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December 2nd, 2013: GLD Wave Count Update

Posted by pugsma on December 2, 2013

11:30 am EST:  GLD has continues to sink lower and the primary count P4 low of 114.68 is now being seriously threatened.  The 88% retrace target for major [2]-P5-C5 is at 117.42 and is the last stand for GLD’s primary wave count.  A drop below 114.68 will signal that the alternate (red) count is underway with wave minor 3 of major [5]-PC-CA headed for the 106 target, where minor 3=1.62*minor 1.

GLD 60-min chart (mid-day):

PUG GLD 60-min chart 12-2-13

GLD-4-hr chart (mid-day):

PUG GLD 4-hr chart 12-2-13

GLD weekly chart (mid-day):

PUG GLD weekly chart 12-2-13

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