God Bless you all again tonight.

Firstly please forgive my email silence lately! I just have not gotten back into the habit of emails just yet, I will get back to you soon!

On to some charts.

The S&P 500 now has a negative total real yield. For one of the few times in 150 years, and the first since 1946, the dividend + earnings yield in S&P stocks is less than the rate of inflation.

Yep ~1941 equity valuations marked the absolute century long best time to buy equities. 2021 marks the absolute century long worst time to buy equities.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Well todays action brought another decline out of the triangle pattern for wave [iv].
And another hint towards wave [v] now underway.
this action does not fully confirm that wave [v] is underway as there is only a three wave pattern in place today.
I want to see a clear five wave pattern within wave (i).
A break of 1.17 again will seal the deal for wave [v] because that will break the previous wave ‘A’ in blue.

Monday;
Watch for wave (i) of [v] to complete five waves down and break 1.1700 again.

GBPUSD

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GBPUSD daily.

Cable is beginning to fall in line regarding the idea of wave [i] green.
We are a long way from confirming this idea yet,
but every day that price falls,
is a day closer to a five wave decline in wave [i].

Todays decline is viewed as the initial step lower in wave (iii) of [i].
If this is correct,
then wave ‘ii’ should hold at 1.3948
and wave ‘iii’ of (iii) should accelerate lower on Monday.

Monday;
Watch for the decline in wave (iii) to continue towards 1.3700 again in a five wave pattern.

USDJPY.

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USDJPY 4hr.

USDJPY daily.

I am going to concentrate on the alternate count again tonight,
because we are fast approaching the invalidation of the main count after todays rally.
If the price breaks the high of wave [ii] again at 110.60,
then I think the best interpretation is that wave ‘2’ is done,
and wave ‘3’ up is underway now.

The pattern so far off that 108.71 low has traced out three waves up with todays rally viewed as wave (iii) of [i].
Wave (iii) is tracing out a five wave pattern as shown in pink.

I suspect wave (iii) should push above 110.70 again to complete.

Monday;
Watch for wave a triggering of the alternate count with a break of 110.60 again.

DOW JONES.

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DOW daily.

Moving along with the wave (c) scenario today and wave ‘v’ of (c) has just tipped the index to another new all time high.
But that will not matter in a few weeks when wave (c) finally flushes out and we begin another impulsive decline.

I am still going with the idea that wave ‘v’ will extend itself and create a clear five wave pattern.
In that case we are in wave ‘3’ of ‘v’ today.
WAve ‘4’ and ‘5’ will top out this pattern next week and then I will look for a trap door type scenario again to begin a turn off the highs.

Monday;
Wave ‘v’ should stay in force for much of next week.
Once we get an impulsive drop beck below wave ‘iv’ at 34715 again that will be a good signal wave (c) has completed.

GOLD

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GOLD 4hr.

GOLD daily.

Gold is now firmly back below the 1800 handle again after that sharp drop today.
The price is actually close to invalidating the bullish alternate count also.
If we see a break of 1750 again that will do it for the alternate count,
and at that point the next support lies at 1674,
which marks the most extreme low so far of this long and painful corrective phase in wave (4) blue.

If wave (iii) of [v] is now underway here,
then we should see a follow through on Monday to break 1750.
And ideally wave (iii) should complete below that level.

Monday;
Watch for wave (iii) of [v] of ‘C’ down to break that key 1750 level again to set up for a drop into 1674 again.

CRUDE OIL.

CRUDE OIL 1hr.

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CRUDE OIL daily.

Crude took another step towards completing the bearish impulse wave forming off this weeks top.
If wave [ii] is now underway,
then we should see a three wave correction form early next week.

Todays decline is viewed as wave (b) of [ii].
And wave (c) of [ii] should rally into the 50% retracement level at 70.70 by next week.

Monday;
Watch for wave (c) of [ii] to close out a three wave correction at 70.70 by Monday evening.
And then we should watch for another decline into wave [iii] to begin by midweek.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Both wave counts are still valid here after todays new highs.
Wave ‘v’ can complete now in terms of both counts,
but I suspect we will see a push towards that 4500 level to top out next week.
That will fill the Elliott channel of the five wave pattern in wave ‘v’.
And also it will allow room for a five wave extension pattern to complete in wave ‘c’ or wave ‘5’ of ‘v’.

Monday;
Watch for wave ‘5’ or wave ‘c’ to complete a five wave rally within over the coming few sessions.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver came down hard today and broke last months lows at 24.48 again which has confirmed the short term pattern now.
This weeks declines are viewed as wave (iii) of [v].
Wave (iii) should trace out five waves down also as shown in the pink labels.
I would like to see wave (iii) break 23.75 which forms the lows of the previous decline phase.
And that will open up the lower target area 21.60 again.

Monday;
Watch for wave (iii) of [v] to fall in five waves into the support at 23.75.