Good evening to one and all.

The LORD’s blessings to you all tonight.

Its been a slow day in the markets all round but I suppose that was to be expected given the holiday in the US.

So after a short weeks trading this week,
I will give a round up of where we stand in the patterns.
Next week will be back to reality,
and I am looking for reality to bite back across the financial markets.

So, here we go.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD held the three wave decline pattern in wave ‘4’ of ‘v’ today.
The price has bounced off the lows also,
and it seems now that early next week, wave ‘5’ of ‘v’ should push higher to break above 1.0484 and complete wave (iii) blue.
Wave (iii) is expected to give way to a corrective decline in wave (iv) beginning later next week,
so we are looking at another corrective pattern in play for this market over the coming week at least.
Wave (iv) blue could fall back below 1.0200 again to complete.

Monday;
Watch for a pop in Mondays trade to break that wave (iii) high at 1.0484.
Then I will begin to look for a top to form in wave ‘v’ of (iii).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

We are drawing close to the end of a pattern in GBPUSD also today.
The pattern in wave ‘A’ requires one more push towards 1.23 to complete.
The ideal top for wave ‘A’ lies at 1.2340 where wave ‘A’ reaches equality with wave ‘A’.
The price has fallen off this weeks high at 1.2152 in a corrective fashion and this fits the pattern in wave ‘iv’ so far.
And the minimum target for wave ‘v’ is a break of wave (iii) at 1.2153.

Monday;
Watch for a break of the minimum target at 1.2153.
We will see how the price reacts after that target level,
but we can begin to look for a top after that target is hit.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The low this week is close to breaking below the wave ‘A’ low at 137.71.
I am looking for this weeks low to hold the higher low and complete wave [b] as shown.
If the price falls again to a new low then I may be forced to rethink the pattern for wave ‘A’.

As for the main pattern,
Wave ‘B’ requires one more rally to break above 142.26 to complete above wave [a].

Monday;
The rally off the low so far today is in three waves.
So this rally must continue in five waves to break the minimum target at 142.27.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Momentum on the 4hr chart continues to show a worsening bearish divergence picture.
The market managed a small new high this week,
and momentum has again peaked and rolled over to form another lower high.

The pattern is complete across all charts now.
Wave [ii] is complete with that new high above 34285.
Wave (c) has completed five waves up,
and wave ‘v’ has completed five waves up also.

Even the main alternate count on the daily chart has now reached its completion point with wave ‘2’ now in place.
All that actually has to happen from here is for the reversal to begin with that initial impulsive wave lower in wave ‘i’.

Monday;
Watch for wave ‘v’ to show signs of giving up and reversing.
the environment is ripe here for a major decline phase to begin,
watch for wave ‘1’ of ‘i’ to begin over the coming days.
All I can really do now is wait for that initial signal.
So I suspect next week will be one of those patience testing moments.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold managed a 50% retracement of wave ‘a’ at todays high.
I am calling that a high for wave ‘b’ as an expanded flat correction.
The price has reversed off that wave ‘b’ high today also,
so at the moment the count is suggesting wave ‘c’ is now underway.
Wave ‘c’ should fall in a five wave pattern from here.
And I am considering the idea that wave wave ‘1’ and ‘2’ of ‘c’ is complete today.
A five wave decline in wave ‘c’ is expected from here.
And I am looking for wave ‘c’ to hit the 50% retracement level of wave (ii) near 1700
At that point I will be happy to look higher into wave (iii) after next week.

Tomorrow;
Watch for wave ‘c’ to continue lower in five waves as suggested.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Wave (v) of [i] is nearing the target at 75.30 now
and once we break that 75.00 level again that will complete wave [i]
and then we can look for a low to form and wave [ii] to begin.
Wave ‘v’ of (v) turned sharply lower this evening.

Tomorrow;
Thats five waves down in wave (v) blue.
The target remains the same at 75.00 and then next week we will begin to look higher into wave [ii].

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The market is obviously quiet today and that explains the non action.
But the internal pattern of wave ‘5’ looks incomplete,
actually wave looks ‘5’ like it needs a small rally on Monday to complete a five wave internal pattern within.
A pop higher to hit the upper trend channel line near 4070 would do the trick.
And at that point I think we are clear to drop into wave ‘i’ and put an end to this endless rally.

Monday;
One last pop will complete five waves in wave ‘5’,
and five waves in wave ‘c’,
and that also tops off a three wave pattern in wave (ii).
All this is pointing to a completed correction.
And now I am looking for a trap door to open to begin wave ‘i’ of (iii) down.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

We have a possible reversal pattern off that wave [ii] lower high today.
There is a clear three wave pattern to a lower high done in wave [ii].
And now we need some confirming price action to the downside from here,
to confirm wave [iii] is underway early next week.

Monday;
This pattern requires an extension lower into wave [iii],
so I will be looking for a break of the wave [i] low at 20.56 as wave (i) completes.

Watch for wave (i) to trace out five waves down as shown.
A break of 20.89 again will favor the wave (i) count.