Good evening folks, may the Lord Bless you all tonight.

Today my little boy came back home from hospital.
It was a pretty hard time for him and his mother this week.
he suffered some sort of lung infection and possible asthma attack.
Tubes and oxygen and lines and inhaler meds were the order of the week.

They were stuck inside the hospital room for three days and nights.
And that really cramps the style of a toddler for sure!

But today the boy is back in town again!
And of course the house is now loud and messy again.
cest la vie eh!

I am glad he is back.

Monday is labor day in the U.S,
and the market is closed.
So I will be back on Tuesday again to see where the patterns are going.
Ok,
on with the show.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I am willing tonight to move up the scale on the hourly count.
Also the count in wave ‘A’ has moved into a possible five wave pattern now.
I am not sure if that pattern is complete just yet either.

The fact that we have hit the previous fourth wave area is a hint in that direction,
but I have an open mind on this.
Until we see a clear move to the downside again in wave [a] back into the 1.1800 level again.
then I will call wave ‘B’ underway.

Tuesday;
At this point it is just a matter of when wave ‘A’ tops out,
A spike lower off this high to break 1850 again will be a good initial signal that the top is in.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable broke that wave (b) high today and with that we have confirmed wave (iii) up.
Also the larger count for wave [c] and wave ‘2’ is pretty much confirmed now also.

Wave (iii) should trace out five waves up.
Im not sure we are there yet.
I am labelling tonight’s top as only wave ‘iii’ of (iii).
And this suggests another leg higher to break 1.39 again to complete wave (iii).

Tuesday;
Watch for wave (iii) to top out and then we can expect a drop in wave (iv) to take us into midweek next week.
I will go out on a limb and suggest wave [c] and ‘2’ will be done by next Friday.
And then I will look firmly lower again into wave ‘3’ down.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Todays action in USDJPY has triggered the alternate count on the short term chart.
So now I am looking at a decline in wave (c) of [ii] over the coming days.
Wave (c) should trace out five waves down.
And going by todays action I think we might be dropping now in wave ‘iii’ of (c).

Wave [ii] must complete above 108.71.
A break of that level will signal wave ‘2’ is still in force.
I would like to avoid that if possible!

Tuesday;
Watch for wave (c) to continue lower in five waves as shown on the short term count.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The pattern is building up pressure this week by travelling sideways in a range bound fashion.
I am suggesting this pattern is tracing out wave ‘b’, wave ‘1’ and wave ‘2’ of ‘c’.
This has caused a tight range in the action.
If this is correct,
it will lead to a rally in wave ‘3’ of ‘c’ over the coming week or so.
That final burst higher will complete wave ‘c’ of (v).
And that will complete an ending diagonal in wave [v] green.
What happens after that is critical to my whole thesis here.
And I think it will be critical to our whole economic lives and beyond.

We will see.

Tuesday;
Watch for wave ‘b’ to hold.
Wave ‘3’ of ‘c’ should push to that new high I have been looking for this week.

The wedge is getting tighter above us here,
there is no rule to say that we need to hit it either.
A new high will satisfy the pattern.
Lets see how far wave ‘c’ will go.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

You will notice I am taking a different tack here tonight.
There is a strong chance that the whole rally off the extreme low last month is actually all of wave [i].
A five wave pattern actually works quite well into todays highs.

The action today confirmed that triangle pattern in wave ‘iv’ of (v).
And that spike higher has filled out a five wave pattern in wave (v) of [i].

I did mention that I was not qite so happy with the idea that wave [ii] in the previous count was very shallow,
and I think this new count actually explains the reason,
because wave [ii] has not happened yet!

Tuesday;
Watch for wave (v) of [i] to close out.
Wave (a) of [ii] should begin next week.
And the minimum target for wave [ii] lies at 1779.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has dropped in three waves off this weeks high so far.
This move is counted as wave (iv) of [i].
Wave (v) of [i] should push higher early next week and break 70.44 again to complete wave [i].
Then we can expect a drop in wave [ii] later next week.

I have not abandoned the alternate count at all yet.
There is still only three waves up off the wave ‘2’ low,
so that alternate expended flat idea for wave ‘2’ can still work.
If we break below 68.54 again at the wave (i) high that will favor the alternate count.

Tuesday;
Watch for wave (i) to hold at 68.54.
WAve (v) should begin on tuesday and complete the larger wave [i] by Tuesday evening.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I dont really have anything to add to this pattern now.
The overall pattern in this latest rally is different than the DOW.
A solid ending diagonal pattern in that market is giving a clear signal as to what needs to happen next.

The S&P however is different,
There is not much room for more upside in terms of this pattern.
In fact I would say that the only option left here is a sharp move down.
If we do not get that next week,
then I will have to rethink what is happening here.

Tuesday;
Watch for a move lower to begin off this high.
I can only suggest the previous fourth wave low as an initial target.
But I am really looking into the dark here!

Lets see if it happens!

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Well,
Silver proved me wrong this week that much is for sure.

You all know that I am a long term bull in silver.
But I did not think that the recent low had completed that corrective pattern in wave [2].
Todays rally has really leaned in favor of that idea now.

I have shown a possible extension developing in wave (iii) of [iii] today.
The vertical spike today is read as wave ‘iii’ of (iii).
If the 24.25 level holds early next week,
then we should see a sustained rally in silver here.

I will hold up one caveat here,
if the price breaks 24.00 again,
then all bets are off on this bullish pattern as that will break two previous highs.

Tuesday;
Watch for wave ‘iii’ and ‘iv’ to hold above 24.25.
WAve (iii) up should push above 25.50 again.