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January 1st, 2016: GLD Wave Count Update

Posted by pugsma on January 1, 2016

5:50 pm EST:  GLD price reached the 100.50 target for the red count to complete P5-CB.  This red count is now looking for multi-month move higher to a 50% retrace at 143.42.  GLD price must break above 113.99 to confirm the red count.   However if GLD is in the blue count, then it will bounce only to about 107.49 before resuming the move lower below 100.99 to 93.63 to complete CC.   Note the maximum P5-CC low for the large Ending Diagonal (ED) is at 91.84.

GLD 4-hr chart (12-31-15 EOD):

PUG GLD 4-hr Chart 1-1-16

GLD daily chart (12-31-15 EOD):

PUG GLD Daily Chart 1-1-16

GLD weekly chart (12-31-15 EOD):

PUG GLD Weekly Chart 1-1-16

This entry was posted on January 1, 2016 at 5:52 pm and is filed under GLD. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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