Hello all,

May you the LORD Bless you tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

This small wave (ii) correction is taking some time to complete for sure,
The price is basically flat on the week now,
and it looks like we will spend another day in wave (ii) if this interpretation is correct here.
The action today has not offered any more clarity on the patterns either so the main wave count is still the most fitting at the moment.

Monday;
Watch for wave ‘c’ of (ii) to complete below 1.1880 and then reverse into wave (iii) with a break of 1.1772.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The short term pattern in cable is less than perfect tonight also but as long as we have a declining pattern,
then I will consider wave (i) as developing.
If the price does break below the 1.3730 level on Monday,
then I will be more confident of this short term count.

Of course the price can be moving in an alternate pattern now also.
So if we see a break above 1.3905 again that will signal wave [ii] is still in force.

Monday;
watch for wave (i) down to continue and break 1.3730.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

We have a three wave pattern to the upside in place now after todays trade.
The price has formed a lower high below 110.69 and that suggests wave (ii) is now complete.
Wave (iii) down will get underway with a break of 109.52 again.
So I am exoecting wave ‘i’ of (iii) to break that low on Monday.

Monday;
Watch for wave ‘i’ and ‘ii’ to trace out another lower high before accelerating lower into wave (iii) of [iii].

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Another second wave is holding onto the market today but if this short term count is correct,
then we should see wave ‘iii’ of (iii) of [v] head higher again on Monday.

The market made a very slight new intraday high today,
but that has given weay to a sharp drop as we hit the close.
There is nothing much to read into this action really,
but if the decline does continue on Monday and we break the wave (ii) low again at 34115,
then we will have a reason to look at the alternate count again in a serious manner.
Until that point nothing is proven.

Monday;
Watch for wave 34707 to hold at wave ‘ii’ pink.
Wave ‘iii’ pink will be confirmed with another break to a new high.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has finally started its turn down from the highs of wave [iv] again.
The pattern is a little hard to nail down just yet,
but the price is beginning to spike lower again which is indicating an impulsive nature to this move.
The low of the previous triangle wave ‘iv’ lies at 1798 and I expect wave (i) of [v] to break that level at a minimum.
So we should see a bearish lower high complete by the middle of next week in waves (i) and (ii).
And once wave (iii) kicks off the price should break 1750 pretty quickly.

Monday;
Watch for wave [iv] to hold at 1834.
If wave [v] has now finally begun here,
then we can expect a few down weeks ahead of us into that final low at wave (4).

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has broken 70.30 today and with that action the bearish pattern just got another boost.
I have not switched to that pattern just yet,
but the next few sessions are going to be critical for crude.

If the price does not rebound in an impulsive manner into wave [i] on Monday,
and instead we get a corrective lower high build from here,
then I will have to switch to the alternate count and consider the top now in place.

Tomorrow;
Watch for wave [i] of ‘5’ to rally again on Monday and trace out five waves up.
A break above 75.00 again will signal wave ‘5’ is in force.

The bearish alternate count is sitting patiently in the wings now,
so the early action next week will prove critical to that count.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

This week has seen a series of endless corrections across the markets now.
And the S&P is no different!

I am viewing the correction off the top as wave ‘b’ of ‘v’ within a larger ending diagonal pattern.
The price has dipped below the lower trend line today,
but I think we will see a rally next week to push out to a new high in wave ‘c’ and complete this pattern in wave (v) of [v].
And then we can start looking lower again.

The only move that will bring forward the top here is if we see a decline below wave ‘iv’ at 4288 again.
That will break the ending diagonal pattern and open up the possibility that the top is in at the recent high.

Monday;
Watch for wave ‘c’ to complete with a break of 3400.
A break of 4288 will signal that the ending diagonal wave (v) is complete.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The triangle wave [iv] has worked pretty well today
with the price falling sharply out of that correction and now approaching initial support again this evening.
A break of that 25.50 level again will signal wave (i) of [v] is underway.
And then we can expect to see a correction higher in wave (ii) by the middle of next week.

Monday;
All eyes on the downside now and that lower target for wave [v] at 21.00 again.

Watch for wave (i) to break 25.50 again.
Wave [iv] should hold at 26.43 as wave [v] down develops.