I can find nothing on the intraday charts at the moment that would give me a confident basis for predicting what Gold will do next. However, considering impulse-leg rules alone, it is reasonable to speculate that the tide would turn decisively in bulls’ favor if the futures make a heroic leap today that touches 822.50. _______ UPDATE: We discussed this blunder during today’s real-time tutorial session, concluding that the bar should have been set at 825.30 — just above the highest of several peaks, among which 822.40 was the least formidable. Bottom line: 1) Gold is going lower, and 2) the rallies are all short-squeeze distributions.