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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Well it looks like wave [b] is now complete at todays highs.
There has not been any impulsive move off that wave [b] high yet,
but if this count is correct here,
we should see a five wave decline begin in wave [c] on Monday.
If wave [c] reaches equality with wave [a],
then wave [c] will fall into the 1.1750 area to complete the larger wave ‘B’.

Monday;
Watch for wave [c] to begin with a break of 1.1800 again.
Wave ‘B’ should complete by the middle of next week,
and then wave ‘C’ should begin with a rally back above 1.1800 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I have shown a slightly different take on wave [ii] today.
The rally over the last few sessions actually traced out a five wave pattern higher into todays highs.
And with that action it is hard to call this rally as a correction higher.

The new pattern for wave [ii] includes a running flat correction in wave (b),
and this is followed by a five wave rally in wave (c).

Monday;
If wave [ii] is now complete,
then we should see a reversal begin next week down into wave [iii] of ‘3’.
The first signal that wave ‘3’ has begun will come as drop below 1.3725.

the high at wave ‘2’ must hold at 1.3984.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The lack of upward movement this week is really frustrating this bullish wave count now.
For the moment I am allowing for a possible third wave up to begin as shown.
But the low at wave [ii] must hold at 109.11 for this count to hold.

It will take a rally above 110.79 at the wave [i] high to confirm this bullish count
But if we see a break of 110.44 again that will be a welcome boost to this count.

Monday;
Watch for wave (ii) to hold at 109.61.
and wave ‘i’ of (iii) to push higher again to break 110.44.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Well the alternate count is getting closer to reality this evening,
but we still have no confirmation of a turn into wave (iii) down as shown in that alternate count.
I will remain skeptical until we see a break of that 34560 level again at wave (iv).
Until then,
the main count will continue to hold here.

As for the alternate count;
The spike lower today may be viewed as the completing fifth wave drop to wave ‘i’ pink in the alternate count.
If that is correct,
we will see a correction higher in alternate wave ‘ii’ early next week.

Monday;
I am going to allow for this main count to play out until it is invalidated by the action.

Lets see if wave ‘c’ can finally push higher and create that final high.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

If wave (b) is in place at todays high,
then we must see a sharp drop back below 1780 again on Monday to begin wave (c) down.
Todays decline is a little on the corrective side just yet,
so there is a chance that wave (b) will develop into a larger three wave pattern.

Monday;
I suspect next week will bring further downside into wave (c) of [ii].
Wave [ii] should be done by the end of next week,
and then I will be looking for a major move higher to begin a third of a third rally.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has basically gone sideways this week and moving within a pretty set range also.
There is a real possibility that wave (ii) of [c] has now completed a three wave flat correction at todays highs.
If this count is correct,
then wave (iii) of [c] will move lower again on Monday.
Wave (iii) should drop into the 66.00 handle again before correcting in wave (iv).

For the moment it is likely that the correction in wave ‘2’ is still developing here.
So wave [c] down must complete next week.

Monday;
Watch for wave (iii) down to trace out a five wave pattern lower over the coming week.
The price should hold below 70.00 as wave [c] completes.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Another spike lower today does favor the idea that we have a ‘i’ ‘ii’ pattern in place off the hig.
And this drop has opened up the possibility that we are moving off the high into a wave ‘iii’ decline now.
If this is correct,
then wave ‘iii’ should take over on Monday and push lower towards the 4417 level.
This is where wave ‘iii’ reaches 162% of wave ‘i’.

This count is very early days in its development right now.
but I am willing to give it a chance and see if it does in fact trace out a larger degree impulse pattern lower.
We will see soon enough.

Monday;
Watch for wave ‘iii’ down to continue lower in five waves.
If we do see a five wave decline next week again that will greatly increase the odds of this bearish count.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver could not muster a recovery today and for that reason I have switched to a larger count for wave (ii) as shown.
This is really a extending a lot of grace to the bullish interpretation here,
but todays decline can be viewed as wave ‘c’ of (ii) as long as the low at 22.86 holds.

The further down we go here,
the more likely that the bearish alternate count is actually correct.

And if the alternate count is correct,
then we will see an acceleration lower begin next week in wave (iii) of [v].
We will know early next week which count is more fitting.

Monday;
Watch for wave (ii) to complete with a drop in wave ‘c’ towards 23.30 again.