PUG Stock Market Analysis, LLC | Technical Analysis Blog

PUG Stock Market Analysis is here to help with SP500, QQQ, IWM, Gold technical analysis, stock analysis and more.

Sept 25th, 2013: GLD Wave Count Update

Posted by pugsma on September 25, 2013

11:05 am EST:   The GLD primary count was hanging by a thread after wave (2) of minor 1 of major [3]-P5 retraced 88% of wave (1) at 126.34.   The target for wave (3) of minor 1 is at 138.70 where (3)=1.62*(1) and minor 1 should reach the 143 area.  As long as GLD holds the 125.15 major [2] low the primary count is remains valid.   Below 125.15, the alternate (blue) count takes over with wave minor C of major [C]-P4 likely headed for C=A at 121.4.

GLD 60-min chart (mid-day):

PUG GLD 60-min chart MD 9-25-13

GLD 4-hr chart (mid-day):

PUG GLD 4-hr chart MD 9-25-13

GLD weekly chart (mid-day):

PUG GLD weekly chart MD 9-25-13

Sorry, the comment form is closed at this time.