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

A few interesting charts from the day.

YTD, 112% of the returns in the S&P #index is owed to just 7-stocks. In other words, the rest of the #market is negative for the year so far. h/t

JUST IN: Walmart, $WMT, falls 8% as CFO says October trends have made them “pause and rethink the health of the consumer.” More specifically, Walmart said they saw a sharp falloff in sales during the last 2 weeks of October.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A pretty quiet day in EURUSD today but this action does fit with the pattern at the moment.
There is a possible fourth wave correction underway as part of the larger wave (c) rally.
Wave ‘iv’ of (c) is grinding sideways and this wave should complete above the wave ‘i’ high at 1.0755.
I am suggesting that wave ‘v’ of (c) will pop to the 62% retracement level at 1.0959 again,
and that shuold be enough to complete three waves up in wave [b].

Tomorrow;
Watch for wave ‘iv’ to complete and then the price should turn higher into wave ‘v’ of (c) again.
Wave ‘i’ must hold at 1.0755.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable did manage to complete a lower high off the top of wave [iv] today.
I am suggesting that this is wave ‘i’ and ‘ii’ of (i) now in play here.
Wave ‘iii’ down will confirm this pattern with a drop back into the next support level at 1.2185 again.
It look’s like this wave (i) decline is going to take a few more days to complete if all goes to plan.

Tomorrow;
Watch for wave [iv] to hold at 1.2505.
Wave (i) down should fall into the next support at 1.2185 at a minimum.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

While there was a drop off the lower high today,
USDJPY continues moving within that rising channel again.
And that does raise some questions here about the larger wave (a) decline idea.
The main count requires a five wave decline into wave (a) blue now.
So I want to see more downside tomorrow to break out of that channel and back towards initial support at 149.20 to confirm wave (a).

Tomorrow;
watch for the decline in wave ‘c’ of (a) to pick up momentum and trace out a five wave decline into that target at 149.20 again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The market is practically flat for 2 days now and I am suggesting that this sideways action is happening in wave ‘iv’ of (c) of [ii].
Wave ‘v’ of (c) should pop back above 35050 again to complete this wave (c) rally.
That will close out a full pattern in wave [ii] as a 5,3,5 zigzag correction.
and then I can look for a possible reversal lower again next week.
for the moment it looks like we have one last high to fulfil in wave ‘v’ of (c).

Tomorrow;
Watch for wave (c) to complete with a pop above 35050 again.
wave ‘i’ of (i) will have to wait until next week it seems.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold may have completed a three wave rally in wave (b) at todays highs.
the price has hit the target area now,
and I think its time to look for a reversal lower into wave (c) as shown.
Wave ‘i’ of (c) should fall back into the 1950 area pretty quickly now.
and if that happens tomorrow,
that will signal wave (c) is underway.

Tomorrow;
Wave (b) is close to done now and we should see the reversal begin tomorrow.
Watch for wave ‘i’ of (c) to take over and fall back into the 1950 area.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil did the unthinkable today by fall even further and with quite an impulsive look to that action also.

Wave (iii) of [iii] has now hit the 162% Fib extension target at todays lows.
and I think its time that we look for a low in wave (iii) blue.
and a turn higher into wave (iv) as shown.
Wave (iv) should trace out a three wave pattern higher and I am looking at the 80.00 area as an initial target level.
Wave (iv) should take up most of next week to complete.

Tomorrow;
Watch for wave ‘v’ of (iii) to complete soon.
A spike back above 75.00 again will signal wave ‘a’ of (iv) is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P corrected lower in a small three wave pattern over the last few sessions
and now it look is like wave ‘iv’ of (c) is complete at todays lows.
Wave ‘v’ should push back above the wave ‘iii’ high again at 4525.
And once that level is broken,
that will complete five waves up in wave (c).
The big question is how much longer to wait for the beginning of wave (i) of [iii] down.
We have a big invalidation level coming up at 4606 again,
and if that breaks,
I will be back to the drawing board in a big way.
So I would rather that does not happen to be honest!

Tomorrow;
Watch for wave ‘v’ of (c) to complete with a break of 4525.
wave (i) down must break below 4337 again and that will have to wait until next week at least.
The sooner we get a turn down here into wave (i) here the better.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Another new high in wave ‘i’ of (iii) today.
I was not expecting the price to break out to a new high in wave ‘i’,
but I do think we have gone far enough now to complete the initial step into wave (iii).
In fact,
I think the size of this rally in wave ‘i’ will lead to a larger snap back correction into wave ‘ii’.
The 62% retracement level of wave ‘i’ lies at 22.72.
So I will be watching for a three wave decline into that area next week.

Tomorrow;
wAtch for the high today to mark the top of wave ‘i’.
wave ‘ii’ should begin a three wave decline over the next few days to break back below 23.00 again.