Good evening to one and all.

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

It seems like the FOMC meeting tomorrow has put a stranglehold on markets today so I’m afraid we don’t have any major revelations after todays non-action.
The market will come to a decision point for the short term patterns in how the reactions go tomorrow.
It is possible that some counts will be invalidated,
and others will be confirmed.
So.
Im afraid I am a victim of circumstance here,
and I will have to wait to see how some markets break tomorrow.

On with the show.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD has traced out one complete three wave cycle off the top into todays lows.
I have labelled wave ‘a’ complete at todays lows.
This three wave decline suggests wave (a) will be a three wave pattern overall.
The price rebounded off the low at wave ‘a’ today and so far we are holding a lower high in wave ‘b’.
I want to see wave ‘c’ of (a) turn lower again and trace out a five wave pattern to complete a flat correction 3,3,5 pattern.

Tomorrow;
Wave ‘b’ may be complete at todays highs,
or complete a larger three wave sideways pattern.
but as long as the price remains below 1.0928 again then this pattern holds.
Watch for wave ‘c’ of (a) to turn lower again as shown.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

the action is not clear here but the idea of a top in place is rising in probability at least.

The price dropped further today and that opens the possibility that a top is in place for wave (c) of [b].
The price has not has not broken the wave ‘iv’ low yet either,
so nothing is confirmed here,
but I am allowing this main count to play out for the time being.

Tomorrow;
A break of the wave ‘iv’ low at 1.2260 will be a step in the right direction to confirming the wave [b] top.
An acceleration lower tomorrow to break 1.2080 again will conform wave (i).

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The stranglehold on markets is best seen in USDJPY today.
the price continues to contract around 130.00 again today,
and that alternate triangle idea is still a real possibility here.
I have been looking at the 129.00 level as a possible signal level for the alternate count.
So I want to see that level hold tomorrow in order to stick with the main bullish count.

Tomorrow;
A break aout above 130.60 again will favor the idea that wave (iii) is underway.
If that is true,
then we should see a continued acceleration in wave ‘iii’ of (iii) over the coming week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I am stuck between a rock and a hard place in the stock market tonight.

The Dow did not follow through on Mondays decline,
so this wave count is hanging in the balance again tonight for wave ‘ii’ pink.
Only a sharp drop below 33260 again will favor the bearish count.
If that happens I will be willing to suggest wave ‘1’ of ‘iii’ is underway.

There are a few points in favor of this main count though;
the market has stepped lower off the wave ‘ii’ high and continue s to hold a lower high despite the rally today.
The rally into that wave ‘ii’ high is a clear three wave pattern.
And above that,
the pattern into the wave (ii) high is a clear corrective move.

I can say this for certain,
the sings are pointing to a near term reversal,
and this reversal will be a third of a third acceleration if the larger count is correct.

Tomorrow;
Watch for wave ‘1’ of ‘iii’ to drop below 33260 again and signal wave ‘iii’ is underway.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

If wave (a) of [ii] is now getting started,
then the initial turn lower off the high is pointing to a three wave decline in wave (a).
Wave ‘a’ of (a) completed above the previous wave ‘iv’ low at 1895.
And the rally today is counted as part of wave ‘b’ of (a).
I want to see that high at wave [i] holding from here on out as wave [ii] develops,
so wave ‘c’ of (a) needs to come in strong over the next few sessions.
Wave ‘c’ of (a) has a target area near the wave ‘ii’ low at 1825.

Tomorrow;’
Watch for wave ‘b’ to hold below 1949.
A break of 1895 again will signal wave ‘c’ is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Three waves down off the high have complete at today lows,
and now we have a re bound in play off the lows this evening.
The main pattern is still a real possibility here as long as wave ‘iv’ holds below 79.54.
and wave ‘v’ of (i) falls back towards the wave (b) low at 72.60 again this week.
A break above the wave ‘i’ low at 79.54 again will invalidate the main short term pattern and I will have to rethink the larger wave [ii] pattern again.

Tomorrow;
watch for wave ‘v’ to turn lower again to complete five waves down in wave (i) by the end of this week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I’m afraid I am writing without saying anything tonight,
and the S&P will be no different!

The first thing I will say is that the pattern for wave (i) and (ii) is still valid here.
the market has held below the wave (ii) high again today.
And as long as that high holds,
then we can expect wave ‘i’ to take over to begin wave (iii) down.

You can see on the 4hr chart I have drawn a trend line connecting the previous 2 second wave highs at wave ‘2’ and [ii].
That line was met as wave (ii) complete last week.
And now the price is again holding below the line this evening.
This is not pointing at a definite turning point,
but it is very interesting how that line is holding a developing downtrend so far.

Both the daily and 4hr momentum indicators are signalling a momentum reversal is at hand,
and volume has continued to decline as each passing day goes by.

Again,
The signals are all there pointing to a bigger wave down coming our way.
the trigger has not been hit yet,
but we will get that trigger soon I suspect.

Tomorrow;
Watch for that wave ‘c’ of (ii) level to hold and wave ‘i’ of (iii) to turn lower again.
I am still watching 3885 as the signal level indicate wave ‘i’ of (iii) has begun.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver dropped to a tight higher low this morning and now we have a solid bounce off that low as we hit the close this evening.
Todays low is labelled wave [ii] of ‘5’.
With wave (i) of [iii] now underway.
Wave (ii) of [iii] should complete another higher low tomorrow.
And then wave (iii) should rally out to a new high by the Thursday if this count remains valid.

Tomorrow;
Watch for wave [iii] to continue higher and break above 24.53 later this week.
This count will be invalidated if we see a break of that wave ‘4’ low at 22.74.