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

It’s Christmas time again! and with that I will be taking a few days off next week. The market will be closed Monday anyway, but I may just take Tuesday off also. I will be back for the second half of next week.

And I will be recording a weekly video tomorrow morning as usual.

So I pray you all have an enjoyable Christmas.

The King has come!

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD did break above the wave ‘iii’ top today and with that move we have a possible top for wave ‘v’ of (c) of [b].
The next step from here is a reversal to break below the wave ‘iv’ low at 1.0889 again to signal wave (i) of [c] is beginning.
That has not happened yet,
All we have achieved here so far is the minimum target for wave ‘v’ of (c).
so we will have to wait until next week to see if wave (i) of [c] will turn the market lower again.

Next week;
Three waves up in a trend channel is done here.
Watch for wave (i) of [c] to turn lower again over the coming days.
A break of the wave ‘iv’ low at 1.0989 will the be the initial signal to look for.

GBPUSD

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GBPUSD 4hr.

GBPUSD daily.

I am looking at a possible running flat correction for wave ‘ii’ today after the price has run much higher than expected in the previous count.
We still have a lower high in place for wave ‘ii’ pink at the moment.
So Once we see a drop back below 1.2628 again that will signal wave ‘iii’ has begun.
So it is a waiting game to see will the next leg down take over in cable also.

Next week;
watch for wave ‘ii’ to hold below that recent high at 1.2793.
Wave ‘iii’ of (i) must take over next week and break support to confirm this pattern.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

It may seem a little silly to be looking for a decline in all three of these USD markets.
But the context of these down waves are all different.
So while the markets may move together for a while,
they will not trend together over time.

Wave [c] of ‘2’ is what we are building here each day.
And wave [c] should trace out five waves down overall as shown.
Wave (iii) of [c] is what I am looking at right now.
And this is where the market seems stuck at the moment.

The decline over the past few sessions is now viewed as wave ‘i’ of (iii).
Wave ‘ii’ should correct towards 143.00 early next week.
And then wave ‘iii’ of (iii) will break support next week if this count is correct.

Next week;
Watch for wave (iii) of [c] to continue lower and complete five waves down with a break below 140.00 over the coming days.

DOW JONES.

DOW 1hr.

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DOW daily.

I may have spoken too soon again last night as we have a retracement back into the highs again today.
The pattern may still develop in an impulsive manner to the downside here.
But we are going to have to wait on next weeks action to see if that is true or not.

At this point I cant say much more than I have said over the last few weeks.
In fact,
I think I have said it all to the point of nausea for you guys!
So Maybe its time to keep quiet for a few days until we see what develops.

GOLD

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GOLD daily.

I have changed the wave count for wave ‘b’ today,
after the triangle idea just does not seem to fit the action very well now.

It is now possible that wave ‘c’ actually topped out this evening.
The price did hit that minimum target level for by breaking above the wave ‘a’ high today.
And after the price hit that new high abvoe 2048,
we now have a small, but sharp drop beginning.

The next thing to look for here is a drop back below the wave ‘b’ low at 2015 to confirm that wave ‘i’ of (iii) is underway.

Next week;
Watch for wave ‘c’ of (ii) to hold at 2071.
Wave ‘i’ of (iii) should fall back below 2015 at a minimum.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

A slightly different count for crude oil tonight.
I have labelled wave (a) as a five wave pattern at this weeks early high.
Wave (b) is still labelled as a running flat which completed at 72.48.
And now wave (c) should trace out five waves up again towards the 78.00 area by the end of next week.

Next week;
watch for wave (c) to trace out five waves up as shown.
The wave (b) low should hold at 72.48.

S&P 500.

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S&P 500 daily.

Whatever fear gripped the market yesterday has been almost fully retraced today!
Much like the Dow,
I am willing to give this pattern some time to see where we go from here.
I am expecting a big move lower to confirm the top of wave ‘2’ and the beginning of wave ‘3’.
and so far that next move down has not made an appearance.
So I am coming to you each night with empty promises!
We will soon see if the new year brings a reality check.
Yesterdays was a taster.
Next week will be interesting.

SILVER.

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SILVER daily.

The slow grind higher this week seems to have hit a brick wall tonight.
The rally this week definitely has the look of a correction.
so I can keep the wave ‘b’ of ‘ii’ label for the moment.
The minimum target for wave ‘c’ of ‘ii’ lies at 23.64 again,
so that is the outlook to complete this pattern.

next week;
Watch for wave ‘c’ of ‘ii’ to drop back into the wave ‘a’ support at 23.64 to complete an expanded flat correction.