Good evening folks, the Lord’s Blessings to you all.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I think tonight’s count is a good explanation of the recent declines.
I have updated the hourly chart to show wave (iv) already underway here.
This wave count suggests wave (iv) is tracing out an expanded flat correction.
And now this new low today can be viewed as wave ‘b’ of (iv).
You can see the clear three wave decline off the wave ‘a’ high.
And now that wave ‘b’ is coming to a close,
we should see a turn higher into wave ‘c’ of (iv) over the coming few days.

Tomorrow;
Watch for wave ‘b’ to close out near 1.0560 and then turn higher into wave ‘c’ by tomorrow evening.
A break of 1.0672 again will signal wave ‘c’ is underway.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable just can’t catch a break these days!
I have been waiting for a turn higher into wave (a) for about a week now,
and todays action has only grinded lower along the trend channel line again.
I can still suggest that this decline is wave ‘v’ of (v) of [i] here.
The action in general shows a slowing downside momentum,
and that will lead to to a swing higher pretty soon I think.
If wave [ii] is beginning this week,
then we could easily see wave (a) of [ii] back above 1.2600 again by Friday.

Tomorrow;
First things first,
we must see a turn higher to create a higher low over the next few days.
Watch for wave ‘v’ of (v) to find that final low tomorrow.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

It’s hard not to laugh sometimes with the rally in the USD that just keeps on going.
I remember looking for a low in wave [iv] green a few months back when the world was calling for the death of the USD.
What at turn around eh!

Anyway,
now we are sitting at the exact opposite situation,
a high that should top out soon,
but without a signal that the turn is underway just yet.
The rally into todays high is part of a larger move off the wave ‘a’ low.
The rally is not a five wave structure overall.
There is just too much overlap to be anything other than a three wave move.
So I will stick with the main count for another day and see if the price can reverse into wave ‘c’ starting soon.

Tomorrow;
Watch for wave ‘b’ to top and reverse into wave ‘c’ by tomorrow evening.
A break of 147.80 again will signal wave ‘c’ has begun.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

We have a small three wave pattern higher off the session low in place now.
I can now suggest that wave ‘3’ of ‘iii’ is complete at the lows,
and wave ‘4’ of ‘iii’ is now underway.

The correction in wave ‘4’ should complete below 34300 at the very upper end.
Obviously I would like to see a much lower close on wave ‘4’ and a sharp turn down into wave ‘5’ black by midweek.
That type of action would fit with the wave ‘iii’ pink idea much better to be honest.

I keep mentioning the idea that the lower wave ‘iii’ goes the better for the larger bearish pattern.
In that scenario,
wave ‘5’ of ‘iii’ is expected to hit the 33500 area.
That is the ideal target area for wave ‘iii’,
but I can only take this pattern day by day to see where it leads us.

The alternate count for wave ‘b’ of (ii) is still a viable option at this point.
Any larger rally from here will favor that count.

Tomorrow;
Watch for wave ‘iii’ pink to complete fie waves down near 33500 later this week.
Wave ‘4’ should hold below 34300.
And wave ‘5’ may even start by tomorrow evening.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is holding at the 1915 level again this evening after a small step lower off that possible wave ‘2’ high.
This action has not confirmed anything in the larger count yet.
I want to see a break of 1900 again to signal wave ‘3’ of ‘iii’ is underway.
So that requires another large move lower into wave ‘iii’ pink this week.

Tomorrow;
Watch for wave ‘2’ to hold at 1928.
Wave ‘3’ of ‘iii’ should accelerate lower over the coming days.
The wave ‘ii’ high at 1947 must hold.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

We have a pretty flat start to the week here in crude oil and I think this action suggests we are still building that lower high in wave ‘ii’ here.
The action over the last few sessions has traced out a three wave decline again.
I am looking for another pop to complete three waves up in wave ‘ii’ tomorrow.
The price must hold below that recent top at 92.34 to complete wave ‘ii’.
But once we get that done,
then wave ‘iii’ pink will be set to turn this market lower again by the end of this week.

Tomorrow;
Watch for wave ‘ii’ to complete three waves up to a lower high below 92.34.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The market has bounced off the lows today,
and I am looking at this move as a correction higher within wave ‘iii’ pink.

Wave ‘4’ of ‘iii’ has already reached back into the resistance area of wave (i) this evening that may not be enough to stop this bounce.
But I would like to see wave ‘4’ top out by the previous shoulder top at 4356,
and then turn lower again into wave ‘5’ of ‘iii’ by Wednesday possibly.

Wave ‘5’ of ‘iii’ has a target area back down near the lower trend channel line at 4250 again.
As I mentioned in the Dow,
the lower we get here in wave ‘iii’ the better the probability that wave (iii) of [i] is the correct count here.

Tomorrow;
Watch for wave ‘iii’ to continue lower and complete five waves down near 4250 again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver completed three waves up in wave ‘ii’ last Friday,
and now we have a spike lower off that high today.
The action is beginning to favor the idea that wave ‘iii’ of (iii) is underway here.
And I am looking for this wave ‘1’ of ‘iii’ to fall back into the 22.50 area to complete.
A break below the wave ‘i’ low at 22.29 again will signal wave ‘iii’ is underway.

Tomorrow;
Watch for wave ‘1’ of ‘iii’ to fall into support at 22.29 to kick off wave ‘iii’ pink.
WAve ‘ii’ must hold at 23.77.