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January 17th, 2014: GLD Wave Count Update

Posted by pugsma on January 17, 2014

5:20 pm EST:  GLD looks to be in wave iii-(3) of minor 3 of major [A]-PA-CB.   The wave iii-(3) target is at 124.84, where iii=1.62*I, the wave (3) target is at 126.09, where (3)=2.62*(1) and the minor 3 target is 127.01, where minor 3=1.62*minor 1.  Ultimately I’m looking for the major [A] wave to reach the 132 area.  The key level for this primary count to break above is 122.32 in order to confirm that the PC-CA bottom is in place at 114.46.  Also, to keep the primary count as labeled valid GLD must hold the wave ii-(3) low of 119.11.

GLD 60-min chart (EOD):

PUG GLD 60-min chart EOD 1-17-14

GLD 4-hr chart (EOD):

PUG GLD 4-hr chart EOD 1-17-14

GLD weekly chart (EOD):

PUG GLD weekly chart EOD 1-17-14

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