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

I love this lady’s analysis, if you have an interest in housing, then she is worth watching.

She really cuts through the BS in the housing story in the U.S and it ain’t pretty.

Ok, down to business.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The main pattern in EURUSD is still chugging along today without much change overall.
I am still looking for one more spike rally in wave ‘c’ of ‘ii’ to complete the corrective action we saw last week.
A break of 1.0952 will complete an expanded flat correction in wave ‘ii’,
and then I can look for a turn lower into wave ‘iii’ of (iii).

Tomorrow;
The target remains the same for wave ‘ii’.
watch for a push up to the 1.0952 level and then a turn lower into wave ‘iii’ by tomorrow evening.

1.1064 must continue to hold for this pattern to remain valid.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The price action in cable over the last week has completed a perfect triangle at todays high.
Todays high completes wave ‘e’ of (iv),
and as long as the wave ‘c’ top holds at 1.2786 this pattern will remain valid.
If that level breaks,
then I will be forced to rethink this overall pattern in wave [i].

Tomorrow;
Its a close call right now,
but I am looking for the wave ‘c’ high to hold and for price to turn lower into wave (v) of [i] again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has turned higher again today and I am suggesting that wave ‘5’ of ‘ii’ is now underway.
I am looking for wave ‘5’ to extend the pattern higher over the next few days.
The fact remains that wave ‘3’ of ‘iii’ did not accelerate higher as you might expect,
so that job is left to wave ‘5’ to do.
A rally into the 149.00 area would achieve the desired result I think.

Tomorrow;
Watch for wave ‘4’ to hold at 144.93.
Wave ‘5’ of ‘iii’ should continue higher as shown.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

the Dow has whipsawed all over the place today and I think this is a clue to the pattern underway here.
I am suggesting a possible wave ‘iv’ correction as the explanation for todays action.
WAve ‘b’ made a double bottom today,
so I suspect wave ‘c’ will break back above 34650 to complete wave ‘iv’.
Wave ‘v’ should turn lower later in the week if this count is correct.

Tomorrow;
Watch for wave ‘c’ of ‘iv’ to top out with a break of the wave ‘a’ high at 34650.
Wave ‘v’ will then be ready to turn lower again.

GOLD

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GOLD daily.

I continue to wait for wave (ii) to turn higher in three waves towards 1939,
and so far the price has managed to do exactly nothing to achieve that.

A rally back above 1910 again will be the initial signal that wave (ii) is underway.
But I am still waiting for that to happen.

Tomorrow;
Watch for wave ‘a’ of (ii) to trace out three waves up into the 1910 area.

CRUDE OIL.

CRUDE OIL 1hr.

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CRUDE OIL daily.

I am looking at the pattern left after todays action and I can see a clear three wave rally into the high.
That gives us five waves down and three waves up off the recent highs.
If this is a bearish impulse wave complete at todays high,
Then I am wrong about the wave (iv) pattern,
and we have more downside ahead over the coming week.

I am not quite sure what alternate pattern this might lead to.
But I can’t ignore this possibility,
so I will definitely keep an eye on it over the coming days.

Tomorrow;
Watch for the wave (iv) low to hold at 78.64.
Wave ‘iii’ of (v) must turn higher tomorrow to confirm this pattern.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P managed to rally slightly today with a brief break above 4400 at the top.
I am suggesting that this rally is corrective to the upside,
and wave ‘4’ of ‘iii’ completed at todays highs.
Wave ‘5’ of ‘iii’ must turn lower tomorrow to break 4340 again.
That will complete wave ‘iii’ down and setup for a rally into wave ‘iv’ over the next few days.

Overall this week I am looking for the larger wave (i) down to complete off the recent highs.
4250 looks like a reasonable target for this pattern to complete.

Tomorrow;
Watch for wave ‘4’ to top out and reverse into wave ‘5’ of ‘iii’.

SILVER.

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SILVER 4hr.

SILVER daily.

Silver has pushed higher today and I am a little more confident of the main wave count now because of this action.
The rally today is labelled as wave ‘c’ of (ii).
And I am suggesting a target near 23.75 at the 50% retracement level to complete this correction higher.
If this pattern is correct,
then wave (ii) will complete by midweek,
and wave (iii) down will then turn lower again before the end of the week.

Tomorrow;
Watch for wave ‘c’ of (ii) to push into 23.75 to complete this correction.