Good evening folks and GOD Bless you all tonight.

I will post the video tomorrow morning as I did not get a chance to record this evening.

Ok lets round up what happened today.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We now have a sharp move lower off the wave (b) high,
followed by a corrective lower high in wave ‘ii’ pink today.
The price has fallen off that wave ‘ii’ high again,
and if the short term count is correct,
then we should see an acceleration lower into wave ‘iii’ of (c) next week.

Monday;
Watch for 1.1874 to hold.
Wave (c) should continue lower to break support at 1.1694 at a minimum.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Wave [a] down seems to have reached a low
now that we have hit that support zone at wave (i) grey of the previous advance.
The decline has lost momentum today,
but has not turned higher into wave (b) yet.

Wave (b) us expected to begin early next week and we should see a rise in three waves back up to the 1.30 area.

Monday;
Watch for wave (a) of [b] to create a higher low above support at 1.2800 early in the week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is forcing great patience out of us these days!
The price has refused to budge today,
and with that non-action I can’t rule in or rule out any of the current wave counts.

The key lies in this price contraction that is ongoing.
A break above 106.55 will favor the bullish count as shown.
and a break of 105.20 will favor the alternate triangle wave [iv] idea.

We should clear up this confused action by midweek next week.
And as you know,
I still favor the bullish interpretation at the moment.

Monday;
Watch for wave ‘iii’ to come in a break above 106.55.
105.78 should hold.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Well the market has not ended the week on a bullish note for once!
And as far as the bearish wave count is concerned, this action is positive!

On the short term chart,
I am allowing for wave [ii] to trace out a larger three wave pattern as shown.
This evenings low can be viewed as wave (b) of [ii].
And wave (c) of [ii] should then rally back up to the previous fourth wave high at 28350 again to complete the correction.

A break of the low of wave [i] at 27180 will be a signal that wave [iii] down is already underway.

Monday;
Wave (c) of [ii] should reach the previous wave (a) high at 28206 at a minimum.
27180 should hold.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The triangle pattern in gold is continuing to hold this evening after the price fell again off the wave (e) high.
There is always a measure of doubt in the case of a triangle,
as we need to see the price drop out below the wave (d) low at 1905 to confirm the pattern.
Until that happens,
the wave (e) high should continue to hold at 1966.
And a break of that initial support will signal wave [c] down is underway.

Monday;
watch for wave (i) of [c] to continue lower to break 1905 to kick off the nexty leg down.

On the upper end,
a break of 1992 at the wave (c) high will invalidate this short term count.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has made a small higher low above the wave (b) low registered early today.
The price spiked higher off that low,
and this action does suggest wave (c) of [ii] is now underway.

I have labelled the action as wave ‘i’ and ‘ii’ of (c).
The pattern calls for wave (c) to trace out a five wave pattern higher over the coming days.
And the initial target for wave [ii] to complete lies at 39.60 or so.

Monday;
watch for wave (c) to continue into Tuesday.
Next week should complete a large degree bearish signal off the high with waves [i] and [ii] in place.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has given up much of the rally that came our way on Tuesday.
I am still allowing for wave (ii) to trace out a larger three wave pattern,
but I can’t rule out the idea that the top for wave (ii) is already in as per the alternate count.

Monday;
The preferred wave count for a larger wave (ii) is hanging on by a thread this evening.
but if the low at wave (i) holds and we see a rally back above 3375 again,
that will signal wave ‘c’ of (ii) is underway with a likely target at about 3450 at the upper trend line.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

After a three wave rise into wave ‘2’ yesterday,
the price has again dropped off that high today.
This action favors the idea that wave ‘3’ is now in force.
But to confirm that idea we need to see a drop below 2580 first.

In fact,
if this short term count is correct,
then wave ‘3’ must accelerate lower in the coming days.
Wave ‘3’ should push the price down into the area of the previous wave (A) lows at 23.00 before long.

Monday;
watch for wave ‘2’ to hold at 27.47 and wave ‘3’ of (C) to continue lower.

That wraps up another week, my how they fly!

Thanks to you all, you guy’s and Gal’s are a real blessing to my life for sure.

I will catch you in the video tomorrow,

I may try and do a live youtube stream for a change so if you are around you can join in the fun!

God Bless you all tonight.

enda.