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.

Even though the main wave count was expecting a decline off the wave ‘3’ high,
I did not expect to see wave ‘4’ drop to a point where the short term count is at risk of invalidation.
The low of wave ‘4’ is now very close to overlapping the high of wave ‘1’ this evening.
If this happens the wave count will be invalidated for wave ‘iii’.
And the alternate count will be favored.
The alternate count on the hourly chart calls for a five wave decline into wave ‘c’ of (ii) with the target at 0.9630.

Monday;
Watch for wave ‘4’ to hold above the wave ‘i’ high at 0.9899.
Wave ‘5’ of ‘iii’ simply must turn higher to save this count.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The correction in cable is still in line with the main count this evening.
Wave ‘iv’ pink has found support above the previous two significant highs at wave (i) and [c].
While the rally into wave ‘v’ of (iii) has not happened yet,
I want to see that rally come in on Monday and price to push back above 1.1650 again to complete wave (iii).

Monday;
Watch for wave ‘iv’ to hold above that band of support at 1.1495.
The minimum target for wave ‘v’ lies at 1.1646.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The retracement today is large enough to consider another count for wave ‘A’ rather than last nights pattern.

If we take this weeks lows at a completed three wave decline that will complete wave [a] at 145.11.
The price has tracked higher in three waves off that low.
And I can view this as a possible wave [b] underway already.
Once that completes a lower high soon enough,
then I can turn my focus to the downside again into wave [c] later next week.

This all depends on how log wave [b] takes to complete of course,
a simple pattern like I have shown should top out below 150.00 at the very upper end.
And then wave [c] should fall into the 142.00 area to complete over the coming weeks.

Monday;
Watch for wave (c) of [b] to complete a three wave retracement below 150.00.
And then wave (i) of [c] should begin by midweek.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I can’t offer any explanation to todays rally other than a blow off top in wave ‘c’.
I was looking at the advances and declines this evening,
and out of the 30 stocks,
there was only one decliner today.
Ironically, the one decliner was DOW chemicals!

As the pattern has climbed higher this week in wave ‘c’,
it has been pretty clear that a five wave pattern was playing out here.
Wave ‘c’ has bumped up along the upper trend channel line this week,
and even today the price has again pipped over the upper trend line causing a throw-over.

This wave ‘c’ rally has obviously extended today,
but overall wave ‘c’ just broke the 100% relation to wave ‘a’ with todays rally.
I still this this is a standard three wave correction higher.
And as we approach the 78.6% retracement of wave (i) there is even more reason to suspect wave (ii) is near its end.
I happen to think this extended rally has increased the odds of a severe snap back decline into wave ‘i’ of (iii) next week.
So that it what I will be looking for as next weeks trade comes in.

Monday;
Watch for wave ‘5’ of ‘c’ to give up early on Monday.
Wave ‘b’ at 30060 remains the key low to a reversal in wave ‘i’.
Lets see if wave ‘c’ can put in a final top on Monday to signal an end to this relief rally.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold triggered the alternate count count for wave ‘ii’ today as we see a double bottom form at the 1638 lows.
If wave ‘ii’ is an expanded flat correction,
then we will likely see wave ‘ii’ form a higher low near 1630.
Obviously this correction in wave ‘ii’ must hold above the wave (v) low at 1617 for this count to remain valid.
But at this point in time,
the pattern in wave ‘i’ and ‘ii’ is as close to perfect that we counld hope for a reversal to begin.
We will know soon enough if this bullish impulse wave holds.

Monday;
Watch for wave ‘ii’ to hold abvoe 1617.
A break of that low will invalidate this bullish pattern.

Wave ‘iii’ will be confirmed with a break 1674 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Wave ‘iv’ pink has made a very slight new low this evening,
but the three wave pattern off the wave ‘iii’ high is holding so far.
Wave ‘iv’ must hold above 85.65 at the wave ‘i’ high.
A break of that level will invalidate this count for wave (iii) blue.

Monday;
Watch for wave ‘v’ of (iii) to push higher again towards that 92.00 high.
wave ‘i’ at 85.65 must hold.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Despite the declines yesterday that were hinting at a top for wave (ii),
the market really just brushed off all caution and just went for it to make a very slight new high for wave ‘c’ this evening.
The correction in wave (ii) is still holding below the 50% retracement level of wave (i).
and wave ‘c’ has yet to reach equality with wave ‘a’ even after todays rally.
The overall pattern in wave (ii) has not changed from a 3,3,5 flat correction,
and I am still expecting a reversal pattern to begin into wave (iii) sooner rather than later.

Monday;
watch for wave ‘c’ of (ii) to top out on Monday.
Ideally we will see a sharp impulsive reversal off this wave (ii) top.
A break below the wave ‘b’ low at 3630 again it the initial target for wave ‘i’ to hit.
So,
I know I have said this before,
next week is looking promising for a third wave reversal to begin.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has dropped off this weeks highs again today and while the decline is less than perfect,
I do think it is worth looking for wave (i) to build over the coming few days.
And if we see a break of the wave ‘iv’ low at 18.77 again that will increase the odds that wave (i) is underway.
The main target for wave (i) lies at the support lows of wave [i] at 18.08 again,
so next week I will be looking for that five wave pattern lower to develop as shown.

Tomorrow;
Watch for wave (i) down to continue and form a clear five wave decline off that wave [ii] top at 19.77.
A break of 18.77 again will favor this count.