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

A very healthy consumer don't ya think??

Asset Managers are now long $300 Billion worth of U.S. Equity Index Futures, the largest long position in history, according to Goldman Sachs

Retail sales flatline before a #recession!

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The rally in wave 'c' of (c) is holding up again today and the decline yesterday proved corrective.
Take a look for a moment at the large trend channel in red that surrounds the wave (c) pattern.
The price is topping out at the upper trend channel line in wave 'c' this week.
So,
wave 'a' and 'c' in pink have reached equality right now.
I have been too hasty looking for a decline into wave (d) for sure.
but I can see a solid three wave pattern now completing in wave (c),
and the next logical move here is a three wave decline into wave (d).

Tomorrow;
Watch for wave 'c' of (c) to top out again at the upper trend line.
hopefully wave (d) will begin this week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable reached up to tag that channel line again today in wave 'v' of (v).
The rally looks unhealthy to be honest as the internal corrections are very small
and the price action is very tight in wave (v).
The momentum indicators on the 4hr chart are way overbought here,
so I suspect that this market is in a state of overconfidence and maybe even euphoria!
It is time for a serious change of course to begin.

Tomorrow;
watch for wave 'v' of (v) of [c] of '2' to close out this week.
I can't say that tomorrow is the day,
but we are definitely close here.
Watch 1.2845 as the signal level.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am looking at a more advanced pattern for wave (c) in USDJPY tonight.
The price turned lower again today and that now suggests that wave (c) developing quicker than expected.

The decline this week is viewed as wave 'c' of (c) now underway.
And wave 'c' pink should trace out five waves down overall.
I have shown todays decline as wave '3' of wave 'c'.
so we need another step lower into that 154.00 target area to complete the correction in wave [iv].

Tomorrow;
Watch for wave 'c' to trace out five waves down as shown for the remainder of this week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has added almost 10% in one month.
Well,
I don't know what to say to that only that this truly is an extraordinary popular delusion.

A fifth wave rally is underway here and wave (iii) pushed higher again today.
The price will correct into wave (iv) over the coming days for sure,
but that correction must hold above the wave (i) high at 39600.
If this is indeed a rally in wave [v],
then the pattern is going to take another few weeks to conclude.

Tomorrow;
Watch for wave (iii) to come to a top this week.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

A drop back into the trend line today has begun a correction in wave 'iv' of (v).
Three waves down should take the rest of this week to play out I think.
and I want wave 'iv' to close out above 2395 at the wave 'i' top.
Once this correction is done,
then we can look higher again in wave 'v' next week.

Tomorrow;
Watch for wave 'iv' to continue in a three wave pattern lower as shown.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

We have a sharp rally in crude today that brought the previous wave count to an end.
I have now switched to the alternate count on the daily chart.
This involves a large triangle in wave [4] that should be followed by a drop into wave [5] over the rest of this year.

There is one concern on the hourly chart.
the recent decline has only traced out three waves down to the lows.
And now we have a sharp rally out of the lows.
this can be viewed as a running flat or expanded flat correction in wave '2' as shown.
But the price must hold below the recent highs at 84.00 for this count to hold.

Tomorrow;
Watch for wave [c] of '2' to top out with a break of 82.73 and then turn lower into wave '3' again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P finally dropped out of the all time highs today in a reasonably sharp move lower.
after hitting the upper channel line 4 times in the last few days the price has at least ended that upside pattern.

the question now is this,
does the market finally notice how faro out on a limb the pattern is.
The rally has staged extension after extension over the last few months,
and there has been no consequence yet.
I know this can't go on forever.
But the day we actually turn is a mystery to me.
I have had my nose bitten off more times than I care to remember!

Tomorrow;
Wave (i) down will come one day soon enough.
The sooner the better as far as I can see.
5440 is the first level of interest here.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Three waves down in silver is almost in place now after a further drop today.
Wave (ii) is close to done if this wave count is correct.
The next move is a large acceleration higher into wave (iii).
I have marked the 62% retracement level at 29.80 as a possible target for wave (ii) so lets see if we get there to complete wave (ii).

Tomorrow;
Watch for wave (ii) to close out and then turn higher into wave 'i' of (iii) before the end of this week.