Some subscribers evidently were able to make hay with the 1181.50 buy trigger flagged here Sunday night. “I also took the [gold] trade by buying JNUG this morning 3000 shares,” reported one subscriber in the chat room, at 11:45 a.m. “Just sold for 5K profit. Paid this months mortgage on my house. Thanks Rick.” Down on gold as I’ve been lately, the lesser charts looked ripe for a turn for reasons that I explained in detail. Indeed, the futures vaulted $27, to an intraday high of 1206.70. Moreover, they were holding on to most of the gain Monday night. Because the peak of the upthrust exceeded highs recorded last week near 1205, it was bullishly impulsive on the hourly chart. I won’t presume to have a crystal ball, since a pullback low has yet to be established, but we’ll use the pattern shown to project a next rally leg once point ‘C’ is in.
