Good evening folks and the Lord’s blessings to you.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We are almost there with this wave (i) rally off the recent wave ‘2’ lows.
I was hoping for a break of the 1.05 level at a minimum to signal that wave (i) is in play here.
And today we got that target.
The rally in wave (i) has not achieved a full retracement of the previous wave (v) decline,
so there is still an element of doubt here.
But I can say, so far so good.

Monday;
Watch for wave (i) to complete and wave (ii) to begin a correction to a higher low for the first half of next week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

cable has shifted out of a corrective rally into a possible impulsive rally today.
the price still only has a three wave pattern out of the lows at wave ‘2’.
but the price has gone far enough today to suggest a possible third wave in play here.
Wave ‘iv’ of (i) will ideally hold above 1.2253 at the wave ‘i’ high.
And from there a rally into wave ‘v’ will begin.

Monday;
Watch for a rally in five waves to form out of the wave ‘2’ lows at 1.2100.
Wave (i) will break the wave (iv) high at 1.2800 ideally,
but that does seem like a stretch goal at the moment.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The session low today did actually break the previous wave ‘3’ low,
so that is a completed five wave pattern in place for wave ‘c’ of (ii).
the rally out of that low is quite impulsive looking,
and this does suggest wave ‘i’ of (iii) is now underway.
Wave ‘i’ should push back towards 158.00 over the first half of next week,
and from there I will make some suggestions on where the larger wave (iii) will end up.

Tomorrow;
Watch for wave ‘i’ of (iii) to continue higher in five waves towards 158.00.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

A small window of probability still exists for this wave (ii) wave count.
the price was flat to down today,
so maybe we have hit a point of exhaustion after a long and extended rally in wave ‘c’ of (ii).
This wave count will be proved correct or invalid pretty easily next week.
A break to a new high will invalidate wave (ii).
while a sharp decline from here will suggest wave (iii) is underway.

Monday;
I want wave ‘i’ of (iii) to take over on Monday,
but the stock market does not care what I want!
Lets see if the action fall back into line with a third wave down.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Even if gold manages to make a new high next week,
I still believe this wave count fits the action in wave [b] green.
The only thing that changes will be the type of correction the larger wave ‘4’ is developing into.
A new high above 2790 will classify wave ‘4’ as an expanded flat.
and I will still expect a larger decline into wave [c] of ‘4’ as seen o the 4hr chart.

The wave count for wave (c) of [b] has not changed much today.
the wedge pattern is still in play here for wave (c).
and the highs reached today fit the mold of a fifth wave throw-over in wave (c).

Tomorrow;
Watch for wave (c) to [b] to top out and reverse with a sharp move back below the lower trend line to signal wave (i) of [c] is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil has slowed down in the descent into wave [i] green.
I would like to see a break of the wave [iv] lows at 72.45,
but even now we have a possible five wave pattern complete in wave [i].

Monday;
I am going to allow for one more drop to complete wave (v) of [i] and then we will see if a rebound into wave [ii] comes.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Would I be so lucky to see an actual top form in wave (v) of [v] at this early stage,
I doubt it,
but the possibility remains!

There is a five wave pattern complete in wave (v) blue even now.
And wave ‘v’ pink has a clear five wave pattern at the session highs.
So,
I will have to wait and see if the drop off this evening develops into something more substantial to suggest a decline in wave ‘i’.

Monday;
watch for wave (v) to show signs of a top by dropping back again in an impulsive manner.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The action in silver has not cleared up this pattern very much today.
I am looking at a possible wedge to complete wave ‘c’ of (ii) at todays high.
The price did spike lower off that high,
but I want to see a drop back below that wave ‘b’ low at 29.50 again to signal wave ‘i’ is in play.

Monday;
Watch for wave ‘i’ of (iii) to fall back below 29.50 to get this wave count back on track.