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

I am reaching the end of my camping holiday now, we will be sailing back home on Monday night,

so things will be back to normal when I’m back in my own bed next week! I will do my best to update the charts at least on Monday before we depart on the ferry.

I apologize in advance if I fail in this endeavor.

But at least normality is on the horizon again!

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The price moved higher off the lows today in a pretty predictable rebound after a large spike move.
I am suggesting the action has created an impulse wave lower to begin wave ‘iii’ now.
And wave ‘iii’ of (i) should continue lower next week as shown.

Monday;
Watch for wave (i) to retrace most of the recent rally in wave (c) of [b].
Wave ‘iii’ should fall into the low at 1.0830 again to complete.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable had a rebound off the wave ‘i’ low today also,
this is viewed as a correction in wave ‘ii’ of (iii) at the moment.
Wave ‘ii’ must compelte below 1.2996 as shown.
And wave ‘iii’ of (iii) should move lower again early next week.

Monday;
watch for wave ‘iii’ of (iii) to move sharply lower by the end of Mondays session.
Wave (iii) down should make a low near the 1.2500 area.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

To be honest I am a little perplexed by this move over the last few sessions.
The market is holding above the invalidation line at 137.25 again.
But the action was absolutely wild today,
and its hard to make it fit a particular pattern very well.
I am going to wait for more clarification on the pattern here before nailing my colors to the mast again.

Monday;
If the price breaks 137.25 again then I will be forced to reconsider this wave count again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow made a rebound also today to create a lower high below this weeks high.
This is the actoin that I am looking for,
but there is just not enough evidence yet to confirm anything.
Thats a sentence that I written over and over I know,
but I have reviewed the larger patterns many times,
and that correction higher in three waves is clear in wave ‘2’ blue.

A second wave correction to a lower high should also create a higher degree of bullish sentiment across the economy,
I think that is quite evident here also.

It remains to be seen if wave ‘3’ down can begin this month.
I will remind you that the last major decline phase in this ‘1’ ‘2’ pattern began on August 17th 2022.
That date marked the creation of a major lower high in the pattern,
and the end of the big rebound off the initial decline phase.

The end of the summer 2023 may become the most important time for this market in history if this pattern holds up.
Wave ‘3’ down will be a knockout blow I’m afraid.
So I am willing to wait again to see that initial spike lower to begin wave [i] of ‘3’.

Monday;
Watch for a significant move lower to signal that this recent wave (v) rally is over.
33600 is the level to watch for a larger confirmation of a top here.
34575 is the first support in this market structure.

GOLD

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GOLD daily.

I am looking at another possible pattern in wave [c] tonight.
The move off the recent high can be viewed as a series of 1,2 patterns to create a step down into wave (iii).
The lower high today is viewed as wave ‘ii’ of (iii).
And wave ‘iii’ of (iii) should do most of the damage next week with a decline back below 1900 again.

Wave (iii) of [c] should fall into about 1850.
And then the larger wave [c] will close the trend channel about 1850.

Monday;
Watch for wave ‘iii’ to drop back below 1935 to confirm the pattern.

CRUDE OIL.

CRUDE OIL 1hr.

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CRUDE OIL daily.

The current high in wave [ii] lies at 80.54.
that is not a hard invalidation point or anything.
but that high is very close to the 78.6% retracement level of wave [i].
So this price point is a very good area for a reversal to build into wave (i) of [iii] again.

Monday;
Watch for an impulsive move lower to break support at 74.68 to begin the next leg down.
Wave ‘i’ of (i) may fall into 77.00 to turn the pattern initially.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

A small lower high has formed below 4607 today and at least we can say that the upside momentum has broke on the short term chart now.
It remains to be seen if wave (i) can develop correctly from here.
Wave (i) should fall into the 4377 area at wave (iv) at least.
If that happens,
then I can begin looking seriously at that reversal pattern into wave [i] of ‘3’ again.

All of what I said in the Dow commentary counts for the wider market also.
So we are at that decision point now where the next leg down can be decided.

Monday;
Watch for wave ‘iii’ of (i) to fall into 4448 over the next few days as a good signal that the short term chart is correct.

SILVER.

SILVER 1hr

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SILVER daily.

I am showing a series of impulse waves lower off the top here.
And todays action is counted as wave ‘2’ of ‘iii’.
Wave ‘iii’ needs to make a decline into the 23.30 in order to confirm this pattern for wave (i) next week.
At the moment we have a three wave pattern in place off the top.
I want to see an acceleration lower into wave ‘iii’ early next week.
And the wave (i) should fall into the 22.60 area to complete this initial impulse pattern in wave [c] green.

Monday;
Watch for wave ‘iii’ of (i) to make serious progress in the larger pattern.
We should know by midweek if this pattern holds or not.