Traders and investors who have been using my 'hula numbers' to leverage gold's resurgence one predictable stride at a time, please take note: The June Comex contract is stealing up on an important rally target that merits our return to caution, however briefly. The precise number is 709.50, a hidden pivot broached here earlier that has the potential to cap the bull cycle begun two months ago from around $540. There is an alternative hidden pivot at 710.50, so it is logical to expect a shortable top at one number or the other, or perhaps somewhere in-between. How much of a correction should we look for thereafter? That's hard to say, although we should be prepared for a top of perhaps intermediate degree, meaning that the ensuing pullback could last for as long as four to six weeks. (Click here if photo reminds you of Rembrandt's Night Watch) Of course, there is another possible scenario ' that the June futures will punch through 709.50 and head higher within hours or even minutes of first encountering it. Since my proprietary hidden pivots are not, as I like to remind subscribers, chopped liver, the breach of one, even if slight, often implies that there is still considerable buying power remaining to be spent ' enough, presumably, to power gold not merely past the all time high of $850 recorded 25 years ago, but to the Katie-bar-the-door threshold of $1,000 an ounce. Could it have been only a few short years ago that the benighted Larry Kudlow, CNBC's A-team shill for the status quo, was explaining that the Fed had gold 'under control' at $310 an ounce, but that tightening might be warranted if it poked above�$330? *** Night Games Traders who keep night hours or who live in far-flung time zones could
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