Good evening to one and all.

The LORD’s blessings to you all tonight.

This is a holiday week in the US with Thanksgiving day on Thursday.
The Markets are closed on Thursday,
so I will be closed that night also!
Fridays will be quiet I suspect with many taking a long weekend.

But I will be back in action on Friday, so no change here.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The triangle idea for wave ‘iv’ was broken this morning with a break of 1.0280.
I maintain that this action is still corrective to the downside in wave ‘iv’.
And the triangle formed last week actually completed wave ‘b’ of ‘iv’.
This new pattern for wave ‘iv’ suggests wave ‘iv’ is complete at this new low,
and this should be followed by a rally up into wave ‘v’ of (iii) over the coming days.

Tomorrow;
The high of wave ‘iv’ at 1.0097 must hold for this pattern to remain valid.
Watch for wave ‘i’ to hold,
a rally back above 1.0350 again will signal wave ‘v’ has begun.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Despite a further decline today,
cable is holding above the recent lows at 1.1762.
I have changed the wave count for wave (iv) this evening to a complex flat correction.
In this scenario,
wave ‘b’ of (iv) traced out a running flat correction as shown.

Even if we do see a break to a new low again in wave (iv),
that fact will not completely rule out the larger wave count for wave [c].
And I am still expecting to see wave (v) turn higher this week to compelte wave [c] near the target at 1.2340.

Tomorrow;
The low at wave (i) must hold at 1.1598.
Wave ‘i’ of (v) will be confirmed with a break of 1.1950 again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has turned higher again today and we are getting close to completing a three wave rise in wave [a].
Wave (c) of [a] has done enough at todays highs,
but I am allowing for a further high in wave (c) with wave ‘iv’ and ‘v’ left to complete this three wave pattern.

Tomorrow;
If the price breaks above 142.50 again in wave (c),
I will look for a top to form in wave [a].
Then a turn lower into wave [b] should begin for the next few days.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

In general the action in the Dow has been corrective and undecided for over a week.
The market has been hovering around this 34700 level without anything to shown for it.
The main count has not been ruled out yet by a major decline,
nor has the pattern been confirmed by a rally into wave ‘5’ of ‘v’.
The price action does not even fit a developing triangle in fourth wave to be honest,
so I am forced to stick with this fifth wave of an ending diagonal until proven otherwise.

Tomorrow;
Of course a big decline back towards 31000 again will be enough for me to call wave [ii] complete.
I will just have to wait and see how that goes.

Watch for wave ‘5’ to trace out a three wave move higher to break 34000 again to complete this pattern.

I am hopeful this weeks action will finally break the back of this rally
and turn the market down into wave [iii].

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold came very close today to hitting that previous triangle high at 1729.
At the moment this level is offering support to the price,
and I suspect that wave ‘a’ of (ii) is pretty close to complete at this low.
There is no sign yet that wave ‘b’ has started,
but a push above 1750 again will signal wave ‘b’ is underway.
Wave ‘b’ should trace out three waves up to form a lower high below the wave (i) level.
And then later this week wave ‘c’ is expected to fall sharply in five waves to complete the larger wave (ii) pattern.

Tomorrow;
One step at a time.
Wave ‘b’ is now clear to rise in three waves and complete a lower high below 1786 at the very top end.
the previous wave ‘b’ in black suggests a top near 1760 for wave ‘b’ pink.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude dropped sharply to a new low today and then bounced right back out of the lows to end the day flat it seems!
That action has given us a new low for wave (iii) blue,
but the expected correction higher in wave (iv) has not changed.
I am looking for three waves up to complete wave (iv) below 84.00 in the next few sessions.
And wave (v) of [i] will have to wait until the end of this week.

Tomorrow;
Watch for wave ‘a’ to complete now and then turn lower early tomorrow in three waves.
Wave ‘b’ should hold above todays lows, possibly near the 78.00 level.
Wave ‘c’ is then set for a rally into the target area on Wednesday.

The low of wave (i) must hold at 84.00.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Again we have another dud session that offers very little to add to the picture here.
This wave count will be settled with a sharp drop back into 3690 again.
That will be enough to signal wave ‘i’ of (iii) is underway.
but at the moment there is nothing to suggest wave ‘i’ is underway.

We do have a small lower high in place off that wave (ii) top.
So we are not totally in the dark here.
But we do need a follow through move to confirm the short term pattern.
And that is what I am waiting for.

Tomorrow;
A break below 3860 again will favor the wave ‘3’ of ‘i’ count here.
Watch for wave ‘2’ to hold at 3895.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is showing a five wave pattern lower off the top at wave ‘4’ now.
I am going to hold out on proclaiming wave [i] is complete yet though.
The reason is this,
I want to see a break of the wave (a) high at 19.66 again to strengthen the case for wave [i].
And then I can look for a lower high in wave [ii] as shown to confirm the top is in for wave ‘4’,
and that wave ‘5’ down has begun.

Tomorrow;
Watch for wave (v) of [i] to continue lower to break the support level at 19.66.
The price has recovered off the session low this evening,
the action looks corrective to the upside,
so this may be a sign that wave (v) is about to extend lower as suggested.