Gold

*TACTICAL*** GLD Directional bullish play

Last week's breakout strongly argues for at least one more high to be seen (the more bearish alternative outlined in the Alt count). Trade was started in partial size because possibility of a deeper pullback, towards 1301, exists, and the shape of the rally off Friday's low made that possibility likely. If so, and assuming such wave c of (iv) happens during hours when options market is open, I will look to add the remaining portion on that deeper pullback. On the upside, there is a meaningful amount of resistance in 1328-1330 area, and I will likely only play for that zone, unless structure develops in a way that strongly suggests that this region will be broken. On the downside, it would take a move below 1293 to make it likely that gold broke down.