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

A must read comment from John Hussman.

This Is Where You Start Bear Markets From.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is still stuck in a sideways grind today without much progress.
The wave ‘2’ idea still fits at the moment.
And the price is dropping again tonight.
I am looking for a sustained decline to break the 1.07 level in wave ‘3’ of ‘i’.
and a full five wave decline to break the wave ‘b’ low at 1.0650 as wave ‘i’ completes.

Tomorrow;
Watch for wave ‘i’ down to trace out five waves over the coming days.
Wave ‘3’ of ‘i’ really must make progress lower tomorrow.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is dropping back off the wave [ii] high again this evening.
The wave (i) count has not been validated yet,
but I think a break of the wave (b) low at 1.2470 will confirm the pattern here.
And wave ‘iii’ of (i) should do that tomorrow.

Tomorrow;
Watch for wave [ii] to hold again at 1.2633.
Wave ‘iii’ down will break 1.2470 to confirm that wave (i) is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is inching higher today and has broken the previous wave (a) low at 154.50.
I am looking at a five wave pattern in wave (i) that is close to completion now.
There is a chance that wave ‘v’ of (i) will push higher once more to break 155.00 again.
If that happens,
then I will liik for a correction lower into wave (ii) in the following days.

Tomorrow;
watch for wave ‘v’ of (i) to push a little higher to close out the rally.
the higher wave (i) goes the better this wave count will look.
Wave [iv] must hold at 151.85.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The market hit the 62% retracement this afternoon and right now there is a small retreat from that level.
Nothing convincing yet of course,
but there is time to allow this pattern to unfold here.
We have three waves up in place in wave [ii] now.
There is not much else left to do to in terms of closing out wave [ii].
So wave [iii] can start any day now.
Wave (i) of [iii] should fall back below the wave (b) low at 37695,
and that is what I am waiting for here.

Tomorrow;
Watch for a signal that wave [ii] is complete with a sharp decline back into the range of wave (b) again.
A break of the wave (b) low will be the signal that I am looking for.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Very limited action in gold today after a possible top in wave ‘2’ of ‘c’ today.
The next step here is a decline into wave ‘3’ of ‘c’.
And a break below 2280 again will be enough to signal wave ‘3’ is underway.

Tomorrow;
The wave ‘b’ high is still vulnerable at the moment so I want to see this decline continue into wave ‘c’ pretty soon.
A break of 2280 is the level to watch.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The pattern over the last few sessions is not ideal in terms of size,
but it is definitely corrective to the upside.
I am taking the view that this sideways move is wave ‘iv’ of (iii) now in play.
Although wave ‘ii’ was much larger than wave ‘iv’,
there is no sign that a larger correction is going to build now.
So I must make do with what is on offer!

If this is actually wave ‘iv’ complete at todays highs,
then wave ‘v’ is now underway off todays highs at 78.95.
A solid target range for wave ‘v’ of (iii) lies between 76.50 at the previous wave (iv) low,
and 75.30 at the 162% extension of wave (i).
WE will see soon enough if we get there at all!

Tomorrow;
Watch for wave ‘iv’ to hold at 78.94.
wave ‘v’ should continue lower as suggested.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

As we go down the degrees of this wave count the pattern gets better and better.
Wave ‘c’ of (ii) has completed a five wave rally with a pop above the upper trend line.
Wave ‘5’ of ‘c’ has completed a five wave pattern also at todays top.
The price has now hit the 78.6% Fib retracement level of wave (i) at the session high,
and now we have a very small reversal off the top as I write this evening.

The dominoes are beginning to line up nicely here,
but the first one needs to fall to set the pattern into motion in wave ‘i’ of (iii).

Tomorrow;
Watch for wave ‘i’ down to begin a five wave decline towards the wave ‘b’ low at 5010.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is showing some weakness tonight off the top of wave ‘c’ of (b).
But no signal yet that wave (c) has begun.
The price is in the area where a correction should top out now,
We will soon see if wave (b) has put in it’s last high before giving up.

A sharp move lower from this point will signal wave ‘i’ of (c) is underway,
but only a drop below 26.00 again will confirm the count.

Tomorrow;
WAtch for the high at 27.50 to hold and wave ‘i’ of (c) to begin a reversal back into support at 26.00.