Good evening to one and all.

The LORD’s blessings to you all tonight.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Well it seems we have hit a possible turning point in the USD today.
There is no confirmation of the bullish count yet today,
but I think enough has happened today to focus again on the bullish count again.
So tonight I am labelling the recent low at 0.9630 as wave (ii).
And the rise off that low is the begining of wave (iii) up.

The action over the last few days is viewed as a series of impulse waves higher.
And now wave ‘iii’ of (iii) should be ready to get going over the coming days.

If the price drops again on Monday to break the 0.9705 again that will favor last nights count again.

Monday;
Watch for wave ‘ii’ to hold at 0.9705.
Wave ‘iii’ up must continue higher in five waves as shown and break the 1.00 high again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is holding above the session low thigh evening and while wave (ii) did make a new low today,
the rally off that low is large enough to suggest wave ‘i’ of (iii) is now underway again.
If wave (iii) is now underway,
then we should see a good rally next week towards the 1.17.00 area to complete.
And we should see wave [c] of ‘A’ complete by the end of next week.

Monday;
Watch for wave (ii) to hold at 1.1066.
Wave (iii) will be confirmed with a break of 1.1495.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Now that is the type of a reversal I was thinking of to begin the next leg down into wave (4).
I suspect the BoJ intervened tonight to cause that size of a drop,
we will have to see if the market accepts this intervention
and if it is finally ready for this rally to turn lower into a correction in wave (4).

Monday;
I have shown this decline as wave [i] of ‘A’ of (4).
this suggests a five wave decline in wave ‘A’ over the coming weeks.
Watch for wave [ii] of ‘A’ to form a three wave correction to a lower high as shown.
And wave [iii] of ‘A’ to fall again by midweek.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Wave ‘1’ got thwarted today and the market rallied again off that corrective decline over the last few days.
I can still count an ending diagonal wave ‘c’ of of ‘ii’ into todays high.
The rally this week is a five wave pattern,
and the price is close to hitting the 62% retracement level of wave ‘i’ now.
So far the rally has failed to break above this Fibonacci resistance band between 50% and the 62% level.
I want to see this correction complete in this area.

What needs to happen here is simple.
I want to see wave ‘1’ down form a five wave decline from here.
Wave ‘1’ down should retrace the whole rally that occurred in wave ‘c’.

Monday;
This rally must top out early next week and form an impulsive decline to begin wave ‘iii’.
I know I have been warning of the acceleration phase into a third wave.
But I must admit that this pattern has the potential to begin the cascading decline phase that I fear.
So I think it is worth being very vigilant next week also.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Although gold did not hit a new low today to complete wave (v) blue,
I am interested in the possibility that we have a failed fifth wave to complete this pattern in wave [v] of ‘C’.
The price reacted higher today off the wave (iii) low at 1615.
The rally is not larger enough to confirm anything yet,
but,
the action is impulsive enough to consider the possibility of a bullish reversal at least.
In general the larger pattern on the 4hr chart is showning the signs of a momentum reversal.
Momentum has bottomed above the previous lows and again todays spike rally may be enough to turn the tide again.

Monday;
The pattern needs further confirmation.
Five waves up to break the previous wave (iv) high will do just that.

Wave ‘ii’ must now form a higher low above todays lows to give this bullish pattern a fighting chance.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is holding a higher low also today and wave (ii) is showing a three waves pattern.
This pattern needs confirmation also,
a rally into wave (iii) of [c] will do that.
I expect wave (iii) will break above the previous high at wave [a] at 92.68 to confirm this pattern.

Monday;
Watch for the low of wave [b] to hold at 81.32.
five waves up is on the cards here for wave [c] to complete a larger correction in wave ‘2’.
A break of wave (b) again at 88.77 will favor this count.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has turned higher this evening and has done enough to trigger the alternate wave (ii) count.
Three waves up this week has complete wave ‘a’,
The action over the last few sessions did not manage much more than a sideways correction.
and now the rally today has begun wave ‘c’ of (ii).
It seems the most likely target for wave is between the previous wave ‘iv’ top at 3800,
and the 50% retracement level at 3906.
When that completes as I’m sure it will,
then we will be ready for wave (iii) down to begin the long decline phase I have long spoken of.

Monday;
Whats neede i the short term then?
It looks like we will see some more upside in wave ‘c’ of (ii) early next week.
But I am not confident that we will see a push to the upper end of the target range.
If the price hits the previous fourth wave high at 3806 thenI will begin to look for a top to form.

Wave ‘i’ of (iii) wil have to wait until later on in the week.
But keep an eye on the wave ‘b’ oow at 3630.
A break of that level again will be a good signal wave (ii) is complete.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The rally in silver ruined what seemed like a perfect corrective pattern in wave [ii].
Last ights pattern has been invalidated,
but I have not abandoned the idea of a wave [ii] correction though.
Wave (b) of [ii] can now be viewed as a running flat correction,
and now a sharp rally today complete wave (c) of [ii].
The price reached the 38% retracement level of wave [i] at the highs.
And I am looking for wave [ii] to find a top again in this area in Mondays session.

Monday;
Watch for wave (c) to top and reverse between 19.30 and 19.66 that marks the 38% and 50% retracement levels.
Any sharp reversal action from this point will be viewed as the beginning of wave [iii] down.