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

Is the treasury market now base building for a larger rally??

Inverted head and shoulders anyone??

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I must admit that the drop off the wave (c) high is beginning to look like a five wave decline overall after todays step lower.
The pattern in wave (d) can still fit,
but I have put in an alternate wave [b] top at 1.0915 just in case.
Even in that alternate count w will see a three wave rally.
So it may be a distinction without a difference.
We will see.

Tomorrow;
The main count remains the same.
The price is expected to turn higher into wave ‘a’ of (d) tomorrow.
And wave ‘a’ will likely hit 1.0850.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The high of the session today did break above the wave ‘i’ low and that complicated things a little.
I have not changed the main pattern yet though,
as this action can be viewed as a leading wedge in wave (i) down rather than a simple five wave impulse pattern.

the overall idea that wave [ii] has topped out and wave [iii] down is beginning still fits.
As long as the price continues to step lower from that wave [ii] high,
then I can stick with this wave count.

Tomorrow;
Watch for wave ‘v’ of (i) to fall back below 1.2687 at a minimum.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY seems to failing upwards today!
The price is moving quite correctively this week even though I am tracking a possible wave ‘iii’ pink.
But the range of action is very small,
and at the moment this can be viewed as a possible correction within wave ‘iii’.
A break above the wave ‘i’ high at 157.72 will confirm this wave ‘iii’ pattern.
The price is quite close to that level now,
so lets see if this count can be confirmed with a step higher tomorrow.

Tomorrow;
Watch for the price to accelerate higher into wave ‘iii’ as shown.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The early action today was quite favorable to recent count.
But the market has rebounded quite well off the lows.
The pattern now shows three waves down into the low.
and now I am forced to think of a possible alternate count here.

Wave (ii) is still a reasonable interpretation of the overall pattern.
Last weeks high is labelled wave ‘a’ of (ii),
and todays low is wave ‘b’ of (ii).
And that leaves a rally into wave ‘c’ to come for the rest of this week.

The pattern as taken a step back today,
but once wave (ii) does compelte I will focus again on wave (iii) down.

Tomorrow;
If this rebound continues towards the wave ‘a’ top at 39110 that will confirm wave ‘c’ is underway.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has basically done nothing so far this week.
And as a result there is no change in the outlook until something changes!

The price continues to drift sideways without conviction.
This can easily be viewed as a small correction within wave ‘3’ of ‘c’.
The very minimum target for wave ‘c’ lies at 2276 at the wave ‘a’ low.
If the price meets the lower channel line that will satisfy the minimum target.
so at the very least I will continue to look for the price to drop into that area to complete the pattern.

Tomorrow;
Wave ‘3’ must make further progress to the downside to break 2276.
The lower target at 2254 is the minimum target for wave ‘3’ of ‘c’.
So there is room to go before I can begin to look higher again for the longer term.

The alternate count on the 4hr chart is viable also so lets see if the price action shifts to favor that triangle pattern over the rest of this week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil has now traced out three waves up off that wave [i] low.
That can be viewed as the top of wave (a) in three waves to begin a flat correction.
I am holding with the main pattern calling for a five wave rally in wave (a),
and the action from here will decide between both patterns.

Tomorrow;
Watch for wave ‘iv’ and ‘v’ to create one more step higher in wave (a) blue.
A break below 76.00 again will signal wave (b) is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Three waves down in wave ‘iv’ pink was completed at todays lows.
And now the market has rebounded back to the highs again in wave ‘v’ of (v).
We are getting very close to a completed pattern at five degrees of trend again.
And once wave (v) tops out,
I will look for a possible top and reversal again in wave (i) down.

Tomorrow;
Watch for wave ‘v’ of (v) of [v] of ‘5’ ‘C’ of (B) to top out with a new high.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is holding at the lows of wave ‘i’ again today.
The price action has not confirmed wave ‘iii’ is underway yet even though we have a very slight new low.
wave ‘iii’ of (c) should accelerate lower and break 28.00 at a minimum to complete.
So far we only have a double bottom with wave ‘i’,
and I am showing an expanded flat correction for wave ‘ii’ as a possible count tonight.

Tomorrow;
Wave ‘ii’ should top out below 30.00 and then turn lower again into wave ‘iii’ as shown.