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

Here is a chart that I love, and a market that I love, simply because everyone and their mother in law HATES this market with a passion.

No one can see a rally coming in the US treasury market, but I think that is exactly what we are going to get.

Just keep this in mind.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is continuing the slow grind lower in wave ‘4’ of ‘c’ today.
the price has filled the channel at the lows today,
but I am now looking at the wave ‘1’ high at 1.0812 as a likely target to complete this correction.

Wave ‘c’ is shown as an ending diagonal pattern here,
and in that scenario we should see an overlap between wave ‘1’ and wave ‘4’.
And once that happens wave ‘5’ should turn higher again.

Tomorrow;
Watch for wave ‘4’ of ‘c’ to break 1.0812 and then turn higher into wave ‘5’.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is turning lower this evening after a spike to a new high this morning.
The top came at 1.2761 which almost closed the trend channel at the high.
The reversal off the highs is suggesting that the price has now turned into wave ‘i’ of (i) today.

Tomorrow;
Watch for wave ‘i’ of (i) to fall back below the wave ‘iv’ low at 1.2446 to signal the top is in for wave [ii].

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is creeping higher off that wave ‘2’ low today but I am not convinced by the action to be honest.
I was expecting a more impulsive rally to begin wave ‘3’ of ‘iii’,
and that has not happened.
I will be prepared for a change of plans tomorrow just incase.

The fact that wave ‘ii’ pink was so small is still bothering me,
so there may be a reversal in a larger correction in wave ‘ii’ to explain the slow action today.

Tomorrow;
Watch for wave ‘2’ to hold at 155.84 and wave ‘3’ of ‘iii’ to continue higher.
A break of that wave ‘2’ low will signal the price is tracing out a larger wave ‘ii’ correction.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Three waves down off the high so far.
At least the market is moving in the right direction again!

The initial target for wave (i) or wave (iv) is at 39290,
and obviously the further lower the market goes,
the more the pattern shifts in favor of that bearish count in wave (i).
the point where I get convinced of a bearish reversal here lies at 39580 at the previous wave (i) high.

Tomorrow;
Watch for wave (i) to trace out five waves down and break initial support at 39290.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is beginning a decline into wave ‘c’ of (iv) finally today.
The pattern has not traced out five waves down yet,
and I am looking at the wave ‘b’ low at 2330 as the signal level to confirm wave ‘c’ is underway.
From there we should see a bearish lower high in wave ‘2’ maybe by Fridays close.

Tomorrow;
Watch for wave ‘1’ of ‘c’ to continue lower in five waves and break 2330.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has turned lower again today and we are getting close to a break of the wave (iii) low this evening.
I will admit that the internal pattern of wave (v) has not got a clean five wave impulsive look to it yet.
But as long as we continue lower here,
then I can stick with the wave (v) idea.

Tomorrow;
Watch for wave ‘iii’ of (v) to break the low at 76.74 at a minimum.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

It looks like wave ‘c’ of (iv) is turning lower today to create a three wave pattern in wave (iv) by the end of this week.
I am looking at the area of the lower trend channel line at 5253 as the target area here.
If we see an end to wave (iv) this week,
then next week looks like a rally into the end of the pattern for wave (v) of [v].

Tomorrow;
Watch for wave ‘c’ to complete an expanded flat correction in wave (iv) by the end of this week.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has dropped out of that contracting price range around the wave ‘v’ high today.
The pattern is beginning to favor a top in place for wave [i] now,
but there is work to do on the downside before we can confirm that idea.

Wave [ii] should break through the wave (iv) lows at 26.00, maybe even lower.
That would give us a 62% retracement of the rally in wave [i].
And I think that would be enough to bring this market back to a more stable sentiment level.
That would be a good area to build for a rally into wave [iii] later in the summer.

Tomorrow;
Watch for wave ‘a’ of (a) of [ii] to continue lower and break the 29.80 level to begin this longer correction.