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Oct 10th, 2013: GLD Wave Count Update

Posted by pugsma on October 10, 2013

1:10 pm EST:  No change in the GLD wave counts from the Oct 4th update.   GLD is still in no mans land between 123.81 and 132.78.  However since GLD is closer to 123.81 it makes the alternate (blue) count at little more likely at this time.

The primary needs to get moving up in wave iii-(1) to the 131.5 area and wave (1) needs to break above 132.78 to invalidate the alternate (blue) count. Full confirmation of the primary count comes on a break above 137.55.

The alternate (blue) is looking more likely and will be confirmed on a break below 123.81.  Several E-wave targets for major [2] are at clustered around the 78% retrace of 119.7.

A break below 114.68 would confirm the alternate (red) shown on the weekly GLD chart.

GLD 60-min chart (mid-day):

GLD 60-min chart MD 10-10-13

GLD 4-hr chart (mid-day):

GLD 4-hr chart MD 10-10-13

GLD weekly chart (mid-day):

GLD weekly chart MD 10-10-13

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