Good evening to one and all.

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

I am away from home tonight on a trip, I am updating from my hotel room so I hope you don’t mind if I keep this one short and to the point!
I will try and minimize the small talk and waffle that I get carried away with sometimes!

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is close to making a new high in wave (b) blue tonight
And because of that I am forced to rethink the pattern now for wave (B).
Wave (b) should forma three wave rally to a lower high,
so The only option left here is that wave ‘c’ of (b) will break above 1.0929 again to complete three waves up and then turn down into wave ‘i’ of (c) again next week.

Tomorrow;
Wave ‘c’ must be a truncated wave now in order to complete a lower high.
Watch for this new five wave pattern in wave ‘c’ to complete and then wave ‘i’ must begin with a break below 1.0713 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The trade in GBPUSD made a new high for wave [b] today as the price continues to hold below the previous wave ‘A’ high at 1.2447.
This pattern is gettign close to invalidation now,
The rally in wave (c) will reach equality with wave (a) at 1.2407.
so I would like to see the high at wave ‘A’ hold at 1.2447.
And wave [c] down begin with a break of 1.2200 again in wave (i) blue.

Tomorrow;
Wave waves up in wave (c) should top out below 1.2447.
Lets see if tomorrow brings the long awaited reversal.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is holding below that confirmatoin level at wave (iv) at 133.00 again this evening.
The high of the session got close,
but so far that level is acting as resistance to any rally.
I want to see wave (iii) break above that level at a minimum and top out near 134.00 before wave (iv) corrects sideways again.

Tomorrow;
The price has only traced out three waves up so far.
Wave (iii) must push higher again tomorrow to confirm this bullish pattern in wave [i] green.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow is holding ust below the 50% retracement level of the recent decline off wave (ii) tonight.
and after thinking about this today,
I am switching to the alternate count for wave ‘i’ and ‘ii’ pink.
The switch also makes it a little easier to label.

The outlook does not change though.
This is still a corrective rally in wave ‘ii’.
And this pattern will reverse lower into wave ‘iii’ pink.

A the moment wave ‘ii’ is tracing out a 5,3,5 internal pattern.
Wave ‘c’ has broken the wave ‘a’ high already,
and wave ‘c’ of ‘ii’ will reach equality with wave ‘a’ 33096.
That gives a tight cluster of target for the final high of wave ‘ii’ between 32970 and 33096.

Tomorrow;
Three waves up into wave ‘ii’ to finish the week looks like the idea here.
Lets see how this plays out tomorrow.
A sharp decline will suggest wave ‘ii’ is complete.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I am watching the tightening of this trading range over the last few days with interest now.
There is a possibility that we have a triangle building here.
And tomorrows trade will confirm that idea if wave see another corrective three wave drop into 1960 again.
This opens up another alternate count here for the short term pattern,
and this can be see in red.

Tomorrow;
the main count remains valid for now.
A break of 1933 is required to confirm the main wave count.
I will be switching to the alternate count if we see another weak sideways trade tomorrow.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil and the stock market are trading in line with each other pretty well over the last month.
Both crude and stocks are sitting at a corrective lower high,
with the potential for a sharp decline into a third wave looming large on the horizon.
Crude is holding on for another day at this wave [ii] high.
the internal pattern is complete for wave [ii].
Waves (a) and (c) have reached equality at the 62% retracement level.
So,
in terms of an exempliry elliott wave pattern,
this is it!

Tomorrow;
Wave [iii] down is only a few days away now.
The key level lies at that wave (b) low of 66.79.
Watch for wave (i) to break that level after a five wave decline.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I mentioned complacency in the market last night,
and today I looked at the daily volume on the S&P to see how that picture looked.
after a brief spike in volume in the early march declines,
volume has completely fallen off a cliff in the last few weeks.
Complacency is entrenched in this market again.

the short term pattern shows the price is back at the 62% retracement level of wave ‘i’.
The internal pattern of wave ‘ii’ is a real complex one for sure.
It is possible this is a tripple combination correction in wave ‘ii’.
If that is the case,
it would explain the complete roller coaster that has been over the last few weeks.
In this scenario,
wave ‘c’ of ‘ii’ does not need to compelte a five wave internal pattern.
So todays new high can be the end of this correction now.

Tomorrow;
Watch for a reversal to occur in this resistance range between 4047 and 4078 again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver lives to fight another day as the price retaces all of last nights declines.
I must now hold off and wait until the next revesal off wave (v) to begin tracking wave (a) of [ii] again.
This is frustrating I know,
but I also know that silver is a prime example of a market that will shock with a sharp reversal out of nowhere.
And I think one of those moments is coming soon.

Tomorrow;
Watch for wave (v) of [i] to top out again with an eye on 22.80 again in wave (a) of [ii].