All signs were “go” as trading drew to a close on Friday, with a Hidden Pivot at 1272.60 still our minimum objective for the near term. If the futures trade more than 0.50 above that number intraday, however, or close above it, you can be confident that the rally will continue to at least 1293.50. The pullback from that last Hidden Pivot should be precise because its sibling at 1230.75 has already shown precise stopping power. Accordingly, if you plan to adjust your long position or take partial profits, don’t assume that an instant test of resistance at 1300 is a done deal merely because the futures have pushed above 1290. _______ UPDATE 1:40 p.m. EDT):  Yet another gratuitous shakedown, and it’s enough to make one wonder whether these orchestrated selloffs need to be so brutal just to make a point. The drop was close to $30, and it created a nasty impulse leg on the hourly chart. The low so far has been 1235.90, but the selling would need to hit 1216.10 before Wednesday to become impulsive on the daily chart.  For what it’s worth, the mini-avalanche was telegraphed to some extent by the failure of the intraday high to surpass a secondary peak at 1264.80 recorded on June 21.  I remarked on this in the chat room when gold was down just $5, but I did not imagine the severity of the selling that was yet to come.