Good evening folks, welcome to a new week, the Lord’s Blessings to you all.

Here are a few thoughts to mull over from some heavy hitters if you have the time.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A sharp move lower today has confirmed the corrective nature of the recent action in wave ‘ii’.
The high this morning hit 1.0916,
and then the price turned sharply lower to begin wave ‘iii’ down.

If this count for wave ‘iii’ down is correct here,
then we should see a five wave pattern lower into wave ‘iii’ for the rest of this week.
And I suspect we will see a break of the recent support at 1.0723 also.

Tomorrow;
Watch for wave ‘ii’ to hold at 1.0916.
Wave ‘3’ down should continue in five waves as shown.

GBPUSD

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GBPUSD 4hr.

GBPUSD daily.

A similar sharp drop today in cable has brought the main count back into focus again.
The top today is labelled wave ‘ii’ of (iii) also.
and that sharp decline begins wave ‘iii’ down.
Wave ‘iii’ has not been confirmed yet,
a break of the wave ‘i’ low at 1.2596 will do just that.

Tomorrow;
Watch for wave ‘ii’ to hold at 1.2746.
Wave ‘iii’ down will be confirmed with a break of 1.2596.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY completed the correction this morning with a low at 146.96.
Wave ‘4’ of ‘iii’ is now complete at the session low.
The price has bounced again to begin wave ‘5’,
and the target for wave ‘5’ of ‘iii’ is now in sight at 149.12.
That level marks where wave (iii) reaches equality with wave (i).

Tomorrow;
Watch for wave ‘iii’ of (iii) to complete in the area of 149.12.
Wave ‘iv’ should then reverse lower again and we will probably correct for the rest of this week.

DOW JONES.

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DOW daily.

A correction lower today in wave (iv) has completed three waves down so far.
The session low hit the previous wave [iii] level and the market has found some support there.
It remains to be seen if wave (v) can now begin off that level and carry the market to a new high.

This pattern is close to a complete five wave rally in wave [v] green now.
So it will be interesting to see this pattern complete by the end of the week.

Tomorrow;
WAve (v) should turn higher again soon to complete the pattern later this week.
Watch for the wave (i) high to hold at 37700.
A break of that level will complicate things a little.

GOLD

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GOLD daily.

The Gold market is just flat this week and there is very little to go on in the action.
It is also quite likely now that wave ‘2’ of ‘iii’ is still in play here as the price fails to make any move lower.
I will allow for another spike to complete wave ‘2’ below 2062 this week.
And then we can look towards wave ‘3’ of ‘iii’ down next week.

Tomorrow;
Watch for a larger three wave pattern to complete in wave ‘2’ over the next few sessions.

CRUDE OIL.

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CRUDE OIL daily.

Crude is flat today also but I think the action is in line with the wave ‘iii’ idea.
The price is holding above the wave ‘ii’ low at 73.40,
and wave ‘iii’ of (c) is expected to turn higher again of all goes to plan here.

Tomorrow;
If wave ‘ii’ holds at 73.40, then we should continue to see a five wave rally in wave ‘iii’ for the rest of the week.
This count will be invalidated if the wave (b) low breaks at 72.50.

S&P 500.

S&P 500 1hr

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S&P 500 daily.

A day of little or no action here in in the S&P with the market holding a corrective pattern.
I don’t think that wave (iii) is complete here yet though.
I have labelled todays sideways move as wave ‘iv’ of (iii),
with wave ‘v’ yet to come.
If this pattern is correct,
then wave (iii) will complete near 4900,
and the larger wave [v] will complete with a break above 5000.
I can already hear the deafening screams of joy when that happens.

That will be enough to complete wave ‘C’ of (B) and then we can look forward to wave (C) down.

Tomorrow;
Watch for wave (iii) of [v] to continue higher for the rest of the ween and complete five waves up near 4900.

SILVER.

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SILVER daily.

The price has moved higher again today and I am now looking at a larger pattern in wave ‘2’ of ‘iii’.
the price should correct back to the 22.83 area again in this scenario,
and then wave ‘3’ of ‘iii’ will be free to turn lower again later this week.
The alternate count for wave ‘ii’ pink seems unlikely at this stage.

Tomorrow;
Watch for a clear correction to complete near the recent top at 22.83 again.