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May 9th, 2014: GLD Wave Count Update

Posted by pugsma on May 9, 2014

1:05 pm EST:   It looks like GLD maybe headed lower this summer to the 117-118 area (78% to 88% retrace) to complete major [B]-PA-CB and this has become the primary count.  However, it is still possible GLD could hold the 122.82 level as the completion of major [B]-PA-CB and this has become the alternate (blue) count.  A break above 128.25 is required in either case confirm that the major [B] low is in place.

GLD 60-min chart (mid-day):

PUG GLD 60-min chart MD 5-9-14

GLD 4-hr chart (mid-day):

PUG GLD 4-hr chart MD 5-9-14

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