3:24 pm PST. Here’s my wave count for GLD. I am looking for a wave ii pullback to $118-117.50ish, for another long-side entry. I think it will be choppy until then because I expect a corrective wave, which are always choppy. Barrick Gold is coiling and coiling.

Barrick Gold in this nice triangle

GLD could pullback to $118-$117.50ish.

impulsive wave 1-2-(i)-(ii)-i-ii, gathering momentum

Gold needs to break and close above $1261 with conviction. It has tried four times now and failed. This is the key level for gold now going forward to move forward. The fifth try, however, might just push gold through this brick wall. All those sellers at the 200 sma  will probably be gone by the fifth try and gold can fly higher. I see gold toggling back and forth between my key 1243 level and 1261. The 1243 level overlap showed gold would no longer break below $1000. Now gold has to push through 1261.