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

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I am watching the pattern of todays decline,
and the only thing I can think now is this is a three wave structure to form a higher low.
This fact requires a rethink of the previous pattern.
I have re-labelled wave ‘i’ to show 1.0913 as the final low.
And now wave ‘ii’ is underway off that low.
Wave ‘a’ traced out three waves up,
wave ‘b’ fell in three waves,
and now I suspect wave ‘c’ will rally to break 1.1042 again to complete a flat correction in wave ‘ii’.

tomorrow;
Watch for wave ‘c’ to complete a three wave rally with a break of 1.1050 as shown.
After that happens,
then I will look for wave ‘iii’ of (i) to turn lower again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am considering the idea that wave (iv) of [i] is still underway today after todays action.
the action this week so far has traced out three waves down into todays lows.
That completes wave ‘b’ of (iv).
And wave ‘c’ of (iv) will rally again towards 1.2800 to complete this pattern.

It is also possible that wave (iv) is moving sideways in a contracting triangle.
We should be able to identify that pattern by tomorrow evening if the price range continues to contract around 1.2730 or so.
I will just have to wait and see on that one.

Tomorrow;
Watch for wave ‘c’ of (iv) to complete three waves up near 1.2800 to complete this pattern.
I want to see wave (iv) complete below 1.2836 at the wave (i) low.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is moving higher today
and the price is now on the verge of breaking the wave wave ‘i’ high at 143.87 again.
If that level breaks,
that will be a definite vote in favor of this new wave count,
and wave ‘iii’ of (iii) should then continue higher in a five wave pattern itself.
At the moment,
the most important level for this count lies at wave ‘ii’ at 141.52.
A break of that level will suggest wave ‘ii’ is developing a larger pattern.

Tomorrow;
Watch for that wave ‘ii’ low to hold at 141.52.
Wave ‘iii’ of (iii) must now continue higher in five waves.
Wave ‘1’ and ‘2’ should form a higher low above 141.52 before an acceleration higher in wave ‘3’ of ‘iii’.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I the market is acting in a very schizophrenic manner these days.
The market initially took a steep plunge to a new low for the week,
and now we have a solid spike higher off that low to retrace much of the decline.
I am going to leave the main wave count intact here.
Todays action is not ideal,
but it is not against the wave count either,
so,
I will reserve judgment on todays action as I really can’t fit that action in a nice neat pattern yet!
Maybe things will be more clear tomorrow with another follow through to the downside towards that wave ‘i’ goal.

Tomorrow;
Watch for wave ‘3’ of ‘i’ to make progress lower again.
The highs at wave ‘2’ should hold at 35500.
I am still waiting for this pattern to fall into initial support at 34575 to give the wave count a boost!

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The action in gold today is verging on the corrective side also today.
The price has declined again,
but that decline is quite choppy to be honest.
So I am suggesting this is wave ‘b’ of wave ‘ii’ here.
And wave ‘c’ of ‘ii’ should turn higher tomorrow to complete near 1950 again.

It seems the series of declines in gold have taken a pause this week,
so I want to see a return to more vigorous downside action later this week in order to in order to confirm wave ‘iii’ of (iii).

Tomorrow;
Watch for this three wave pattern in wave ‘ii’ to complete near the 1950 level again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I have switched to the alternate count this evening for wave (4) green.
This count can be best viewed on the 4hr chart.

The recent rally has not broken a new high yet,
but it is only a matter of hours now before the price breaks above 83.38 again.

This new count views the recent rally as wave ‘C’ of (4) now.
And the pattern in wave ‘C’ is quite well developed here also.

The current top is closing in on the wave [iii] of ‘C’ high.
And then we should get another corrective decline into wave [iv] before the end of this month.

The short term chart suggests the rally today is in wave (v) of [iii].
Wave ‘i’ and ‘ii’ id (v) are complete,
and wave ‘iii’ of (v) will carry the price out to a new high near 86.00 again pretty soon.

Tomorrow;
Watch for that wave ‘ii’ low to hold at 79.70.
Wave ‘iii’ of (v) will be confirmed with a break above 83.38 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The price action in the S&P is facing the same conundrum this evening!
The market is not moving against the main wave count exactly,
but it is not confirming the pattern either.
So I will remain vigilant here regarding the short term action.

I would like to see a sharp decline in wave ‘iii’ of (i) this week to clear up the main pattern.
But if we see a break above the wave ‘ii’ high again at 4540,
that will cause some concern for this bearish count.

Tomorrow;
I know I am not saying much tonight,
but I really want to get something positive from the market before diving in again on the bearish side.
A sharp move lower to break 4440 again will do just that I think.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is now testing the lows of wave ‘b’ at 22.51 this evening after another step lower in the pattern.
I do think the price will find support in this area now.
and wave ‘iv’ of (i) will probably move higher off this level again before the end of the week.

If the price makes a new low below 22.00 again that will suggest that wave (i) is further along in the pattern that I am suggesting here.

Tomorrow;
Watch for wave ‘ii’ to find a low soon.
the wave ‘b’ low at 22.51 should offer support.
Wave ‘iv’ should then turn higher in three waves towards 23.80 at the recent wave ‘4’ high again.