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January 8th, 2014: GLD Wave Count Update

Posted by pugsma on January 8, 2014

10:15 am EST:   GLD topped wave minor 1 of major [A]-PA-CB at 120.39.  The minor 2 wave correction is underway in what looks like a flat.  The typical minor 2 fib retrace targets are 50%=117.45 and 62% =116.73.    Once minor 2 completes wave minor 3 up should get underway with a target of 127.02, where minor 3 = 1.62*minor 1.

GLD 60-min chart:

PUG GLD 60-min chart MD 1-8-13

GLD 4-hr chart:

PUG GLD 4-hr chart MD 1-8-13

GLD weekly chart:

PUG GLD weekly chart MD 1-8-13

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