GLD Daily… Trigger line crosses across the board pretty much confirm that minor (i) has completed and we’re headed up into minor (ii). Note that the Fib Projection for minor (i) was 111.50 and we got 111.57. I’m looking for a retrace to either the 50 or 61.8% Fib. A 50% retrace would be normal for a wave 2… Based on a retrace to the 50% Fib, minor (iii) could extend down to 104.75 which would be at the 161.8% Fib. A 38% retrace normal for a wave 4 would put minor (iv) at about 109.52 then down. The 100% measured move target would be around the 102 area….

0609_GLD