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

A short week this week but I will be updating for the rest of the week, so back to normal again.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Last weeks pattern was a little premature in wave ‘v’ of (c).
But,
wave ‘v’ of (c) now has a clearer internal pattern after todays bounce.
And now wave ‘5’ of ‘v’ has touched the upper trend channel line at the session high.
this closes out the channel at the top of wave (c) of [b],
and I think we can realistically look for a reversal to begin any day now.

Tomorrow;
WAve [b] has now achieved a 78.6% retracement of wave [a] at todays high.
and the three wave pattern in wave [b] has closed out the rising trend channel.
lets see if the pattern can begin a reversal into wave [c] before the end of the week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

the action in cable today has ruled out Fridays count for wave (v) of [c].
the price reached a new high for the pattern.
And it now seems last weeks action only completed a correction lower in wave ‘ii’ of (v).
IF this new pattern is correct,
then we should see a rally in wave (v) towards the upper trend channel.
The Fibonacci grid shows the level where wave (i) and (v) reach equality at 1.2858.
This seems to be a reasonable first target for wave (v) in this new pattern.

Tomorrow;
Watch for wave ‘iii’ of (v) to continue higher as shown.
The low at wave (iv) must hold at 1.2499.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is the only one which continued in pattern today after that spike against the USD across the markets.
WAve ‘iii’ of (iii) of [c] is now underway after todays turn lower.
The confirmation of this pattern will come with a break of 140.93 again.

Tomorrow;
Watch for wave ‘ii’ to hold at 140.85.
WAve ‘iii’ should continue lower in five waves towards 139.00.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The hysteria seems to have shifted to foreign currencies today.
And Gold got a bid also.
The low volume market has contributed to these moves,
so do not discount the idea that someone is just taking advantage of this fact.
These moves may be countered pretty quickly when liquidity returns.

As for the stock market,
Wave [v] has moved on to another pattern with todays pop to a new high a while ago.
I can see a possible expanded flat correction in wave (iv).
This accounts for the impulsive spike lower in wave ‘c’ of (iv).
And the action higher off that wave (iv) low is chopping its way higher along with falling momentum.
This week may not give us anything to go on given the low volume.
So I return to being a patient bystander to see what comes next.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold caught a bid today and now we have a new high in wave ‘c’ of (ii).
The pattern in wave ‘c’ actually shows a clearer five wave pattern this evening because of that rally.
And the price broke above the 62% retracement level of wave (i).
Now we must wait and see if wave (ii) has done enough to complete the pattern.

Tomorrow;
Watch for weakness soon to indicate that wave (ii) is complete and wave (iii) has begun.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The pattern has taken a new turn again today in crude.
And this makes a complicated correction even more complicated!

Wave (b) is holding on to the action for another few days it seems.
The price traced out three waves up into the recent high,
that takes the wave ‘b’ of (b) label.

And now the price has retraced that recent rally again today.
This suggests wave (b) is now developing in an expanded flat pattern.
And wave ‘c’ of (b) will fall to a new low to below wave ‘a’ at 72.48 again.

Tomorrow;
Watch for wave ‘c’ to fall into that target level.
We should see the end of wave (b) this week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P ruled out the recent impulsive decline as wave ‘i’ down by reaching out to a new high again today.
This does of course bring the market back within reach of invalidating the whole wave ‘2’ pattern again.
That brief respite last week was just a dream it seems!

The market was pretty flat today in general though so while there is still hope I can continue with the wave ‘2’ count here.
Another repeat of the sharp impulsive decline will peak my interest again.
AS I said earlier,
its a case of stand back and see what transpires here.

Tomorrow;
watch for wave ‘v’ to lose momentum again and then we will see if a reversal can happen again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The action in wave ‘ii’ is very hard to decipher here.
we have three waves up into wave ‘b’ again at the recent highs,
and now the price seems to be tracing out three waves dow to hit a new low in wave ‘c’ of ‘ii’.
The target for wave ‘ii’ should again hit 23.64 to complete this correction.
and then we can look higher again into wave ‘iii’.

Tomorrow;
Watch for wave ‘c’ of ‘ii’ to hit that level again this week to complete this complex correction.