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

No nightly updates next week, 17th – 21st of July.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The triangle wave [b] was blown out of the water today.
I am still convinced that wave ‘2’ will create a new low down near 1.03 over the next few months.
But now we have to contend with an expanded flat correction in wave ‘2’,
rather than the previous wave count.

Wave [b] has made a new high again now.
and the price is tracing out three waves up in a channel as you might expect.
the current high is viewed as wave (c) of [b].
and I am suggesting a three wave pattern for wave ‘c’.

Wave ‘c’ and ‘a’ will reach equality at 1.1200.
The price will hit the upper channel liner at that level also.

Tomorrow;
Watch for wave ‘c’ to complete five waves up and top out by the end of this week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is all over the place today as the price searches for a top in wave ‘v’ of (v) of [v].
the ending diagonal wave (v) is still a possibility here,
with wave ‘v’ extending out above the trend line.
If the price drops back below 1.2850 again at the wave (iii) high,
that will signal wave (v) is done.

Tomorrow;
I am watching for wave (v) blue to top out soon.
This rally in wave ‘C’ has done enough as far as I can see.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am starting on the Daily chart tonight.
The decline over the last week has been very sharp.
And even though I was looking for a reversal in wave [iv].
I gotta admit that this decline is looking so impulsive now.
And I would be foolish not to at least consider the possibility of a larger degree decline happening.

the daily chart shows a possible (1) (2) pattern off the recent top at 151.80.
I do not prefer this count at all to be honest.
but that does not mean it is impossible.

I can see both EURUSD and Cable topping out pretty soon,
and that does suggest USDJPY will return to a rally phase again.
So I will just keep this alternate count as a possible replacement for now.

Tomorrow;
If the price breaks 137.80 again that will rule out the wave [iv] decline idea.
I know for sure that this market is well oversold here,
so lets see how how the retracement of this sharp drop plays out over the rest of the week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Another nice decline wave has been ruled out as an impulse wave to begin a reversal.
That does not deter me at all to be honest.
I know this rally is so long over due a top that we are but moments away from it now.

I have switched to the alternate count in the Dow this evening.
But the internal pattern for the recent rally remains the same.

Take a look at the 4hr chart here.
The rally in wave (v) of [c] of ‘2’ is a wedge pattern for sure.
There is a nice declining relationship between the internal waves.
and the corrective waves overlap the previous highs.

This current top is happening in wave ‘v’ of (v) of [c].
and the market has already made a new high for wave ‘v’.
The minimum target for wave ‘v’ has been hit.
But the wave (iii) top at 34940 has not been broken yet.

Maybe we get a failure at this final fifth to finish off the last 9 months of rallying.
The market action is definitely tired over the last few months
with repeating overlaps
and now 5 attempts to make a new high with failure each time.

We will know soon enough on that front.

so what happens from here?

Tomorrow;
Wave (v) has a solid pattern in play here again.
The recent sideways move has completed wave ‘iv’ and now a rally in wave ‘v’ is all but done.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I have switched to an alternate pattern for wave [b] of ‘2’ today after that spike higher.
That rally has ruled out the previous pattern for wave [a].
So I think we are a bit further on in this wave ‘2’ red than I previously thought.

The current rally is still viewed as a three wave correction higher.
And I think we are now looking at wave (c) of [b] in play here.

Wave (c) has the potential to push back to the highs at 1980 again to complete wave [b].
And after that is done,
then wave [c] down will be set to begin.

Tomorrow;
Watch for wave ‘iii’ of (c) to top out near 1970.
Wave ‘iv’ and ‘v’ will probably bring us into next week to finish wave (c) of [b].

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

WAve ‘c’ of (c) is on track to complete a five wave pattern near 77.00 next week.
the current top is viewed as wave ‘3’ of ‘c’.
and that leaves one more step higher in wave ‘4’ and ‘5’ to complete the larger pattern.
Wave ‘4’ should hold above 72.70 at the wave ‘a’ high.
and then turn higher into wave ‘5’ by Friday evening.

Tomorrow;
Watch for wave ‘4’ of ‘c’ to turn lower and trace out three waves down towards 72.70 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I have switched to the alternate count in the S&P today also.
This rally is now viewed as wave ‘b’ of (iv).
There is a clear three wave pattern higher off 4327.
this should complete wave ‘b’ and then turn lower into wave ‘c’ by the end of this week.

If this pattern is correct,
then wave (iv) and (v) will drag on this topping process in wave ‘2’ for another few weeks.

Tomorrow;
A top in wave ‘b’ is due soon.
The price should tag that upper channel line and then fall back in wave ‘c’ to hit 4320 again and complete the expanded flat correction with a break of that support.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver went vertical today and that move has triggered the alternate count for wave [b] of ‘2’.
Wave [b] is viewed as a complex flat at the moment.
With a 3,3,3 internal pattern.
Wave (c) of [b] is now underway.
and that rally today happened in wave ‘c’ of (c) of [b].

Wave ‘c’ pink should trace out five waves up and top out with a break of 24.50 again.
Wave [c] down is put on hold for the next week at least.

Tomorrow;
Watch for wave ‘c’ to complete five waves up over the next few sessions.

A break of 23.30 again will suggest wave [b] is done and wave [c] is underway.