Wednesday, March 16, 2016

[GLD] update

The backlink assumed that the pullback was not over yet and I still think there will likely be a lower low.  The green model was drawn in my me before going to bed last night in Taiwan.  It essentially says that the 3 wave pullback seen so far has not likely taken enough time yet nor pulled back far enough yet to properly retraced wave 1 or A up.   This kind of whipsaw is just the thing needed to throw as many people off the track as possible.  Time will tell but don't be surprised if we get a lower low here; I view it as the most likely outcome based on this EW model

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