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June 14th, 2013: GLD Wave Count Update

Posted by pugsma on June 14, 2013

12:55 pm EST:  The primary count is that GLD is a wave (3) of minor 3 of major [1]-P5 headed for a (3)=1.62*(1) target of 149.98.   For the primary count to be confirmed GLD needs to break above 139.30.  The major [1]-P5 target is about 156 sometime in the fall of 2014.

The alternate (blue) count is that GLD wants to make one more lower, low below 130.51 to complete wave v-(5) of minor C of major [Y]-P4.  The target is at 127.31 where [Y]=1.23*[w].  There is also the 50% retrace of P3 target at 127.33.  A break down below 130.51 will confirm the alternate (blue) count.

GLD 60-min chart:

PUG GLD 60-min chart 6-14-13

GLD 4-hr chart:

PUG GLD 4-hr chart 6-14-13

GLD weekly chart:

PUG GLD weekly chart 6-14-13

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