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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The drop into wave ‘c’ has hit the minimum target today by breaking the wave ‘a’ lows.
But I am looking for a drop into the lower trend channel line to complete wave ‘c’ of (a).
Waves ‘1’ and ‘2’ of ‘c’ are completing this evening,
and wave ‘3’ of ‘c’ will turn down again on Monday in this scenario.
Then we should see a final low in wave (a) near 1.1050 at the lower channel line by midweek next week.
If that works out,
then I will look for a reversal higher into wave (b) over the rest of the week.

Monday;
Watch for wave ‘c’ to trace out five waves down to complete near 1.1050 at the lower trend line.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

It looks like wave ‘a’ has completed three waves down at yesterdays lows now.
Wave ‘b’ has turned higher today and the initial rally is in wave ‘a’ black to begin three waves up to form a lower high next week as shown.
Going on the size of todays rally in wave ‘a’,
it looks like the larger wave ‘b’ pink will complete near 1.3370.
and from there I will look lower again into wave ‘c’ of (a).

Monday;
Watch for wave ‘b’ pink to trace out three wave up to a lower high near 1.3370.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The price reached a top in wave ‘c’ of (iv) today at 146.20.
And from there we see a turn lower again this evening.
I am suggesting the top is now in for wave (iv).
And wave (v) down can begin next week.
Only a break of 142.35 again will signal wave (v) is underway.
And that should happen early in the week I suspect.

Monday;
Watch for a five wave drop into wave ‘i’ of (v) to break 143.00 again and signal wave (a) is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has only managed a three wave decline off the top so far.
I was looking for a more convincing move lower today to be honest.
So,
at the moment this decline only classifies as a corrective move.

IF the market opens lower on Monday that will shift in favor of that wave (i) decline as shown.
Heck,
maybe we will get a black Monday event and we will see a drop back below 40,000 again to confirm wave ‘C’ is underway.
Anything is possible these days!

There is definitely a complete death in upside momentum at the moment.
This comes after registering another extreme high on the 4hr MACD.
All pointing to a turn in trend on the way.
But The proof is in the pudding as they say.
So we will see if wave (i) of [i] of ‘C’ can turn this market lower early next week.

Monday;
Watch for that wave ‘B’ high to hold and a five wave decline into wave (i) of [i] to begin with a drop into 40666.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

We came close to that initial target for wave (c) but the price bounced off 3258 today.
I am sticking with the idea that wave (c) is now in play here,
and we should get down to close out that trend channel again near 3150 as wave (c) of [a] finishes.

Monday;
Watch for a sharp move lower into wave (c) to continue early in the week.
If we hit that lower channel line then I can look higher again in wave [b] later in the week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I am pulling forward the top of wave [ii] green after todays rally.
The price hit a high at the 61.8% retracement level of wave [i] green.
And now we should see a drop into wave [iii] next week if this count is correct.
Wave (i) of [ii] should retrace most of that wave (c) rally.
so that gives us a target at the 58.00 level again.

Monday;
Watch for wave [ii] to hold and wave (i) of [iii] to turn lower as suggested in five waves to hit the 58.00 handle again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P broke out to a slight new high today also and now the gains have been reversed.
The same pattern is manifesting here as in the DOW.
Wave (v) of [c] has made a new high,
but the wedge pattern remains in place overall.
Wave (v) can still push higher to hit the equality level with wave [a] at 5785,
so there is no immediate requirement for this market to turn here,
but I wont complain if it does!

Tomorrow;
Watch for a top to form in wave (v) of [c] and wave (i) down to begin.
Wave (i) should fall back in into the 5400 level again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has done exactly nothing today,
so I can neither prove or disprove the wave count here!
I can say that the action looks quite corrective to the upside at the moment.
I would prefer to see a sharp move down pretty quickly on Monday to give a boost to this idea.
And if we see a drop below 30.78 again that will be a major boost to this pattern.
But as it stands,
I await confirmation.

Monday;
Watch for wave ‘ii’ to hold the lower high below 33.67,
and wave ‘iii’ simply must make progress next week.