Good evening to one and all.

The LORD’s blessings to you all tonight.

This weeks website glitch was a real bummer for me!
I really tried to get the website up to snuff this year
and to cut out all the failures.
But then a number of you were hit with login refusals and just annoying shenanigans
caused by a software update that I didn’t even do!
Time to blame my web host again!

The problem I had this week
was that I could not get the message out if you were locked out from the site.
And that just makes an annoyance into a headache.

So I have decided to bite the bullet,
I opened a twitter account today in order to have a method of communication with you fine folk if something does ever happen again.
So at least I can put a message up there and you guys can see whats happening.
Here is the link to my twitter account.
https://twitter.com/bullwavesreal

You can join if you wish.
or at least you know it is there if you need to see whats happening.

Ok on with the show.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is holding below the wave ‘b’ high at 0.9876 again today and I am a little more confident in the short term pattern because of that.
I have shown a possible 1,2 pattern beginning wave ‘c’ down this evening.
And if this count proves correct tomorrow,
then we will see a sharp drop into wave ‘3’ continue the pattern.
The minimum target remains the same here,
wave ‘c’ should break 0.9631 and then complete three waves down in wave (ii) blue.
And I know the margin is tight for wave (ii) to complete,
but once that target is hit,
we must see a rally begin in wave (iii).

Tomorrow;
Watch for wave ‘c’ of (ii) to complete five waves diwn and hit the target.
It looks like wave (iii) will have to wait until next week in this scenario.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable started the day quite well with a nice bounce off the wave (ii) low.
And now we see an equal and opposite reaction as they say off that session high.
If the low at 1.1169 is wave (ii) complete,
then we should see a rally in wave (iii) continue higher tomorrow.
And a break above the 1.1495 high will confirm that pattern.

I cannot rule out the alternate count this evening because of that decline.
If we see a break of 1.1169 again that will favor the alternate count again.

Tomorrow;
Watch for wave (ii) to hold at 1.1169.
A break of that level will favor the alternate count.
Wave (iii) must turn higher tomorrow to stick with this wave count.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I see continuous five wave patterns nested in the progress of this pair over the last few weeks.
Even tonight I see a minor five wave pattern within wave ‘v’ of (iii).
If nothing else,
it does serve to back up the hypothesis that underpins the pattern that operates in markets.
5,3 all over the place!

Tomorrow;
If wave (iii) is now coming to an end here,
then we should see a three wave decline begin tomorrow into wave (iv).
I am looking at this weeks low as an initial ,target for that wave (iv) to complete.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Believe it or not,
the market is basically flat since the wave ‘a’ top on the 5th of this month.
And if you want to be critical,
the Market has done nothing this week also.
Flat to nowhere is the story this week.

In this environment it is hard to give any big insights on the future of the patterns in play here.

I have made one alteration this evening,
and that is an idea that popped into my head earlier today
there may be a wedge forming in this latest rally.
That would make the rally off Last weeks low near 28600 an ending diagonal pattern.
And that would also complete the larger wave ‘ii’ as a flat correction.
We will see tomorrow if this idea holds true.

Tomorrow;
If wave ‘c’ of ‘ii’ is compelte at the highs today.
Then wave ‘1’ of ‘iii’ should begin tomorrow and follow through with the decline that is now underway.
Lets see if we can build a larger impulse wave lower into wave ‘1’ starting tomorrow.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold did bounce this morning and for a moment I was hopeful that the previous bullish pattern was making a comeback.
Not to be Im afraid.
the price has again given up the early gains and is now moving lower in a sharper decline.

I have labelled the internal pattern of wave ‘v’ this evening.
And we can see the possibility of a five wave pattern emerging from the mist as it were!
This new pattern will not be confirmed until we see a break to a new low for the year.
But this pattern also suggests that we are still very close to the end of the overall pattern.
Wave ‘v’ of (v) of [v] of ‘C’ is only one last wave away if this new interpretation is correct.

Tomorrow;
Watch for a five wave internal pattern of wave ‘v’ pink to break to a new low below 1614.70.
the lower trend line suggests a low for the pattern in the area of 1590.
And both trend channels intersect in that area also.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Take a look at the 4hr chart first tonight;
I am considering another interpretation of the ‘1’ ‘2’ pattern in blue this evening.
I am not holding this pattern as the gospel truth,
but I do think it is worth considering the possibility for a larger wave ‘2’ correction given the action this week.

We should know if this count is correct pretty soon.
If we see a tur lower again to break wave [b] again then I will go back to the previous wave pattern I was working with.

The hourly chart shows the internal pattern for wave [ii] clearer.
Three up in wave [a],
three down in wave [b].
And now a five wave rally underway into wave [c] to complete wave ‘2’ near the 97 handle again.

Tomorrow;
Watch for wave (ii) of [c] to complete above this weeks low.
Wave (ii) should probably hold above 83.00 and then turn higher into wave (iii) later in the day and into Monday.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is not making a whole lot of effort to turn lower into a third wave down this week,
but neither have we seen any rally break out to chance the game here.
The three wave pattern higher in wave (ii) is still valid until proven wrong.
And if the market does give up and accelerates lower tomorrow,
that will favor the bearish outlook for sure.

Tomorrow;
It is a waiting game here at the moment to see which way this action resolves itself.
I am watching that wave ‘b’ low at 3580 as an initial signal level for the turn into wave ‘i’ of (iii).
Lets see if the high at wave (ii) can hold again tomorrow and if the pattern begins to unfold to the downside.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver completed a picture perfect flat correction today.
The top for wave (c) came in after a quick break of the wave (a) high at 18.93.
And now we have a reversal under way this evening which could be the beginning of wave (i) of [iii].
A break of wave [i] at 18.08 again will confirm this pattern.

Tomorrow;
Watch for wave (ii) to hold at todays highs.
And wave (i) should trace out five waves down to the 18.00 area when complete.
If this pattern is correct here,
then we will see another big decline take hold in silver over the coming week as wave [iii] takes over.