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October 4th, 2013: GLD Wave Count Update

Posted by pugsma on October 4, 2013

7:40 pm EST:   GLD has found a potential major [2]-P5 bottom at the 62% retrace for of 123.81.   However, until the GLD price move sabove 132.78, this major [2] can’t be confirmed allowing for a potential lower major [2] low at the 78% retrace of 119.71, which is also near the Y=W=120.4 target.   The major [2]-P5 count remains valid as long as GLD does not breach the 114.68 low.  If GLD breaks 114.68, then the alternate (red) count is likely as shown on the weekly chart.

GLD 60-min chart (EOD):

PUG GLD 60-min EOD 10-4-13

GLD 4-hr chart (EOD):

PUG GLD 4-hr EOD 10-4-13

GLD weekly chart (EOD):

PUG GLD weekly EOD 10-4-13

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