Good evening to one and all, the Lord’s Blessings to you tonight.

Does this look like a war build up to anyone else??

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I have moved the wave count on the hourly chart by one degree tonight.
This is probably a more fitting interpretation after the size of that recent correction higher.
The high today retraced 50% of the previous decline.
so that completes wave (ii) of [c] of ‘2’.
wave (iii) of [c] should now turn lower in five waves,
with a target for wave (iii) in the 1.03 area.

Tomorrow’
Three waves up are now in place for wave (ii).
Lets see if this spike lower will begin wave ‘i’ of (iii).
A break below 1.07 again will favor this wave count.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I have switched to the alternate count for GBPUSD tonight.
That alternate count suggests wave [b] of ‘2’ is already near to completion here.
The price made a new high above the wave ‘1’ high at 1.2679,
but that new high was made after a three wave rally.

This action now classifies the correction in wave ‘2’ as an expanded flat.
Wave [b] of ‘2’ can make a new high in that scenario.
and wave [c] down should make a new low below 1.2300.
In my view wave [c] will fall lower than that to created an extended decline.
But first we need to confirm that wave [b] is actually complete.

Tomorrow;
Watch for a signal that wave [b] has topped out with a five wave drop back below 1.2545 at the wave (a) top.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has triggered another wave count tonight also.
The action has not accelerated higher into wave (v) like I thought it would.
And now,
wave (iv) blue looks more like a contracting triangle pattern.
Todays low may even be the end of that triangle as shown.

If the price holds above the wave (iv) low at 139.27 again tomorrow,
that will signal wave ‘i’ of (v) is underway.

Tomorrow;
Wave ‘i’ should break above 140.00 to confirm the larger wave (v) rally is underway.
Watch for that wave (iv) low to hold.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I will take any sort of decline at this point now that I have been waiting so long for this market to turn!
Nothing has been decided here yet,
even with this new decline.
I want to see a break of initial support at 32580 at the wave ‘iv’ low to get this next leg down underway.
That is a long way down even from todays level.
So I can’t really jump about with excitement just yet!

I have marked a higher support at wave ‘4’ 33398 as a signal level.
If we see an impulsive decline that breaks that level then I will get more interested in the potential here.
For the moment,
I will remain overall bearish but immediately neutral.
I want the market to tip me into that bearish mode again.

Tomorrow;
All eyes on that wave ‘4’ low at 33398.
Lets see if we can manage a break of that level before the week is over.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has been teasing me this week with the potential to roll over without actually confirming the count.
Todays was another day of the same teasing action.
the price did turn down this evening,
but again the wave ‘i’ low has now broken.
I have labelled wave ‘2’ of ‘iii’ as complete at todays lower high.
So I want to see a this new decline accelerate lower into wave ‘3’ of ‘iii’ over the coming days.

Tomorrow;
Watch for wave ‘iii’ to be confirmed with a break of 1931.
The wave ‘ii’ high must hold at 1971.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

crude has dropped back to retrace much of this weeks rally again today which is in line with the main count so far.
I have expanded the wave (ii) count a little this evening to allow for a larger three wave pattern.
Todays decline is labelled wave ‘b’ of (ii).
And wave ‘c’ should push higher again towards 71.00 to complete three waves up.

Even with this move today we are no closer confirming the main count here.
Only a sharp decline into wave (iii) of [iii] will invalidate that alternate count.
If the new idea for wave (ii) is correct,
then we are going to have to wait until next week at least to make the decision between both ideas.

Tomorrow;
Watch for wave ‘b’ to hold above 66.95.
Wave ‘c’ should push higher again to break 70.60 at wave ‘a’.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

There was a glimmer of hope this evening with a nice spike lower off the session high.
Now we see the market ahs retraced most of that decline,
so it remains to be seen if this initial move can develop into something impulsive to the downside over the next two days.

If the market managed to break below the rising wedge again and then hold below that level,
that would be a pattern worth working with.
for the moment I am just going to let the market decide here.

Tomorrow;
There is very little to do here other than watch the closing moves in wave ‘v’ of (c).
And maybe we do see an impulse wave down before the end of the week.
That will give us something to work with next week.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

We have impulsive moves lower in silver,
and they are followed by corrective retracements higher also.
This action has the potential to develop into that wave [c] down.
But the problem I have here is the amount of overlap that has happened so far.
This puzzle needs to be solved with a clear five wave drop in wave ‘iii’ to break 23.00 again.
If that heppens,
that will be enough for me to confirm wave (i) of [c] is underway.

Tomorrow;
Watch for wave ‘iii’ of (i) to confirm the pattern with a break of 23.00 again.