Good evening to one and all.

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

Jobless Claims Finally Rise As Layoffs Soar At Fastest Pace ‘Since Lehman’

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The action continues to be corrective to the upside today and now I am suggesting that wave ‘i’ and ‘ii’ are pretty much complete here.
This pattern means a bearish impulse wave is now in place at todays highs,
and the next move should involve an acceleration lower into wave ‘iii’ of (c).

Tomorrow;
The low at wave ‘i’ lies at 1.0523,
a break of that level will signal wave ‘iii’ is underway.

Wave (b) must hold at 1.0695 agian and wave (c) should continue lower in five waves towards that target area at 1.02 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I have switched the wave count for wave [b] green today as the pattern was not developing like I suspected it would.
Now I am working with a triangle pattern for wave [b] which completed at 1.2142.
And a series of 1,2 waves lower to begin wave [c] as shown.
The session high today is shown as wave ‘ii’ of (iii).
And now wave ‘iii’ of (iii) should continue lower in five waves as shown.

Tomorrow;
Watch for wave ‘iii’ to turn and accelerate lower early tomorrow.
A break of the low at 1.1802 will signal wave ‘iii’ of (iii) is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY came very close to invalidating the extended wave ‘v’ count today,
but so far the low at wave ‘iv’ is holding at 135.54.
And the decline into todays lows is still corrective in nature as a three wave pattern.
Wave ‘3’ of ‘v’ should continue higher tomorrow to confirm this pattern,
and I am still suggesting a top for wave ‘v’ at 140.35.

Tomorrow;
Watch for the low at wave ‘iv’ to hold and wave ‘v’ to trace out five waves up as shown.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Well,
The Dow burst into action to the downside again today,
and that sharp decline seems to be suggesting we are moving into a third wave acceleration phase now.

Wave ‘3’ of ‘iii’ is making good progress lower today,
but I am expecting a lot from this pattern over the next week in wave (iii) blue,
so there is much more work left to go here.

Wave ‘3’ of ‘iii’ should break below below 31500 at a minimum I suspect.
That level marks equality between wave ‘i’ pink and wave ‘iii’ pink.

The larger wave ‘iii’ pink has a Fibonacci extension target at 30345.
this can be seen on the 4hr chart.
That target would create enough depth in the wave (iii) to then begin to look for a temporary low later next week.

Tomorrow;
For the next few days it is simply a matter of following wave ‘iii’ of (iii) lower to make sure the pattern is making enough progress to the downside.
Watch for wave ‘2’ to hold at todays high of 32977.
Wave ‘3’ should continue to fall in five waves towards 31500 as shown.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold did not sell off at all today which is surprising to be honest,
but I am still pretty happy in suggesting this current rally as a second wave lower high,
with a third wave decline coming our way soon if this count is correct.

The wave ‘ii’ high has retraced just over 50% of the wave ‘i’ decline now.
And the pattern still looks like a three wave correction higher in wave ‘ii’.
so wave ‘iii’ of (c) should begin tomorrow and break below 1800 to confirm this pattern.

Tomorrow;
Watch for wave ‘iii’ down to continue in five waves as shown.
Wave ‘1’ of ‘iii’ should break that 1800 level to kick off the next leg down.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Now Crude oil is making progress into wave (i) today.
The market was hit with that general risk off selling over the last few hours,
and now the price is getting close to reaching that wave (b) low at 73.85 again.

I will have to see how the next few sessions go in terms of the internal pattern of wave (i),
If there is no retracement higher into wave (ii) as shown,
then it is possible that yesterdays retracement was all of wave (ii),
and wave (iii) down is now underway.

Tomorrow;
watch for wave (i) to complete at the wave (b) support at 73.85.
I will be looking for a bounce into wave (ii) early next week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has taken another step lower today also and the session is closing now below the wave ‘i’ low again.
I have rearranged the wave count slightly for wave ‘iii’.
the initial decline off the wave ‘ii’ high is shown as wave ‘1’ and ‘2’ complete at the early highs today,
And now wave ‘3’ of ‘iii’ lower should be underway.
I would like to see wave ‘3’ of ‘iii’ fall into the 3820 area.
And then the larger wave ‘iii’ pink should drop to that next support at 3763 again.
That level marks the low of wave (b) within the previous rally,
and can be seen on the 4hr chart.

Tomorrow;
Watch for wave ‘iii’ down to continue lower over the next three days at least.
And we should complete a five wave decline in wave ‘iii’ near 3700.
3700 marks the level where wave ‘iii’ reaches 162% of wave ‘i’ pink.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Todays high topped at 20.28 after a small three wave bounce.
that completes wave ‘iv’ of (c) at todays high,
and now wave ‘v’ of (c) should make a new low to complete five waves down in wave (c),
and three waves down in wave [iii] green as shown.

Tomorrow;
Watch for wave (c) to complete with a drop towards 19.70 as a ball park target.
Wave [iii] green will then complete,
and wave [iv] should begin early next week.