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 looks like we have five wave down now complete at todays lows.
The minimum target for wave ‘v’ was hit by breaking the wave ‘iii’ low at 1.0844.
And there has been a small bounce off the low of the session this evening.
If we see a break of the wave ‘4’ high at 1.0905 again that will signal wave ‘ii’ is underway.
And wave ‘ii’ should hit the 50% retracement level at 1.0950 after a three wave rally.

Tomorrow;
Watch for wave ‘i’ to hold at 1.0810.
If that level breaks again, that will simply mean wave ‘i’ is still underway.
Wave ‘ii’ will be confirmed with a break above 1.0905.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I have shown a slightly different count for wave ‘ii’ this evening.
The price did break to a new low below wave ‘i’.
But that break happened with a three wave decline into the session low.
I am suggesting a running flat correction for wave ‘ii’ now,
and that pattern may be complete at this evenings highs.
So,
this pattern suggests wave ‘iii’ will now turn lower in wave ‘iii’ of (i) for the rest of the week.

Tomorrow;
If the price holds below 1.2545 then this pattern remains valid.
A break of 1.2400 again will confirm wave ‘iii’ is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The extended rally this week has now brought this wave count to the brink of invalidation.
A break above 137.79 again will rule out the larger wave ‘2’ pattern as shown in the 4hr chart.
And if that happens,
then I will return t the more bullish outlook that suggests wave ‘3’ up is already underway.
so we are on the verge of going back to that previous bullish outlook from a few weeks back.
And in that scenario the current rally can be viewed as wave (i) of [iii] of ‘3’.
With much farther to run.

Tomorrow;
WE should know soon enough where the short term pattern is going.
If the high at 137.79 holds,
then the main wave count will be preferred.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

It seems this larger wave ‘ii’ pattern is explaining the action quite well today.
The price rallied in wave ‘c’ of ‘ii’ this afternoon.
and the resistance level I marked above the small triangle is close to breaking this evening.
I am expecting wave ‘c’ of ‘ii’ to hit 33800 to complete.
And if the market breaks above 33490 again then any doubt about the pattern can be left aside.

If the current pattern for wave ‘ii’ is actually tracing out a running flat correction,
then wave ‘c’ can complete below 33780.
In that case the acceleration lower into wave ‘iii’ will be closer.

Tomorrow;
Watch for wave ‘c’ of ‘ii’ to complete in the area of 33800.
A break back below 32930 again will suggest wave ‘iii’ is already underway.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has actually done enough today to favor the idea that the top is in for wave ‘1’.
However,
I can’t actually confirm that wave (i) down is underway just yet.
the price came very close to breaking the initial support at 1976.
But I am looking for something more substantial in wave ‘iii’ down to confirm this count.
And it looks like I am just going to have to wait for that confirming price action now.

Tomorrow;
Wave ‘iii’ of (i) must make progress tomorrow and extend the declines back below 1950 again in order to confirm this pattern.
The wave ‘1’ low should now act as resistance.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

While that rally today has completed three waves up in this second wave.
I must admit,
I am a little concerned that the rally got that far today!
The wave count still stands for wave ‘ii’ of (i) of [iii] to the downside.
But the price must now make significant progress lower over the coming days to confirm this idea.

The alternate count for wave [ii] green is still a possibility here and if the price breaks above 73.80 again that count will be triggered.

Tomorrow;
Watch for wave ‘ii’ to hold below 73.80.
Wave ‘iii’ down should now begin and take the price back below 69.34 again by the end of the week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I have switched to the alternate count for wave ‘iv’ and ‘v’ of (c) this evening,
and just as I do that the market has halted it’s rally again.

the minimum target for wave ‘v’ of (c) in this scenario lies at the wave ‘iii’ high at 4172.
That level is very much within reach here.
So even with this new pattern I am expecting a rapid turn lower pretty soon as wave (i) of [iii] takes over here.

Tomorrow;
Watch for wave ‘5’ of ‘v’ to break 4172 and then top out soon after to complete five waves up in wave ‘v’ pink.
A break of the 4100 level again will favor the idea that wave (i) of [iii] to the downside is beginning.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Wave (iv) has still got a hold on the proceedings here even if the price managed to break to a new low for the week.
I think this new low is wave ‘b’ of (iv) where wave (iv) is an expanded flat correction.
Wave ‘c’ of (iv) should turn higher again to break 24.20 to complete wave (iv),
and then wave (v) will be ready to turn down again to complete wave [a] as shown.

Overall this initial decline off wave ‘1’ is building a three wave decline into wave ‘2’ red.
And the target for wave ‘2’ red lies at about 21.00 again.
on ce that happens we can begin to look higher again into wave ‘3’.

Tomorrow;
Watch for wave (iv) of [a] to complete and then turn lower into wave (v) by late tomorrow.