Good evening folks, I pray the Blessings of the Lord of Hosts over you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We have five wave down in place for wave [c] after another spike lower today.
The price is now approaching the 78.6% retracement level of wave ‘A’.
So now I really want this decline to halt and wave ‘C’ to begin.
The invalidation level for this count lies at 1.1664,
if we break that level next week,
that will force us to look again at the wave (D) decline.

Monday;
Watch for wave ‘B’ to complete above 1.1716.
Wave ‘C’ must rally back up to 1.1970 again in five waves.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

We are getting so very close to that initial support level now at wave (b).
That level lies at 1.3725,
and a break of that level will favor the bearish count.
And then we can look for a corrective lower high in wave (ii) to build next week.
Wave [iii] down should carry a long way down from here,
so if this count is correct,
we can expect a long decline coming our way beginning next week.

Monday;
wAtch for wave (i) to complete with a break of support.
The larger wave [iii] down will be confirmed with a break of 1.3600 again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Well USDJPY has made an impulsive looking pattern higher off the wave [ii] low today.
I am labelling this wave ‘i’ of (i) of [iii].
And if this is correct here,
then USDJPY is expected to rally strongly over the coming weeks as wave [iii] takes over.

Monday;
Watch for wave ‘ii’ to form a higher low above 109.10.
wave (i) will be confirmed with a break of 110.79 again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Well the options are still open here on both sides really.
I am hopeful that we will turn down into a third wave acceleration sooner rather than later.
But the market must break below the current support area.

The 34500 area seems to be holding the price at the moment,
but if we do see a large decline beginning next week,
I will be far more willing to call that top in place at the recent highs.

The short term count views todays action as an ongoing second wave correction in wave (ii).
The correction suggests wave ‘c’ of (ii) will rally again on Monday back towards 35000 to complete the pattern.

Monday;
Watch for wave ‘b’ of (ii) to hold at this evenings lows.
A rally back into 35000 again will complete the correction in wave (ii).
Then I will look for a decline to begin in wave (iii).

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The short term pattern in gold is looking pretty bullish now.
The long awaited higher low pattern off the wave (4) low is now coming to an end.

We have a five wave pattern higher in place at wave [i],
and now a three wave decline closing out in wave [ii] green.
Wave (c) of [ii] is close to completing a five wave decline as shown.
And if we see a new low in the 1730 area forming early next week
I will then be looking for a large move higher to begin wave [iii] of ‘1’ of (5).

If this pattern holds,
then things are about to get exciting here.

Monday;
watch for wave ‘v’ of (c) to complete with a break of 1745.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The correction in crude has continued today,
and I am now looking at a possible (i) (ii) pattern in place to begin wave [iii] up.
This would explain the slow action pretty well,
and the count then suggests a rally is coming our way in wave (iii) of [iii] of ‘3’.
This one could be quite powerful.

Monday;
Watch for wave (ii) to hold above 69.78.
Wave (iii) should break 74.00 at a minimum.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

After that lurch down this afternoon to a new weekly low,
I must admit that the impulsive pattern is building quite well now.
We may have a five wave decline in place at todays lows.

If this is correct,
we should expect a three wave pattern higher to build over the coming few sessions in wave (ii).
4490 marks the 50% retracement level of wave (i) down.
And this is also the area of the previous fourth wave at wave ‘iv’ pink.

If I go by last nights count,
then wave (ii) is already in place and we can expect a sharp decline into wave (iii) beginning very soon.

Monday;
Watch for wave (i) to complete and then a rally in wave (ii) should begin early next week.
4490 is the level I am watching.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has indeed moved sharply lower again today,
And I can count a five wave pattern lower now in wave (iii).
I am looking at the 22.00 level again as a target for wave (iii) to complete.
but that is just a suggestion,
wave (iii) of [v] could extend an blow right through that support.
Wave (iii) reaches 162% of wave (i) at 21.55,
so that level is also a reasonable target.

We will see soon enough.

Monday;
The overall pattern in wave [v] seems to be moving along quite well now,
and I think next week will be enough time to complete the decline in wave [v].

Watch for wave (iii) to find a low between 22.00 and 21.55.