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

Here is the video update from early this morning, a few things have changed from that update but not substantially so.

Some counts have actually taken a big step forward today, so next week is actually lining up to be a big one if I’m right on stocks here.

We will see soon enough of course!

Until next week, Adios Amigos,

enda.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We have a small corrective decline today that fits with the wave ‘ii’ count.
Wave ‘ii’ must hold above 1.0627,
and then wave ‘iii’ should push higher early next week to break the recent high at 1.0787 again.
That level is the minimum target for wave (v),
but I suspect we will see wave (v) complete above 1.0840.

Monday;
Watch for wave ‘ii’ to complete early on Monday and then wave ‘iii’ should begin by Tuesday at the latest.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Wave (i) did not reach as high as I was looking for,
and wave (ii) is only just holding above 1.2457 at wave [b].
So this count is very close to invalidation at the moment.
If 1.2457 breaks then wave [b] will extend into the 50% retracement level at 1.2378.
We should know by early Monday how this pattern breaks.

Monday;
The wave [c] count will be saved if the price breaks above 1.2666 again.
1.2457 must hold.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Take a look at the 4hr chart to start.
The recent decline is almost completely retraced after this weeks rally.
So the alternate count now shows a larger five wave pattern building in wave ‘5’ of (1).
With this weeks rally taking the wave [v] of ‘5’ of (1).

If this count is correct,
then we will see a new high on Monday in wave [v] above 1.3131.
But the new pattern in wave [v] should not take very log to top out even if we do see a new high.
Only a very sharp reversal will save the main wave count now.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The dow is stuck between both counts this evening without confirming the new or invalidating the old!
Stuck between a rock and a hard place.

The price is basically flat for the last few sessions as wave ‘iv’ and ‘v’ complete.
The main count calls for wave ‘v’ of (c) to break to a new high above 33455,
and then fall again into wave (i) of [iii].

There is a slight possibility that todays high is a failed fifth wave to top out wave ‘v’ of (c).
If this is correct,
then Monday will be an immediate down day to begin wave (i).

Monday;
If the price continues to fall in an impulsive manner on Monday and breaks 32499 again that will signal wave (i) is underway.
A break below 32000 again will confirm wave (i) is underway.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold came off the boil today in a possible wave ‘ii’ of (iii) correction.
If this short term count is correct,
then wave ‘ii’ should complete a higher low above 1829 early next week.
and wave ‘iii’ of (iii) of [iii] will take the price much higher over the following few weeks trade.

This wave count is sitting at a critical point in the structure now,
so we need to be aware that the probability for a very large rally is rising here.
And if the price breaks above 1874 again that will confirm wave ‘iii’ of (iii) is underway.

Monday;
Wave (ii) must hold at 1828.33.

The price has the potential to rally quite powerfully beginning next week,
so be prepared for wave ‘iii’ of (iii) to begin.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The previous version of the ending diagonal wave ‘C’ was broken today but all is not lost.
I am showing another variation of that pattern tonight with an extended wave [i] to begin the rally.
The internal waves that follow decline in size as the pattern rises,
this relationship actually illustrates the momentum divergence quite well.
Even though the price is rising,
then progress of the rally is diminishing.

Monday;
If this pattern is correct for wave ‘C’ of (2),
then we should see a top form early in the week as wave [v] tops out with a tag of the upper wedge line.
Another sharp decline to break 110.00 again will signal wave [i] down is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am looking at the possibility of a failed fifth wave here also tonight.
The price has not quite retraced all of wave ‘iv’ again,
but the decline is large enough off the high to suggest that wave ‘v’ is actually done at last nights highs.

If this count is correct,
then wave ‘i’ of (iii) will begin with a bang on Monday.
A break below the 4000 level again will be a strong signal that the top is in for wave (ii) and wave (iii) down is underway.

Tomorrow;
Watch for wave ‘i’ to break the low at wave ‘iv’ at 4072.
That raise the probability that wave (ii) has topped out with a failed fifth wave as shown.

There is a very real possibility that wave (iii) down takes over next week.
So watch out for a sharp reversal into wave ‘i’ of (iii) on Monday.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has traced out five waves up and broke to a very slight new high above 22.42 today.
That top was short lived though.
A three wave corrective pattern is now complete at todays highs labelled wave ‘4’.

The sharp decline off that high has broken back below 22.00 again this evening,
so there is a rising probability that wave ‘4’ is done,
and wave ‘5’ is now underway.

Monday;
I have labelled the drop today as wave (i) of [i] of ‘5’.
So we do not have confirmation that wave ‘5’ is underway yet.
But a five wave decline that breaks below 21.40 again will be a strong signal
that silver is heading for fresh lows to break 20.40 again at a minimum.