Good evening to one and all.

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

Interesting look at the divergence in the banking sector underway.

This chart from John Hussman suggests the 12yr return in the stock market will be 0.0% in 2035 from todays levels.

A big decline first and then back to flat by 2035.

Thats a big long road to nowhere.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The action off the wave ‘1’,low at 1.0908 is corrective looking and I am sticking with the wave ‘2’ label tonight.
but the rally today has brought us back up close to the recent high at wave (b) again,
so there is a good chance this short term count will be invalidated if we see a break of 1.1075 again.

Tomorrow;
I know this count is close to the edge here.
but the impulsive nature of the recent decline in wave ‘1’ is still appealing to me.

The high of wave (b) must hold.
I want to see wave ‘3’ of ‘i’ turn lower as soon as possible.
And a break of the wave ‘1’ low at 1.0908 will confirm this count.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has risen back to the upper trend line again today and broken the wave ‘a’ high again.
This rally is labelled wave ‘c’ of ‘ii’.
And the minimum target for wave ‘c’ has been met by hitting the wave ‘a’ high again.
Of course now I need confirmation of this count with a turn down into wave ‘iii’ again.
That simply must happen in the next few sessions in order to stay with this count.

Tomorrow;
Watch for wave ‘c’ of ‘ii’ to top out now.
And then wave ‘1’ of ‘iii’ should fall back below 1.2342 again to confirm that wave ‘iii’ has begun.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is holding above the wave ‘ii’ low again today but without any acceleration into wave ‘iii’, yet.
If the price turns higher again tomorrow and breaks the wave ‘i’ high at 135.12,
then I will be happy to suggest wave ‘ii’ is in play,
but so far the action is just inconclusive.
The main thrust of this weeks action should be to the upside in wave ‘iii’ of (iii).
but this rally is taking its time to assert itself here.

Tomorrow;
Watch for wave ‘iii’ of (iii) to continue higher and develop into a five wave rally.
The price must hold above 133.55 at wave ‘ii’,
if that level breaks then I will have to go back to the drawing board again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

An early rally today was retraced this afternoon and we end the session with very little to show for the action.
The market is holding a lower high again,
and the last few days have just traced out a sideways pattern overall.
I am willing to give the market time to develop a more discernable pattern off the top before I start piling on the labels the chart.
For the moment,
all I can say for sure here is that any momentum this rally had in wave ‘c’ of (ii),
is now gone.
And the chances of a roll-over are growing.

Tomorrow;
Watch for this lower high pattern to hold.
Wave ‘i’ of (iii) needs to get going though so I would like to see a more impulsive move lower to develop before the end of this week.

GOLD

GOLD 1hr.

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GOLD daily.

I can probably repeat much of what I said above for gold also tonight.
The market has done very little to nothing today to advance the wave ‘a’ pattern.
I am still suggesting a five wave decline into wave ‘a’ here.
And if that is true,
then we should see an acceleration lower this week in wave ‘3’ of ‘a’ as shown.
The price has created a possible impulsive decline off the wave ‘ii’ high,
and the price is now holding at a lower high below the wave ‘2’ level also tonight.
I would like to see a break of 1933 again in wave ‘3’,
so that wave needs to start soon

Tomorrow;
Watch for wave ‘3’ of ‘a’ to continue lower to break 1933 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The pattern in in wave (ii) is still working itself out today with another spike higher off last weeks lows.
I have labelled this rally as wave ‘c’ of (ii),
and the target area for wave (ii) is suggested at the 80.00 level again.
That would give us a 50% retracement of wave (i).
And at that point I will begin to look for a reversal into wave ‘i’ of (iii) again.

Tomorrow;
Watch for wave ‘c’ of (ii) to complete five waves up towards 80.00 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has sept another day just drifting along below last weeks highs again.
And just like the Dow,
I cant make out any impulsive pattern in the actoin yet.
Last weeks high did finish quite nicely with an ending diagonal wave ‘5’ of ‘c’ of (ii).
And now the market needs to prove that top is final for wave (ii)
by moving lower with an impulsive acceleration into wave ‘i’ of (iii).

I remain hopeful that we will see wave ‘i’ down this week.

Tomorrow;
WAtch for the market to hold below last weeks highs.
As longs as the market continues to step lower,
then this count remains valid for wave (ii).

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am looking at waves (a) and (b) a little differently tonight.
There is a possible wedge pattern in place for wave (a) al last weeks lows,
and wave (b) is still tracing out a three wave correction sideways today.
Wave ‘c’ of (b) should break the wave ‘a’ high to complete this pattern at 25.50 again this week.

Tomorrow;
Watch for wave ‘c’ to continue higher and complete a lower high correction at 25.50 by midweek.