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

Welcome back to the nightly updates after a week off the air.
So here we are on the 24th of July and we start a new week in the markets.
I don’t expect much to be honest as much of the world has switched off for the next few weeks.,
But I will be here every night anyway to chart the way forward.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD made a turn back south again today off that wave [b] top after completing an (a) = (c) rally into the high at 1.1274.
And we may even have five waves down now complete off the top at todays lows.
The decline is not large enough yet to confirm that wave [c] is underway,
but once we see a break of 1.0832 again that will be the confirmation of the reversal into wave [c].

Tomorrow;
Watch for wave (i) down to continue lower as shown.
A five wave decline to break 1.0832 will confirm this pattern.
1.1274 must hold.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am tracking a five wave decline off the top in cable also this week.
the lows of the session today may have closed out wave (i) down,
we will see soon enough on that front.
Wave (ii) will then correct higher in three waves to form a bearish lower high and then wave (ii) of [i] can accelerate lower later this week.

Tomorrow;
the high at wave (2) must hold at 1.3141.
Wave (i) should complete soon and then a correction higher in wave (ii) will target the 1.30 area in three waves.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY ahs recovered well off last weeks lows and it seems wave [iv] came to a stop at 137.25.
This low did not violate the wave [i] high at 135.15,
so the bullish count remains valid for now.

Wave (i) of [v] has made good progress so far, and the price is holding above the previous wave (iii) high at 140.91 again.
I am looking for wave (i) to complete in the 143.00 area as shown.
That will retrace much of the previous decline,
And I think it will setup the market for a larger rally into wave [v] in the next few weeks.

Tomorrow;
Watch for wave (i) to complete five waves up towards the 143.00 level by midweek.
Wave ‘iii’ and ‘iv’ will create a shelf of support in the current price area and then another spike higher into wave ‘v’ later in the week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

This wave ‘2’ rally has now reached the 78.6% retracement level of wave ‘1’ at todays highs.
This level was unthinkable to me a few months ago,
but here we are against all the odds!

Wave [c] of ‘2’ will prove to be the biggest hoax rally in history when this market does reverse into wave ‘3’.
Just like I did not hold the idea that wave ‘2’ could get to this point,
the rest of the world is now convinced that a new bull market is now underway.
The exact wrong time to buy that idea I’m afraid.

Tomorrow;
I will continue to char the final stage rally in wave (v) of [c] of ‘2’ this week.
And now that we have a solid throw-over in place at wave ‘v’ of (v),
I can see this week is an open door to that reversal also.

A possible five waves up in wave ‘v’ pink is in place.
So lets see how long this throw over top can hold.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has turned off the top of a possible wave [b] rally also today.
Wave [b] reached the 62% retracement level at 1967,
and now this small decline off that level is opening up the turn into wave [c] over the coming few weeks.

Tomorrow;
Wave (i) of [c] should fall into the wave (b) lows at 1902 if all goes to plan.
Watch for wave ‘iii’ of (i) to break the 1935 support at wave (a).

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil has now reached up to the upper trend channel line again this evening as wave (c) of [ii] switches to a five wave pattern again.
The price is now close to hitting a 78.6% retracement level of wave [i] at 79.83.
and wave ‘v’ of (c) is close to completing an internal five wave pattern also.
The larger picture of this pattern is closing out,
so I suspect the smaller degree wave counts will fall into place over the next few sessions.

Tomorrow;
Watch for wave ‘iv’ and ‘v’ to complete by midweek.
Wave ‘v’ pink will reach that fib target at 79.83.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Three waves up in wave ‘2’ is done also in the S&P,
so this wave count complements the pattern in the Dow also now.
The big lower high top in wave ‘2’ beckons here.
But we have been forced to wait for it for an age at this point.

I have failed to call a turn in the stock market for the last few months now.
And this fact is not lost on me for sure.

That does not invalidate the large degree wave count at all.
The small internal pattern had some interesting turn downs that gave the appearance of a reversal,
but those opportunities came and went.
So here we are with wave (v) of [c] back up within a whisper of the upper trend channel line,
and wave ‘2’ has broken above the 78.6% retracement of wave ‘1’ at 4530 just last week.

this market is about as close to a major reversal as it has ever been here,
but the first turn lower has so far evaded us.

Tomorrow;
The internal pattern of wave (v) can allow for a push higher in wave ‘v’ of (v)
So I will wait for that pop to complete before looking down again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has turned back below the wave (a) high now after tracing out an extended rally in wave ‘c’ of (b) last week.
We are going to need a more substantial decline to prove wave (i) of [c] is underway here.
A break of 23.00 again will do just that after a five wave decline.

Tomorrow;
Watch for wave (i) down to continue lower in a five wave pattern as shown.
Watch for wave [b] to hold at 25.26.