We should make yesterday’s hesitation at 1144.50 our little secret, since the event, which we had predicted precisely, could conceivably provide us with some very useful intelligence in the future concerning Gold’s underlying mood. If we were to interpret the pause at this Hidden Pivot  midpoint strictly by-the-book, we could not say yet with confidence whether the highs near the pivot will prove to be the top for gold for the next ten years, or the next ten hours; or whether instead the price of gold is about to embark on a thousand-point rally. What we do know, however, is that if and when the April futures blow past 1144.50,they will become an odds-on  bet to cruise up to at least 1244.50, the ‘D’ target sibling of our so-far stubborn midpoint.

And here is something else we might “know” very shortly:  In the ABC pattern that governs our current analysis (see chart), it has taken April Gold four-and-a-half months to reach the 1144.50 midpoint. That’s a long time, and so we shouldn’t expect the midpoint to give way in a mere day or two. If  give way it does, however, we would have good reason to infer that the rally is quite powerful — i.e., well capable of getting to 1244.50  more quickly than we or perhaps anyone but Jim Sinclair might have imagined. This doesn’t exactly square with the weak-euro story that now enjoys — if you’ll pardon the expression — currency in financial circles, but then, that’s why we use charts; otherwise, one could blow out all the circuits in one’s brain trying to parse the logic of “weak” and “strong” currencies (or the ups and downs of T-Bonds, for that matter).