Good evening to one and all.

The Lord’s Blessings to you all.

Monday is a public holiday in the U.S and with that the market will be closed as usual.
So I will be back on Tuesday again to begin a new year.
And boy does it look like we are lining up for a whopper of a year ahead.
I am thinking 2008/09 again,
except at one degree higher in the pattern.
So lets wind down this year with one last update and see what the first week of 2023 hold.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I am just a little annoyed with EURUSD today after hinting at a top yesterday along with a reasonable turndown to begin wave ‘c’,
then we get another spike to a new high today!
The pattern off wave ‘a’ is still in three waves to the upside.
And so I am going to stick with the wave ‘b’ idea here even after todays rally.
Three waves up should be followed by a five wave decline to a new low in wave ‘c’ of (a) early next week.
The minimum target remains the same at 1.0571.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

It is a similar frustrating story in cable tonight.
The pattern in wave ‘ii’ is holding for now as the price is holding below 1.2125.
But the price has failed to turn lower into wave ‘iii’ as the pattern is suggesting.
I cannot rule this pattern out here just yet though,
so I am going to continue looking for wave ‘iii’ of (c) to be confirmed with a break of 1.1993 early next week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has fallen further towards the minimum target level at 130.56 today,
in fact we are almost at that level now as I write.
The late decline this evening has confirmed this main count now for wave [v] of ‘C’.
so I can pretty much rule out the alternate count for wave ‘B’ now.
Once we hit that 130 low again that will be a double bottom at the previous wave ‘4’ low.
And I am looking for wave (4) to find a low again in this area.

I have changed the 4hr count today to another possible interpretation for the ninternal count of wave (4).
Either way,
I do think we are close to a final low in wave (4).
And wave (5) should be a major rally to a new high most likely up near the 160 level again.
So this could be a big start to the year for the USD.

Next week;
Watch for wave [v] to find that final low with a break of 130.00 again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has managed to hold within the triangle pattern for wave ‘b’ today.
And now the market has managed to spike higher off the lows again this evening.
So the triangle may be complete at todays lows.
Wave ‘c’ of ‘ii’ should run higher to break above the wave ‘a’ high at 33460 again.
The 50% retracement level of wave ‘i’ lies at 33700,
so that is a possible high water mark for this correction.
Next week I will be looking for a definite move lower to begin wave ‘iii’ down.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has held up quite well this week,
but the price is still holding a lower high below wave ‘b’,
and the action is decidedly corrective in nature this week.
so this pattern has not been violated as an expanded flat correction wave (ii),
and I can still look for a five wave decline into wave ‘c’ next week.
Also,
the action is forming a bearish left shoulder around the wave ‘b’ high,
and the highs today are peaking at the previous shoulder high.
All this does suggest wave ‘c’ is coming next week and the 1750 area is a reasonable target to look at.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

crude is holding the wave ‘2’ lower high also today.
the price has rallied back close to the recent wave (ii) high but without managing to break above there yet.
This count in wave ‘i’ of (iii) will remain valid until wave (ii) is broken at 81.14 again,
so if that level holds,
then the bearish count holds.

Next week;
watch for wave ‘i’ to trace out five waves down as suggested.
That will confirm the bearish pattern next week if we see wave ‘i’ complete near 73.00 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I have switched to that triangle pattern for wave ‘b’ of ‘ii’ tonight also.
The market did fall today,
but the action looks corrective and fits the triangle better than a new impulse wave lower as I previously showed.
If this pattern is correct,
then we should see rally again into wave ‘c’ of ‘ii’ early next week.
A break above 3890 again will be enough to complete this correction in wave ‘ii’,
and then I will look for an aggressive decline to begin wave ‘iii’ of (iii) by the end of next week.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

the Silver market was completely dead today so there is very little I can add to the pattern tonight.
This week has ended up with a sideways triangle in wave ‘b’ of (v).
And wave ‘c’ is left to complete a very long and drawn out ending diagonal pattern.
Wave ‘c’ can be complete with a simple spike higher on Tuesday to break 24.30.
And then,
a break below 22.58 again will signal wave (i) of [i] of ‘5’ has begun so I will be looking for that pattern to be confirmed by the end of next week.