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.

Its been a pretty uninspiring corrective rally in wave ‘b’ so far.
and it looks like this evening we have reason to believe that wave ‘b’ is now done.

the price did not even manage the 38% retracement of wave ‘a’ at the highs.
It seems that the previous corrective shoulder in wave ‘iv’ of (v) has stopped this correction.
So I will be looking lower in wave ‘v’ for the coming few sessions.
A break below the wave ‘a’ low at 1.0670 will signal wave ‘c’ is underway.
If we see that level break I can rule out a larger correction in wave ‘b’ developing.

Tomorrow;
Watch for wave ‘b’ to hold at todays high of 1.0792.
WAve ‘c’ should trace out five waves down from here.
And the target area for wave ‘c’ of (a) lies at about 1.0520 or so.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable hit the 50% retracement level of wave (i) on the nose today.
The market has done enough now to consider wave (ii) complete at that high.
The reaction off that high at wave (ii) is pretty impulsive looking so far.
I want to see a break of 1.1960 again to signal wave (iii) is underway,
but the decline today is in line with a possible wave ‘i’ of (iii) as shown.

Tomorrow;
WAtch for a five wave decline to develop now in wave ‘i’ of (iii) of [c].
I can’t confirm that wave (ii) is done at todays high,
but I think there is enough evidence to look for wave ‘i’ of (iii) at least.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY met the very minimum target for a larger wave ‘ii’ as suggested last night.
If wave ‘ii’ is complete at todays lows,
then that is a very unequal three wave correction.
I will keep an eye on that overnight trade to see if the low at 130.34 holds.
There is still a possibility that wave ‘ii’ takes another turn lower to complete three waves down and a larger corrective form.
As for now,
the bounce off the session low is enough to consider that wave ‘iii’ is getting underway.

Tomorrow;
Watch for wave ‘ii’ to hold at 130.34.
WAve ‘iii’ of (iii) will be confirmed with a break above 132.89.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The market has failed three times in a row at that 34350 area now,
this should be a little worrying to most avid market watchers.
This type of failure is indicitive of some weakness brewing,
and especitally if this action comes at a lower high scenario.
We will soon find out,
but I am a little more confident on the main wave count now because of todays trade.

Both the main count and the alternate count would fit this action quite well here.
I am counting this new decline as wave ‘3’ of ‘i’.
Where the alternate count would suggest this drop is only the beginning of wave ‘i’ pink.

Either way,
the market must continue lower over the coming days to complete a break of support and a five wave decline in wave ‘i’ of (iii).

Tomorrow;
WAtch for wave ‘3’ of ‘i’ to continue lower and break initial support at 33260.
The first significant support comes in at 32930 at wave ‘b’.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold tested a new high in wave ‘b’ this morning but only managed a quick break of 1890 before turning lower again.
This new decline has now broken below the wave ‘a’ low at 1860.50 again,
and with that I am now looking for a five wave decline into wave ‘c’ to take over for the next few sessions.
the wave ‘c’ target remains at about 1825,
if we find support in that area,
then I will begin to look higher again into wave (b) next week.

Tomorrow;
Wave ‘c’ should dominate tomorrow and continue lower as shown.
The wave ‘b’ high at 1890 must hold.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has turned sharply lower this evening off that possible wave [ii] high.
The action is impulsive enough to suggest wave (i) of [iii] is underway here.
We will need to see further declines tomorrow to back this idea up,
and confirm a five wave decline into wave (i) of [iii] is now on the cards.

I have filled in the main alternate count this evening in red box’s.
this decline can be viewed as wave (b) of [ii] also.
If the alternate count is correct,
then we will see a larger flat correction in wave [ii] that will develop over the next week.

Tomorrow;
Watch for wave (i) of [iii] to continue lower and trace out five waves down near 73.00 again.
The wave [ii] high at 79.00 must hold.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The action is beginning to turn in favor of the main bearish count at least in the short term.
The market is holding just below the previous low at wave ‘1’,
but we need to see a clear follow through to the downside tomorrow to favor the wave ‘i’ count.

I am not going to start shouting like a raving madman until we see at least a break of the previous wave ‘iv’ low at 3884 again.
But I am looking at that internal wave ‘b’ low at 3994 also as a signal level for wave ‘i’ of (i).
The market may be turning off the highs to favor my bearish wave count,
but we do not have confirmation of anything just yet.

Tomorrow;
Watch for wave ‘i’ pink to continue lower and to break below that initial support level at 3994 to add weight to this count.
A break of 3884 will signal that wave [ii] is done and wave (i) of [iii] is underway.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The action in silver off that recent high now better suits a five wave pattern for wave [a] as shown.
I do think we are probably quite close to a low now for wave [a],
and if that is the case we should see a rise back into wave [b] beginning soon.

A three wave rise in wave [b] will carry back towards the lower end of the corrective range for wave ‘4’ red.
That comes in at 22.90,
I suspect wave [b] will have to wait until next week though give todays fall.
The wave (iv) high lies at 22.58,
and if the price breaks above wave (iv) again that will suggest wave [b] is underway.

Tomorrow;
Watch for wave (v) of [a] to find a final low before turning higher into wave [b] early next week.

If this decline extends lower tomorrow without finding support,
then I will be looking at a different five wave pattern for wave ‘A’ down as the next best fit wave count.