Chad Shoop here. And if you’ve been following the markets for a while, you know I’m always on the hunt for those moments when something big is about to happen.
The kind of setup that doesn’t scream for attention yet… but when it breaks loose, everyone suddenly wishes they were already in.
Right now, that’s what I see shaping up in gold.
And after you see this chart, you’ll be in 100% agreement with me, that something big is coming.
Take a look:
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That’s GLD (the gold ETF), and what you’re looking at is months of price action coiling tighter and tighter inside a massive triangle.
You know what they say, the longer the consolidation, the bigger the breakout.
This one goes back to April, roughly 4 months of consolidating in one of the most widely traded commodities and store of value on the planet. What comes next is going to be massive.
Think of it like a spring being wound up — every bounce builds more energy. Eventually, that spring is going to snap, and the move that follows will be fast and powerful – BOOM!
Now here’s where it gets even more interesting…
How I Spot These Setups
Most traders flip through chart after chart, trying to guess which one looks the strongest. I like to zoom out and look at the big picture first.
That’s where Relative Rotation Graphs (RRG) come in.
If you’re new to them, here’s the simple version: an RRG shows how different assets are moving in relation to each other and a benchmark. Instead of staring at one chart at a time, you can see the whole playing field — who’s leading, who’s weakening, who’s improving, and who’s lagging.
Here’s the latest snapshot of the broad markets:
This is tracking a broad basket of assets, covering the S&P 500 (SPY), Nasdaq 100 (QQQ), Russell 2000 Small Cap Index (IWM), Bitcoin (BTCUSD), silver (SLV), gold (GLD) and oil (OILBR).
At the center of it all, grounding the chart with a very broad index, the Dow Jones Global Index.
Taking things at a relative perspective here, we can then understand the rotations taking place and look for the moves that stand out.
See where GLD is? Down in the Lagging quadrant. Most people glance at that and shrug it off. Even the creator of the RRG views assets this way.
But, after years of testing and trading on the RRG, I can attest that is a huge mistake.
Because the real money is made when something rotates, going from Lagging → Improving → Leading.
That’s exactly the setup I see forming here.
What to do Next
This is why I created my new Bank It or Tank It ELITE Monthly Service.
Every month, I walk my readers through the RRG landscape, highlight these setups, and show exactly where the opportunities lie.
GLD is shaping up to be one of those trades.
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To profits,
Chad Shoop, CMT