Good evening to you all,

the Lord’s blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Well the decline today is more than I wanted going by last nights count.
The low of the session this evening has now broken the wave (i) high at 1.0931.
And that has invalidated last nights count.

Overall I am looking for a rally in wave ‘A’ as shown on the 4hr chart.
Wave ‘A’ can trace out three of five internal waves.

There is a possible five wave rally in place into Yesterdays high at 1.1122.
And this now takes the wave [i] of ‘A’ label.
And the decline off the high is wave [ii] of ‘A’.

Monday;
If this count is correct,
then wave [ii] must hold above 108.06.
Watch for wave [iii] to rally again and break above 1.1122 to confirm the count.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Wave ‘v’ of (c) has now traced out an extended pattern after todays decline.
And if this pattern is complete here,
we should see a very early rally next week.
Ideally wave (i) will begin before the end of the session on Monday.

Monday;
Watch for wave ‘v’ of (c) to complete and then reverse higher again.
A break of 1.33 again should be enough to confirm the rally into wave ‘5’ has begun.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

This week has proved the triangle pattern for wave ‘4’ red.
And now with that strong rally in place,
I think we can call wave ‘5’ now underway.

Wave [i] of ‘5’ is now is now well underway.
The price has accelerated today in wave (iii) of [i],
and we can see a clear five wave pattern in wave (iii) today also.

Monday;
Wave (iv) and (v) will step higher again next week.
The price will decline first into wave (iv),
and then rally into wave (v) later in the week.
Wave (iv) must hold above 115.93 at the wave (i) high.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The action is very hard to nail down into a sure thing wave count this week.
I keep saying that both short term counts are correct here,
and they are!
Nothing has happened this week to completely rule out either view.

Both counts are calling for a second wave lower high to complete this week.
And both counts suggest that wave (iii) down should bring about a very substantial decline in the coming weeks.
It just has not happened yet.

The main count can be called an ending diagonal rally in wave ‘c’.
The amount of overlap in the rally off wave ‘b’ certainly lends itself to that view.

The alternate count is a second wave rally in wave ‘ii’ pink.
And if we see a sharp decline on Monday to break the low at 32332 again that will confirm the alternate count.

Monday;
Watch for wave ‘c’ to complete,
and wave ‘i’ of (iii) should then begin with another sharp decline off the 34200 area.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I am looking at a possible expanded flat wave (b) in gold today.
The price did drop to a new low today,
but the rebound is big enough to suggest that wave ‘c’ of (b) is now in play.
Wave ‘c’ should complete near 2020 again before dropping sharply into wave (c) next week.

There is a small chance that todays high has completed wave (b) already,
but that will require a very sharp decline below 1950 again on Monday to be valid.

Monday;
Watch for wave ‘c’ of (b) to complete a corrective lower high before turning lower into wave (c) again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The price range has contracted in crude today and I am looking at a possible triangle in wave (iv) of [iii] now.
This will require another step lower on Monday to complete five waves down in wave [iii].
and then wave [iv] and [v] will again cause a drop into the 90.00 area later in the week.
The price must continue to hold below 113.30 for this count to remain valid next week.

Monday;
Watch for wave [iii] down to complete by Tuesday evening at the latest.
The correction higher in wave [iv] will likely be another few days developing.
So five waves down into wave ‘1’ will take all of next week to complete I suspect.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

A similar sob story in the S&P tonight I’m afraid!
I am not sold on either of the counts after todays action.
The ending diagonal idea for wave ‘c’ is not as convincing here as it is in the dow,
so it is possible that wave (ii) is tracing out a triple combination correction.
That will allow for a three wave rally into wave ‘c’ early next week to complete the larger correction.

The alternate count is a little simpler to discern.
A sharp decline to break 4140 again will signal wave ‘iii’ of (iii) is underway.

Monday;
Watch for wave ‘c’ to push higher again in order to confirm the main count.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am looking at a possible triangle in in wave (iv) in silver this evening.
If this interpretation is correct,
it will simplify the the count a whole lot as I do not have to consider an overlap of waves (i) and (iv).
This count suggests another sideways day on Monday to complete the internal pattern of the triangle.
And that will be followed by a sharp decline into wave (v) of [i].

Monday;
Watch for wave (iv) to complete.
Wave (v) should break below 25.00 again with ease.