Good evening to one and all.

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

“We Are Seeing A Surge In Job Seekers”

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A three wave pattern is now in place off the wave (a) low at 1.0531.
I am having second thoughts on the size of that initial rally though.
I don’t think it is large enough yet to take that wave (b) label.
So I am suggesting this three wave pattern higher is only wave ‘a’ of (b).
And we should see a larger corrective pattern develop over the coming few days.

Tomorrow;
Watch for wave ‘b’ to turn lower in three waves and hit the 1.06 level again to form a higher low.
Wave ‘c’ should then rally back above 1.07 to complete the larger wave (b) correction.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The action today has continued lower off the wave ‘ii’ high created on Tuesday.
But the internal pattern is not a clear five wave decline yet.
In fact the price has only traced out three waves down off that wave ‘ii’ high.
So at the moment I can’t confirm the idea that wave ‘iii’ is underway yet.

Tomorrow;
Watch for a break of the wave ‘i’ low at 1.1914 again to confirm wave ‘iii’ is underway.
The price must hold below that wave ‘ii’ high at 1.2142.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am taking a similar course in USD JPY tonight as I did in EUR USD.
The action offs the high is in three waves alright.
But the initial decline off the wave ‘iii’ high is only wave ‘a’ of ‘iv’.
With wave ‘b’ and ‘c’ left to complete this wave ‘iv’ correction.

Tomorrow;
Watch for wave ‘iv’ to work its way lower over the rest of this week.
Wave ‘b’ should complete a lower high as shown.
And then wave ‘c’ is expected to fall again into support at 133.90 by Friday evening.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

There is a short term low forming now in the Dow after a pretty flat trade today.
The expanded flat idea still holds for wave ‘ii’ for the moment.
But the market is struggling to rally into that expected wave ‘c’.
I want to see a rally back above 33200 in wave ‘c’ by the end of this week to confirm this expanded flat idea for wave ‘ii’.

The alternate idea for wave ‘i’ and ‘ii’ is still a viable option here.
in that case we should see a three wave rally in wave ‘ii’ also,
so there is very little difference in the outlook for both counts.

Tomorrow;
Watch for wave ‘c’ of ‘ii’ to push higher as expected and top out with a break of 33200.
The next step after this wave ‘ii’ correction higher is a complete reversal into a third of a third decline.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Wave ‘a’ of (b) has done enough today to call it complete.
I am now looking for a three wave decline into wave ‘b’ for the rest of the week to form a higher low as shown.
And then wave ‘c’ will have to wait until next week to complete the three waves up that I am looking for in wave (b).
The action over the last few hours looks very choppy,
so I expect this is the roll over now beginning into wave ‘b’.
I am looking for a drop into the 1820 area again to close out wave ‘b’.

Tomorrow;
watch for wave ‘a’ to top and reverse into wave ‘b’.
Wave ‘b’ should fall in three waves as normal,
and we should see a low near 1820.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

There is very little to add this evening in terms of commentary on the action,
as there was very little actual action today at all!

I am still stuck between a rock and a hard place today regarding the operating pattern in the short term.
Long term I am pretty sure that crude will turn lower in a substantial way again.
But,
the action this week on the hourly chart has not confirmed the pattern in wave [c] of ‘2’ at all.
I know that I am standing on the fence here,
but I will need to see a sharp rally tomorrow to break above the 80.00 level again in order to confirm this pattern.
Until that point,
the alternate count remains a viable option.
And if we see a sharp decline again,
that will only favor the alternate count even more.

Tomorrow;
I think we need to confirm this bullish count with a nice sharp move higher in wave ‘iii’ of (iii) of [c].
If we don’t see it,
then I will be forced to favor the alternate count.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

It’s an almost identical short term count for the Dow and S&P this week.
The only difference being,
the Dow is about to launch into a third of a third wave decline,
and the S&P is on the verge of falling into a third of first wave decline.
Eventually both markets will be cascading lower together I suspect.

As for the short term count,
wave ‘b’ has pipped below the wave ‘i’ low today and is only just holding above 3941 this evening.
Wave ‘c’ should complete by the end of this week if this count is correct,
and I would like to see this rally begin tomorrow.

Tomorrow;
Wave ‘c’ of ‘ii’ should continue higher and break above 4020 to complete wave ‘ii’.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has halted the bounce off wave [iii] today at the wave [i] low at 21.16.
So far this new count is holding for wave [iv].
Although if the price breaks above that wave [i] low that will invalidate the pattern for wave ‘C’.
So this wave count t still must prove itself.

There is an alternate way of viewing the decline off wave ‘B’ and that involves an ending diagonal wave ‘C’.
If that pattern is correct,
then we can allow for more overlap in the pattern as wave ‘C’ develops.
And if that ending diagonal is confirmed,
that will involve more downside and most likely a break of the 19.00 level again.

Tomorrow;
Watch for wave [iv] of ‘C’ to hold below 21.16 and then turn lower into wave [v] as shown.