Good evening folks, the Lord’s Blessings to you all.

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EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD traced out a three wave decline on Thursday to complete wave ‘4’ of ‘c’.
I am now tracking a possible ending diagonal pattern in wave ‘c’,
so one last pop on Monday to complete wave ‘5’ will close out wave ‘c’ and wave (c).
That brings the end of the triangle wave [b] in green one step closer.
But the overall picture suggests a few more weeks of ranging trade before wave [c] down can begin.

Monday;
Watch for wave ‘5’ of ‘c’ of (c) to complete the rally and then turn lower into wave (d).
Wave (d) will take up all of next week at a minimum.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

A rally in cable today brings us close to the end of wave (c) of [ii] now.
Wave (c) has a five wave internal pattern now complete.
and the trend channel is almost closed out.
WAve ‘v’ should find a top on Monday and that will lead to a reversal into wave (i) of [iii] early next week.

Monday;
Watch for wave ‘v’ of (c) to complete the pattern in wave [ii] and then wave (i) down can begin.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY turned lower off the top of wave ‘i’ today.
This should be the beginning of wave ‘ii’ pink.
I expect a three wave decline in wave ‘ii’ early next week with a low forming in wave ‘ii’ near 154.50.
And then wave ‘iii’ of (iii) should turn higher again by the middle of next week.
That next wave up has the potential to be a nice solid rally.

Monday;
Watch for wave ‘ii’ to fall in three waves and form a higher low above 153.59.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow is holding just below the highs as I write this evening and the action looks corrective today.
Wave ‘iv’ of (v) is shown at the lows today and possibly a turn higher into wave ‘v’ is underway now.
This count will allow for a top to form on Monday in wave ‘v’ of (v).
And then it should be an easy job to invalidate the idea.
If we don’t see a sharp decline back below 39000 again in short order,
then I will switch to that alternate count for wave (iv) and (v).

Monday;
watch for wave ‘v’ of (v) to pop above 40000 again and complete the pattern in wave [v] green.

GOLD

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GOLD daily.

Gold is holding that three wave pattern higher in wave ‘b’ of (iv).
The channel has been filled at todays highs,
and this suggests wave ‘b’ is complete here.

This count will allow for a new high in wave ‘b’ as part of an expanded flat correction.
But the next leg down in wave ‘c’ should fall below 2281 either way.

Monday;
The pattern calls for a turn lower into wave ‘c’ of (iv) beginning next week.
And at that wave (iv) low we will see a very interesting buying opportunity.
For the moment,
we have a correction to complete here.
Wave ‘c’ should begin early next week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Wave ‘c’ finally made it above the wave ‘a’ high tonight and that completes the expanded flat correction.
wave ‘c’ can still move a little higher to create a clear break of wave ‘a’,
but the pattern in wave (iv) must hold below the wave (i) low at 81.00 at the extreme.
If this pattern holds,
then we can look forward to a turn lower next week in wave (v) of [i].

Monday;
WAtch for wave ‘c’ of (iv) to complete below 81.00 and then wave ‘i’ of (V) should drop back below 79.00 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Wave (iii) completed and extended rally at the highs this week.
and now it seems wave (iv) is underway.
Wave (iv) will trace out three waves down,
and we should see a retreat into the previous wave ‘iv’ lows at 5190 next week.
And then wave (v) will be ready to rally out to a new high and that will again complete a full pattern in wave [v] of ‘C’ of (B).

Tomorrow;
Watch for wave (iv) to trace out three waves down and fall back to 5192.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

You know,
I think this is really looking like a blow off top in a fifth wave after the action today.
The price went vertical and the internal pattern of the recent rally now has a five wave pattern in place.
If you take a look at the 4hr chart you can see that the price has now reached the upper trend channel line and wave [i] looks like a good fit here.
The momentum pattern in place now suggests there is not much left in the tank on the upside now.
And just like the top of wave (iii) which also had a sharp rally to complete that wave,
the reversal off that top came quickly.
So watch for something similar to complete wave (v).

Tomorrow;
Watch for wave (v) of [i] to complete.
A break back below the wave (iii) high at 29.79 will signal wave (A) of [ii] has begun.