The futures are bound most immediately for the 1165.90 target shown. Although several subscribers reported getting long from around 1143 based on guidance provided here yesterday, I am not establishing a tracking position because the trade did not conform to our criteria for ‘mechanical’ entries. If Thursday night’s price action does, however, it could conceivably set up a ‘mechanical’ buy on a pullback to p2=1151.55, stop 1146.75. Initiate this trade only if you understand the rules, but be aware in any case that with a little more work, a ‘camouflage’ entry can get you aboard at the same level with considerably less risk. As always, an easy move through the target would imply more upside in the days ahead._______ UPDATE (10:25 a.m. EST): The futures have mildly disappointed, selling off sharply after getting no higher than 1164.00. The ‘mechanical’ trade from 1151.55 was not possible, by the way, since there was no pullback to the pink line before gold summited.
