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

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Todays action was a little strange but EURUSD did make another push lower before the rally this afternoon.
It seems we have another ‘1’ ‘2’ pattern in play here to begin wave ‘iii’ down.
the high at wave ‘ii’ must hold at 1.0931 for this count to remain valid.

The main count is still calling for a sustained decline into wave ‘iii’ of (iii) this week.
So that count must make progress over the next two sessions.

Tomorrow;
Watch for wave ”ii’ to hold at 1.0931.
Wave ‘3’ of ‘iii’ must turn lower again and make progress towards 1.0700 as suggested.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The pattern in cable is in a similar sort of no man’s land tonight after that spike lower and retracement.
Overall I still favor the idea of a wave (v) decline towards 1.2500 to complete the larger pattern.
Todays action can be viewed as wave ‘i’ and ‘ii’ of (v) now complete.
And as long as wave (iv) holds at 1.2800 over the coming days,
then this wave count remains valid.

Tomorrow;
Watch for wave ‘iii’ of (v) to fall back below 1.2600 to confirm the count.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The action in USDJPY did invalidate last nights count for wave ‘4’,
but the price has only traced out another version of the same correction today.
We have three waves down in place this evening.
the low of the session has closed the trend channel,
and that should complete wave ‘4’ of ‘iii’ now.
The price must now turn higher into wave ‘5’ to complete wave ‘iii’ later this week.

Tomorrow;
Watch for the wave ‘i’ high to hold at 143.91.
Wave ‘5’ should turn higher as shown and hit the 148.00 handle to complete wave ‘iii’.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow is moving within the pattern reasonably well today.
the market traced out a three wave rally into todays high and that takes the wave ‘2’ label.
And now we have a lower high in place to begin wave ‘v’ down.
Wave ‘3’ of ‘v’ should continue lower tomorrow and fall towards 34000 to complete.
I would like to see wave ‘v’ complete with a break of 34000 in an ideal situation.

There is also an alternate count for wave ‘iv’ of (i) tonight.
This involves a contracting triangle in wave ‘iv’ pink.
This pattern is also complete and wave ‘v’ should head lower again from here.

Tomorrow;
Watch for wave ‘v’ down to continue lower with the minimum target at 34250.
I would like to see a break of 34000 to complete wave (i).

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Finally the rally in gold came our way to confirm the wave count.
The price has actually rallied enough to consider wave ‘c’ of (ii) now underway.
This wave should top out around 1935 at the 50% retracement level before the end of this week.

Tomorrow;
Watch for wave ‘c’ to trace out five waves up towards 1935.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Todays action does favor the alternate count in crude oil,
but I have not abandoned the main wave count just yet.

I have shown a possible larger five wave pattern in wave ‘c’ which completed at todays lows.
The correction higher over the last few sessions is viewed as wave ‘4’ of ‘c’.
If wave ‘c’ and wave (iv) are now complete at todays lows,
then we should see another rally begin into wave (v) over the next few days.

The price did manage a nice spike rally today to begin wave ‘i’ of (v).
if the price rallies back above the wave ‘4’ high at 81.67 again that will rule out the alternate count and confirm wave (v) is underway.

Tomorrow;
Watch for wave ‘i’ of (v) to push back above 81.70 to confirm the rally in wave (v) is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Todays action has opened up another possibility for the recent action and I have switched the wave count this evening.
I have shown wave (i) now complete at todays lows,
wave (ii) is now underway with todays rally.
I am suggesting todays rally is wave ‘c’ of (ii) now.
Wave ‘c’ should trace out five waves up and top out between 4470 and 4500.
When that target range is hit,
then I will begin looking for a reversal into wave (iii) down again.

Tomorrow;
The pattern is now close to completing the right shoulder of the large head and shoulders pattern around wave ‘2’ now.
Once wave (ii) is compelte,
then I will look for a top and the initial turn into wave (iii) of [i] of ‘3’.
The next leg down into wave (iii) should be quite a shock to the system,
I think wave (iii) will challenge the 4000 level again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

That was quite the rally today in wave ‘5’ of ‘c’ of (ii).
But even though the rally has extended the size of wave (ii),
I don’t think the wave count has been damaged here to be honest.
The price is topping out between the 62% and 78.6% retracement levels this evening,
and if we see a drop back below 23.00 again that will signal wave (ii) is done and wave (iii) is underway.

Tomorrow;
Watch for wave (ii) to top and reverse into wave ‘i’ of (iii).
If this count is correct,
then wave ‘i’ of (iii) should complete before the end of the week.