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

Its been a pretty wild reaction day to the cpi data today across the FX markets.
So we have some changed to the counts as a result.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD rallied earlier in the session in wave ‘a’ of (E) and the pattern is now on course to complete the larger wave [b] this week.
the price is still forming a lower high here and the price has reversed this evening into wave ‘b’ of (e).
I will look for a rally into wave ‘c’ of (e) by Friday to close out the triangle below 1.0915.

tomorrow;
Watch for wave ‘b’ to complete a higher low near 1.0788 and then turn higher into wave ‘c’.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The count in cable has been invalidated today and I have now reverted to the larger pattern to figure out what is going on here.
You can see on the 4hr chart that wave ‘2’ is back in play now.

Wave [b] of ‘2’ is shown at the April lows.
And now wave [c] of ‘2’ is well into its pattern off that low.
A five wave pattern is close to completing in a channel after that sharp rally today.
So I do expect this correction in wave ‘2’ to top out soon.

We will have to wait for another week to get confirmation on that count though.

Tomorrow;
watch for wave (v) of [c] of ‘2’ to top out below 1.3140.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY continues to build higher lows off that wave ‘ii’ low at 154.53, and because of that fact I am sticking with the main count again.
Even with that spike lower today the count has not changed.
The price has actually recovered most of that decline this evening.
So I will allow a few more days to see if wave ‘iii’ pink can get going.

Tomorrow;
Watch for wave ‘iii’ to break above 157.72 and continue higher.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

In Ireland we have a saying for someone who has no clue what’s happening around them.
‘you don’t know your arse from your elbow’
you are completely lost at this point!

The stock market fits this description perfectly!

The price rallied out above 39000 early today and now all that gain has been given up.
This action may have topped out the pattern in wave ‘c’ of (ii) with that new high.
And if wave (ii) is complete,
then wave ‘i’ of (iii) is now underway.

Tomorrow;
WAtch for wave (ii) to hold.
Wave ‘i’ of (iii) to break below 38400 again to signal that the market has turned into wave (iii).

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The gold price has spent this week corrective into todays high.
And now we have a small drop off the session high to suggest a possible reversal into wave ‘3’ is on the cards finally.
A break of 2276 will confirm wave ‘3’ and from there we can make some projections on where wave ‘c’ will likely finish.

The alternate count on the 4hr chart is still in play here also as a triangle in wave (iv).
In that scenario we will see further contraction over the coming week before wave (iv) completes.

Tomorrow;
watch support at 2276 as the signal level for wave ‘3’ down.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil may have topped out in wave (A) today at 79.05.
The drop off the high is a possible beginning to wave (b) and that should drift lower towards 76.00 again in this scenario.
Wave (b) will take up to a week to complete,
and I think the action in wave (b) is going to slow down considerably as the wave progresses.

Tomorrow;
Watch for wave (b) to fall in three waves towards 76.00 again over the next week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Five waves up in wave (v) and a throw over to top out the rally.
The rally broke the upper trend channel line to complete the pattern.
And now the possibility of a turn down in an impulse wave is back on the table.

Tomorrow;
Watch for wave (v) to show signs of topping by continued weakness and a drop back into 5190 again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Three waves up completed at 30.24 today and the price then dropped of again.
The correction in wave ‘ii’ has the potential to be complete here.
And this opens up the possibility of a sharp decline into wave ‘iii’ of (c) over the next week.

Tomorrow;
Watch for the wave ‘ii’ high to hold and an impulsive decline back into wave ‘iii’.
A break of 29.00 again will signal wave ‘iii’ is in play.