Market Alert: Quick Update on Gold, Stocks, and the Potential for a Big Move.

It was another uneventful day in the PM complex, as the small blue trading range continues to build out after the breakout from the October 2024 triangle consolidation pattern. The last reversal point is always the hardest to spot in real-time, which isn't confirmed until the actual breakout. Yesterday's spike low could be the all-important 4th reversal point low.

Note how GLD gapped above the top rail of its rising channel/rising wedge with a breakout gap. This is extremely rare with an established channel like this, which could be suggesting a bigger move is coming.

Below is a new daily chart for gold in linear scale. What I've done on this chart is to double the bottom channel using the thin black rectangles on the left side of the chart, which measures the width of each channel.