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

Starbucks Revenue fell 2% over the last year. Since its IPO in 1992, the only periods with a bigger revenue decline than today: 2008-09 and 2020.

https://twitter.com/bullwavesreal

EURUSD.

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EURUSD daily.

Taking another look at the action this evening and I think I have a lock on what’s happening in wave ‘c’.
The price has hit the 78.6% retracement of wave (i) now with todays new high.
and the overall action remains very corrective looking.
Wave ‘c’ is now moving in line with an ending diagonal pattern.
In this pattern wave ‘c’ should trace out five waves internally,
and wave ‘4’ and ‘5’ should step higher to complete the wedge near 1.0840.
And then I will look for wave (iii) to turn lower again.

Tomorrow;
Watch for wave ‘c’ of (ii) to complete an ending diagonal near 1.0840.

GBPUSD

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Cable has now done enough to call this wave (ii) rally complete at todays highs.
the price is sitting at the 78.6% retracement also.
and a three wave pattern is now in place.
Wave (iii) should now get going and turn this market lower again.

Tomorrow;
I want to see wave ‘i’ of (iii) turn lower again tomorrow to confirm this pattern.
The high at wave [ii] must hold at 1.2633.

USDJPY.

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USDJPY daily.

USDJPY is still holding near the highs of this rally with no real signs yet of a reversal.
There is a five wave rally now in place at the highs.
And wave (i) has put in a sizeable rally over the last weeks.
It is time to correct this rally into wave (ii).
I am looking at the wave ‘iv’ low at 155.50 as the initial target for wave ‘a’.
A break of that level will signal wave (ii) is underway.

Tomorrow;
Watch for a turn lower into wave (ii) to begin with a break of 155.50.

DOW JONES.

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There is nothing to show from todays session as the market is essentially flat this week.
The action has dropped to a very small lower high.
but this is too small to label at the moment.
so I can’t really add much to this outlook here.

The cpi data come out today and that has not added any impetus either way,
so at least we don’t have to deal with a big knee jerk jolt that upsets the pattern.
Small victories eh!

Tomorrow;
Watch for a five wave decline into wave ‘i’ to take the market lower for the rest of this week.

GOLD

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I am suggesting a possible wave ‘1’ and ‘2’ lower high in gold today and this could begin the long awaited wave ‘c’ of (iv).
As long as the price holds the lower high below 2378,
then this pattern will fit.
But it is important that wave ‘3’ of ‘c’ now takes the market lower to break the wave ‘b’ level at 2306 and confirm this pattern.

Tomorrow;
The high at wave ‘b’ must hold and wave ‘c’ must continue lower in five waves as shown.

CRUDE OIL.

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I am still going with the wave ‘b’ lower high today even though wave ‘b’ did extend the pattern.
It’s a slightly different pattern here,
but we still have a three wave decline in play off that wave ‘a’ high
And that does suggest the correction in wave (iv) is ongoing.
Wave ‘c’ of (iv) should turn higher to break the wave ‘a’ high at 79.63 by the end of this week.
that will complete the first possible corrective pattern for wave (iv) and we will see then if the pattern will get more complex.

Tomorrow;
Watch for wave ‘b’ to hold above 76.74 and wave ‘c’ to then rally back above 79.63.

S&P 500.

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Well it seems we are going to go all the way with this one!

There may be a new high in the S&P whether I want it or not.
But for the moment I am going to track the possibility of wave (ii) until the end.

I have shown an extended wave ‘3’ of ‘c’ this evening.
this accounts for the push back to the top again this evening.

Wave ‘3’ has a clear five wave pattern.
And the spike lower this morning completes wave ‘4’.
Wave ‘5’ is done at the high this evening.

Tomorrow;
This pattern can be invalidated without a moments notice now.
We are so close to the high that it is almost a forgone conclusion.
It is a shame if this one breaks,
but lets see what happens.

SILVER.

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SILVER daily.

Silver is holding flat also today.
This does not favor the main count,
but it has not been invalidated yet either.
So far we have a potential top in place for wave ‘c’.
and if the price falls back below the wave ‘b’ low at 26.99 then this count gets a big confirmation.
At the moment it is too close to call so I am just going to wait for confirmation on this one.

Tomorrow;
Lets see if wave ‘i’ down falls back into support at 26.99 to confirm the pattern.
A break of 28.76 does not rule out wave (b) altogether,
but it will postpone the decline into wave (c) until next week I think.