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November 22nd, 2014: GLD Wave Count Update

Posted by pugsma on November 22, 2014

8:25 pm EST:    The primary count on GLD has it wrapping up major [4]-P5-CA.   The 38% retrace target for major [4] is at 116.18 and GLD has so far reached 115.96.  As long as this major [4] wave remains below the major [1]-P5 wave low of 124.36, the primary count on GLD remains valid.  Once major [4] completes, the major [5] wave should head for the major [5]=1.62*[1] target of 105.75.

The alternate (blue) count has the P5-CA wave complete at 109.67 and wave PA-CB up underway.  If this alternate (blue) count is correct, then PA should break the primary count invalidation point of 124.36 on route to a 130.50 pivot area target.

GLD 60-min chart (EOD, 11-21-14):

PUG GLD 60-min chart EOD 11-21-14

GLD 4-hr chart (EOD, 11-21-14):

PUG GLD 4-hr chart EOD 11-21-14

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