Good evening to you all and the Lord’s blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The action this week has forced me to rethink what is going on here.
I am looking at a larger pattern for wave [ii] tonight.
This involves an expanded flat correction which is likely to fall again in wave (c).
Wave (c) should hit the low at 1/0998 again to complete the pattern.
And then I will look for a rally to begin in wave [iii] again.

Monday;
Watch for wave (c) of [ii] to trace out five waves down and complete by Monday evening.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has not played ball at all this week so I am less than confident of this pattern here.
There is a possibility that an impulsive pattern can develop over the coming week to rescue the overall pattern.
But if the price falls back below 1.3100 level again
that will demand a new short term count at least.

Monday;
Watch for the price action to develop into a rally in wave ‘iii’ of (i).
A break of 1.3437 again will signal confirm the pattern into wave ‘5’ has begun.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY may have extended a little higher this week,
but overall the momentum displayed in wave (iii) is now well diminished in wave (v).
So I am pretty confident that we will see a reversal begin into wave [ii] next week.
I am looking for a drop into the 117.00 handle again in wave [ii],
that will give us a target between previous 4th wave low and the 50% retracement level.

Monday;
watch for wave [ii] to begin with a break of 118.30 again.
Wave [ii] should trace out three waves down over the coming week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow has now filled a trend channel in wave (ii) after todays rally.
The price has peaked above the 62% retracement level also this evening.
And with that we have another significant lower high now in place.
If this bearish pattern is correct here,
then we will need a solid down week next week to confirm the bleak outlook.
Wave (iii) of [iii] should be a real relentless decline wave which can easily bring the market down below 31,000 again.

Monday;
Watch for wave (ii) to complete this correction soon.
the price must not rally above 35860 again at the wave [ii] high.
A break of 32320 again will confirm wave (iii) of [iii] is underway.
A break of 33000 again will be a big sign that the market has turned lower again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The small impulse wave idea is still on track in gold this evening.
The price has declined today and this can be viewed as wave ‘ii’ of (i) of [iii].
If this count is correct here,
then the price will hold above 1895 as wave ‘ii’ completes early next week.
And wave ‘iii’ of (i) will rally back towards 2000 again.

Monday;
Watch for wave ‘ii’ to hold above that critical low of 1895.
A rally into wave ‘iii’ should begin on Monday.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

There is a good chance that wave [a] of ‘2’ is now in place at todays highs.
The pattern off the low is more likely a three wave pattern.
And in that case,
we should expect a 3,3,5 internal pattern in wave ‘2’ to complete by the end of next week.
I am looking for a decline into wave [b] early next week.
And that should complete above 92.30 at the wave ‘1’ low.

Monday;
Watch for wave [[b] to begin and fall in three waves to a higher low above 92.30.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

If wave (ii) is the correct interpretation here, and I think it is.
Then we are perfectly positioned to complete that correction right now.
Three waves up to a lower high in place, and filled trend channel create the perfect corrective pattern.
All that is needed now is a reversal off this high to begin the long awaited third of a third decline.

Monday;
Watch for wave (ii) to form this lower high by Monday evening.
I would like to see an initial spike lower underway by Monday evening to begin wave ‘i’ of (iii) of [iii].
the price must hold below 4590 at the wave [ii] high.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver may have turned off a second wave lower high this evening.
If that is correct,
then we are looking at a possible third wave down beginning now.
And next week could turn into a pretty sharp decline phase overall.
Wave [iii] down could extend back below 22.00 easily before it completes.
And if we do get a larger decline next week,
that will provide the confirmation of the bearish count in silver that I have been looking for.

Monday;
Watch for wave (i) of [iii] to fall back below 24.45 at a minimum.
Wave (ii) will forma bearish lower high by midweek,
and then we should see an acceleration into wave (iii) of [iii] by the end of the week..