The recent two-day plunge created a commanding impulse leg on the daily chart by surpassing three prior lows, two of them external. By monitoring the next down-leg, we should be able to tell whether this weakness will mark the end of the rally begun in March or merely correct it. If the bull trend is still intact, the correction should go no further than the CD midpoint. The dotted line in the accompanying chart shows how such a hypothetical pattern might play out. _______ UPDATE: See my Intraday Note concerning “All-Out War on Gold”.