Good evening to one and all.

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

The action has been brisk over the last few hours,
but to sum it all up – spike and reversal, is the name of the game tonight! So lets get into it shall we.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD did rally again this evening and that action has forced a rethink of the pattern,
but the price has topped out below the 78.6% retracement of wave (a).
It remains to be seen if the reversal will gain momentum tomorrow to begin wave (c).
I am suggesting that a break below the wave ‘a’ high at 1.0747 again will signal wave (c) is in play.

Tomorrow;
Watch for wave (b) to hold at today’s spike high.
A break of that wave ‘a’ top at 1.0747 again will favor the wave (c) count.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

A similar spike rally this evening in cable broke the 78.6% retracement level,
but just like EURUSD,
the price has come off that high again.
I cannot confirm the top is in for wave [b] here,
but I still favor that a reversal lower is coming into wave [c].
In that scenario, it is just a matter of time before wave (i) of [c] breaks 1.20 again and confirms the short term pattern.

Tomorrow;
Watch for wave (i) of [c] to take over with a five wave decline towards 1.20 again.
A break of the wave (a) high at 1.22 again will signal wave (i) has begun.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY dropped sharply this evening in wave (v) of [c].
The price did not break the previous wave (iii) level though,
so I am remaining open minded here to the idea that wave [c] of ‘2’ is already complete at 130.53.

if that level holds again tomorrow,
that will confirm the low is in for wave ‘2’ already and I will focus on that wave [i] rally as shown.

Tomorrow;
Watch for wave (v) of [c] of ‘2’ to complete with a break of 130.53.
A rally back above 133.00 again will signal wave [i] is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow has traded the same this evening,
a spike to a slight new high and now a pretty sharp reversal off that new high.
The high of the session just pipped above the 62% retracement level,
and now I think we can call this decline a rejection of that level.
The pattern in wave ‘2’ of ‘iii’ is looking a little clearer now.
An acceleration lower in wave ‘3’ of ‘iii’ is what the pattern now calls for.
So I can only suggest this evening’s action is in line with that idea now.

If this count in wave ‘3’ of ‘iii’ is correct and now underway,
then we can expect further declines for the rest of this week’s trade.

I am still looking towards that initial target area for wave ‘3’ near 30200.
This level is suggested by the larger wave count for wave (iii) blue.
A sharp five wave decline should manage that target by the end of the week.

Tomorrow;
A break of the wave ‘1’ low at 31430 again will signal wave ‘3’ is underway.
Watch for today’s high at wave ‘2’ to hold.
The price should continue lower in a clear five wave pattern in wave ‘3’ of ‘iii’.
Wave ‘3’ will reach equality with wave ‘1’ at 30605.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has rebounded off Tuesday’s low and so far the price has retraced about 50% of the initial decline in wave ‘a’ pink.
The price must now top out in wave ‘b’ of (ii),
and then fall again into wave ‘c’ tomorrow if this count is to remain valid.

The very minimum target for wave ‘c’ lies at that wave ‘a’ low of 1933.
but I would like to see a larger five wave decline back below 1900 again to create a solid second wave retracement.
In terms of the pattern,
the deeper this second wave goes the better really.

tomorrow;
Watch for this high at wave ‘b’ to hold and wave ‘c’ to begin with a break of 1933.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I have shown a slightly different interpretation for waves (iii) and (iv) this evening.
And in this new scenario,
wave (iv) is now completing an expanded flat correction.
This weeks low forms wave ‘b’ of (iv),
and today’s high completes wave ‘c’ of (iv).

Wave (v) should carry lower towards 64.00 again to complete the larger wave [iii] green.

Tomorrow;
Watch for wave (v) of [iii] to fall again in five waves to a new low for the pattern below 64.35 at wave [iii].

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has whipsawed all over the place this evening as a reaction to the fed speech from Powell.
But the market is now settling lower after that initial spike higher.
and if the count is correct,
The next leg down in wave ‘iii’ should begin from here.

I am looking for a decline below 3809 to confirm that wave ‘iii’ is underway.
But if we do see a break of that wave ‘b’ level at 3870 again,
That should be a clear signal that the tide is turning again.
And we can expect wave ‘1’ of ‘iii’ to break support at 3809 then.

Tomorrow;
Watch for the decline to become more impulsive in nature now as wave ‘iii’ takes over the pattern.
Wave ‘1’ of ‘iii’ should retrace most of the correction in wave ‘ii’.
So I would like to see a break of the wave ‘i’ low again by the end of this week.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Yesterday’s decline was retraced fully this evening by the reactionary rally in most everything.
And now silver has made a new top for wave (v) of [i].
Wave [ii] is still coming,
and if we see a break of the previous wave ‘iv’ low at 22.13,
that will signal wave (a) of [ii] is underway.

Tomorrow;
A top for wave [i] should be confirmed this week.
And then next week will be enough to complete the correction into wave [ii].
I am waiting for that initial decline to signal the top for wave [i] again tomorrow.