Stocks were suffering their first setback in a while today, and gold was down too. Even so, the latter looked like a good bet to forge higher in the weeks ahead and to achieve a minimum $1016, a Hidden Pivot target that we were able to identify on the daily chart. Regarding the broad averages, even a cursory look at the E-Mini S&Ps’ hourly chart revealed potentially serious damage. Although the forecast remains bullish, we found reasons to monitor the ES hourly chart closely, since price action at the C-D midpoint of this correction could be revealing.
