Good evening to one and all.

The Lord’s Blessings to you all.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD continues to whipsaw around the top of wave ‘b’,
the pattern this evening leaves us with another reversal possiblity
with the price breaking into the wave ‘a’ price territory again.
there is a clear three wave pattern in place in that wave ‘b’ rally,
and now we need a five wave decline to complete an expanded flat correction as shown.
A break of the wave ‘a’ low at 1.0222 will complete this pattern.

Tomorrow;
Watch for wave ‘1’ and ‘2’ to form that lower high below 1.0590.
Then we can expect a sharp decline into wave ‘3’ once that lower high completes.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The action in cable today is again raising the possibility that wave ‘A’ has topped.
We need that long awaited confirming price action over the few sessions,
and that will come with a break of the wave (iv) low at 1.1899.

Wave [a] can trace out three waves down to begin the larger correction in wave ‘B’.
And wave (a) of [a] is open to interpretation so far.
A solid five wave decline with a low near 1.20 in wave (a) will be welcome,

Tomorrow;
Watch for wave ‘A’ to hold at 1.2343.
Tomorrows trade should be enough to complete wave (a) blue.
we can make a judgement on the overall pattern once that is complete.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is beginning to make progress to the upside now after a failed attempt and a new low last week.
There is a three wave pattern developing off the lows at wave ‘A’ now.
As with the other pairs tonight,
there is no confirmation of the reversal pattern yet.
But todays action is a good start.

Wave (a) can trace out both 3 or 5 waves up,
so I will just have to wait and see what happens over the next few sessions to see how that develops.
I am looking for a break of that previous wave (iv) high at 139.89 as a god confirmation level for wave ‘B’.
And the higher degree fourth wave at 142.23 is the initial target for wave [a] green.
So there is a way to go here.

Tomorrow;
Watch for wave ‘A’ to hold this week at 133.63.
Wave (a) of [a] should continue higher and complete at least a three wave pattern.
Wave ‘c’ of (a) actually looks like it will trace out a five wave move,
so there is more upside left in wave (a) is this count holds.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

A decline is welcome in order to bring the action back in line with the main wave count.
But the action today is not nearly significant enough to get excited by a reversal just yet.
I will wait for confirmation on that front over the coming days.

If the top is in for wave [ii] now,
then this week must bring a sizable decline where we see multiple breaks of support.
I would like to see wave ‘i’ pink retrace most if not all of the previous wave ‘v’ ending diagonal as shown.
There are three support shelves in the price structure on the way to that 31700 target.
So each break will add weight to the idea that a top is in for wave [ii].
A break of that wave ‘iv’ low will be a big boost for the bearish count.
So there is a lot of work to do this week before I can regain confidence in the bearish short term pattern.

Tomorrow;
Lets see if the recent high at wave (c) of [ii] can hold.
A break of wave ‘4’ at 33570 is the initial target for this pattern now.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has made good progress towards confirming the count for wave ‘c’ of (ii) today.
The drop off that wave ‘b’ high has retraced much of last weeks rally in wave ‘c’.
The minimum target for wave ‘c’ lies at 1724 again,
but it really depends on how the internal pattern for wave ‘c’ unfolds.
The decline so far may only be wave ‘1’ of ‘c’ of (iv).
And if that is the case,
a five wave decline with a third wave extension could break down below 1700 again to complete.
that sort of decline would bring wave (ii) close to the 62% retracement level of wave (i).
so I can’t rule this out at all.

Tomorrow;
Watch for wave ‘1’ and ‘2’ to complete a small lower high near 1786 at the wave (i) high.
Wave ‘3’ of ‘c’ should bring the price back below 1740 again if we take the minimum target as the end point of this pattern.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude made a serious move lower today in line with our possible wave ‘iii’ of (i) count.
the price has found support near the wave (b) low of the previous rally.
If this is wave (i) down now underway,
then wave should see a five wave pattern complete over the next few sessions new 75.00.
And the larger wave (ii) of [iii] will then take over and retrace higher as shown.
The main pattern is likely to cause a range in the trade that oscillates around that 77.00 area over the coming week or so.
But once wave (ii) completes,
then we are back in free fall territory again as wave (iii) of [iii] will be free to begin at that point.

The alternate count views this decline as wave (b) of [ii] shown in the red box.
This decline has traced out three waves down so far.
So a rally back above 80.00 again will favor the alternate count for wave [ii].

Tomorrow;
Watch for wave ‘iii’ to find a low soon and wave ‘iv’ correct sideways again.
Wave ‘iv’ should take most of the session tomorrow to complete.
And wave ‘iv’ must complete below 79.70 at wave ‘i’.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is making prigress off that high at wave ‘c’ of (ii).
The action so far off that high is not in five waves as I would like to see,
but there is time to develop that pattern over the coming days.
So I am willing to allow this time to develop.

The decline off wave (ii) has given some hope to the the idea of a topping correction here though.
As we see the top came in almost bang on the level where wave ‘c’ and ‘a’ reached equality.
Now we need to see a follow through to the downside and a break below the initial band of support between 3930 and 3900.
That marks the internal lows within the wave ‘4’ running flat correction.

Tomorrow;
Watch for the highs to hold at wave (ii) again.
And this new decline to develop in five waves to the downside.
A break of 3900 will add weight to the reversal idea here.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is turning back in favor of the main count again tonight.
And the decline off the top of wave [c] has retraced about 50% of last weeks rally.
I am looking for a five wave decline to hit the previous wave (iv) low at 21.10 again.
So the main count requires more downside from here.
I will not be happy until that wave (iv) low is broken and then I can begin to concentrate on the larger pattern.
For the moment I am just looking for the reversal to take over here.
five waves down to complete wave (i) or wave [i] is the focus this week.