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 ‘2’ never made it to the initial target level at 1.0950.
Instead the price completed a lower high this morning and then turned lower again.
I am suggesting that wave ‘2’ completed a running flat correction today.
The price has now reached a new low for this decline phase tonight.
While the support at 1.0832 has not been hit just yet,
I think we can say that wave ‘3’ is now underway.

Tomorrow;
WAtch for wave ‘3’ of ‘iii’ to break support at 1.0832 and then continue lower in a five wave pattern towards 1.0750.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am actually going to abandon the triangle pattern for wave (iv) today.
The price action broke last nights wave count again today ,
and now I am switching to a possible running flat correction in wave (iv) at todays high.
This pattern does suggest that wave (v) is now underway,
and then price should continue lower again tomorrow towards that target level at about 1.2450.

Tomorrow;
Watch for wave (iv) to hold at 1.2786.
wave (v) down will be confirmed with a break of 1.2620 again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has dropped off the highs created overnight now.
and I am looking at the possibility that wave ‘3’ and ‘4’ of ‘iii’ are now in play here.
I know the rally in wave ‘3’ of ‘iii’ is not very impressive,
but if this count is correct,
then we will see another turn higher into wave ‘5’ of ‘iii’.
And the price will have a chance to put in an impressive rally again at that point.

Tomorrow;
Watch for wave ‘4’ to complete a small three wave correction into 145.00 again.
The price should then turn higher again in wave ‘5’.
A break of 143.90 again will invalidate this wave count for wave ‘iii’ pink.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow has taken another step closer to completing an impulse wave off the top now.
The price action has definitely managed to accelerate lower this week,
and that is the type of confirming price action that I was looking for in wave ‘iii’ of (i).
Todays lows also managed to break into that band of support.
The price ia actually closing within that area as I write.
So,
all things considered,
this week we seem to have rounded the top of the pattern now,
and once we have a completed five waves lower in wave (i) blue in place,
then I will be looking for the bearish lower high in wave (ii) later this month.
That will set things up for a more sustained decline in wave (iii) blue.

Remember that the stock market turned lower in a major way starting on August 16th last year.
And here we are one year on with the very same possibility on the cards.
History doesn’t repeat,
but it often rhymes they say!

Tomorrow;
Watch for a low to be reached in wave ‘iii’ tomorrow below the support band at 34477.
I would like to see wave ‘iv’ to form below that level also.
We will see about that next week.
The initial corrective moves in wave ‘iv’ should begin tomorrow though.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Well gold gave me what I was asking for today,
that is a break of the lower support at 1892 again at wave [a].
The price is well and truly into wave [c] now,
and I am still looking for a low in wave (i) of [c] to form here.
If that corrective rally into wave (ii) does not begin this week as suggested,
then I will be forced to rethink my base case scenario for wave [c] I think.
I will give the pattern another day to see if wave (ii) can begin.

Tomorrow;
A break above 1920 again will signal wave (ii) is in play.
Watch for wave ‘a’ of (ii) to target that area.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude did not break the wave ‘a’ support at 78.50 today but instead a nice spike higher occurred to begin wave (v) up.
I am looking at a possible running flat correction for wave (iv) now,
and wave (v) should trace out five waves up from here as usual.
I am looking for wave ‘i’ of (v) to break above the wave (iii) level again.
If that happens,
that should be enough to confirm wave (v) is underway.

Tomorrow;
Watch for wave ‘i’ of (v) to push higher to break 82.28 again at the wave (iii) high.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Wave ‘3’ of ‘iii’ broke the next lower level of support today at 4377.
That completes five waves down in wave ‘3’ and we should see a corrective rise into wave ‘4’ starting tomorrow.
wave ‘iii’ pink should complete its five wave pattern with a break of the wave (iv) low at 4327 again.
If this count is correct here,
then we should complete five waves down in wave (i) blue by the end of next week at a lower target that I originally thought.
I think wave (i) can now complete with a break below 4300,
possibly near 4250 again.
If all goes to plan that is.

Tomorrow;
Watch for wave ‘iii’ down to complete a five wave pattern as shown near 4327 at the wave (iv) low.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The price has again spiked lower this evening in silver,
and that seems to suggest that wave ‘iv’ is complete at todays high.
the internal pattern of wave ‘iv’ is a complex correction now.
But wave ‘v’ of (i) should trace out a simple five waves down to break 22.09 again.

Tomorrow;
Watch for wave ‘v’ of (i) to continue lower and break that support at 22.09 again.
We can then look higher in a correction next week in wave (ii).