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

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is off the highs of the session only slightly today.
And as you can see,
the price is stuck in the range between the 62% and 78.6% retracements of wave (i).
I am looking for a solid break of 1.0800 in wave ‘i’ down,
this will indicate wave (iii) is underway.

Monday;
The hunt for a top in wave (ii) has been frustrating for sure.
And as we head into the second half of June I am hopeful that the next leg down can now begin.
Watch for wave (ii) to hold at this weeks highs.
Wave ‘i’ of (iii) must turn lower early next week to break 1.0800.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I have been chasing this wave [b] top all week and as the pattern extended,
the larger wave ‘B’ idea as an expanded flat has grown weaker.
but today I notice that the current high in wave [b] is now close to a 162% extension of wave [a].
This actually brings this rally back into the proper perspective.
It is a large extension for sure,
but this is within the realm of an expanded flat.
And it does point to an even larger decline into wave [c] coming our way.
This could even reach as high as 262% extension of wave [a].
So I am hopeful that we will see this rally reverse in a big way next week.

Monday;
watch for wave (c) to finally top and fall back again below 1.2680 to begin wave (i) of [c].

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has put in an another rally today and at least I can say that this pair is following the wave pattern quite well here.
If this is wave ‘iii’ of (v) then we should see this upside continue for another few days before wave ‘iii’ tops out.
The ideal top for wave ‘iii’ would be above 143.00.
And then wave ‘iv’ will consolidate the rally.

Monday;
Watch for this wave ‘iii’ rally to trace out five waves up to break 143.00.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I can now see five waves up within wave ‘5’ of ‘v’.
This rally is so very long overdue an answer and a reckoning day for sure.
I can’t add much today on last nights musings.
The big opex day today had very little effect in terms of price,
but that does suggest that the rally into todays opex may have been a self fulfilling prophecy in a way.
As the price gets drawn towards a certain strike area by gravity almost.
Now that gravity is gone.
So the question remains,
can we see reversal come our way next week?

The price has stopped at that key resistance at the wave (a) high this week.
And above us at 34940 is the invalidation level for this pattern.
So,
the pressure is on here for a major turn back into this wave count.
I await next weeks action with baited breath.

Monday;
Watch for wave (c) to hold at this double top with wave (a) blue.
Wave (i) of [iii] is critical now.
It has got to start next week.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Wave ‘c’ of (b) is half way there after Thursdays rally.
But now we see a holt in the progress today.
I am sticking with this wave count for wave (b) into next week.
so I am looking for wave ‘c’ of (b) to rally back to 1983 to complete the correction,
and then a solid decline in wave (c) should come our way by the middle of next week.

Monday;
Watch for wave ‘c’ to complete the expanded flat correction with a break of 1983 by Tuesday evening at the latest.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil pushed slightly higher today but this action is still well within the confines of wave ‘c’ of (ii).
the price hit the upper trend line again today,
and the internal pattern in wave ‘c’ has a five wave form to it.
So now we will see if this pattern is actually correct for wave (ii) of [iii].
If so,
then wave (ii) will top out very quickly next week.
And wave ‘i’ of (iii) should fall back into the 68.00 area again by midweek.

Monday;
Watch for this wave ‘c’ rally to top and turn lower into wave ‘i’.
A break of wave ‘a’ again will signal the top for wave (ii) is in.
A break below 66.90 again will confirm wave (iii) is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Maybe some of you think I am fooling my self with dreams of a market crash!
Last year was just a blip,
and nothing has changed in the grand scheme.
The music is still playing and the bar is still serving and the roulette table is still open for business.
Maybe so,
but the night is far spent,
and the hangover is coming too.

This weeks action has stretched my patience and resolve as a disbeliever in this mass delusion we call a stock market.
I almost gave in,
and then I zoomed out again to view the larger pattern for wave ‘2’ blue.
The overall pattern is still absolutely sound in wave ‘2’ I think.
And That will give way to the wave ‘3’ decline.

Next week I will refocus on the larger pattern and let that guide my lower degree counts.
For the moment I think this wave (v) count on the hourly chart has real potential to topple.
So roll on Monday to see if that happens.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am thinking that the small correction and then rebound today has begun wave ‘v’ of (c) now.
The target for wave (c) lies in the area of 24.50.
And that should be achieved by wave ‘v’ of (C) early next week.
That leaves the second half of the week to top out wave [b] and fall back into wave [c] again.

Tomorrow;
Watch for wave ‘v’ of (c) to push higher towards 24.50.