Good evening to one and all.

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

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

it seems like today may be the day that the tide has turned in a few markets.
EURUSD is less convincing than others,
but the price is again holding below the wave (b) top,
and the best fit pattern to explain this action is a reversal into wave (c) of [ii].
And so I am left waiting for this next decline back into wave ‘iii’ down to begin.

Tomorrow;
Watch for wave ‘iii’ of (c) to begin with a break below the wave ‘i’ low at 1.0713.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

You could say that we have seen a series of rolling tops in cable over the last 15 days since the wave (a) top.
This action has created the bearish momentum slowdown we see on the 4hr chart.
And This action points to looming reveral pattern in play here.
Todays new top was short lived,

Tomorrow;
Watch for wave ‘i’ of (i) to fall back into 1.2190 again in five waves to confirm wave [c] has begun.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY put in quite a good reversal day today with a solid rally back towards that wave (iv) high at 133.00 again.
I have marked that level as the signal level for the beginning of wave (iii) of [i].
Wave (iii) is expected to push as far as 134.00 before topping out.
And the larger wave [i] should break the previous wave [iv] high at 135.00 to complete.
If this count is correct here,
then we are looking at a much bigger USD rally dead ahead.

Tomorrow;
Watch for wave (iii) to continue higher in five waves over the next few sessions with a target in the area of 134.00 again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has turned back into the main pattern today and this evening the market is very close to hitting the target at 32770.
If the market hits that level tomorrow,
that will complete a three wave correction at the 62% retracement level of wave ‘1’.
At that point the pattern will fullfill all that is required of it.
Complacency has risen again into this high,
and I think the market is now primed for another sharp drop in wave ‘3’ of ‘iii’.

In terms of the alternate count we are at a very interesting point also.
The price is close to retracing 50% of the recent decline off wave (ii) blue.
This is also a perfect point to stop at wave ‘ii’
and reverse into wave ‘iii’ in that pattern also.

If either of these patterns are correct here,
then I think we are lining up for a wild ride lower coming our way.

Tomorrow;
Watch for wave ‘2’ to top out and reverse off that target level of 32770.
A break of 31750 again will signal wave ‘1’ of ‘iii’ is underway.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

No major move lower yet confirm the pattern for wave ‘c’ in gold today,
but that wave ‘2’ high is looking more convincing as a three wave pattern is now in place at a lower high.
And if the price manages to fall back below 1933 again tomorrow,
that will confirm wave ‘c’ is underway.

Tomorrow;
Watch for wave ‘3’ of ‘c’ to continue lower to break 1933 to confirm the pattern in wave (ii).

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil climbed in a very weak manner up along the trend channel line today with a top tick just below the 62% retracement level at 74.39.
The pattern into todays high is a pretty convincing three waves.
The trend channel is filled,
and now the price has dropped off the highs again this evening.
Nothing is confirmed here until the price begins to accelerate lower again in wave (i).
But I gotta say,
that is as good an Elliott wave bearish impulse pattern that I have seen in a long time!

Tomorrow;
Watch for a signal that wave [ii] is complete with a drop back into wave (i) of [iii].
Wave (i) should break the wave (b) low at 66.79 at a minimum.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I can’t make a call between the main and alternate wave ‘ii’ tonight.
The action can be explained by both ideas to be honest!
We have a three wave rise into a very tight lower high this evening in wave ‘2’.
And if the price falls tomorrow without breaking 4040,
then the main count is confirmed and wave ‘3’ of ‘iii’ is underway.

A break of that 4040 level will not ruin the bearish potential at all,
but it will postpone the next leg down for a few days.

So,
it all hinges on what happens early tomorrow.

Tomorrow;
Watch for wave ‘2’ to complete below 4040 and wave ‘3’ down to begin with a break of 3900 again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am looking at a very similar bearish momentum divergence on the 4hr chart in silver also.
The price has staggered higher over the last two weeks,
but the momentum indicators all signal a reversal is coming.
a second wave decline will occur,
that much is sure.
when will the price make that turn,
that is the question in the short term at least.

WAve ‘b’ is holding below the recent top again today and that means the pattern holds for now.
Wave ‘c’ has failed to kick off the next decline yet.
But things can change fast these days so I am not giving up hope on this pattern just yet.

Tomorrow;
Lets see if wave ‘c’ of (a) can turn lower and break the wave ‘a’ low at 22.80 again.