The Jerusalem Light Festival 2016 is taking place from 25 May – 2 June.
I am giving a link to the Hebrew site, as the English website only wants to sell tourist packages.
Here you can see this year’s light shows and what you can expect to see:
The Light Festival is always great and I can only recommend it. Nevertheless, the alleyways and shows will be crowded and sometimes you cannot even get through. I am actually surprised that there are also light shows in the Muslim Quarter of the Old City as well as at Sha’ar Shechem (Damascus Gate). This gate is a popular terrorist spot but I assume that plenty of border police soldiers and cops will be there.