October 14th, 2015: GLD Wave Count Update
Posted by pugsma on October 14, 2015
4:30 pm EST: GLD broke out of the 4-year down Cycle A (CA) down channel on the weekly chart and is following the primary (red) count higher in a Cycle B (CB) wave that should retrace 50% of the 185.85 to 103.43 Cycle A (CA) decline. The 50% retrace target for CB is 144.64. Within CB, Primary A (PA) is underway that should target the 123.50 pivot. Within PA, major [3] is underway with a 1.62*[1] target of 119.35. Within major [3], minor 3 is under with a 1.62*minor 1 target of 115.46.
GLD 4-hr chart (EOD):
GLD daily chart (EOD):
GLD weekly chart (EOD):
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