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

I think this is the most significant overview of what I think is coming over the next few years so I want to leave it up to give a backdrop to the waves counts.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

At the moment the triangle scenario for wave ‘b’ still fits the action today.
The pattern suggests wave ‘c’ down will begin on Monday and fall back below 1.0899 to complete three waves down in wave (c).

Monday;
one more day should be enough to complete wave (c) and [ii].
So I will be looking for a turn higher to begin in wave [iii] by midweek.
The price must hold above 1.0806 for this pattern to remain valid.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has traced out a three wave correction sideways to form a lower high below 1.3297 today.
This action is in line with the idea that wave ‘v’ down is now underway,
and that final wave down will break 1.2998 again in a five wave pattern over the coming week.
once this wave is done,
I will look higher again to begin wave ‘5’ up.

Monday;
The high of wave ‘iv’ must hold at 1.3297.
Wave ‘3’ of ‘v’ must now turn lower again possibly by the close this evening.
Wave ‘v’ should break 1.2998 at a minimum.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I have had a good rethink on this weeks action today,
and I have proposed another count on the short term chart tonight.
The rally this week has been large enough to consider wave ‘5’ of (1) now in place.
this is best viewed on the 4hr chart.
If this is true,
then we should see a large correction begin into wave (2).

So far today USDJPY is holding a lower high after a good impulsive move lower off the high.
It is a bit too close to call now,
but there is a reasonable chance that wave (2) will begin next week.
And we should see a three wave decline form over the coming month with a target near the 117.00 area at a minimum.

Monday;
Watch for wave ‘a’ of (2) to begin next week.
Wave ‘a’ should trace out three waves down at least.
but going on todays sharp reversal,
wave ‘a’ is lining up for a five wave pattern lower.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I am really waiting for the penny to drop in the stock market this week.
I have mentioned the merits of a three wave correction in wave (ii) over and over now,
so Im sure you are all sick of me saying it at this stage!

I have labelled the internal structure for wave ‘c’ this evening.
This weeks action has traced out an expanded flat wave ‘4’,
and a slight new high in wave ‘5’ of ‘c’.

The lower high in wave (ii) is still in place.
And we have a major momentum reversal in play on the 4hr chart as wave (ii) continued higher.

Monday;
As I mentioned this week,
all the jigsaw pieces are in place here.
And the picture is looking more like a third wave decline coming our way every day.

All we need is that initial impulsive move lower to kick off the decline.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

That three wave pattern higher is holding today,
I am not exactly wedded to the alternate idea for wave (b),
but I cannot take my eyes off it to be honest!

The drop in price today is not looking impulsive yet.
So the outlook has not changed here either.
I can still look to the main count and call for wave ‘iii’ of (i) to continue hgiher on Monday.
The only way this changes,
is if the price falls below 1910 again.
that will trigger the alternate count and then I can concentrate on wave (c) again.

Monday;
Wave ‘iii’ must make progress towards 2000 again as time is running out for that impulsive pattern now.
1910 remains the key level for the short term count.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has bounced this afternoon and that does call into question the wave (b) label I have shown here.
but I am willing to allow this pattern play out on Monday to either confirm or deny the labelling on the hourly chart.
A drop on Monday morning to break 108.00 again will signal wave (a) of [b] is underway,
and that wave should carry price back into the 100 handle again to complete a reasonable retracement in wave [b].

Overall this pattern is calling for a consolidation pattern to build over the next week to complete wave ‘2’.
And then after that,
wave ‘3’ down will be ready to roll.

Monday;
Watch for wave [b] to continue to trace out three waves down and complete the correction in the area of 100.00 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is holding onto the highs of wave (ii) today but the pattern is so very close to hitting that invalidation line at 4595 again.
So this is a market that is too close to call now.
I am still happy to call the pattern off 4107 a three wave correction higher.
An interesting fact is that the correction higher off that low at 4107 has now retraced 62% of the whole decline.
This is a typical level for a second wave correction to hit,
so the alternate count has merit here too.
And even if that alternate count is correct,
the outcome will be similar here with wave [iii] down expected to come our way.

Monday;
Watch for 4595 to hold.
wave (iii) down will be confirmed if we get a five wave decline on Monday that breaks 4300 again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver completed three waves up in wave [ii] with a throw-over the top channel line yesterday.
Today the price has dropped back into the trend channel again,
and there is an impulsive form to the action so far.
I want to see five waves down in wave (i) now and a break of the 25.00 level again as wave (i) completes.
Wave (i) should be done by Wednesday next week,
and if the pattern plays out like I have shown here,
then we are looking at a sharp drop into a third wave by the end of next week.

Monday;
the high of wave [ii] must hold at 25.83.
Watch for wave waves down into wave (i) as shown.