Good evening to one and all.

The Lord’s Blessings to you all tonight.

Monday is Martin Luther King day in the U.S,
this is a public holiday and so there won’t be an update on Monday evening.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The rally in wave (v) is showing signs of slowing now,
so I expect we are nearing the end of this pattern in wave ‘v’ of (v) of [i].
I mentioned the upper target at 1.0943 where wave (i) = wave (iii).
That level is a possibility for sure.
I suspect the early trade on Tuesday will decide if wave (v) is complete or if the upper target will be met or not.

Next week;
I seem to be looking for reversals across the board these days and EURUSD is no different.
Watch for a break of that 1.07 level again to signal wave [i] is complete.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The end of wave [b] should be close at hand now that we have a solid retracement in place at 62%,
and wave (c) has a five wave internal pattern now complete.

The action this week has been less than impressive,
but I need to see a break back below the corrective range in wave ‘iv’ pink in order to signal wave (i) of [c] is underway.

Next week;
Watch for wave [b] to top out and reverse into wave (i) with a break of 1.2080 again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I have been mightily disappointed by USDJPY this week!
A three wave pattern was in the making by Wednesday evening and then that all important 129.47 low was broken and the third wave extended into this evenings lows.

Now I am aware that the previous bullish pattern was ruled out by this action,
but I am also aware that the market is in an exact opposite position as it was in last October when we were hitting 151 at the top and nobody could see anything else other than USD strength ahead.
You may remember that the patterns in play back then were signaling an imminent reversal on the cards.
And I was looking for the correction in wave (4) to fall back into the 130 area.
Now we are here,
and all the market can see is USD weakness going forward,
and a continuing decline in USDJPY.

Here I am again pointing to the opposite outcome as the most likely.
That contrarian outlook comes with a possible wave (5) rally towards 160.00.
the pattern is suggesting it,
and that is what I am going with!

Next week.
That wave (5) rally will begin with the bullish higher low just like EURUSD is doing now.
So lets see if the initial move off the lows will begin next week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow is holding at the highs of the session this evening without much to signal a possible decline into wave (iii) is underway.
I am going to stick with the idea that wave ‘c’ is an ending diagonal again.
And the rally today is tracing out wave ‘5’ of ‘c’ here.
That rally has almost reached the 78.6% retracement level now,
so far that level is holding,
if the short term count is correct then we will see a break of that level with a tag of the upper trend line,
then a decline should begin into wave ‘i’ of (iii).

Tomorrow;
Watch for wave ‘(ii) to complete and reverse next week.
The pattern is compelte for a flat correction wave (ii) here,
so wave (iii) down is the next step here.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

A three wave rally in wave ‘v’ pink is complete this evening to wrap up an ending diagonal in wave (v) blue.
That three wave rally in wave ‘v’ has also filled a channel at this evenings highs.
Along with ever decreasing momentum to the upside,
and an ever increasing series of bullish headlines that can find every reason under the sun to buy gold now,
that is after the rally has done.
Those same people were not so bullish back at 1650 after a long decline was coming to an end.
They were wrong back in November,
and they will be wrong this time too.

Next week;
Wave [ii] should begin.
I know I have been saying this for a few weeks now,
but every sign that I can see is pointing to a soon decline into a second wave.

There will be a better time to buy gold,
that comes back near 1700 again when this euphoria is well and truly crushed.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I know we are getting very close to invalidating this short term pattern here.
The price is creeping higher towards the 81.50 level again at the wave [ii] high.
And if that level breaks,
the alternate count will be triggered for wave [ii].
It seems this week brought with it a burst of euphoria.
And the everything rally is back with a bang.
Not for long I say.
The underlying economic conditions are weakening by the day here.
And we are hurtling towards a depression in my view.
The excesses will be wrung out of the economy in a major way this year.
Oil will not survive the carnage.

Next week;
If the price breaks 81.50 then wave [ii] gets postponed for another week or so.
Wave [iii] down is coming,
lets see if 81.50 will hold and wave ‘i’ of (iii) can take over.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

An ending diagonal wave ‘c’ is now the main idea here after the price has staggered its way to a new high again this week.
The price is finding it hard to break above the 62% retracement level over the last few sessions.
That slowing momentum should signal the end to this rally here.
And if wave ‘c’ does manage a new high for wave ‘ii’ above 4000 again,
I suspect it will be a terminal high.

Next week.
I don’t have a whole lot more to say regarding the pattern in operation here,
or the general market and economic conditions underpinning this action.
You know where I stand.
Lets see if next week can bring that long awaited wave ‘iii’ decline.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The everything rally has brought silver higher with it this week.
The price is holding a lower high below 24.50 so far.
And the action over the last week has traced out a three wave correction higher in wave (ii).
the internal pattern of wave (ii) is most likely a combination wave.
And if the high at 24.50 holds early next week,
then wave (iii) down will most begin by the second half of the week.

Next week;
A correction higher is now in place.
Watch for a drop below 23.00 again to signal wave (iii) is underway.