Good evening to one and all.

The LORD’s blessings to you all tonight.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Wave ‘iii’ took another step higher this morning and completed at 1.0480.
And now I think we can say that wave ‘iv’ is underway with the sharp decline off the session high.
The price has already reached the previous corrective low made yesterday.
And I am calling this wave ‘a’ of ‘iv’.
With wave ‘b’ ans ‘c’ left to trace out three waves down overall.

There is a chance that the low made this evening will complete all of wave ‘iv’.
A sharp rally above the high at 1.0480 again will signal wave ‘v’ is already underway.

Tomorrow;
the early action tomorrow will decide which view on wave ‘iv’ is correct.
A corrective rise will favor the count I have shown,
while a sharp rise will suggest wave ‘v’ is underway.

1.0097 must hold.

GBPUSD

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GBPUSD 4hr.

GBPUSD daily.

I may be jumping ahead of myself here tonight,
but I am wondering if wave (iii) is already complete at todays high of 1.2030.
If that is the case,
then wave (iv) is now underway off todays top.
A three wave decline must hold above 1.1598 as wave (iv) completes.
And then wave (v) of [c] will be set to rally again by Thursday if all goes well.

Wave [c] will reach equality with wave [a] at 1.2340 again,
so that is the target for wave (v) of [c] to complete.

Tomorrow;
Mondays corrective low lies at 1.1710 in wave ‘iv’ pink.
This level should provide a support for wave (iv) to complete over the coming few sessions, depending how long wave (iv) takes.
Wave (v) should then carry the price up towards that target area.

The wave (i) high at 1.1598 must hold.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

A new low today rules out last nights count,
and wave ‘A’ gets moved down to the session low at 137.70.
The price did bounce off that low again this afternoon
so I am still running with the idea that wave ‘A’ is completing here,
and wave ‘B’ should now begin.

Wave ‘B’ should rise in three waves as suggested towards the 50% retracement level at 144.80.
Wave [a] of ‘B’ will likely break above the wave ‘iv’ high at 142.50,
to fill back into the mid point of wave (iii).

Tomorrow;
Lets see if the wave ‘A’ low can hold at 137.70,
and a higher low trace out with wave (a) and (b).

DOW JONES.

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DOW daily.

The action this week has been flat off the top created on Friday last.
The drop today is welcome for sure,
But I cant contemplate a reversal pattern yet,
unless we start to see previous lows taken out by an impulsive decline.

There is a chance this decline will develop impulsively tomorrow,
and if that happens I will look for a break of the wave ‘4’ low at 32410 as the initial signal that this market is finally turning.

this rally into wave (c) has been furious indeed,
and frustrating for me personally to be honest.
I keep pointing out the risks embedded in the market and economy,
but yet the rally kept on pushing higher regardless!

The market now shows all the signs of an exhausted trend.
But I will just have to wait now to see if a support will break to signal the reversal into wave ‘i’ is in play.

Tomorrow;
Lets see if wave ‘5’ of ‘v’ can finally give up and reverse.
Watch for that wave ‘4’ low to break first
and then we can work on wave ‘i’ down over the rest of this week.

GOLD

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GOLD daily.

There is not a whole lot that I can add to the count in gold today.
the price has fumbled around the 1780 level all day,
but as yet there is no sign that wave (ii) has begun.
I am looming for a corrective decline in wave (ii) to begin this week.
And the 50% retracement level at 1700 looks likely as an initial target for that correction.
If the price does fall tomorrow to break 1750 again that should be enough to signal wave ‘a’ of (ii) is underway.

Tomorrow;
We are close to a top in wave (i) but I cannot confirm that until we see a decline into wave ‘a of (ii).
Watch for wave (ii) to begin with a break of 1750 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The rapid spike higher this afternoon is actually in line with both the main wave count in wave ‘ii’ pink,
and the alternate count for wave (ii) blue.
That alternate wave (ii) can be counted as a running flat correction which completed at a lower high.
And now a decline begins in wave (iii) off that lower high.

Tomorrow;
As for the main count,
If wave ‘ii’ has completed at the lower high today,
then wave ‘iii’ down must continue lower for the next few sessions.
A break of 81.30 again at the wave [b] low will signal wave ‘iii’ of (iii) of [i] is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

A tag of that upper trend line has resulted in a small reversal lower today.
So the rally in wave ‘c’ of (ii) is at least taking a breather here.
Only a decline below the wave ‘b’ low at 3742 again will confirm wave ‘i’ is underway.
But if we see a lower high build off the 4041 high again tomorrow,
then we can begin to look seriously at that wave ‘i’ suggestion.

Tomorrow;
Wave (ii) has achieved enough by breaking the 62% retracement level and tracing out three waves up to at least begin the hunt for a top to form.
So lets see if a bearish reversal pattern can begin tomorrow off this top.
I would like to see wave (ii) complete by the end of the week at the latest.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is again back at 21.60 this evening which means we have basically traded sideways since the 8th of the month.
If wave [c] is now compelte,
then we should see this new decline continue for at least the rest of this week.
But I do want to see a more substantial lower high form in wave (ii) as shown,
before getting overly confident on the prospects of a rapid impuslive decline in wave [i] of ‘5’.

Tomorrow;
Much like the stock market I am waiting for the price action to confirm the end of a correction before projecting a big move lower.
Watch for wave (i) of [i] to fall back and take out those previous lows within that wave wave ‘v’ rally.
A drop into 20.50 again will be a good signal that wave (i) of [i] is underway.