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

I think I mentioned this exact idea a last week?

Goldman Economist Warns US Consumers Maxing Out Credit Cards Will Lead To Late 2022 Spending Collapse

Now you all know that I am a follower of the Messiah Yeshua, and you may or may not know that I have a real penchant for Biblical prophesy, It is a hobby and passion of mine.

So when I see headlines that reflect the biblical prophetic narrative it really makes me wake up and take notice!

Charles Nenner Warns “One Third Of Global Population Won’t Survive Next War Cycle”

Straight out of the book of revelation eh!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I think we can now call that rally off the low a five wave structure into todays highs.
Wave (i) did reach above the previous wave (iv) high at 1.0593,
so, if wave (i) is now complete at todays highs,
then we can expect wave (ii) to get underway possibly by tomorrow evening.
The low of wave ‘iv’ came in at 1.0458,
so that level offers a reasonable target for a wave (ii) retracement.

Tomorrow;
Watch for wave (i) to complete soon and the reverse in three waves towards 1.0460 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Five waves up in wave (a) is complete at todays highs also in cable.
The target area at 1.2637 marking wave (iv) did not break yet,
so there is a possibility that wave (i) will hit that area before correcting in wave (b).
So do not be surprised if this rally carries over into tomorrow before topping out wave (a).

Tomorrow;
Watch for wave (a) to complete by tomorrow evening,
I am still looking at that previous fourth wave high at 1.2637 as a potential target.

Wave (b) will then reverse lower and fall into the wave ‘iv’ level at 1.2329 early next week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Now we have five waves down in wave (i) complete and the fourth wave low at 126.90 is coming into view here.
Just like the other two USD cross markets,
this initial five wave move lower will be correct over the next few days.
And wave (ii) will probably push up towards 130.00 when complete.
We will probably have to wait until next week for that to happen.

Tomorrow;
Watch for wave ‘v’ of (i) to complete and then wave (ii) to turn higher again in three waves.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The market barely reacted to yesterdays sharp decline all day.
All that we could muster is a choppy sideways move near the lows.
Wave ‘i’ of (iii) has completed five waves down at the lows of the week.
So the market may be putting in a short term low before correcting higher into wave ‘ii’ as shown.

Tomorrow;
I am expecting wave ‘ii’ to begin soon,
and the 32000 level is a reasonable target for that correction to complete.
Watch for wave ‘ii’ of (iii) to get underway during tomorrow session.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I am bullish on gold in the long term,
and I feel like I must repeat that over and over again as a qualifier before I point out some bad news!

The rally off the low at 1786 is a clear three wave pattern at todays high.
Now,
this pattern has room to move here and can still develop into a larger five wave rally as I have suggested in the main wave count.

But I am watching the possibility that this is only a correction higher,
with the potential for another sharp decline to follow.
If 1780 breaks,
then I do have a n alternate bullish count with 1751 as key support.
So all is not lost if that low breaks.

Tomorrow;
I would like to see wave ‘iii’ of (i) push higher again to rule out my worries!
Watch for wave ‘ii’ to hold at 1807.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Tonight I have switched to the alternate full bearish count here!

The reason is that decline off this weeks high broke through the 105.00 level at wave (i).
and with that the previous count was invalidated.
There may be another count operating here that will carry the price higher,
but at the moment I can’t see it!

At this point we have an impulsive decline off a corrective lower high at wave ‘2’.
And that does suggest we are about to begin a larger degree third wave down.
I know this is a serious pivot from the previous count,
but I can’t avoid it after todays decline.

Tomorrow;
Watch for wave (ii) to complete below 113.00.
the larger wave [i] down should continue lower for a few more sessions at least.
So watch for wave (iii) of [i] to turn lower before the end of tomorrows trade.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has now created an unconvincing double bottom this evening!
It is unconvincing because the rebound off that low is very corrective looking at the moment.
So I suspect we will see another break of that 3859 low before wave ‘i’ of (iii) completes.
And then wave ‘ii’ will be set to trace out a three wave corrective lower high,
this should begin before tomorrows close.

Tomorrow;
Watch for wave ‘i’ to complete with a solid break of 3859.
Wave ‘ii’ should then correct higher and complete well below 4097 at the wave (ii) high.

There is a possibility that todays correction is wave ‘ii’,
but I favor a larger correction to be honest,
so that is a possible alternate count.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I have flipped back and forth on this silver count over the last few days,
but this evening I think the larger fourth wave interpretation is actually more fitting now.
So the rally off the low at 2044 is labelled wave [a] of ‘4’,
and it looks like this fourth wave is going to trace out a 5,3,5, zigzag correction higher over the coming days.
If wave [a] is now complete,
then wave [b] should begin tomorrow and fall back into the 21.00 area again in three waves.
So we are looking at a completed correction in wave ‘4’ by the end of next week if all goes well.

Tomorrow;
Watch for wave [a] of top out and wave [b] to fall back before the sessions closes tomorrow.
I would like to see wave [b] break the wave (iv) low at 21.28 at a minimum.