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.

EURUSD is now consolidating below the recent wave (b) high in a corrective manner.
and the price has almost traced out a three wave corective pattern at todays high.
Wave ‘2’ may complete above 1.10 again to complete three waves up,
and then reverse down into wave ‘3’ again before the close tomorrow.

Tomorrow;
Watch for this second wave to complete as suggested.
A break of 1.0900 again will signal wave ‘3’ is underway.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The decline into wave ‘i’ was a picture perfect five wave pattern,
but wave ‘ii’ is getting complicated now.
The action was quite messy today and the price is closing near the high of the session
I am hoping that wave ‘ii’ is complete at todays high,
but only a drop back below the wave ‘i’ low again at 1.2360 will signal wave ‘iii’ is underway.

Tomorrow;
Watch for wave ‘ii’ to complete below the wave [b] high at 1.2546.
Wave (i) must now continue lower and develop into a five wave pattern as shown.
Wave ‘iii’ of (i) should break 1.2342 again tomorrow.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am looking for another second wave higher low to build in wave ‘ii’ here,
but so far the price is refusing to correct in any substantial manner at all!
I suppose that is a good problem to have when I am looking for the USD to strengthen in general!

The current pattern in wave (iii) blue does require a second wave retracement though.
WAve ‘i’ of (iii) is a perfect five wave rally.
And now wave ‘ii’ must trace out three waves down to complete a bullish impulse wave.

Tomorrow;
Watch for wave ‘ii’ to drop into 134.00 again and then turn higher into wave ‘iii’ of (iii).

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

It is almost impossible to comment on todays action at all after so little actually happened today.
The price is holding below the high at wave (ii) again.
And wave [ii] green is holding at 34342 again.
There is no sign of an impulsive move lower yet at least.
Although the upside momentum is completely dead this week.
Maybe we will hit a point of realisation in the next few sessions that will put a stop to this rally in wave ‘c’ of (ii).
I know I have been waiting for that to happen without any results so far.
But I am willing to allow the market time here to see if my thesis plays out,
and we see a decline into wave ‘iii’.

Tomorrow;
Watch for wave ‘1’ of ‘i’ to drop below 33270 to signal wave ‘i’ is underway.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The action in gold started well today and we saw another step lowerearly in the session.
The price has rebounded again this evening though.
At the moment I am suggesting this actoin is the first wave to begin wave ‘3’ of ‘a’.
So I am looking for an extended decline in wave ‘3’ of ‘a’ now.
If that is correct,
then wave ‘3’ may even break below 1900 again before correcting into wave ‘4’.
This scenario would be the ideal scenario,
so I am going to remain open minded here.
It is possible wave ‘a’ may even trace a three wave pattern lower overall,
it seems the path forward has not be decided yet by the market.

Tomorrow;
I must remain patient here as this pattern develops.
If the main count is correct,
then we will see a five wave decline develop lower in wave ‘3’ to break 1900 before the end of this week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I am actually taking the bearish count more seriously tonight after the market took another turn lower today.
There is a possibility that five waves down is now completing this evening.
And I have labelled this as wave (i) of [i] of ‘3’.
If this count is correct here,
then we are about to head down in a big way over the coming months into wave ‘3’ blue.

The alternate count showns a much larger expanded flat correction wave (iv).
That pattern will also allow for a five wave decline to complete the correction.
I think we will see which count fits better by the end of the week.

Tomorrow;
Watch for wave ‘v’ of (i) to complete very soon,
there may be one more push below 78.50 left to complete the pattern.
Wave (ii) should begin by tomorrow evening.
And then a bearish lower high may well be done by Friday evening.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is actually closing flat for the last four trading days now.
Even as an ending diagonal wave ‘5’ was stumbling its way higher over that period.
It is a very strange setup to be sure,
and I am a little hesitant to call how this action will turn out here.
I do favor the sharp decline into wave ‘i’ of (iii) for sure.
But,
as I mentioned before,
that invalidation line is so close at hand here that anything could cause a spike in the market and an invalidation of the main pattern.
So it seems I am just going to have to wait to see how this pattern breaks down in the end.

Tomorrow;
Watch for wave (ii) to hold below 4195 again.
A break of 4041 will signal wave ‘i’ is underway.
five waves down in wave ‘i’ should bring the market back below 4000 again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

It is hard to know if that is five wave down into todays low to complete wave (a),
and now a rally in wave (b).
Or,
if the main count is correct showing an expanded flat correction in wave (b).
And the rally this evening is wave ‘c’ of (b) to complete that correction.

The early moves in tomorrow session will decide how that plays out.
I prefer the expanded flat idea here for wave (b) complete at todays highs.
With a reversal lower into wave ‘i’ of (c) beginning tomorrow.

Tomorrow;
Watch for wave (b) to top out early tomorrow and then wave ‘i’ of (c) to break 24.60 tomorrow morning.