PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

April 2nd, 2016: GLD Wave Count Update

Posted by pugsma on April 2, 2016

1:45 pm EST:   It looks like GLD may have found the PB-CB bottom at 115.55 just above the 114.46 pivot and 38% Fibonacci retrace of 113.95.   If 115.55 holds as the PB low, then the PC=PA target is at 137.69, which is near the 137.50 pivot.   A move up the 137.50 pivot for the PC-CB wave would be almost a 20% gain for GLD over the next 6 to 9 months.

GLD 4-hr chart (EOD 4-1-16):

PUG GLD 4-hr EOD 4-1-16

GLD daily chart (EOD 4-1-16):

PUG GLD daily EOD 4-1-16

GLD weekly chart (EOD 4-1-16):

PUG GLD weekly EOD 4-1-16

 

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