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March 19th, 2013: AAPL and GLD Daily Chart with Indicators

Posted by pugsma on March 19, 2013

12:20 pm EST:  Below is an important GLD Daily Chart with Indicators and some key notes.  Notice how GLD failed at the falling 50-day SMA the past two times it reached that level in Nov 2012 and Jan 2013.  The RSI(14) also failed at the bear/bull area of 50.

The primary count on GLD is that wave (1) of minor 3 of major [1]-P5 is just now finishing up in the 158 area, which is at the falling 50-day SMA resistance.   Then wave (2) of minor 3 retrace should hold the 50% retrace of 154, which is also at the rising 13-day EMA.  If GLD   holds the 13-day EMA back-test at 154, then wave (3) of minor 3 should head for the 166 area, where (3)=1.62*(1).

GLD 60-min chart (mid-day):

GLD 60-min chart mid-day 3-19-13

GLD 4-hr chart (mid-day):

GLD 4-hr chart mid-day 3-19-13

GLD daily chart (3-19-13):

PUG GLD daily with indicators 3-19-13

GLD weekly chart (3-19-13):

GLD weekly chart mid-day 3-19-13

11:50 pm EST:  Below is an important AAPL Daily Chart with Indicators and some key notes.  Notice how AAPL failed at the falling 50-day SMA the past three times it reached that level in Dec 2012, Jan 2013 and Feb 2013.  The RSI(14) also failed at the bear/bull area of 50.   If this time is to be different and primary wave count on AAPL is to play-out the major [1]-P5 target of 500-510, then during this wave (2) of minor 3 of  major [1]-P5 retrace the price must hold above the rising 13-day EMA at 441.  A failure to hold the 13-day EMA at 441, would like lead to another sell-off to new lows below 419 per the alternate (blue) count headed for 396.  Note that the theoretical E-wave limit for this wave (2) of minor 3 is at 425 and the 50%/62% retrace is at 438/443.

AAPL 60-min chart (mid-day):

SP-500 AAPL 60-min mid-day 3-19-13

AAPL Daily chart (3-19-13):

PUG AAPL daily with indicators 3-19-13AAPL weekly chart (3-19-13):

AAPL weekly chart mid-day 3-19-13

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