Good evening to one and all.

The Lord’s Blessings to you all.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD failed at the wave ‘b’ high today and dropped off that high with a reasonable spike lower.
The pattern in wave ‘c’ has been tested today,
and so far the price is holding a lower high in wave ‘2’.
While this action has not confirmed wave ‘c’ down yet,
I do still think a five wave decline into wave ‘c’ is the best fit pattern overall here.

Monday;
Watch for wave ‘3’ of ‘c’ to fall back below wave ‘1’ at 1.0441 again to confirm the larger pattern.
The target for wave ‘c’ lies at 1.0222.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am considering a different pattern for wave (v) of [c] tonight after a very choppy weeks action.
I am sticking with the idea that wave ‘A’ has pretty much topped here,
and wave ‘B’ should be ready to turn lower with large three wave retracement.
The topping pattern in wave (v) of [c] proving the main difficulty here though.

If I consider an ending diagonal in wave (v).
Then todays top can serve as the end of wave ‘v’ of (v) of (c).
The high of the session today pipped above the previous wave ‘iii’ top.
And with that we have a reasonable candidate for a completed pattern.

Monday;
There is still no confirmation that wave [a] is underway.
The action this week did complete a lower high,
but we did not get any follow through to the downside.
So I will have to wait for next week to see if that initial decline comes in to begin wave (a) of [a].

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

While USDJPY did make a new low for the the week today
this has not ruined the overall pattern in play for wave [a] green.

The triangle wave (b) which I was considering last night was ruled out,
but wave (b) has a three wave corrective pattern in place instead.
The spike off todays lows should begin wave (c) of [c] as shown.
A break above 137.66 again will confirm this wave count.

Monday;
Watch for wave ‘i’ and ‘ii’ to create a higher low above 135.63.
Wave (c) should trace out five waves up overall and top out near the 139.00 handle again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Wave ‘4’ of ‘i’ took longer than expected to complete over the alst few days,
but the market is tumbling again this evening and There is now a good chance that we will complete five waves down in wave ‘i’ early next week.
In an ideal world, I would love to see wave ‘i’ break the 33,000 level again
to complete the first leg down into wave (i) of [iii].
But a minimum expectation for wave ‘5’ will be a break of 33,400 again to clear the lows of the previous wave ‘3’ of ‘i’.

If I am correct here with this short term count,
then we are on the verge of completing a five wave bearish impulse wave off the awve [ii] high early next week.
This week showed us the cracks are appearing in this rally now.
And if wave [iii] is about to kick off,
then we are in for a very harsh new year 2023.

Monday;
Lets see if wave ‘5’ of ‘i’ can break below that lower target level at 33000 to complete.
A lower high in wave ‘iii’ is on the cards for next week also,
so we are likely to see another step pattern lower before any major acceleration into a third wave down begins.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold managed to threaten the previous high at wave ‘b’ tonight,
but so far the high at wave ‘b’ remains intact.
the rally this week does have a corrective look to it to be honest,
and the initial decline off wave ‘b’ is impulsive.
so the ‘1’ ‘2’ pattern still fits as a reasonable explanation of the action so far.
I am expecting a sharp decline into wave ‘3’ of ‘i’ over the coming days.
So Monday will prove critical to this short term count.

Monday;
Wave (iii) requires another leg down to complete an expanded flat correction.
And so I continue to expect wave ‘c’ of (ii) to push lower in a five wave pattern.
Watch for wave ‘b’ to hold at 1809.
Wave ‘3’ of ‘c’ will be confirmed with a break of 1765 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The action in crude today has opened up another possibility for wave ‘v’ of (i).
It is pretty clear that this market is searching for a low now,
as the price continues step lower and retrace much of the decline.
If we look at wave ‘v’ as an ending diagonal pattern rather than a simple wave form.
That does explain the action a little better this week.
There is a possible ending diagonal pattern complete at todays lows.
And I do expect a bounce into wave ‘a’ of (ii) over the coming days to confirm wave (ii) has begin.

Monday;
Watch for wave ‘a’ to push higher and break above 74.00 again to confirm wave (i) is done and wave (ii) has begun.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am taking a different view on the action this week now as you can see.
The actoin off the top of wave ‘c’ of (ii) is not laregr enough to consider this as all of wave ‘i’ pink.
So I am dropping the wave count by one degree,
so this weeks decline is only seen as wave ‘1’ of ‘i’.

The S&P has turned lower again today and retraced much of the wave corrective rise of the last two sessions.
the price has not made a new low yet to complete five waves down,
a break of 3909 will do that.

3909 is the minimum target for wave ‘1’ down now,
but I would like to see a break of the 3859 level to complete wave ‘1’.
And that would be a more convincing retracement of the rally in wave ‘c’ of (ii).

Monday;
Five waves down off wave (ii) is still my base case scenario here.
Watch for wave ‘1’ to break 3909 at a minimum.
The preferred target is at 3859.

Wave (iii) down will not be confirmed until wee see clear break of 3690 again at the wave ‘b’ lows.
That may be a long way down from where we are now,
but once we do see a trend change take over into wave ‘i’ of (iii) then we could see a very large acceleration phase begin.
And then the lower supports can be hit with ease.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has dissapointed to the upside this week by ruling out the bearish impulse wave lower that I was working with.
This has in no way changed the outlook at all.
The fact that silver is the last bastion of speculation is strange for sure,
but I do think this is lining up to be a dissaster as market sentiment changes,
and wave ‘5’ takes over to wipe out all the gains over the previous months.

Monday;
This week threw up a candidate for a reversal pattern to begin weave [i] of ‘5’.
But now I will have to wait until this action reverses again next week to see if we get that follow through that I have been looking for.
Five waves up in wave is clearly in place here in wave (v).
We also have five wave up in wave [c].
And a clear three waves is done in wave ‘4’.
So the larger patterns are solid.
All that actually needs to happen is for the trend to turn into wave ‘5’ now.