Good evening to one and all.

The Lord’s Blessing’s to you all again tonight.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We have a possible five wave structure building to the downside now after another step lower today.
The internal pattern can be argued for sure,
but I am suggesting that we should see another drop into wave ‘5’ of ‘i’ on Monday to complete five waves down.
I would like wave ‘i’ to retrace deeper into the recent rally before correcting higher in wave ‘ii’.
This count suggests wave (c) will take over in full force next week with wave ‘iii’ of (c) dropping back below 1.0500 again.
And five waves down in wave (c) should hit the 1.0300 area by the time the pattern is complete.

Monday;
Watch for wave ‘i’ and ‘ii’ to complete a lower high well below the wave (b) top at 1.0929.
The larger decline in wave ‘iii’ should come later in the week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am suggesting a possible five wave decline is now underway into wave (i) of [c] in cable now.
The decline off wave [b] is not large enough to confirm the pattern yet,
That will come with a break of the wave (b) low at 1.2000 again,
but if we do see a break of the wave ‘iv’ low at 1.2178 again,
that will be a strong signal that wave (i) is underway.

Monday;
Watch for wave ‘i’ to complete with a break of the wave ‘iv’ low at 1.2178.
Wave ‘ii’ should then form a lower high below 1.2342 at the wave [b] high.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has rebounded off the lows of the session this evening.
Again,
this move is not larger enough to confirm the low of wave ‘2’ is complete at 129.66.
But the decline did really slow down into that low,
and so far the price is holding above the 78.6% retracement level.
This is a very deep retracement for sure,
but I think it is large enough to kill off any bullish sentiment that was built at the top of wave ‘1’.
And now this pair may well be in a good position to rally again.
Wave [i] should break above 135.00 again and that action will confirm wave ‘3’ is underway.
But if we see a break above 133.00 again at wave (iv),
that will favor the bullish count.

Monday;
Watch for wave ‘2’ to hold at the low of 129.66.
133.00 is the first target to signal that wave [i] is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow is holding above the wave ‘1’ lows again today,
and so far the action this week has not confirmed that wave ‘3’ of ‘iii’ is underway.
To be honest,
the action off the top of wave ‘2’ is difficult to nail down exactly.
The pattern off wave ‘2’ is suggesting a possible leading wedge to begin wave ‘3’.
But I can’t confirm that until we see a break of the wave ‘1’ low again.

There is of course the possibility that wave ‘2’ is still underway here,
and wave ‘3’ of ‘iii’ will have to wait for another few days to take over.

So at the moment,
the count is waiting for confirmation here.
A drop below 31400 again will signal wave ‘3’ of ‘iii’ is underway.

Monday;
Watch for wave ‘2’ to hold at 32766.
I would like to see an early decline on Monday to confirm wave ‘3’.
This pattern will allow for a significant decline next week if it takes hold.
Lets see how the early trade goes,
and if wave ‘2’ can hold at 32766.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is ending the week essentially flat.
the count calls for a further decline into wave ‘c’ of (ii).
And this is the most bullish scenario actually.
a solid corrective retracement will allow for another acceleration into a third wave again.
At the moment I am still waiting for that retracement in wave (ii) to allow for wave (iii) of [iii] to power higher again.

I mentioned in the video that I still cannot discount the more bearish alternate count which suggests wave [ii] green is still underway as an expanded flat.
That pattern could easily drop the price back to the 1750 area again if it takes hold over the next few sessions.
The amount of over bullish news stories in the last few days has really brought the alternate count back to mind.
That would really be an antidote to the elevated sentiment!

Monday;
Lets see if wave (ii) can complete a bullish higher low near 1880 again at the 62% retracement of wave (i).

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The bounce off the lows this evening has raised the possibility of a larger wave (iv) pattern in play here.
If todays lows at wave ‘i’ breaks on Monday again,
that will suggest wave (v) is still underway here.

But I cant rule out the possibility of that alternate count.
The market has really taken a beating lately,
sentiment is quite bruised and battered now!
So we could see a contrarian bounce into that larger wave (iv) pattern to ease that extreme sentiment a little,
before returning lower again into wave (v) of [iii].
We will see early next week which pattern fits the action better.

Monday;
the main count requires another decline to break 64.00 again to complete save [iii] green.
A break of the low at 66.86 again will favor the main count for wave (v).

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P experienced the same bounce this evening to retrace about 50% of the loss off the top at wave ‘ii’ pink.
I am suggesting a similar leading wedge pattern off wave ‘ii’ as the best fit pattern here,
this wedge pattern is the begining of wave ‘1’ of ‘iii’ now.
And if correct,
we should see wave ‘1’ fall back below 3800 by midweek at the latest.
This will confirm the top is in for wave ‘ii’,
and also that wave ‘iii’ pink is now underway.

I am looking for this rally to hold below the 4000 level early next week though.
If that happens,
then I will be more confident of the idea that wave ‘ii’ pink is complete.

Monday;
Watch for wave ‘ii’ to hold at 4040.
Wave ‘1’ of ‘iii’ must fall below 3800 again.
And wave ‘iii’ down will then be set to accelerate lower as expected later next week.

A whole lot depends on what happens early on Monday.
I would not be surprised to see some sort of emergency U.S Government announcement regarding deposit insurance over the weekend.
The main aim of that would be to halt any further bank runs and to stabilise the banks to avoid any further escalation.

We will see how that goes down in the markets on Monday and if this short term count actually holds or not.

Its going to be a very interesting week none the less!

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

A very weak pattern and another pretty flat end to the session only gives me more evidence that this rally is topping here.
I know this has gone on longer than expected,
but we are at the very end of this rally now,
not very the beginning of rally,
that much is pretty clear I think.
The question here is how far will wave [ii] retrace back into this wave [i] rally.
I am suggesting the previous wave (iv) lows at 21.45 as a starting target.

Monday;
Watch for wave [i] to top and reverse early next week.
wave (a) of [ii] should fall back into the wave ‘iv’ low at 22.13.