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

Here is the weekend video from earlier today.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We end the week in EURUSD without confirmation of a wave [iii] rally as I had expected.
the pattern off the low at 1.0806 still holds as a possible impulse wave higher.
And the action today continues to hold that position.
a new low followed by a spike back to flat on the day.
I am looking at the wave ‘iv’ level at 1.0940 again today,
and I would be reasonably confident of a turn up into wave (i) if the price rallies back above that level.

Monday;
Watch for wave ‘i’ to push above 1.0940.
The higher degree wave (i) should easily break the 1.1100 handle when complete.
1.0806 must hold.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has broken the minimum target level for wave (v) this afternoon.
The pattern in wave (v) has only traced out a three wave decline so far.
So I am looking for one last spike lower to complete wave (v) and then I will look higher again into wave [i] of ‘5’.

Monday;
Watch for wave ‘iv’ and ‘v’ to step lower once more and complete wave (v) as shown.
A break above 1.3166 will signal wave (i) of [i] is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Despite a spike higher again today the price has again turned lower this evening off that session high.
There is very little to report on here as I am still waiting a five wave decline to signal wave ‘C’ has begun,
until that happens,
I am just going to be repeating myself each night!
The outlook for next week is simple,
I want five waves down into wave [i] to begin the larger wave ‘C’ decline.

Monday;
Watch for wave [i] of ‘C’ to fall back below 123.00 again at the wave [a] high.
I am looking for a lower high to build by the middle of next week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I had mulled through the options today and with another three wave rally in place at todays high so far,
I am leaning towards the idea of a series of impulse waves down off the wave (ii) high.
Of course it will take very little to invalidate this count,
as a break of the wave ‘ii’ high at 35110 again will rule out this scenario.
If the pattern holds for the rest of the session this evening
and then Monday brings a sharp break to the downside again,
that will signal wave ‘iii’ of (i) is in play,
and we can expect a substantial move lower for the rest of that week.

Monday;
Watch for wave ‘3’ of ‘iii’ to take over and get the ball rolling again in wave (i) down.
A break of 34100 again will signal wave ‘iii’ is underway.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The triangle scenario for wave (b) is holding on by a thread this evening.
the price did push higher to almost create a double top with wave ‘c’ at 1949.50.
At the moment that wave ‘c’ high is still valid,
so the triangle stands for wave (b).
If the high at wave ‘c’ does break on Monday,
then I will be forced to rethink wave (b).
but I do think the larger pattern in wave [ii] is correct.
And in this scenario we will see another drop into wave (c) of [ii] over the coming week.

Monday;
Watch for wave ‘i’ of (c) to fall back into the 1900 level again to begin wave (c) of [ii].

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is behaving oddly for a supply constrained commodity this week.
The fact that the price is only barely holding support at 92.30 is telling.
And oil is ending the week below that psychological $100 level.

I am still leaning in favor of the large wave ‘2’ pattern this evening again.
And in this pattern I expect to see a rally back above 116.00 in wave [c] of ‘2’ as shown.
So that remains my base case for next week.

Monday;
Watch for an impulsive looking higher low to build in waves (i) and (ii) of [c].
I am looking at the wave (b) high at 104.83 to signal wave (i) is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is playing the same game as the dow tonight.
the news is tempted to call an end to the recent correction now,
but the pattern this week has raised the possibility of a roll over into a third wave down.
If we count todays action as a correction higher in wave ‘2’ of ‘iii’,
then we can easily see how a larger decline in wave ‘iii’ of (i) of [iii] can begin early next week.

I know I have been saying this all week,
but this pattern is at a critical point of its structure now.
A further decline below 4420 into wave ‘iii’ down can easily accelerate towards the 4200 level to complete wave ‘iii’.
As long as this possibility remains a reality,
Then I will keep shouting about it!

Monday;
Watch for wave ‘3’ of ‘iii’ to turn lower again and break that key level at 4420.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has been whipping around today to end the session flat and sitting below the high.
the pattern is corrective to the upside this week,
and I am pretty confident that we will see a third wave acceleration lower into wave ‘iii’ of (iii),

Monday;
Watch for the wave (ii) high to hold at 24.93.
WAve ‘iii’ of (iii) will be confirmed with a break of 23.96.