Good evening to one and all.

They’ve Ruled Out Tail Risk!

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Take a look at the 4hr chart to start with this evening.
The rally into the wave [i] high came within a few pips of hitting the previous wave (ii) high,
and that seems to be the limit now for wave [i].
The action so far is suggesting that wave [ii] is underway.

I am looking at the previous wave (iv) low at 1.0222 as a reasonable target for wave [ii].
the main question I am working on here is this,
which is the best fit internal pattern for wave [ii].
Is wave (c) of [ii] already underway,
or are we still battling with wave (b) today.

The hourly count shows wave (a) complete at Tuesdays lows.
The rally today has already hit the 50% retracement level of wave (a).
Wave (b) is underway here,
but the internal paytern of wave (b) has not been settled yet.

I am calling todays top wave ‘a’ of (b).
With wave ‘b’ and ‘c’ yet to complete as a flat correction.
We will see how this develops over the coming days.

Tomorrow;
Watch for wave ‘b’ to form a higher low above 1.0520 by tomorrow evening.
Wave (b) should be complete by the end of this week,
and then wave (c) of [ii] will turn lower again next week in this scenario.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am watching two possibilities for wave [b] on the hourly chart.
Todays rally can fit in both scenarios.
The main count labells todays action as wave (a) of [b] with another few days of ranging action ahead to complete wave [b].
The alternate count suggests wave [b] is an expanded flat correction with todays rally moving higher into wave (c) of [b].
In this scenario we will see wave [b] complete up near 1.2250 again by Fridays evening.

Tomorrow;
We should konw tomorrow which of these counts fits best.
Watch for wave (b) to fall again and hold above 1.1898 and then wave (c) will start before the close of trade tomorrow.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY picked up steam today and pushed higher with a nice acceleration in the action.
I am suggesting this rally is wave (iii) of [i],
and we should see a further rally up towards 134.50 as this first five waves completes in a few days time.

Tomorrow;
This is still a test phase for the reversal higher that I have been looking for.
So we need to see the market continue higher tomorrow.
Watch for wave [i] to top out near the previous wave [iv] high.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I am still pretty unsure of the actoin in the Dow today.
The market is holding below the the wave ‘ii’ high so far,
but this lower high in wave ‘2’ is a little unsatisfactory as it came very close to hitting the wave ‘ii’ high again today.
I want to see an immediate decline tomorrow into wave ‘3’ of ‘iii’ of (i) in order to confirm this hourly pattern.
If we see a break below 32460 again that will be enough to signal wave ‘iii’ is underway.

If the price breaks above 33497 again tha will signal wave ‘ii’ is still working through its pattern.

Tomorrow;
watch for wave ‘ii’ to hold and wave ‘3’ of ‘iii’ to break below 32466 to confirm this pattern.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Lets start with a wide angle view on Gold tonight by looking at the 4hr chart.
The market has run substantially higher over the last two months and now of course the bullish claims are coming in thick and fast.
I cant change my outlook here even after the extended fifth wave over the last few weeks,
This chart looks over extended in wave (i),
and the action in wave ‘v’ of (i) only reinforces the count to be honest.
A very choppy rise in price against a flat lining momentum only spells the end of a wave.
And this market has gone far enough to warrant a substantial correction.
And that is why I continue to look for the beginning of wave (ii).
The final low of wave (ii) will be make a much better opportunity to get into the longer term trend.

Tomorrow;
The call remains the same,
wave (ii) must begin sooner rather than later.
A break of 1796 again will signal wave ‘a’ of (ii) has begun.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Todays selloff has now shifted the pattern back in favor of the full on bearish count for wave [iii] green.
This wave has not been confirmed here yet,
but todays move lower is impulsive looking and suggests wave (i) of [iii] is now in force.
Wave (i) has retraced all of the previous rally in wave (c) of [ii].
Wave (i) should be pretty close to complete here,
and when it does complete,
we should see a corrective lower high form in wave (ii) over the coming few days.
That lower high will be a critical point in the pattern as wave (iii) of [iii] will be set to begin from there.

Tomorrow;
Watch for wave (i) of [iii] to find a low above 70.00 again,
Wave (ii) is then set to correct higher towards the 76.00 area in three waves.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Much like the Dow today the S&P is undecided as to the very next move in the pattern.
Will the market go along with the main pattern,
or do we see a larger wave ‘ii’ correction build over the rest of this week.
At the moment the pattern is an even 50/50 split as to what happens next.
A sharp drop early tomorrow will decide between the patterns.
I am looking for a break below 3760 again to confirm wave ‘iii’ is underway so that is the key level i the short term.

Tomorrow;
Watch for wave ‘ii’ to hold at 3883.
Wave ‘3’ of ‘iii’ must turn lower early tomorrow in order for this pattern to remain valid.
3760 is the level to watch.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver made another attempt to begin wave [i] dow today which is a welcome development.
The decline is not larger enough to confirm anything yet,
as I am looking for a break of the wave (iv) level at 22.54 to signal a larger turn is underway.
So at the moment I am going to have to wait for confirmation on the count.

Tomorrow;
A five wave decline in wave (i) of [i] should hit the 23.00 level before correcting higher again.