Gold was trading moderately higher this morning after having pushed past a key peak at 935.80. Despite this, there were subtle hints that the time is not right for an historical push above $1000. I took pains to explain why, using Hidden Pivot analysis. We also employed “camouflaged” impulse legs to create a bottom-fishing opportunity in Goldman that did not pan out. Even so, we could have come away with a small gain despite the inopportune timing. That is the beauty of “camouflage,” and the reason why I continue to emphasize it in the seminar and weekly tutorial sessions: You can trade all day long, picking bad entry points, and still come away with a profit. To end the session on a tradable note, we looked at very short-term trends in the Industrial Average, July Coffee, and the E-Mini S&P.
