December 27th, 2013: GLD Wave Count Update
Posted by pugsma on December 27, 2013
2:10 pm EST: GLD may be very close to having found the PC-Cycle A (CA) bottom. A break above 118.03 and the falling bullish wedged should confirm it. If GLD remains below the 118.03 level, then there is good chance GLD will trade down the idea PC-CA target area of 113, where PC=1.62*PA (see 60-min chart for the details).
In either case GLD is set-up to make a big move higher in 2014 during the Cycle B (CB) wave up to the 150-160 area.
GLD 60-min chart (EOD):
GLD 4-hr chart (EOD):
GLD weekly chart (EOD):
GLD Long-Term Historical Chart:
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