All Signs Point to a Rally

The gold sector can resume its rally now that the Federal Open Market Committee (FOMC or "the Fed”) meeting is out of the way. [Jeff Clark's Market Minute]( All Signs Point to a Rally By Jeff Clark, editor, Market Minute The gold sector can resume its rally now that the Federal Open Market Committee (FOMC or "the Fed”) meeting is out of the way. For whatever reasons, justified or not, gold stocks tend to behave poorly going into a Fed meeting. Gold stock traders tend to be a bit paranoid under normal circumstances. That paranoia gets supercharged when facing a potential move by the world’s most powerful Central Bank. This leads traders to back away from the sector in the days leading up to a meeting. But those traders come rushing back when the Fed doesn’t do anything. Recommended Link [MUST-SEE Footage of Elon Musk’s New AI Project]( [image]( I recently traveled more than 3,000 miles and [shot this video outside what could end up being Elon Musk’s biggest secret.]( Most people don’t know about this facility, but it could be the most important AI project in the world. What’s happening inside these walls is so important that our government has declared it a matter of national security. It will definitely impact you and your family… And it could make a lot of people rich in the process. [Click here to see the details.]( -- That’s the setup we’re looking at right now: The Fed didn’t do anything on Wednesday. All the signs are pointing to a rally… We’re entering a seasonally bullish time of the year for gold stocks. The bullish percent index for the gold sector has triggered a [buy signal](. And the Fed is on the sidelines at least until its next meeting on December 13, maybe longer. Right now, the technical condition for the gold sector is showing a potentially bullish pattern. Look at this chart of the gold bugs index (HUI)… [(Click here to expand image)]( This chart is forming the right shoulder of an inverted head and shoulders pattern. This bullish pattern indicates the reversal of a trend from bearish to bullish. The “neckline” of the pattern is at $230. It’s going to take a breakout above that level to confirm a new bullish trend. Once that happens, though, it should be a relatively straight shot up toward resistance at $260. This lines up with the previous support level from back in April. That breakout would be a 20% rally from Wednesday’s closing price. And it could happen before the next FOMC meeting on December 13. That might seem like an outrageous and unlikely move. But look at the chart again and notice what happened last year at about this same time. The HUI rallied from $180 at the start of November to $238 at the start of December. That’s a 32% gain in just one month! Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. The bullish conditions for gold we looked at earlier this week are still in place. And now, with the FOMC meeting out of the way, gold stocks can resume their rally. The sector could be sharply higher just one month from now. Best regards and good trading, [Signature] Jeff Clark READER MAILBAG What are your feelings on gold stocks right now? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. IN CASE YOU MISSED IT… [Is this the end of ChatGPT?]( The launch of ChatGPT kicked off a historic artificial intelligence (AI) boom. But now, a $200 trillion AI emergency could derail everything. Sam Altman – the man behind ChatGPT – admitted it’s crippling his entire business. Some experts even predict the company could go bankrupt. If you have any money invested in tech stocks right now… You need to see this new video that reveals the shocking truth about this $200 trillion AI emergency. [Watch it here before it gets removed.]( [image]( [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Jeff Clark Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-800-752-0820, Mon–Fri, 9am–7pm ET, or email us [here](mailto:contactus@jeffclarktrader.com). © 2023 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. [Privacy Policy]( | [Terms of Use](