Next Week Is Huge for Gold Stocks

[Jeff Clark's Market Minute]( Next Week Is Huge for Gold Stocks Gold is stuck. The shiny yellow metal just can’t seem to make a clean break above the $1,300 level. Frankly, it really needs to get above $1,310 to kick off a new leg higher. Gold stocks are stuck, too. The VanEck Vectors Gold Miners Fund (GDX) has been chopping back and forth between $22.10 and $22.60 for the past month. Recommended Link [Confessions of a Billionaire Broker (And why he left Wall Street...)]( Teeka Tiwari’s confidential connection – known only as the “Billionaire Broker” – discovered a controversial stock selection system when he worked in an investment bank on Wall Street. In a nearly 3-decade historical trial, his system produced an average gain of 2,418% over the top 150 plays held since 1990. That’s enough to turn $100 in each play into over $360,000. The Billionaire Broker will reveal his identity – and how you can take advantage of his stock selection system – on June 14th. [Make sure you don’t miss it...]( - GDX attempted to break out of that range yesterday morning when it was trading as high as $22.70 in the pre-market… before it got smacked down and gave back all of Wednesday’s gains. But, man… I still like the look of the chart… Notice how all of the moving averages are coiling together. The 50-day [moving average (MA)]( 9-day [exponential moving average (EMA)]( and 20-day EMA are all sitting right at the $22.44 level – which is the current price of the stock. Energy is building right here as GDX approaches the apex of its consolidating triangle pattern (the red lines). There’s no way to tell for sure which direction GDX will break out of this pattern. All we can say with certainty is that once the pattern breaks, it should lead to a big move. I have a bullish bias when it comes to gold stocks. So, I’m more prone to look for signs of a bullish breakout. And if GDX does break out to the upside of this pattern, then it projects a move to $24.30 or so on the chart – which is just below the 2018 high from back in January. I don’t think it’s a coincidence that we’re getting this tight pattern right in front of next week’s Federal Open Market Committee (FOMC) announcement. Gold stocks tend to make large moves following announcements on interest rates. And the gold sector certainly looks like it’s gearing up for a big move. One way or another, I suspect we’ll see some volatile action in the gold sector next week. Best regards and good trading, Jeff Clark P.S. I really like how the Delta Report portfolio is set up for next week. The way conditions are – with tight, consolidating action ahead of a big catalyst – is rare. And it makes me excited to be a trader right here. In fact, the strategy we have in place generates some of my biggest wins. To learn more about this strategy, and a Delta Report subscription, [click right here](. Reader Mailbag Today in the mailbag, Delta Report readers get excited about this week’s trade recommendation… Looks like pretty good timing on the SPY recommendation so far. I'm in… ("Black Cat" alert.) – John Thanks for the timeliness of the SPY trade update regarding what price you’d look to sell! I had that very question nagging the back of my mind. – Clarissa Yesterday afternoon, Jeff wrote a poignant Delta Direct blog post in remembrance of D-Day entitled, “On this day 74 years ago.” (Subscribers can access it [here]( You responded… Great piece on D-Day. My father fought in WWII and I spend a lot of time watching the American History Channel learning and understanding the sacrifice of many. God bless and thank you. – Marc God bless you for your thoughts here. It is so refreshing to see someone like you remember the important things in life and this is certainly one of them. Thanks for being you, never change please. – Terry Thank you for sharing your personal story of your visit to Normandy. We are so quick to take for granted the freedoms and luxuries we have today, but freedom isn’t free and so many gave selflessly of their lives that June day in 1944 and in so many other battles. God bless their souls and families. Thank you for reminding us what really matters. – Charlie I was touched by your tribute to the American soldiers who died on D-Day, and your reference to the current sad state of affairs in the USA. Society has changed a lot in the last 74 years. What we once worked for and appreciated, we now want for free (or on credit). That which we once respected, we now revile. Where we once took responsibility for ourselves and thought nothing of it, we now blame others and lash out in rage at them. It is indeed sad that we are so focused on railing and raging at our perceived symptoms of decay in the social and economic fabric that we can't see that “fixing” them brings no relief. The search needs to be much bigger and deeper than that. P.S. I am appreciating your analyses and the service altogether! – Eric As always, thank you for your thoughtful letters, questions, and suggestions. They're a pleasure to read, each and every day. Keep them coming [right here](mailto:feedback@jeffclarktrader.com). Up for a Challenge? One unnamed trader, known as the "Manhattan Whale Hunter," is issuing a challenge for those willing to take it: Earn $250,000, without touching cryptos or any other hyped-up asset, this year. You won't go it alone… He's willing to prepare you for the challenge, starting today. [What are you waiting for?]( [image]( This email was sent to {EMAIL} as part of your free subscription to Jeff Clark's Market Minute. [Click Here]( to change your delivery preferences or unsubscribe. © 2018 Jeff Clark Trader, 455 NE 5th Ave, Suite D286, Delray Beach, FL 33483, USA. All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from the publisher. Information contained herein is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. It is not designed to meet your personal situation – we are not financial advisors nor do we give personalized advice. The opinions expressed herein are those of the publisher and are subject to change without notice. It may become outdated and there is no obligation to update any such information. Recommendations in Jeff Clark Trader publications should be made only after consulting with your advisor and only after reviewing the prospectus or financial statements of the company in question. You shouldn't make any decision based solely on what you read here. Jeff Clark Trader writers and publications do not take compensation in any form for covering those securities or commodities. Jeff Clark Trader expressly forbids its writers from owning or having an interest in any security that they recommend to their readers. Furthermore, all other employees and agents of Jeff Clark Trader and its affiliate companies must wait 24 hours before following an initial recommendation published on the Internet, or 72 hours after a printed publication is mailed.