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May 13th, 2015: GLD Wave Count Update

Posted by pugsma on May 13, 2015

3:55 pm EST:  I have reviewed the GLD charts today and it is time for a big change in the GLD primary wave count to bring it inline with the SP-500 primary wave count.   With the RSI, MACD and Full STO indicators showing positive divergence on the GLD weekly chart, it would appear that GLD reached the Primary 5, Cycle A (P5-CA) bottom at 109.67 back in November 2014.   I’m expecting a Cycle B (CB) move up to the 50%/62% retrace area of 148/157 over the next year to align with the SP-500 Cycle 2 (C2) drop.  Once Cycle (B) ends, GLD should resume its down-trend during Cycle C (CC) with target area of 94/86 or the 50%/62% retracement of the Cycle 5 (C5) top at 186 in September of 2011.

The move up from 109.67 to 125.58 in January 2015 was major [W]-PW-CB, the move down to 109.77 was major [X]-PW-CB.  Major [Y]-PW is underway since January and should head for a target near 135, where [Y] = 1.62[W], by late fall 2015.

GLD 60-min chart (EOD):

PUG GLD 60-min chart 5-13-15

GLD 4-hr chart (EOD):

PUG GLD 4-hr chart 5-13-15

GLD daily chart (EOD):

PUG GLD daily chart 5-13-15

GLD weekly chart (EOD):

PUG GLD weekly chart 5-13-15

GLD Historical Chart:


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