Good evening to one and all.

The Lord’s Blessing’s to you all again tonight.

This was my day!

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Another possible top for EURUSD came into focus today.
The price dropped sharply off the session high at 1.1030.
And because of that,
I can look for a signal that the top is in for wave [i] again.

We need more downside and a break of support to give a confidence boost in favor of wave (a) of [ii].
So lets hope that initial break of support can happen in wave ‘a’ of (a) tomorrow.

Tomorrow;
Watch for wave ‘a’ to fall and break the wave ‘iv’ low at 1.0800 at a minimum to signal a possible wave [ii] reversal is underway.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The action in cable is moving the the right direction but I am not sure yet what to make of the pattern off the top.
The initial drop in wave ‘i’ is a pretty clear five waves down.
however the action today just whipsawed up and down like a flag in the wind,
It is possible that we have a second wave correction at todays lower high,
but I am just not confident in that pattern yet.
If the price continues to move lower tomorrow then we will have something to work with for sure.

Tomorrow;
the price did break the wave ‘iv’ low today so that is a vote in favor of the bearish count.
Watch for wave ‘iii’ of (i) to drop below 1.2100 in order to strengthen the bearish count.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has not risen out of this corrective pattern and rallied in wave (iii) yet.
The pattern in wave (ii) is solid as far as I can see.
But the only way I can confirm this count is if we see that rally out above 131.12 at wave (i) again.
So we are sitting at a pretty dangerous point in the pattern now.
A break of 127.21 again wil trigger the alternate count.
So that confirmation rally needs to happen now.

Tomorrow;
Watch for wave (ii) to hold above 127.55.
Wave ‘i’ of (iii) must rally tomorrow.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I can’t really expand much on last nights comments to be honest,
there is a decline off the recent top,
but not enough to confirm anything yet.

That drop off wave (ii) is in three waves so far and maybe we will see that decline develop further in the days to come.
But for the moment,
three waves down is a corrective decline until proven otherwise.

I may be a bit defeated here after this weeks market action,
that does not mean my overall thesis has changed at all.
I am still about as confident as ever that we are going to see a major decline take over the market.
I am taking cues from the economic data,
the momentum data,
the sentiment data,
and all of that data call this rally a bear market bounce and nothing else,
but of course I make the mistake of trying to catch the top and call the turn!
So far I have been burned.

Tomorrow;
The high at wave (ii) is holding,
so lets if the market continues lower and traces out a five wave pattern off the high to indicate the possibility of another top for wave (ii).

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Is it possible that a top is in for gold here??
I have been disappointed enough this week to be far more cautious in making that call.
But I can say this,
the decline today looks more impulsive to the downside than corrective so I can at least remain vigilant that wave (a) is a possibility here.

Tomorrow;
I keep pointing to that left shoulder low starting at 1895.
A break below the wave ‘iv’ lows in an impulsive manner will signal wave (a) of [ii] is finally underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The low of the session today almost broke the high of wave ‘i’ of (c)
And while that is not a full retracement of wave (c) which would be ideal,
at least I can say that this decline is large enough to consider wave [ii] complete and wave [iii] underway.

The price bounced off the session lows and is holding above 75.90 this evening.
I am looking for wave (ii) to begin soon,
so there is a good chance that this is the beginning of wave (ii) here.

Tomorrow;
watch for wave (i) of complete and wave (ii) to get underway by holding this small higher low.
Wave (ii) should trace out three waves up towards the 80 handle again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The ending diagonal pattern for wave (c) of [ii] is still my best fit pattern to explain the recent action.
The market managed to break above the wave ‘b’ high at the highs,
and the rally completed with a break of the upper trend line of the wedge this evening.
I can point to an interesting support range between the wave ‘iii’ high at 4007,
and the wave ‘ii’ low at 3884.
I know it is a wide range,
but both levels catch a series of pivot highs and lows within the whole wave [ii] correction.
I will be watching that area as a potential signal level to suggest wave (i) of [iii] is underway.

Tomorrow;
I will continue to look for a topping pattern off a nearby high to signal wave ‘i’ of (i) has begun.
The 4000 level is a good place to start to suggest wave ‘i’ down is underway.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver proved my suspicions correct today in not trusting anything that happens in this market.
The price sold off with a wicked move lower just after breaking above the previous corrective range.
You can call that a third failure at the 24.50 area in a row.
Is this the one to finally kill an over extended rally in wave (1).
I can certainly hope so,
but again,
I cannot trust any move in silver these days.

I have changed the wave count for the last 2 months action this evening.
I can now track a corrective triangle in wave ‘4’,
and a possible new high in wave ‘5’ at todays top.
We will see soon enough if this decline will be enough to begin a correction in wave (2).

Tomorrow;
IF we do se a break back below the corrective range of wave ‘4’ at 22.50 again,
that will be a strong hint that wave ‘A’ of (2) has begun.