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Yesterday, Bitcoin fell again and after the close NVDA reported earnings and dumped on profit taking. It fell over 8%, but is now trading down before the open about 2%.

Hopefully it will turn around today, we have interest rates cuts coming, but I want to show you the chart of DUK again because it looks like it is going to breakout.

It’s a leading stock in what has been a top sector on the market rally.

It’s 20-day Bollinger Bollinger bands are coming together, causing their width indicator on the bottom of the above chart to fall below 3.

The bands narrow as a consolidation period plays out in a stock.

It happens during a sideways trading range and the bands expand when a stock trends again.

Bands this narrow means DUK is setup to breakout of this sideways phase and make a move very soon.

I mentioned it the other day, but NO ONE is talking about it.

All I see this morning are stories about NVDA price moves and crypto hype.

These are not the only things that trade in the markets.

Utility stocks go up and down too!

And everyone uses electricity, while no one uses Bitcoin as money.

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And…..

How is this gold rally likely to play out for the rest of this year?

In case you missed it, I talked about that question this week in an Inside WallStreetWindow Podcast with Jordan Roy-Byrne of thedailygold.com.

You can find the podcast on Spotify.

It’s also mirrored on Youtube, although they do not push it out at all, in a video you can find here.

-Mike

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