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

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We got a pretty hard step lower today which turns the price back in favor of the main wave count.
Wave ‘ii’ pink has formed a lower high below wave [b].
And now we look for a sustained decline in five waves to complete wave (i) of [c].
Wave ‘iii’ should target the next support level at 1.0830 at the previous wave ‘iv’.
If this count is correct,
then we should continue ower for the rest of this week.

Tomorrow;
Watch for wave ‘iii’ of (i) to continue tracing out five waves down and to hit the support at 1.0830.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable took an even bigger hit today and the price has almost retraced all of the wave (ii) rally now.
Wave (ii) completed just below the 62% retracement level of wave (i).
If this count holds up,
then wave (iii) blue should continue tracing out five waves down as shown.
And wave (iii) should break 1.2588 at the previous wave (iv) low.

Tomorrow;
WAtch for wave (ii) to hold at 1.2996.
Wave ‘i’ and ‘ii’ should form another lower high below wave (ii).
wave (iii) down must trace out five waves down as shown.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Todays action just goes to show that you can’t expect an equal and opposite reaction in the opposing USD cross pairs.

USDJPY took a hit today also.
and this really does put a dent in the bullish count for sure.
I can still stretch the wave count to show a possible wedge in wave (i),
followed by a corrective decline in wave (ii).
We will know soon enough if this count holds up.

Tomorrow;
The low at 137.25 must hold.
If the price does turn higher tomorrow to break 141.97 again,
that will suggest wave (iii) is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow is falling this evening as I write this update.
the action is definitely impulsive looking at the moment.
But its too early to tell anything as usual!

The first support below the here lies at 34575.
That marks the high of wave ‘iii’ of (v).
I want to see a solid break below that level in order to suggest the market is actually building a reasonable reversal pattern here.

Tomorrow;
Watch for a five wave decline to break below the wave ‘iii’ top before the end of this week.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold also took that hard turn lower today and I am suggesting that this is wave ‘iii’ of (i) now in play here.
The price has held above the wave (a) high at 1935 so far.
I want wave ‘iii’ to break that high and fall into the 1910 area ideally.
If that fails to happen,
then I will have to recalculate this short term count.

Tomorrow;
Watch for a break of support at 1935 to increase the probability of this count.
Wave ‘iii’ should fall into 1910 or so to complete.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is sitting pretty at the 78.6% retracement level of wave [i] for the last few sessions.
The action is very slow and overlapping at the moment,
but as of yet there is no actual confirmation of a reversal into wave (i) of [iii].

Wave (i) of [iii] down should be un-mistakable really,
I am looking for a hard reversal and a break below the 70.00 handle again to really convince me of the idea that wave [ii] is complete at this top.
So I am asking a lot here.

Tomorrow;
Watch for wave ‘i’ of (i) to fall off the top in five waves and possible break the 77.00 handle again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The recent top tick on the S&P came in just above the 62% fib of the wave (i) fib grid.
I was tracking the relationship between wave (v) and (i),
and now we get a solid reversal off the top right at that 62% fib level.

Its not a major point,
but it is a nice internal fib connection in the previous rally.

At this point it will take a decline back below 4300 to really spook the market,
but I do know that the conditions are ripe for that type of shock to happen.
This rally is already over extended in historical terms.
So we could easily get a decline similar to the January 2022 drop,
as the conditions now are in some ways even more extreme than back then.

Tomorrow;
Lets deal with this week first!
five waves down to break support at 4377 is the first step here.
Watch for wave ‘i’ and ‘ii’ to form a lower high as shown.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

It is starting to sound like the same wave count is happening across so many different markets now.
A reversal off a corrective top to bring prices to a new low.

Silver took the same turn lower today as much of the other markets!
I am looking for wave ‘iii’ of (i) to begin this week,
and at least now we have a candidate for that reversal today.

I want wave ‘iii’ to fall and break 23.29.
If that level does break that will confirm the recent rally as a correction in wave [b].
Rather than a developing five wave pattern off the 22.00 low.

Tomorrow.
watch for wave ‘iii’ of (i) to continue lower to break 23.29 as shown.
The high at wave [b] must hold from here on out.