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

EURUSD

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EURUSD daily.

I can see a five wave pattern lower off the wave (iv) top now.
This action suggests wave (iv) is now complete and from here we will see wave ‘i’ of (v) take over.
Wave ‘i’ should drop into the 1.0200 area early next week and at that point we will have an idea of where the larger wave (v) will complete.

Monday;
Watch for wave ‘2’ of ‘i’ to form a lower high and then a five wave decline into wave ‘i’ will take over again with a target near 1.0200 later in the week.

GBPUSD

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GBPUSD 4hr.

GBPUSD daily.

The count for wave (iii) blue is now on the edge of invalidation after the price dropped close to the wave ‘i’ high at 1.2549 again.
A break of that level will signal that something different is going on here,
and I will then look at a possible three wave correction higher as the main alternative.

Monday;
At the moment,
wave ‘c’ of ‘iv’ is holding above that invalidation level and the internal pattern of wave ‘iv’ is correct as an expanded flat.

Watch for wave ‘v’ to push out above 1.2714 to bring this pattern back on track.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am still a little unsure of the end of wave (c) of [ii] this evening.
The price has rallied out of the lows of the week at 148.54.
but the rally is not in five waves yet.

Wave (i) of [iii] will be confirmed if we see a push above 152.00 again I think.
But I will have to wait for a few more days before we can get that confirmation.

Monday;
Watch for wave [ii] to hold at 148.54.
Wave (i) of [iii] should push higher in this scenario.

DOW JONES.

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DOW daily.

A pretty flat session today has brought the progress in the pattern to a halt.
There market has not dropped into the lower channel line near 42800 yet.
So I can’t bet on wave ‘iii’ down yet.

This weeks trade has moved in favor of the impulsive pattern lower so far,
but we are still a way off from completing five waves down in wave (i) blue.

Monday;
Watch for that wave ‘i’ low to hold at wave ‘iii’ develops lower.
A break of that lower trend channel line again will be a reasonable signal that wave ‘iii’ is complete.
The larger wave (i) requires a break below 42000 again.

GOLD

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GOLD daily.

Gold has broken the low of the previous wave ‘4’ pattern today which is a step in the right direction.

The price has completed three waves down now off that wave [b] top.
And the action is getting closer to building a five wave decline off the highs.

Wave ‘i’ down has not yet done enough to consider it complete,
so I am looking for another step lower into wave ‘5’ and a break of support at 2785 as wave ‘i’ completes next week.
If that happens,
then we can consider the next leg down into wave [c] in play again.

Monday;
Watch for wave ‘4’ and ‘5’ to step lower once again and complete five waves down at 2785.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has created a higher low above the wave (i) low at 68.30 today.
This action is labelled wave ‘b’ of (ii).
And wave ‘c’ of (ii) should turn higher again and top out above 71.00 again on Monday.
That will complete three waves up to a lower high in wave (ii).
Wave (iii) down should begin by the middle of next week.

Tomorrow;
Watch for wave ‘c’ of (ii) to complete this correction near 71.00 again early next week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The action is beginning to favor the alternate wave ‘ii’ count now with a spike higher this evening.
I am looking at a larger pattern within wave ‘iii’ down as a possibility tonight to account for this action.
Wave ‘iii’ will extend lower again early next week in this scenario.

Suffice to say, the main count has not broken yet.

The alternate count allows for a larger rally in wave ‘ii’ pink back towards 6000 again as shown.
And then I will look for wave ‘iii’ down to begin.

Monday;
Watch for wave ‘iii’ to continue lower in five waves and to break support at 5770.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is finding support at the previous wave (a) high this evening.
The action has traced out five waves down in wave ‘iii’ so far.
And that suggests wave ‘iv’ is set to correct sideways again early next week.
Wave (i) down as a target below 30.00 again,
and If this pattern is correct,
then we will see that happen by midweek.

Monday;
Watch for wave ‘iv’ to hold below the wave ‘i’ low at 31.90,
wave ‘v’ will then fall back below 30.00 again to complete five waves down.