Gold’s Whoopee Cushion rally on election night is going to take a heavy psychological toll on traders, most particularly bulls who got trapped buying at or near the fleeting top. This parallels what occurred in stocks, when DaBoyz pulled their bids on ginned-up fears of a Trump victory, sending the Mini-Dow plummeting 900 points overnight. Bears got trapped so badly by this maneuver that they were easily goaded into pushing the futures into a parabolic rally the next day that recouped overnight losses plus another than 300+ points. Gold has yet not broken down in corresponding fashion, but bulls will be so dispirited over the gratuitous hump on the charts that it will look like Everest in the days ahead. From a technical standpoint, we might expect the futures to ease lower, to at least 1233.70 over the near term. That target is easy to find on the daily chart using these coordinates: A=1347.80 on 9/22; B=1243.20; and C=1338.30.