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

Politics 101!

The chart below shows you how to prop up your economy in order to get re-elected!

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

It seems the market is affeered of breaking that wave (a) support today and the price rebounded off Mondays low again.
The main count is now back in limbo again,
only a break of support at wave (a) will confirm wave (c) is underway.
This remains a goal yet to be achieved here.

I have marked the wave ‘1’ low at 1.0801 as resistance.
A break of that level will force me to rethink the pattern for wave ‘iii’ pink.
so in the short term I am holding back for more clarification.

Tomorrow;
Watch for wave ‘4’ to hold below the wave ‘1’ low at 1.0801.
Wave ‘5’ must turn lower again to break support at wave (a).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable turned higher also today but I think this can be viewed as a fourth wave correction within the wave (v) decline.
Wave (v) should trace out five waves down,
and wave ‘iv’ of (v) should top out and turn lower again tomorrow as shown.
Wave ‘v’ of (v) of [i] is still expected to make a new low for this pattern with a break of 1.2500 again.

Tomorrow;
Watch for wave (v) of [i] to complete the decline with a break of 1.2500 and then we can look for a turn higher into wave [ii].

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has come to a halt today without confirming the wave ‘v’ rally yet.
I want to see a break of 152.00 at a minimum to close out this rally in wave (i).
Todays action was quite corrective looking
so I am going to view this as a small correction in wave ‘v’ of (i).
Wave ‘v’ should continue higher tomorrow as suggested.

Tomorrow;
The low at wave ‘iv’ must hold at 151.16 for this count to remain valid.
Watch for wave ‘v’ to continue as shown.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Another step lower today is interesting for sure,
but not big enough to get over excited about yet.
There is still a large shoulder of support down at the wave [iv] lows that has to be dealt with.
A solid break through that area will add some weight to the bearish idea here.
So we will see on that front.

The size of this decline matches the size of the previous declines this year.
So at least there is potential here to be the largest decline in 2024 so far.

In terms of the larger wave count in wave (B) on the daily chart,
We are in a good place for a reversal overall given the three wave pattern is complete.
The market did manage a small throw-over in wave [v] green,
and now we have a reasonable decline in play.
The conditions are good for a turn here.
so lets see how it goes.

Tomorrow;
Watch for wave [i] down to continue to develop in five waves towards support at wave wave [iv] lows.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold continues to defy gravity these days with a rally back to the highs again today.

4hr chart;
The internal count for wave (iii) can be viewed as complete even today with that extra spike higher.
The rally has a clear five wave form overall.
And I think we have about enough done here to look for at least a consolidation into wave (iv).
But that remains elusive at the moment.

1hr chart;
I can see a five wave rally into wave ‘v’ pink today with this new labelling.
The suggestion here is that we see a rollover into wave (iv) beginning this week.

On a side not,
I do find it interesting that gold is now the answer to everything that happens in every other market.
Stocks rally, buy gold,
stocks decline buy gold,
What will happen when stocks crash??
We will see!

Tomorrow;
Watch for wave ‘v’ of (iii) to show signs of a top and then look for a full retracement into wave ‘a’ of (iv).

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is hugging the upper trend line in wave (v) again this evening.
the wedge pattern is complete,
but the reversal remains a dream at the moment!
Three waves up in wave (v) is already in place,
and the 62% retracement has been hit.
I am going to give this pattern another few days to see if the price gives a hint of a top in wave ‘2’.

Tomorrow;
Watch for wave (v) to show sings of running out of steam.
The wave (iv) low at 80.26 is the level to watch to confirm a top is in for wave ‘2’ and wave ‘3’ has begun.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P dropped below the wave ‘i’ high today and now we have a small correction higher in play this evening.
I would like to see a solid push through that 5190 level to at least offer he chance of an impulsive wave down forming.
At the moment we are a little short on action to call anything here.

The more important level to watch is the wave (iv) low at 5055.
And you know a sold break through that level will be the first major signal in favor of a top in wave (B).

Tomorrow;
Watch for the market to continue the move lower and possibly complete five waves down off the high.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

A different take on things tonight.

Starting on the 4hr chart tonight.
You can now see a five wave pattern in place off the lows at wave ‘2’ red.
I have updated the wave count to reflect that now.
This rally is labelled wave [i] of ‘3’ now.
And we should expect a correction into wave [ii] over the coming weeks.

The hourly chart shows the pattern of wave (v) of [i] still ongoing.
the pattern needs another lift into wave ‘v’ of (v) to complete wave [i] and I suspect we will see that this week.

Tomorrow;
Watch for wave (v) blue to complete the pattern as shown in the next few days.