Thursday’s explosive rally brought the April contract within summiting distance of a 1308.00 peak from a year ago that I’d labeled ‘the Matterhorn’ in an earlier analysis.  From a Hidden Pivot perspective, this number is a very important benchmark, since, if the rally exceeds it without pausing for breath, it would greatly shorten the odds that the bear market begun in September of 2011 is over. To be sure, the 814 target I’ve been using as a bear-market projection will remain in play until such time as 1432.90 is exceeded to the upside. As a practical matter, however, the bear would be gravely wounded if this rally can hit 1308.10 without an intervening correction of more than $89. It will take at least another 2-3 days of strong buying to accomplish this, so sit back and relax for now.