Good evening to one and all.

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

I hope you don’t mind too much,
But I will have to keep tonights update short and sweet.
I have two sick kids at home today with some sort of viral throat infection.
The third is fine,
she had it last week.
I guess I’m in line to get it next week!

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Apart from a small spike higher today EURUSD is prett quiet.
It seems that a low is in for wave ‘a’ now 1.0670.
And now we are beginning a corrective rally in wave ‘b’ which should take a few days to compelte.

Tomorrow;
Watch for wave ‘a’ to hold at 1.0670 and wave ‘b’ to complete a three wave rally near 1.0850.

If the price continues lower tomorrow,
then I will consider wave (a) blue as a five wave decline rather than a three wave pattern as shown.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

It is a similar story in cable tonight with that spike rally it seems wave (ii) is now underway.
The low at wave (i) of 1.1960 should hold.
Wave (ii) is expected to continue higher in three waves towards that 1.2200 area to complete a bearish lower high.

Tomorrow;
Watch for wave ‘b’ and ‘c’ to continue that step rally higher and complete three waves up later this week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

the wave ‘i’ high at 132.89 is set now that we have a reasonable decline off that level.
The decline off wave ‘i’ has now hit the 50% retracement level of wave ‘i’,
and that fib level has offered some support to the price so far.
If this count is correct then we will see a rally in wave ‘iii’ of (iii) get underway soon.

Tomorrow;
Wave ‘ii’ should complete soon and wave ‘iii’ will be confirmed with a break above the wave ‘i’ high at 132.89.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The market looks very unsure of any bullish outcome give the action over the last week.
I am finding it hard to make that bearish count work,
but on the positive side,
I can’t see a bullish alternate here either.
Even with that rally today we only have a three wave pattern higher to form a lower high.
It is far from clear cut that this will run any higher at all.
So I am sticking with the main short term count until proved wrong.

Tomorrow;
Watch for the wave (ii) high to hold and for wave ‘i’ of (ii) to turn lower again and fall in five waves.
It is possible we see a ‘messy’ wave ‘i’ down with a possible leading wedge pattern.
Lets see how it goes over the next few sessions.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The action in gold today is very like a consolidation in a fourth wave.
In this scenario wave ‘iv’ pink is complete at todays highs.
And the wave count suggests wave ‘v’ is set to drop back towards 1825 again to complete five waves down in wave (a) blue.
Once that happens we can look for wave (b) to track higher again later in the week.

Tomorrow;
Watch for wave ‘v’ of (a) to complete five waves down soon.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I have actually moved the wave counts up by one degree in the crude oil charts today.
you can see that across the three charts above.

The short term pattern is not changed.
Todays bounce is viewed as wave (a) of [ii],
with wave (b) and (c) left to compelte a bearish lower high by the end of this week.

Tomorrow;
Watch for wave (a) to complete and then price should drop again into wave (b).
Wave [ii] should complete later this week near the 62% retracement level at 78.75.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

A choppy and overlapping trade in the market today is suggesting a possible second wave lower high at the moment.
this pattern must be confirmed tomorrow with a sharp decline back into wave ‘3’ of ‘i’.
And I want to see wave ‘i’ break that wave ‘b’ low at a minimum later this week.
As I said in the dow,
nothing has been proved or disproved here yet.
More evidence is needed though to signal that the long awaited turn into wave [iii] is coming.

Tomorrow;
Watch for that lower high to hold below wave [ii] green.
A break of the wave ‘1’ low again will signal wave ‘3’ of ‘i’ is underway.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has flatlined over the last few sessions in a possible wave (iii) low and wave (iv) correction higher.
The price is holding at the lows again this evening.
And I am labelling this as wave (v) of [a].
If this is correct,
then we should have a retracement coming into wave [b] over the coming days.
The larger wave ‘A’ is shown as a three wave pattern so far.
If the price continues lower tomorrow to break 21.00 again that will suggest a five wave pattern for wave ‘A’ is a better fit.

Tomorrow;
Watch for a push back above 22.50 to signal wave [b] is underway.