Good evening to one and all, the Lord’s Blessings to you tonight.

Would you believe it,
after my run in with a skin infection from a wound a few weeks ago that almost put me in hospital,
Now it strikes again!

My daughter has had chicken pox chicken for the last week ,
and she has a skin infection from an open spot wound on her arm!
That’s two skin infections in a matter of weeks.

My daughter is gone into hospital for treatment tonight,
I am hoping its just a one night thing to get a course of antibiotics,
but we will see.
I would appreciate your prayers for the little lady!

Ok here we go onto the markets.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The market is contemplating a top here for wave ‘iv’ of (c) today.
The price is forming a small double top just above the wave ‘a’ high.
I’m not certain that this is the final spike to complete wave ‘c’ of ‘iv’,
but I think we are close for sure.
the price has completed the minimum expected target for wave ‘iv’ already,
so I think we are close.

Tomorrow;
If we see a break back below 1.0634 again that will confirm wave ‘v’ is underway.
and the minimum target for wave ‘v’ lies down near that lower trend line at about 1.05 again.
This weeks action should be dominated by that wave ‘v’ decline.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable came down off that wave (b) top today in a nice impulsive manner.
I have labelled this decline as wave ‘1’ of ‘i’ of (c),
if that is correct,
then we have a long way down to complete wave (c) from here.

If wave ‘1’ of ‘i’ is done at todays lows,
then wave ‘2’ must form a small lower high below 1.2600 tomorrow.
I am looking at that wave ‘a’ top at 1.2543 to act as an area of resistance for wave ‘2’.
so lets see how the price reacts around that level tomorrow.
Another sharp drop will signal wave ‘i’ of (c) is underway.

Tomorrow;
Watch for wave ‘1’ and ‘2’ to complete that lower high and then turn lower into wave ‘i’ by tomorrow evening.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave ‘iii’ of (v) remains illusive today even though the price is holding above that wave ‘ii’ higher low today.
I want to see a sharp rally for the rest of this week to confirm this wave count in wave (v) blue.
the minimum target for wave ‘iii’ lies above 142.00 where wave ‘iii’ should exceed the elngth of wave ‘i’.

Tomorrow;
Watch for wave ‘ii’ to hold at 138.76.
Wave ‘iii’ must continue higher for the next few sessions.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

We are drawing ever closer to that invalidation line each and every day now.
The action in this rally is still pretty dismal overall.
I can just about make out a five wave pattern within the latest rally off 33400.
even though there is a number of overlaps within that rally.

This could be a terminal move in wave ‘c’ of ‘ii’ as shown.
But the top is just too close for comfort to that wave [ii] high at 34268.
If that level does break tomorrow,
then I will be forced back to the drawing board for wave (c) of [ii].
That count is possible,
don’t get me wrong,
but I would prefer to call this lower high complete at this high rather than the alternate.

Tomorrow;
Watch for wave ‘ii’ to hold below 34268.
I need an immediate turn down into wave ‘iii’ of (i) to revive this wave count now.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has turned lower today without confirming the beginning of wave ‘iii’ yet.
So far that drop is only a minor corrective looking decline.
So we need to see a sharp spike lower to signal that wave ‘ii’ has actually topped out at 1973.
And wave ‘iii’ down is underway.
Lets see if tomorrow can bring that confirmation.

Tomorrow;
Watch for wave ‘1’ of ‘iii’ to drop below 1931 again to confirm this pattern.
The high at wave (b) should hold at 1983.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil continued its dismal month today with a small break below the previous low at wave (b) of [ii].
This action is a reasonable confirmation of the beginning of wave (i) of [iii] now.
The only real issue I have with the count for wave (i) now,
is the fact that the decline today in wave ‘iii’ of (i) has a fair amount of overlap in the action.
This is not enough to get worried about the overall count yet,
but I have made a note of that and I want the pattern in wave (i) down to continue in a clear five wave pattern as shown.
If that happens,
then I wont have to worry about that wave ‘iii’ of (i) so much.

Tomorrow;
Watch for wave ‘iii’ to complete and then turn higher in a correction in wave ‘iv’ of (i).
Wave ‘iv’ must complete below 69.16 t the wave ‘i’ low.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

the S&P finally broke above that 4324 high to confirm this new count for wave [c] of ‘2’.
The internal pattern of wave (v) of [c] is viewed as an ending diagonal at the moment.
That pattern will form a wedge into the high of wave (v).
And each internal sub wave will trace out a three wave structure.
So far that pattern describes the action quite well here.

Nothing changes here this week.
The hunt for a top in wave (v) continues.
At the moment we have a completed wedge pattern into this high tonight.
The market has just tagged the upper trend line this evening,
and if this wedge pattern is correct,
then the price should turn down again tomorrow to indicate the pattern is closing out here.

the market will have to turn lower in a more aggressive fashion this week to signal a turn into wave [i] of ‘3’ in the larger pattern.
One day at a time,
we will get there.

Tomorrow;
Watch for wave ‘v’ of (v) to top out and reverse back below 4214 to signal that this pattern is topping.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has dropped off that possible wave [b] top again today which is in line with the idea that wave [b] is now complete.
The action off the top has only traced out three waves down so far,
so I will need to see a further decline in wave (i) of [c] to confirm this pattern here.

The main target for wave (i) lies at the wave (b) low at 23.23.
A break of that low will confirm this pattern for wave [c] of ‘2’ is underway.

Tomorrow;
Watch for the decline into wave (i) to continue in five waves.
There is some work to do here before we can consider wave [b] complete,
so a break of 23.23 is crucial to this pattern for wave [c].