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

Here’s an update from Rosie that is worth watching.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD has corrected sideways into todays high and that action does fit the main pattern in wave ‘2’ of ‘iii’.
The test for this pattern begins now.
The price must now continue lower in wave ‘iii’ again and accelerate lower to break support at the previous wave ‘iv’ low again at 1.0832.
This is not much to ask now,
given that we are so close to that level.
But wave ‘iii’ is expected to do much more.
I have set an initial target for wave ‘iii’ at 1.0705.
This is the area where wave ‘iii’ will reach 100% of wave ‘i’.
And that is the minimum that could be expected off wave ‘iii’.

Tomorrow;
WAtch for that wave ‘ii’ high to hold at 1.1064.
Wave ‘iii’ down should continue lower as suggested.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I have changed to the triangle idea for wave (iv) tonight.
The action today just seems to fit that range contraction a little better now.
The price has risen in three waves off Mondays lows now,
and this move is labelled as wave ‘c’ of (iv).
If this count is correct,
then wave (iv) will continue to contract tomorrow in wave ‘d’ and ‘e’ to complete the pattern.
Wave (v) will then take another step lower towards 1.2500 later in the week.

Tomorrow;
The high at wave ‘c’ must hold at 1.2753 for this pattern to remain valid.
Wave (iv) will complete below that level and then turn lower into wave (v) by Thursday evening.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has done very little again today and because of that I am beginning to favor the alternate count for wave ‘1’ and ‘2’ now.
That alternate count will allow for a larger drop in a wave ‘2’ correction back into the 143.00 handle again.
And if that happens,
then later in the week I will look for the wave ‘iii’ rally to take over again.
We will see soon enough if the alternate count can take over.
Another drop below 145.00 again will favor that idea.

Tomorrow;
I am giving the main count one more day to prove itself.
So lets see if wave ‘3’ of ‘iii’ can rally tomorrow to confirm the main count.
A break above 146.00 even will favor the main count.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

It was a good start to the session today with a solid move lower that actually broke the 35000 level for a while.
This evening the market has settled down again and we see a consolidation at the support level at wave ‘i’ pink.
I can definitely welcome todays action,
The market has broken below the triangle trend lines that I spoke about last night.
But,
I do need to see further declines in wave ‘3’ of ‘iii’ to give the bearish count a solid probability boost.
The more corrective action we see,
the less likely my bearish count becomes.

Tomorrow;
It was a good first move into wave ‘3’ today so I want to see some follow through to the downside tomorrow.
Watch for wave ‘3’ of ‘ii’ to trace out a clear five wave pattern and fall towards the 34500 level again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold briefly broke the 1900 level today which moves the low for wave (i) to 1896 now.
This is another small step in the right direction overall.
But it is interesting how the wave [a] low at 1892 is holding so far.
It would be great to see a solid break of that level to complete wave (i) and then turn higher into wave (ii) later in the week.
A break of support like that would give a real boost to the main wave count for sure.

You can see that I have left the alternate wave [b] count in place even now,
that is simply because I cannot rule this pattern out yet.
And the more downside we get,
the less probable this count becomes.

Tomorrow;
I am still waiting for that turn higher into a second wave correction.
Wave (ii) is coming,
so lets see if Wednesdays trade can begin that three wave rally higher to 1946 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil took another step towards the target today without quite reaching initial support yet.
The price is holding above 79.68 this evening,
I do want to see a break of that level at least tomorrow to confirm the wave (iv) count as an expanded flat.
The minimum target for wave ‘c’ lies at 78.50 at the wave ‘a’ low.
So there is still more downside ahead in this scenario.

Tomorrow;
Watch for wave ‘c’ of (iv) to trace out five waves down as expected and to break 78.50 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P completed a lower high in wave ‘2’ yesterday and then today the price turned lower again into a possible wave ‘3’ of ‘iii’.
The market has not extended the wave ‘3’ pattern yet,
but the wave count suggests that we will see further declines towards that next support at 4377 in the next few sessions.
The faster this decline becomes, the better for this wave count.
So the action today is good for this count,
but we definitely need to see more downside to confirm the pattern.

I find it frustrating that this market is taking so long to roll over,
but every step lower is a step in the right direction.
So patience is called for until the wave count is confirmed with that long awaited acceleration lower into wave ‘iii’ of (i).

Tomorrow;
Watch for wave ‘iii’ down to continue to trace out five waves down and break 4377 at a minimum.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

A new low was made in wave ‘b’ today at 22.21,
but the price bounced off that low and is now flat on the session.
the wave count for wave ‘iv’ remains in tact tonight.
I am expecting wave ‘c’ to push higher to break 22.99 again to complete this pattern.
And then wave ‘v’ should turn lower by the end of the week.

Tomorrow;
Watch for wave ‘iv’ to complete this expanded flat pattern with a break above 22.99 again.