Good evening to one and all.

The LORD’s blessings to you all tonight.

2008 blue vs 2022 black comparison.

I think you get the picture!

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Wave ‘iv’ continues along its corrective path today.
We have a three wave correction to a lower high in place now.
I have labelled this wave ‘b’ of ‘iv’.
Wave ‘c’ of ‘iv’ has turned lower off the wave ‘b’ high,
so we should see further declines tomorrow to complete wave ‘c’ and wave ‘iv’.

Tomorrow;
Watch for a break of the wave ‘a’ low at 1.0279 as a minimum target for the wave ‘iv’ correction.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The correction theme is in play here in cable also.
Wave ‘b’ of (iv) stumbled sideways today and has completed a lower high as suggested.
If wave ‘b’ is now done at todays high,
then wave ‘c’ should continue lower towards that target low at 1.1708 at the previous fourth wave.
Once this three wave correction is in place tomorrow,
then I will begin looking higher into wave (v) of [c] over the following days.

Tomorrow’
Watch for a break of the wave ‘a’ low at 1.1790 as an initial target.
Wave ‘c’ of (iv) must hold above the wave (i) low at 1.1598.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is in the process of turning higher into a larger wave ‘B’ as shown.
But it is taking time to recover from that shock decline experienced last week.

There is a small inverse head and shoulders visible off the low at wave ‘A’.
I have labelled this as wave (a) of [a] now complete.
If this count is correct,
then we should see a continue rise in three waves over the coming days to complete wave [a] in the area of 142.50.

Tomorrow;
Watch for the wave ‘A’ low at 137.70 to hold.
Wave (b) must complete above that level.
And wave (c) is expected to rise in five waves towards the 142.00 area over the coming week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Maybe I can’t help myself!

We do see a very weak retracement higher off Tuesdays lows today.
And that has created a small lower high as we hit ths close this evening.
Waiting for this market to reverse in an impulsive fashion has been a lesson in patience for sure.
And again tonight we have a maybe moment in play here.
A drop below the initial support at 32400 again will be a big boost in favor of a top in place for wave [ii].
So I await tomorrows trade to see if we some confirming price action on the chart.

Tomorrow;
Watch for a possible decline off this lower high to signal wave ‘i’ of (i) of [iii] is beginning.
Initial support at 32400 is the key level here.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold registers its fourth consecutive sideways day today.
And with that we have a major momentum divergence on the hourly and 4hr charts.
Wave (ii) is coming to us soon,
that much seems plain to see now.
And when wave ‘a’ of (iv) hits,
I suspect it will be a pretty sharp decline to counter that rally we saw last week.
I am watching the 1728 level at the previous highs to offer support to wave ‘a’ of (ii).

Tomorrow;
Watch for an initial spike lower to begin wave ‘a’ of (ii).
A break of 1750 again should be enough to signal wave (ii) is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I just want to mention the alternate count on the 4hr chart to start with tonight.
This count is still a viable option here even as crude has take a few hits this week.
Just keep this alternate in the back of your mind,
especially if we see the price stabilise near the 80.00 handle over the coming few days.
A higher low above 76.00 at wave ‘1’ will favor the alternate count for wave ‘2’.

As for the main count.
Another decline today is in favor of the idea that wave ‘iii’ of (iii) of [i] is now underway.
This wave ‘iii’ down must continue towards the 81.00 area to confirm the pattern.
And wave (iii) itself should find a lowe near 80.00 when complete.

Tomorrow;
Watch for the high at wave ‘ii’ to hold at 88.00.
Wave ‘iii’ down should continue lower and complete five waves near 81.00 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is also showing that small head and shoulders building off the recent high at wave ‘c’ of (ii).
I have now labelled this decline yet,
but if we do see a break back below 3800 again that will be a clear signal that the top is in for wave (ii).
At that point,
the potential for wave ‘i’ of (iii) to fall sharply again and break the wave ‘b’ triangle low at 3740 will be quite high.

Tomorrow;
Watch for this decline in wave ‘i’ to pick up momentum before the end of this week.
As I said,
a break of 3800 will open the door to this bearish pattern in wave (iii) down.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The potential for an impulsive decline is building here in silver also.
We have a lower high in place off the top.
There is not a clear five waves pattern in place off the top yet,
but I have shown a possible wave ‘i’ and ‘ii’ pattern to begin theis next leg down already in place here,
so we will see soon enough if this develops into a five wave decline in wave (i) this week.

Tomorrow;
Watch for wave (i) of [i] to be confirmed with a break below 20.50 again as shown.