Good evening folks, the Lord’s Blessings to you all.

https://twitter.com/bullwavesreal

EURUSD.

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I think todays rally has gone to far to call this a wave ‘iv’ correction.
This rally now takes the wave ‘i’ label to the upside,
and I think we can call wave (i) blue underway now.
The price must continue higher in five waves as shown.
A break of the wave (iv) high at 1.0736 will signal wave (i) of [i] of ‘3’ is in play.

Monday;
Watch for that low at wave ‘2’ to hold at 1.0488,
and wave ‘ii’ to create a higher low as shown.

GBPUSD

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GBPUSD daily.

The rally off that wave [iii] low in cable looks impulsive and in five waves.
I have labelled this as wave (a) of [iv] now.
And I am looking for wave (a) to complete three waves up near 1.2350 early next week.
The larger wave [iv] correction should take at least the next week to complete,
maybe even longer.
And I do expect the overall pattern in wave [iv] to get pretty messy,
so hold onto your hats!

Monday;
Watch for wave (a) to complete three waves up near 1.2350.

USDJPY.

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A sharp drop today led to a pretty quick close for wave ‘iv’ pink at 148.50.
The price has rebounded off the low again this evening and I am suggesting that wave ‘v’ of (v) is now underway.
Wave ‘v’ should trace out three waves up and complete above 150.00 early next week.
Once wave [v] completes next week,
we should then look for a large decline to begin in wave ‘4’ red.
And that decline can fall back towards 140.00 again with ease.
Wave ‘4’ red is a large degree correction and may even take a few months to complete,
so I expect things to get messy from here on out.

Monday;
Watch for wave (v) of [v] of ‘3’ to close out by midweek.
I think a break back below 137.00 again will signal a top is in for wave [v] of ‘3’.

DOW JONES.

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Wave ‘iv’ made a new high early today but the resistance at wave (i) at 34000 held the rally.
And then this afternoon the market reversed sharply off the session high again.
I am suggesting that wave ‘iv’ is complete and wave ‘v’ of (iii) is now underway off todays high.
The drop off today is wave ‘1’ of ‘v’ and I expect five waves down in wave ‘v’ pink to complete by midweek next week.
There is an ideal target area for wave ‘v’ of (iii) down at 32400.
This is where wave (iii) in blue reaches 162% of wave (i).
This may be a bit of a stretch goal right now.
But it is possible for wave ‘v’ to achieve that if we get a nice extension in the pattern.

Tomorrow;
Watch for wave ‘iv’ to hold at todays highs.
Wave ‘v’ should continue lower in five waves.
A break of 33000 would be a nice achievement for wave ‘v’ to hit.
We will see how it goes.

GOLD

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Gold has now hit a 7mth low this evening which is really against the grain for the dominating inflation narrative that we have been fed over the last year.
The pattern is moving along quite well into wave (iii) blue this week,
And if this count is correct then we will see further downside next week also as wave (iii) completes.

I do have a new possible count that I am considering for this wave ‘2’ decline,
but it may not be needed at all.
I will see how the next few days go.

Wave ‘iii’ has been repositioned to this evenings lows at 1847.
The correction higher yesterday is just not large enough to consider as any more than a correction within wave ‘iii’ pink.
If this count is correct we will see a correction higher into wave ‘iv’ beginning on Monday.
And I would like to see that correction hold below 1980.
Wave ‘v’ of (iii) should turn lower again later next week.

Monday;
Watch for wave ‘iv’ to begin a three wave correction higher as suggested and complete below 1980.

CRUDE OIL.

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We have another sharp step down off a lower high in the bag today.
And with that the action is confirming the pattern at least in the short term.
Even so,
the overall top at wave (4) has not been confirmed yet.

So far the move off this weeks high has only created a three wave decline.
A break of the wave (iv) low at 87.80 again will give the bearish reversal pattern a big boost so that is my main focus next week.

Monday;
Watch for five waves down to break the wave (iv) low at 87.80 again to give the wave count a boost.
Wave ‘iii’ of (i) should continue lower on Monday and I would like to see the price hold below the wave ‘i’ low at 90.70 as wave ‘iii’ develops.

S&P 500.

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The market has topped out this evening at 4333 after hitting a slight new high early in the session.
The price has dropped back off this high pretty sharply this evening and I am suggesting that wave ‘1’ of ‘v’ is now underway here.
Wave ‘v’ does need to make more progress next week.
The minimum target lies at 4230 with a break of the wave ‘iii’ low.
I woule like to see a larger extension lower to break 4190.
But much like the Dow,
the most favored target for wave (iii) lies at 4100 where wave (iii) reaches 162% of wave (i).

So the price action has made a whole lot of progress today,
but we do need to continue along this downside path next week to make the larger wave [i] pattern much more viable as an impulsive five wave decline.

Monday;
Watch for wave ‘v’ of (iii) to break below 4237 at the very minimum early next week.

SILVER.

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SILVER daily.

I am looking at a new pattern for wave [b] and [c] in silver tonight.
Wave [b] of ‘2’ has changed to a triangle pattern.
And that wave completed at 23.77 early this week.

Wave [c] down began off that triangle high.
So far we have wave (i) and (ii) of [c] complete at todays high.
Wave (iii) of [c] should continue lower and I would like to see wave (iii) make a low at the lower trend channel line near 2025.
Wave (iii) should control the action for most of next week as shown.

Monday;
WAtch for wave (iii) of [c] to trace out five waves down and hit the lower channel line as shown.
Wave ‘iii’ of (iii) should break below 21.00 again.