Good evening to one and all.

The Lord’s Blessings to you all.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Wave ‘b’ created a tripple top at 1.0660 over the last few days,
and now after all that road to nowhere action,
the price fell today out of the range and wave ‘c’ seems to be underway now.

The decline into wave ‘c’ has not been particularly fast as you might expect,
but the price has broken the wave ‘a’ low this evening and that is enough to validate this short term count.

Tomorrow;
The lower target at 1.0510 seems achievable in wave ‘c’ now,
so watch for wave ‘c’ to continue lower towards that target area tomorrow to complete wave ‘a’ of (ii).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable stepped lower again today and this seems to have confirmed the pattern I have been following for wave (a).
The minimum target for wave ‘c’ has been met with a break of the wave ‘a’ low,
and my preferred minimum at 1.20 has been met also.
but I expect wave ‘c’ can manage to complete five waves down and hit the target level at 1.1900.

Tomorrow;
Watch for wave ‘c’ to complete five waves down and hit the 1.1900 level to complete the larger three wave pattern in wave (a).

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

A corrective move continues today in wave [iv] green and if this count is correct here,
then we should be close to completing a three wave correction now.
The action is quite tight overall,
but wave (c) has made a new high today and that has fulfilled the minimum expectations for the pattern today.
If we see a sharp reversal lower beginning tomorrow,
that will suggest wave [v] of ‘C’ is underway.

Tomorrow;
WAtch for this pattern to complete as a three wave correction higher in wave [iv].
Only a drop back below 130.56 again will confirm the pattern.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Easy come,
easy go, hey!

Todays action does indicate that the correction in wave ‘ii’ is now complete without even reaching the 38.2% retracement level.
The market moved lower in a very sharp and impulsive manner also,
so the idea of a reversal into a third wave decline fits pretty well here.
the high of wave ‘ii’ completed at the neck line of the previous wave ‘iv’ correction.
At this time I can take this failure to break above previous support as a sign of weakness in the market.
I can also suggest that the market is creating a right hand shoulder now,
this should complete a head and shoulders pattern around the recent top at wave [ii] green.
At this point I can see the signs are all pointing to an exhaustion point in the market.
If I am correct here,
then this action will be resolved with a very powerful move lower over the coming weeks and into the new year.

Tomorrow;
If wave ‘iii’ of (i) of [iii] is now beginning,
then the action will begin to step much lower over the coming week.
Watch for wave ‘2’ to complete a further lower high below the wave ‘ii’ high tomorrow.
then wave ‘3’ of ‘iii’ will get going next week.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold made a sharp move lower today along with stocks,
and this is a fact that I am contineously concerned with to be honest.
I dont like it when the supposed hedge against panic in risk assets,
moves in lockstep with those risk assets when times of panic actually arise!
This is someting I am going to have to keep a close eye on from here on.

If this move lower is actually wave ‘c’ of (ii) now underway,
then we should expect the price to break below 1773 at a minimum to compelte wave (ii).
I would like to see wave ‘c’ of (ii) hit the 38% rettracement level at 1745.
And below that lies the 50% retracement of wave (i) at 1720,
overall, that is my preferred target level for wave (ii).
But I will just wait and see how this new decline progresses to make a judgement on that later.

Tomorrow;
Lets see what internal pattern wave ‘c’ takes tomorrow,
if the price manages to correct higher slightly that will favor the idea that wave ‘c’ is going to extend its decline towards the lower targets.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude did fall off the high at wave ‘c’ today,
and the action does suggest wave (ii) is now complete at todays session high but that remains to be confirmed.
The price failed to hit the 78.6% retracement of wave (i) at that high,
and the low of the session today actually broke back into the price of wave ‘a’ again.
While all this is indicative of a completed wave (ii),
I will wait to see if there is a follow through to the downside over the coming days to confirm the pattern.

Tomorrow;
Watch for wave (ii) to hold at 79.85.
A break of the wave ‘b’ low at 73.37 again will favor this bearish count.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

you might say that I am hedging my bets between both stock indices today,
but at the moment the main count for wave ‘ii’ and the alternate count which resemble’s the Dow count actually both fit reasonably well.
The action from here on will decide which is more appropriate.

A rally in wave ‘c’ of ‘ii’ will carry the price back above the wave ‘a’ high at 3893 again to complete an expanded flat correction in wave ‘ii’.
That is the outlook for this count now,
so lets see if the market can manage a new high for wave ‘c’ of ‘ii’ tomorrow.

Tomorrow;
Watch for the price to continue higher and break the wave ‘a’ top at 3892 to complete an expanded flat wave ‘ii’.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The price high this week is holding so far but as yet there is now confirmation of this new count for silver.
and as such I remain hand cuffed as to what I can surmise from the action.
The big idea I have here is that silver is due a major impulsive decline into a fifth wave.
You all know that is my medium term outlook.
But as yet I have been foiled by the strength of this market.

I am patiently waiting for the price to register the initial bearish impulse wave lower in wave [i] and [ii] of ‘5’,
and it looks like I will have to wait even longer now.
So I will look to next week as a possibility to open the floodgates again to begin wave ‘5’.

Tomorrow;
Watch for that high at wave [c] to hold and lets see if the decline today can form an impulsive move lower.