of (iii) should push lower towards the lower trend channel line at about 1.3600.

Tomorrow;
Watch for wave ‘ii’ to complete quickly early tomorrow,
Wave ‘iii’ of (iii) down to begin by tomorrow evening.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave (iv) ended up begin a very shallow affair today and the USD rallied again into the close this evening.
I am looking at this rally as the final push higher in wave (v) of [iii].
And we should see a correction begin in wave [iv] this week.

The rally in wave [iii] is reaching up into the area of the 262% extension of wave [i] now,
so I think it is wise to look for a correction to begin after such an extension.

Tomorrow;
Watch for wave (v) of [iii] to top out overnight.
The initial target for wave [iv] lies at 108.09 where wave (iv) lies.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I am forced to wait for another day to begin the big turn down!

The market has spiked to a new all time high today and with that the alternate count has been triggered.
there is a five wave pattern in place this evening for wave (c),
but the initial move off the low of wave (b) last week was quite choppy.
And this leaves open the possibility for another push into a new high again in wave ‘v’ of (c),
this will complete an extended wave ‘iii’ in the pattern.

Tomorrow;
Wave (c) has broken to a new high above the wave (a) high.
And also reached above 62% of the wave (a) rally.
So at this point the price has achieved the minimum expected from this new pattern.

I think we will see another breakdown begin this week,
it remains to be see if this will be enough to turn the tide.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has pushed to a new low today and now it seems that we have a five wave pattern in place for wave (v) of [iii].
Wave (v) is an ending diagonal at the moment,
so the door is now open for a corrective rally to begin in wave [iv] as shown.
Wave [iv] must hold below 1802 at the very upper end.
But I would lie to see it close out below 1740 at the previous fourth wave high.

Tomorrow;
Watch for wave [iii] to find a low nearby early this week.
Wave [iv] may even close out before the end of this week.

A note on the bigger picture.
On the daily count you will note that the previous fourth wave low at one lesser degree lies at 1450.
So there is a chance that wave ‘C’ of (4) makes it back into that price area to complete.
This is the the very lower end of where I expect this correction to end though.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The never ending rally in crude may have hit its zenith this evening.
the price gapped higher overnight and almost hit the 70 handle before turning lower again.
The move lower off the high is impulsive for sure.
So now its time to look for a break of support in a new bearish five wave decline again this week.

Tomorrow;
The first major low to watch lies at 59.00 at the wave [iv] low.
A five wave decline below that level will signal wave [5] down is beginning.

Watch for a break below the previous wave (b) high first.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Todays rally in the Dow is not confirmed by the S&P.
And in fact we have a decline underway off a lower high second wave today.

I have updated the count slightly this evening to show a series of impulsive waves off the high.
Wave (ii) of [iii] down should be completed off todays lower high.
And wave (iii) of [iii] will be confirmed tomorrow if we see a continued decline below 3722.

Tomorrow;
Watch for wave ‘i’ of (iii) down to begin with a break of 3800 again.
The price must hold below the wave [ii] high at 3914 from now on.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver finally dropped back below the 25 handle today,
the price is holding a slight higher low this evening,
So I am not sure if wave (ii) is complete at the overnight high,
or if wave (ii) is going to complete at larger three wave correction before turning lower again.
Both scenarios call for this decline in wave [iii] to continue this week.
And we will break the 23 handle again before wave [iii] is complete.

Tomorrow;
Watch for wave (iii) down to begin with a break of the wave (i) low at 24.80.