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

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Wave ‘iv’ continues today but I think the top this evening may be enough to consider this pattern complete now.
Three waves up and a tag of that 1.0820 level I was looking at over the last few days.
The decline off that high is not large enough to consider wave ‘v’ yet,
but tomorrow could be the day to turn this baby around again!

Tomorrow;
Watch for wave ‘v’ to begin with a drop back below 1.0700 again.
That would be a strong hint in favor of wave ‘v’.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable surprised me today with an equally strong rally off yesterdays lows.
The rally in wave ‘c’ of (b) has now completed a five wave pattern and that suggests we are now done here in wave (b).
I do want to see a strong turn down again over the next few sessions to confirm that idea,
but wave (b) has done enough now for sure.

Tomorrow;
Watch for wave ‘i’ of (c) to begin with a drop back below 1.2485 again.
Wave ‘i’ should retrace all of that wave ‘c’ rally from here.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has held above the wave ‘ii’ low at 138.76 today,
and now we have a reasonably impulsive move higher off that wave ‘ii’ low again.
the high of the session so far has almost reached the wave ‘i’ level at 140.46 again.
Although we have not confirmed anything yet,
the action in wave (v) is moving along in the right direction with the pattern developing well so far.

Tomorrow;
Watch for wave ‘iii’ of (V) to break above 141.00 again to confirm this wave (v) pattern.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Todays was the day to do the deed.
The price spiked above the previous top for wave [ii] green and that count was invalidated.
I have now moved to that alternate count for wave [ii].
This can best be viewed on the 4hr chart.

This is the best fit bearish count I have at the moment.
Wave [ii] is a running flat so far with wave (c) of [ii] completing below the wave (a) high.
I hope this remains,
and we get the impulse wave down to begin wave [iii] before the end of this week. But I have been forced to wait for a long time now,
and at times it seems a third wave down will never begin.
but I must remind myself that the function of a second wave is to retrace to the point of exhaustion.
The bears will give up,
and the bullish will be hyper confident.
I think we are there right now!

Tomorrow;
the current top is now viewed as wave ‘v’ of (c).
Wave ‘v’ pink has a complete internal five wave structure.
So if this this count is correct,
then the next move is that long awaited impulse down into wave (i) of [iii].

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold turned lower todays to begin wave ‘iii’ down.
I have taken another view on wave ‘ii’ tonight,
but this count change does not change the outlook here.
Wave ‘iii’ of (c) should fall in a solid five wave pattern towards 1865 over the rest of this week.
Confirmation of wave ‘iii’ will come with a break of wave ‘i’ at 1931.

Tomorrow;
Watch for that wave ‘ii’ to hold at 1971.
five waves down in wave ‘iii’ should accelerate from here.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I have labelled the alternate count for wave [ii] in more detail tonight.
The reason is because the internal pattern of wave (i) down is not ideal.
there is an internal overlap in wave (i) between wave ‘i’ and ‘iv’.
That is not a complete deal breaker for wave (i).
But,
I am allowing for that alternate wave (c) rally as a possible explanation.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The market is overjoyed at the slowing pace of inflation today,
and you just know that they are betting the fed will do a complete about face on rate hikes because of that.
I think they are miscalculating here,
the fed wants risk assets to go lower.
They want to disconnect monetary policy from the market.

and I think they will continue to raise rates until that connection is completely shattered by a market crash.
When the Fed actually does reverse the rate hikes,
I think we will be well into the next big leg down in risk assets.

That time is coming in a big way.
by the way,
the vix is trading at a 14 handle.
I wonder what long dated way outta the money vix calls cost these days!

The wedge in wave (v) of [c] is complete now.
The price has broken above the upper trend line to create a throw-over in wave ‘v’ of (v).
If the wedge pattern is correct for wave (v),
then we will see a dramatic drop back again to signal that the overall top is in for wave [c] of ‘2’.

Tomorrow;
WAtch for a sign of weakness in the action to signal wave ‘v’ pink is done.
I am looking at the wave ‘i’ high at 4214 as the initial support to break.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver turned lower again today and the move was in line with the wave ‘iii’ idea.
Wave (i) has not been confirmed yet,
and this decline must continue for the rest of the week.
But I think the mina count is coming into its own now.
And once that wave (b) low is broken again at 23.23.
Then we can concentrate on the downside targets for wave [c] overall.
One step at a time.

Tomorrow;
Watch for wave ‘iii’ to push a little lower before wave ‘iv’ corrects sideways again.
I want to avoid any overlap within the wave (i) pattern.
Wave (i) should complete below 23.23.