{"id":28190,"date":"2026-08-06T07:30:00","date_gmt":"2026-08-06T11:30:00","guid":{"rendered":"https:\/\/jeffclarktrader.com\/market-minute\/?p=28190"},"modified":"2026-08-05T12:20:57","modified_gmt":"2026-08-05T16:20:57","slug":"gold-is-looking-at-an-upside-breakout","status":"publish","type":"post","link":"https:\/\/jeffclarktrader.com\/market-minute\/gold-is-looking-at-an-upside-breakout\/","title":{"rendered":"Gold Is Looking at an Upside Breakout"},"content":{"rendered":"
\n

Managing Editor’s Note:<\/strong> Today, we’re hearing from our contributing editor Mike Burnick in his weekly feature.<\/p>\n

Mike has over 30 years in the investment and financial services industry – from operating as a stockbroker, trader, and research analyst, to running a mutual fund as a registered investment advisor and portfolio manager, to being Research Director for the Sovereign Society, specializing in global ETF and options investing.<\/p>\n

 And he’s been senior analyst at TradeSmith for three years, running Constant Cash Flow, Infinite Income Loop, and Inside TradeSmith.<\/p>\n

Here’s Mike…<\/p>\n<\/div>\n

Gold Is Looking at an Upside Breakout<\/h2>\n

BY MIKE BURNICK, CONTRIBUTING EDITOR, MARKET MINUTE <\/em><\/strong><\/p>\n

Last week<\/a> I told you to watch a few key technical indicators for the Nasdaq 100 (NDX), because they were strongly hinting at an upside reversal.<\/p>\n

Sure enough, NDX broke higher last Thursday, and jumped 9% in just four days. Now these same indicators are flashing a bullish signal for gold mining stocks.<\/p>\n

Let’s take a closer look at a TradeSmith chart of the Gold Miners ETF (GDX).<\/p>\n\n

\"\"<\/figure>\n\n

Similar to the Nasdaq 100, GDX telegraphed its upside move beforehand. Notice the Commodity Channel Index (CCI) bottomed way back in June.<\/p>\n

CCI has been in an uptrend ever since, even as GDX kept declining, which is a classic bullish divergence. This tells you to be on the lookout for a possible bullish trend reversal.<\/p>\n

In the last few days, the MACD indicator likewise turned positive, signaling renewed upside momentum for GDX.<\/p>\n

Finally, GDX broke above our TradeSmith Reactive moving average, which adjusts quickly to the latest price movements. We designed this unique moving average to give you an early signal confirming a new short-term uptrend.<\/p>\n

TradeSmith subscribers can click the green Chart Settings<\/em> button at left on our platforms Chart<\/em> page to add many other technical indicators like these.<\/p>\n

Bottom line<\/em><\/strong>: Considering the extended decline in GDX since March, this breakout move could easily carry the ETF up to $90-$95 for a potential gain of 15% to 20% or more!<\/p>\n

Good investing,<\/p>\n

\"Signature\"<\/p>\n

Mike Burnick
\nContributing Editor, Market Minute<\/em><\/p> ","protected":false},"excerpt":{"rendered":"

These indicators are flashing a bullish signal for gold mining stocks.<\/p>\n","protected":false},"author":2762,"featured_media":0,"comment_status":"closed","ping_status":"0","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"service":"","footnotes":""},"categories":[1],"tags":[],"publication":[10],"person":[155],"newsletter-type":[],"ticker":[],"class_list":["post-28190","post","type-post","status-publish","format-standard","hentry","category-market-minute","publication-market-minute","person-mike-burnick"],"acf":[],"ai_tts_audio_outdated":false,"ai_tts_content_changed_at":"","ai_tts_content_changed_during_generation":false,"ai_tts_legacy_post":false,"_links":{"self":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/28190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/users\/2762"}],"replies":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/comments?post=28190"}],"version-history":[{"count":2,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/28190\/revisions"}],"predecessor-version":[{"id":28199,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/28190\/revisions\/28199"}],"wp:attachment":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/media?parent=28190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/categories?post=28190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/tags?post=28190"},{"taxonomy":"publication","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/publication?post=28190"},{"taxonomy":"person","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/person?post=28190"},{"taxonomy":"newsletter-type","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/newsletter-type?post=28190"},{"taxonomy":"ticker","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/ticker?post=28190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}