PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

January 2nd, 2017: GLD 60-min and 4-hr Chart Update

Posted by pugsma on January 2, 2017

11:15 am EST:  GLD appears to have found the P1-CC bottom at 107.00 just below my 109.67 target set last summer (2016).  Now GLD should enter a Primary 2 (P2) wave up that could retrace 38%/50% up to 116.18/119.08.  The P2 wave should be 3-wave major [A]-[B]-[C] wave move up.  It looks like major [A] has traced out minor 1-2-3 of a 5-wave move thus far.

GLD 60-min chart:

pug-gld-60-min-1-2-17

GLD 4-hr chart:

pug-gld-4-hr-1-2-17

GLD weekly chart:

pug-gld-weekly-1-2-17

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