Buyers were repelled today by the 1263.80 ‘secondary’ pivot shown, failing badly in their attempt to achieve the 1269.80 rally target that had  looked so promising at Monday’s close. The chart will likely have something to say about ‘Matt’s curse,’ whereby a stall exactly at the secondary pivot usually proves fatal to the minor trend. In this case, according to Matt, a regular in the Rick’s Picks chat room who trades mostly silver, it would imply more slippage to beneath the 1245.70 point ‘C’ low. That wouldn’t kill the larger uptrend that has been in progress since May 9, but it would certainly dampen bullish spirits for the time being. For now we’ll move to the sidelines, since the only opportunity that seems imminent would be a scalp-short overnight. _______ UPDATE (May 24, 6:03 p.m. ET): The futures rallied from a shallow hole today (click here for chart), seeming to dodge ‘Matt’s curse’ for the time being.  The rally is potentially tradable via ‘camouflage’, but you’ll need to zoom down to the 5-minute chart to find ‘external’ peaks suitable for this approach. _______ UPDATE (May 26, 12:58 a.m.): The June contract will need to pop above 1269.70, an ‘external’ peak recorded on May 1, to get out of  pussyfooting mode. Not that gold looks bad at the moment, but we should demand something more of it before we shift our attention in earnest to the 1311.70 target broached here earlier.