The futures didn’t get very far yesterday, but they at least went higher, and that is never a bad thing. All that’s needed to start next week on the right foot would be a rally to the modest, 1232.00 target shown. Better yet would be a rally that exceeds it. It will take quite a bit more than that, however, to put bulls in that frenzied state of mind that will hit like gangbusters when they think they might be missing the boat. Shorts would feel an entirely different kind of anxiety, of course, but the combined effect would be the runaway bull market we’ve all been waiting for for all too long. Does a $200 breakaway gap await? I’m skeptical myself, but I’ll continue to take positive signs one impulse leg at a time. In that regard, we should be encouraged by gold’s ability so far to hold above the 1137.50 Hidden Pivot I’d first drum-rolled here a while back.
