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August 2nd, 2013: AAPL and GLD Wave Count Update

Posted by pugsma on August 3, 2013

AAPL:  The AAPL primary count is looking very good.   AAPL price reached the wave iii-(3) of minor 3 of major [1]-P5 target of 460 on Friday.   I’m excepting a small wave iv-(3) consolidation before wave v-(3) heads for the (3)=2.62*(1) target at 499.   Then minor 3 target is 520 and the major [1]-P5 target is 540.

The alternate (blue) count is very close to be invalidated on a move above 466.   The wave (2) of minor 5 of major [C]-P4 must end here just below 466 and wave (3) down must get underway breaking the 385 low headed for a target of 340, where (3)=2.62*(1).  Ultimately P4 should reach the 50% retrace near 315.

AAPL 60-min chart (EOD):

PUG AAPL 60min chart EOD 8-2-13

AAPL 4-hr chart (EOD):

PUG AAPL 4-hr chart EOD 8-2-13

GLD:  GLD appears to be in double Zig-Zag for minor 2 of major [1]-P5.  Targets for minor 2 range from the 38% retrace at 124.2 to the 62% retrace at 120.6.  After the minor 2 correct the up-trend in GLD should continue in the minor 3 wave to a target of 143.5 to 147.1.

GLD 60-min chart (EOD):

PUG GLD 60min chart EOD 8-2-13

GLD 4-hr chart (EOD):

PUG GLD 4-hr chart EOD 8-2-13

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