Good evening to one and all.

The Lord’s Blessing’s to you all again tonight.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD did did a new high for this wave (v) rally today.
the price has not met the wave (i) = (v) level at 1.0942 yet,
and todays trade is basically flat from yesterday.
At this point I can still call this a failure below the target.
The move lower off the high is another possible drop to begin wave (a).
A break of 1.0700 again will signal wave ‘a’ of (a) is in play.

tomorrow;
Watch for a followthrough to the downside to confirm wave ‘a’ down.
Wave ‘a’ can be in three of five waves.
I cannot confirm a top is in place yet for wave [i] until we see a break of initial support near the 1.07 handle.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

cable managed to push to a new high in wave [b] also today.
The price has held below the previous top at wave ‘A’,
and again this evening the price has reversed lower with a reasonably sharp form.
The top in wave [b] is proving a difficult one to pin down.
So I will wait for further declines tomorrow to prove this count.
A break above the wave ‘A’ high will most likely invalidate the three wave pattern for wave ‘A red.
and I will have to look at a possible five wave rally to the wave ‘A’ top instead.

Tomorrow;
Watch for wave [b] to hold below the top at 1.2448.
Only a break of 1.2080 again will confirm this wave count.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Well It is hard to work on any pattern when the BOJ does that to you!

A rally is what I was looking for and a rally we got,
only the price dropped just as sharply this afternoon as the earlier rip higher.
We only just managed to hold above the recent lows at 127.21 after that slam down.
And at this point at I can do is wait to see if the price can recover, to build a bullish impulse off the low again.

Tomorrow;
We are in limbo here until an impulsive pattern turns the tide higher again.
So its a case of wait and see what the rest of the week will bring.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Well I suppose it is is a case of ‘so far so good’ as we close out the days trade this evening.
The market has now retraced enough of the previous rally to consider this as the beginning of an impulsive reversal.
The reversal which I have been waiting for!
Better late than never!

I am torn between two possible counts for this initial decline.
Option 1;
The decline is an ongoing five wave pattern developing in wave ‘i’ of (iii).
This wave should find support near the wave ‘b’ low at 32800.
A break to a new low will confirm wave (iii) is underway.

Option 2;
the decline off the wave (ii) high is a five waves down complete at todays lows.
In this case wave ‘1’ of ‘i’ is complete and we will see a correction higher begin tomorrow into wave ‘2’ of ‘i’.

The deciding factor will be tomorrows trade.
A larger correction higher tomorrow will favor that second option and I will switch to that count if that happens.

I will not rule out the main count until that happens though.

Tomorrow;
Watch for wave ‘3’ of ‘i’ to find a low near 33300.
Wave ‘4’ and ‘5’ will continue to develop over the coming few sessions as shown,
and we should reach down towards the wave ‘b’ low at 32800 to complete wave ‘i’ pink by Friday evening.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is refusing to reveal anything so far this week.
The price spiked higher this morning and now we see that rally more or less dissipate this evening.
This is a symptom of a tired and over extended pattern I suspect as wave [i] is topped out now.

The momentum reversal is kicking in again on the 4hr chart.
We have a solid lower high extreme in momentum and the indicators are about to break below the zero line again.
While the price has yet to follow lower,
this is a definite hint that something bigger is coming for gold,
and it will be exactly what people are not expecting.
Wave [ii] is coming.

Tomorrow;
I cannot pin down a pattern yet off the top.
so I can only wait to see how this reveals itself over the coming days.
Watch for that high at wave [i] to hold and wave (a) of [ii] to build.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

After triggering the alternate pattern last night by breaking above the previous high,
crude oil put in a possible top in wave ‘v’ of (c) today and immediately reversed back below the 80 handle again.
IF this decline is the beginning of wave (i) of [iii],
then that was the quickest alternate pattern top that I can remember in a while.

Anyway,
the decline this evening is not a confirmation of the wave [ii] top,
but it is a very strong hint that we are very close to that top now.
The rest of this weeks trade will be important see if we can develop a bearish reversal pattern into wave (i) of [iii].

tomorrow;
Watch for the high at wave [ii] to hold.
Wave (i) of [iii] should retrace most of that wave (c) rally.
So I am looking at a low near 72.00 again after a five wave decline.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Again in the S&P tonight we have a candidate for a reversal into wave ‘iii’ down.
the price has now spike lower off that possible wave ‘ii’ top again.
Wave ‘1’ of ‘iii’ must make a substantial retracememtn of the wave ‘ii’ correction from here on.
So there is a whole lot of work to be done before I can confirm wave ‘iii’ is underway.
I am looking at the 3870 level as a signal level for a larger reversal in wave ‘1’.
As that level marks the high of wave ‘a’ of ‘ii’,
and the pibot low within the recent rally.
A break of that level after a five wave decline will strongly suggest wave ‘1’ of ‘iii’ is underway.

Tomorrow;
Watch for wave ‘1’ of ‘iii’ to develop lower and trace out five waves down by the end of this week.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver made a great leap lower today and just managed to break the triangle low of wave ‘b’ of (ii) today.
At the very least we can call this action a failure and rejection below the previous high.
Wave (ii) holds,
and the actoin off that wave (ii) lower high is pointing to a possible wave (iii) decline now developing.
The pattern off the high is in three waves so far,
I want to see a solid five wave decline in wave ‘i’ to complete before getting too excited about the prospects for wave (iii).

Tomorrow;
watch for wave ‘i’ of (iii) to complete five waves down and complete near 23.20 again.