Good evening to one and all.

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

https://twitter.com/bullwavesreal

EURUSD.

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Turns out the USD is not dead after all!

The high for wave (b) has now been confirmed at 1.0760 just below the 50% retracement level.
And todays rapid drop off that wave (b) high is labelled wave ‘i’ of (c).
Technically the low of the session today actually hit the minimum target for wave (c) with a break of the wave (a) low at 1.0523.
But I am reasonably confident that wave (c) will trace out a full five waves down towards that lower target at 1.0200 again.
And that is the pattern I am working with here.

Tomorrow;
Watch for wave ‘ii’ of (c) to complete a lower high below 1.0760 as shown.
The next time the wave ‘i’ low breaks that will confirm wave ‘iii’ of (c) is underway.

GBPUSD

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I thought we would see a little more from wave [i] but 1.2205 marked the high of that pattern.

Cable topped in wave [i] at last nights highs and today the price turned lower into wave [ii].
The initial decline is labelled wave (a) of [ii],
we should see a three wave correction to a higher low near 1.1950 when wave [ii] completes.
And then I will turn my attention higher into wave [iii]. of ‘C’.

Tomorrow;
Watch for wave (b) and (c) to complete a three wave correction in wave [ii] as shown.
The low at 1.1802 must hold.

USDJPY.

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A very slight break of the previous low at 132.27 today has forced me to rethink the short term pattern today.
I have now labelled the recent top at 137.89 as wave ‘1’ of (5).
Wave ‘2’ is now underway as shown.
And last weeks decline is labelled wave [a] of ‘2’.
Wave [b] is possibly complete at 135.12.
And wave [c] is now heading lower with todays lows marking wave (i) of [c].

Tomorrow;
WAtch for wave (ii) to complete a lower high below 135.12.
And wave (iii) of [c] should then fall again by tomorrow evening.

If wave [c] equals the length of wave [a],
that suggests a low for wave [c] at the 78.6% retracement of 129.50.
We will see how that target develops over the next few days.

DOW JONES.

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Wave ‘2’ of ‘iii’ never managed a larger three wave pattern higher as I suggested last night.
The high at wave ‘2’ now stands at 32280,
and todays decline should begin a third wave decline into wave ‘iii’ now.

The drop off wave ‘2’ black has traced out a possible five wave decline as shown.
And that wave ‘2’ high must now hold in order for this count to remain valid for wave ‘3’.
Wave ‘3’ of ‘iii’ should continue lower in five waves as shown.
and I am even suggesting that wave ‘3’ of ‘iii’ can hit 30300 again before correcting higher again into wave ‘4’.
That low may be a long shot,
but the larger pattern in wave (iii) blue does need to make similar progress to the downside overall.
And wave ‘iii’ pink is the wave to achieve that sort of progress if this count is correct.
We will see how wave ‘iii’ develops over the coming few days.

Tomorrow,
watch for wave ‘2’ to hold at 32280.
In an ideal pattern,
wave ‘3’ of ‘iii’ should trace out five waves down towards the 30300 area.

GOLD

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We now have a complete five wave pattern in wave ‘c’ complete at todays highs.
That rally in wave ‘c’ of (b) achieved a very deep retracement of wave (a) for sure,
but that fact does not invalidate the count at all yet.
Wave (c) should now turn lower over the coming week and fill that trend channel for wave [ii] below 1804.

The alternate count has been updated tonight to show wave (i) of [iii] now complete at todays highs.
This bullish count calls for a three wave correction back towards 1850 again in three waves.
We should know pretty soon which count is correct here.

A three wave count will favor the bullish count.
a five wave decline will favor the main count for wave [ii] green.

Tomorrow;
Todays high should now hold to signal wave (b) is complete for sure.
Watch for wave ‘i’ of (c) to drop below 1885 at a minimum.

CRUDE OIL.

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Crude oil hit a new 15mth low today which is quite an achievement in an inflationary environment!
The market took a major hit today in a possible wave ‘iii’ of (iii) decline,
the low of the session today was almost $4.00 lower than Tuesdays low.
I am counting that as a midpoint for this third wave decline.

Wave ‘iii’ of (iii) is now complete,
and the market has bounced off the lows now in wave ‘iv’ of (iii).
The larger pattern requires another series of stepped declines over the coming weeks.
As the higher degree third waves complete.

Tomorrow;
In an ideal scenario,
wave ‘iv’ pink will complete below the 70.00 handle.
And then wave ‘v’ pink will make another new low near 65.00 again to complete five waves down in wave (iii) blue.

The market should then turn higher next week into wave (iv) blue as shown.

S&P 500.

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The market has again tripped over itself today and dropped out of the recent rally.
Todays action only adds to the idea that wave ‘2’ is now complete.
The decline today has not made a new low below wave ‘1’ yet,
but wave ‘3’ down will do that very soon if this count is correct.
The market has bounced off the session low again this evening,
but I want to see the wave ‘2’ high at 3937 hold as wave ‘iii’ develops now.

There is much more downside left in wave ‘iii’ pink if the target at 3700 is to be hit.
So wave ‘3’ of ‘iii’ must continue lower tomorrow.

Tomorrow;
Watch for wave ‘2’ of ‘iii’ to hold at 3937.
A break above 3937 again will suggest wave ‘2’ is tracing out a larger pattern.

Wave ‘3’ of ‘iii’ should find support at the 3700 area,
so that area remains the main short term target now.

SILVER.

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A sharp spike higher earlier today has been completely retraced this evening.
I am taking this as a signal that wave [ii] is now underway.
Wave (a) of [ii] should break that 21.50 support.
And I am looking for a deeper retracement towards the 20.50 area to complete this correction.
Wave [ii] should take us into next week before we complete.

Tomorrow;
Watch for wave (a) of [ii] to be confirmed with a break of 21.50 again.