Good evening to one and all.

The Lord’s Blessings to you all.

Good evening one and all and I hope you guys and gals had a wonderful and peaceful Christmas break.
I decided to get back in touch with you tonight as it is the first trading day after the Christmas holidays.
Even though I am doubtful that many will be tuning in at all this week!
I will be here though with a few words to say each day.

The stretch between Christmas and new years is usually a no show for much of the big players.
So it may be bit of a flop this week!

Anyway,
Its been a very low volume day so far so there is not much we can glean from the action.
I will say this though,
a rally at the end of a trend on very low volume is a fairly standard signal of an impending trend change.
and that may well be the story of this week.

Ok,
here we go.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The idea of a wave ‘b’ correction is still the best fit pattern for the action here.
The price made a new attempt to turn lower into wave ‘c’ with a spike off the high.
the high today is just below the 62% retracement of wave ‘a’,
and now the pattern suggests a new low is due in wave ‘c’ to complete wave ‘a’ pink later this week.

Tomorrow;
Lets see if wave ‘c’ can turn lower again and trace out five waves down towards the 1.0500 handle again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

There is very little to go on for wave (b) today but we do have a small three wave pattern off the wave (a) low.
This can be interpreted as a completed wave (b).
and the spike lower today is possibly a beginning to wave (c).
If wave (b) can hold at 1.2113 tomorrowm
then wave (c) should trace out five wave down to a new low near 1.1750 or so.

Tomorrow;
Lets see if wave (b) is complete as this smaller three wave correction,
then we are set for a five wave decline for the rest of the week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

A three wave drift higher off last weeks lows is now in place.
I am suggesting that wave [iv] of ‘C’ is complete,
and wave [v] of ‘C’ is set to fall to a new low to break the wave [iii] low at 130.56.

the alternate count is pretty clear and in this case we have a larger three wave move higher in wave ‘B’ dead ahead.
If the price hits 136.00 again,
then I will favor the alternate wave ‘B’.

Tomorrow;
watch for wave [iv] to top out now and then turn lower into wave [v].
A break of 132.00 again will signal wave [v] is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow has completed three waves up off last weeks lows,
the price is holding a lower high below wave ‘a’
and I can still count this action as an impulsive move lower to begin wave ‘iii’ down.

It is still possible that wave ‘iii’ has begun,
but at the moment,
I am leaning towards the larger wave ‘ii’ count as shown.
In this scenario wave ‘c’ of ‘ii’ will make a slight new high above wave ‘a’.
and then later this week will should see the turn into wave ‘iii’ beginning.

Tomorrow;
Watch for wave ‘c’ of ‘ii’ to break the wave ‘a’ top at 33465.
once the trend channel is complete,
then I will look for wave ‘iii’ to begin.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Another three wave pattern higher is complete at todays high,
and now the price is back to flat again for the session.
even though this is a new high in wave ‘b’,
the count remains valid in wave (ii).
Only now,
wave (ii) is an expanded flat correction and wave ‘c’ of (ii) should now extend lower to break below the wave ‘a’ low at 1773.

Tomorrow;
Watch for wave ‘c’ to continue lower in a five wave pattern for the rest of this week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I am still waiting for a turn lower off this corrective second wave to begin wave (iii) down this week.
The action today is pretty flat and corrective looking to be honest,
but I am willing to give this pattern one more chance to kick start into wave ‘i’ of (iii) down.

The alternate pattern will be triggered tomorrow if the price does not make a significant more lower to begin wave ‘i’ (iii).

Tomorrow;
Watch for wave ‘i’ of (iii) to fall below 77.78 at a minimum.
I would prefer to see wave ‘i’ make it towards the wave ‘b’ low at 73.40 again.
But we will see how tomorrow goes to make a better judgement on this pattern.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The s&p is off The highs of last week and managed a sharper move lower today also.
I am suggesting the idea that wave ‘2’ of ‘iii’ is actually complete at todays lower high.
and that wave ‘3’ of ‘iii’ is now underway.
If this pattern is correct,
then we should see an acceleration lower this week into wave ‘3’ of ‘iii’ of (iii).
The consequences of this count are quite high as this move may be the one to trigger a sustained market crash.

I know I am talking a big game here,
so I am going to temper this count by looking also at the alternate count on the 4hr chart.
The alternate count suggests that the current decline is only wave (i) of [iii].
and in this scenario the coming decline will not be as catastrophic.
A decline into wave (i) of [iii] will give way to a further corrective bounce in wave (ii) later in January.

We should know this week if the more bearish main count is correct or not.

Tomorrow;
A sharp decline tomorrow to begin wave ‘3’ of ‘iii’ of (iii) should make a new low below 3490 again at the wave (i) low.
This is a minimum target,
so there count may be asking a lot here.
A whole lot depends on how the next few trading days go.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has created a double top today and I have altered the count slightly for wave (v) to account for that.
The ending diagonal is still the best way I can explain the action over the last months.
The internal pattern of wave [c] has too many internal violations in the structure to suggest that this is a big impulse pattern.
We will see tomorrow if wave (v) blue will manage a new high,
or if that double top has done the job.

Tomorrow;
Watch for wave ‘c’ of (v) to top out and turn lower into wave [i] of ‘5’ again.