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

It comes about this time every year that my family and I head off on a holiday to try and mark our year together in some small way.

So here we are again and I just want to let you know the plan.

We are going back camping in France for 2 weeks. We leave this Saturday the 15th and return on the 1st of August.

I usually take the first week of the holiday off from the markets completely.

And then I return to you on the second week.

So there will not be any nightly updates next week, 17th – 21st of July.

That about covers it I think, on with the show then!

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Gold came very close to hitting that invalidation line at 1.1011 today,
but it seems this wave count will live to fight another day!

The rally into todays high actually looks like a five wave pattern.
So I have relabeled the internal pattern for wave (e) to account for this fact.
Todays top can be viewed as wave ‘c’ to complete wave (e),
and if this is correct,
then the price should turn lower for the rest of the week for sure.

Tomorrow;
Its a close call now for this wave count,
We must see an immediate drop tomorrow to signal wave ‘i’ of (i) of [c] is underway.

A break of 1.0833 will signal wave ‘i’ of (i) is underway.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is finishing the day even with Fridays high.
But the overall pattern in wave (v) blue has taken a turn away from the previous wave count.

The sharp drop and rally today point to a possible ending diagonal pattern developing in wave (v) blue.
I am now viewing this rally as the beginning of wave ‘v’ of (v).
The rally in wave ‘v’ should complete pretty soon if this pattern is correct.
So the focus here is still to the upside,
but not for much longer.

Tomorrow;
Watch for wave ‘v’ to complete a three wave rally at the upper trend line near 1.29 again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave [iv] is making some rapid progress towards the target area that I suggested.
The price has almost hit the previous wave (iii) high at 143.55 now,
and that was the upper end target for wave [iv] overall.
I am still satisfied that this decline is only wave (a) of [iv],
and that should lead to a three wave rally into wave (b) over the coming few days.
If that rally in wave (b) does not begin by midweek,
then I will have to rethink the pattern again for wave [iv] green.

Tomorrow;
Watch for wave (a) to find a low early tomorrow and then wave (b) should turn higher in three waves.
Wave (b) should hit the 143.00 to complete.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow managed a rebound today after hitting the previous fourth wave low.
That is not enough to confirm anything here,
but I do think the potential for a bearish reversal is still possible here.
And that is what I am leading with tonight.

The initial decline is wave ‘1’ of ‘i’.
And now this rebound should trace out three waves up.
That has not happened yet,
but I think we can allow another day to see if wave ‘2’ will complete a lower high after a three wave rally.
A correction in wave ‘2’ should complete below that lower trend line as shown.

Tomorrow;
What I am presenting here is speculative and needs to be proved.
So lets give this pattern some time to develop.

Watch for wave ‘2’ to hold that lower high as suggested.
If the price accelerates lower into wave ‘3’ this week,
then we will be on track for the larger reversal again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is holding below the wave ‘ii’ high today but I will admit that the decline is not ideal.
So there is a chance that this decline is only corrective,
and wave ‘ii’ is yet to complete with another lower high tomorrow.
We will know early in tomorrows session how this plays out.

As it stands,
wave ‘ii’ should be close to done here.
And wave ‘iii’ down will begin later this week.

Tomorrow;
The invalidation level for this count lies at 1967,
so that level must hold.
wave ‘iii’ down will be confirmed with a break of 1892 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil is holding below the invalidation level at 74.37 again today,
even though the high of the session came very close to hitting it.
The alternate count for wave (c) of [ii] is still valid at this point,
but I am going to stick with the main count until it is proven wrong.

Tomorrow;
I am waiting for a sharp drop into wave ‘i’ of (iii) to confirm the main count.
A break back below 69.00 again will help this count a whole lot.

The high at 74.37 must hold.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am getting cheeky tonight by committing to a definite wave count for the recent action here.
And as you know,
its the bearish option!

This count has not been proved by the action yet so it may be blown out of the water pretty quickly this week.
We will see how that plays out,
but the possibility for this reversal is definitely there.

The action today is corrective to the upside at the moment.
and this may be the beginning of wave ‘iii’ of (i) as shown.
Another step lower tomorrow will confirm this short term count.

Tomorrow;
Watch for wave ‘ii’ to hold and wave ‘iii’ down to continue lower in five waves.
A break of support at 4327 again will favor this idea.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is acting much like the rest of those markets today,
we have a lower high,
but no confirmation of the next leg down in a third wave just yet.

The price is holding close to that wave (ii) high at 23.29 again tonight.
IF that level breaks,
then I will switch to a larger count for wave (ii) blue.

At the moment the lower high is holding.
so the possibility remains open that wave (iii) down is underway.

Tomorrow;
Watch for wave ‘ii’ to hold below 23.29.
Wave ‘iii’ of (iii) should continue lower to break 22.00 to confirm the wave count.