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October 27, 2024

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In the fast-paced world of trading, success often hinges on screening for the best ideas in real-time to find trading opportunities. At OptionsPlay, we are committed to providing our users with the latest cutting-edge tools to automate the manual process of researching options trades. This is why we are thrilled to announce a groundbreaking partnership with StockCharts.com, a leader in technical analysis, charting, and screening.

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The over-deviated markets continued to extend their losses for the fourth week in a row. The Nifty remained largely under sustained selling pressure over the past five days, barring a few feeble attempts to stage a technical rebound. The markets extended their downsides while giving up key supports on the daily charts. The trading range widened again; the Nifty oscillated in a wider 904-point range before ending with a decent cut. The volatility also spiked; the India Vix surged by another 12.23% to 14.63 on a weekly basis. Following a largely bearish setup throughout the week, the headline index closed with a net weekly loss of 673.25 points (-2.71%).

The coming week is a truncated one; Friday is not a trading holiday but it will just have a very short, one-hour ceremonial Mahurut Session. Overall, the volumes are expected to remain low given the festive season.  The Nifty has violated the 100-DMA on the daily chart which stands at 24591. It has already given up the 20-week MA which is placed at 24702. Given these adverse technical developments, the Nifty has dragged its resistance levels much lower to 24500-24700 zones. Any technical rebounds will find resistance here. In other words, so long as the markets trade below this zone, all rebounds are more likely to get sold into.

The coming week may see a tepid start; the levels of 24450 and 24650 are likely to act as resistance levels. The supports are expected to come in at 23950 and 23700. The trading range is likely to stay wider than usual.

The weekly RSI stands at 49.95. It has formed a fresh 14-period low; however, it stays neutral and does not show any divergence against the price. The weekly MACD is bearish and trades below the signal line.

The pattern analysis shows the high point of 26277, which is confirmed as an intermediate top for the markets. The decline has also seen Nifty breaching pattern support at 24750 levels. This pattern support is in the form of a rising trend line which begins at 22124 and extends itself. The 20-week MA and the 100-day MA also stand violated meaningfully on a closing basis. The resistance levels have been dragged lower; all technical rebounds will find resistance in the 24500-24700 zone from a short to medium-term perspective.

The markets have entered a technical setup that is likely to create a challenging environment. The risk-off setup is evident; it would be imperative to stay invested in stocks that have strong relative strength against the broader markets. Such investments shall offer greater resilience if the weakness in the markets persists for a longer time. While staying highly selective, a cautious approach is advised for the coming week.


Sector Analysis for the coming week

In our look at Relative Rotation Graphs®, we compared various sectors against CNX500 (NIFTY 500 Index), which represents over 95% of the free float market cap of all the stocks listed.

Relative Rotation Graphs (RRG) continue to show a few pockets of resilience building up in the markets. The Nifty Services Sector, Pharma, Consumption, and IT indices are inside the leading quadrant. They may continue relatively outperforming the broader markets.

The Nifty FMCG index has rolled inside the weakening quadrant. Besides this, the Midcap 100 index is also indie the weakening quadrant.

The Nifty Auto and Media Indices have rolled inside the lagging quadrant. This group is likely to relatively underperform along with the Energy, PSE, and Energy. The Infrastructure,  Commodities, PSU Bank, and Realty Indices are also inside the weakening quadrant. However, they are seen improving their relative momentum against the broader markets.

The Nifty Bank, Metal, and Financial Services indices are inside the improving quadrant; they are likely to improve their relative performance against the broader markets.


Important Note: RRG charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.  


Milan Vaishnav, CMT, MSTA

Consulting Technical Analyst

www.EquityResearch.asia | www.ChartWizard.ae

There are no magic bullets, but we can improve our trading edge by starting our selection process with two proven concepts: trend and momentum. These are perhaps the two most powerful forces in the market. The idea is relatively simple: stay on the right side of the trend and focus on the leaders. This is basically dual-momentum. Starting our process with these two steps will increase the odds of success. We will first choose the timeframe and then select two indicators.

When it comes to trend-momentum strategies, my research suggests that longer timeframes work better than shorter timeframes. This means 200 days works better than 50 days. Short timeframes, such as 20 and 50 days, are better suited for mean-reversion strategies, which trade pullbacks within uptrends. 200 days covers around nine months. This is long enough to absorb a 2-3 month correction and short enough to allow for extended trends.

Next, we need a trend-following indicator. While there are dozens of options out there, a simple 200-day SMA works quite well for long-term trend identification. The idea is to filter out stocks that are in downtrends and only focus on stocks in uptrends (above their 200-day SMAs). Negative outcomes are more likely when below the 200-day SMA and positive outcomes are more likely when above. It is as simple, and effective, as that. 

The chart above shows META with the 50 and 200 day SMAs. In the indicator windows, we can see the Percent above MA indicators, which show the distance between the close and the moving average. META broke the 50-day SMA several times, but none of these breaks resulted in a trend reversal. These breaks simply marked tradable pullbacks within the bigger uptrend. It would have been more profitable to accumulate on breaks of the 50-day as the stock held the 200-day and extended higher.  

After filtering for stocks in uptrends, we then need a momentum indicator to quantify performance. Here again we have dozens of choices. Rate-of-Change is the purest momentum measure and also works quite well. As with the SMA, I will use the 200-day Rate-of-Change to capture long-term performance. We can then rank stocks and focus on those with the strongest momentum.

The CandleGlance charts above show the top performing S&P 500 stocks. I created a ChartList with S&P 500 stocks, viewed the list as CandleGlance and sorted by the ROC(200). This puts the top performing stocks at the top and I can then scroll through this list to create a short-list for further analysis.

This coming week at TrendInvestorPro we are introducing two new rotation strategies using variations of these concepts. These strategies are fully systematic and trade once per week. They are aimed at investors because they trade less frequently than our rotation trader strategies. Note that our S&P 500 rotation trader strategy is up 38 % in 2024. The image below shows the equity curve for this strategy (green line) and buy-and-hold for the S&P 500 (black line). This strategy is up more than 3 times buy-and-hold and the drawdowns are much lower because of the market regime filter. Click here to learn more.

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Click here to learn more and get two bonus reports.

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Overview

The Athabasca Basin in Saskatchewan presents exceptional discovery and exploration opportunities for companies looking to enter the thriving uranium market. Uranium is poised for significant growth and the expected deficit in the supply side will create opportunities in the market. With new reactors continually coming online to meet demand and a limited number of suppliers to fill it, looking to high-value mining jurisdictions for uranium is one of the best strategies for companies trying to get ahead of the crowd.

With strong backing from industry leaders, Purepoint is set to advance its key projects while keeping shareholder dilution to a minimum.

Exposure to district-scale uranium exploration in the Athabasca BasinReduced financial risk through strategic partnershipsOperational control of exploration activitiesAligned with renewed interest in uranium exploration from major producers

Company Highlights

Through a robust and proactive exploration strategy, Purepoint is solidifying its position as a leading explorer in one of the globe’s most significant uranium districts.

Key Projects

Hook Lake Project

The Hook Lake property is located within the Patterson Uranium district and has nine claims totalling 28,598 hectares. The project is jointly owned by Cameco, Orano Canada and Purepoint Uranium. Operated by Purepoint since 2007, the project has seen significant discoveries and exploration campaigns.

Highlights of discovery on the property include the Spitfire high-grade discovery which revealed 53.3 percent uranium oxide over 1.3 meters, including a 10-meter interval of 10.3 percent uranium mineralization measurements. Three prospective structural “corridors” have been defined on the property, each consisting of multiple electromagnetic (EM) conductors confirmed by drilling.

In 2024, Purepoint completed 2,332 metres of drilling in four holes to test the success of the previous 2023 drill program that uncovered a significant 35-metre-wide boron halo surrounding a 0.08 percent U3O8 uranium intercept over 0.4 metres at hole CRT23-05. Boron is a key pathfinder element for uranium deposits. The 2024 drill program ended with the discovery of the newly identified Lightning Zone in the Carter Corridor, returning 0.9 metres of 0.29 percent U3O8 including 0.3 metres of 0.68 percent U3O8. associated with a major structure intersected by hole CRT24-10.

All the 2024 drill holes were collared northeast of CRT23-05, drilled in 2023, that intersected 0.08 percent U3O8 over 0.4 metres within a 15 metre wide graphitic shear zone with local brecciation and intense clay alteration.

All 2024 drill holes encountered elevated radioactivity.

Smart Lake Project

Purepoint, as operator, holds a 27-percent ownership of the Smart Lake project in joint venture with Cameco Corp.

The Smart Lake property includes two claims with a total area of 9,860 hectares situated in the southwestern portion of the Athabasca Basin, approximately 60 km south of the former Cluff Lake mine and 18 kilometers west-northwest of Purepoint’s Hook Lake JV project.

Depth to the unconformity, where it occurs, is relatively shallow at less than 350 meters.

Aeromagnetic and electromagnetic patterns at Smart Lake reflect an extension of the patterns underlying the Shea Creek deposits (indicated resource of 68 million lbs at 1.50 percent U3O8; UEC PR Jan 2023) 55 kilometers north of the property. Exploration by Purepoint has firmly established the presence of anomalous uranium and hydrothermal alteration. Numerous priority target areas, where EM conductors are cross-cut by east-west structures, are yet to be drill-tested.

Like the Kianna fault at Shea Creek, known uranium mineralization at the Smart Lake project is associated with the intersection of the east-west Arthur Fault and north-south-striking fluid/chemical traps including the Shearwater conductor and chloritized mafic orthogneiss. The occurrence of low-grade uranium mineralization along the Arthur Fault away from Shearwater conductor underscores the need to target east-west structures both at the intersection with conductive anomalies and magnetically interpreted lithological contacts.

Additional east-west striking faults (Groomes Lake and Cristobal) have been interpreted from examination of airborne magnetic and electromagnetic surveys. These faults are spatially related to strong EM conductors identified in both airborne and ground-based geophysical surveys.

Purepoint plans to conduct stepwise moving loop and fixed loop transient EM surveys at the Smart Lake JV project. Survey results from the northern Groomes Lake conductor will be used to define discrete targets for the next step drilling.

Purepoint & IsoEnergy Joint Venture

Purepoint Uranium has formed a 50-50 joint venture with IsoEnergy, combining 10 uranium exploration projects in Saskatchewan’s Athabasca Basin. Purepoint will be the operator for exploration activities, while IsoEnergy will take over if a resource is identified.

This strategic move not only validates Purepoint’s assets but also positions the company to advance its most promising projects with reduced financial risk.

Joint Venture Portfolio The Joint Venture will be comprised of 10 projects within the eastern Athabasca Basin (Figure 1) including: IsoEnergy’s Geiger, Thorburn Lake, Full Moon, Edge, Collins Bay Extension, North Thorburn, 2Z Lake, and Madison Projects.Purepoint’s Turnor Lake and Red Willow Projects.Complementary and Prospective Ground Covering the Larocque Trend with Strong Discovery Potential The Larocque Trend (“Larocque Trend”), is an important regional structure that hosts the world-class Hurricane deposit and other notable high-grade occurrences, including those on Cameco/Orano’s Dawn Lake joint venture. The trend extends onto the Turnor Lake and Full Moon Projects, positioning the Joint Venture along a proven corridor for uranium mineralization, where further discoveries could be expedited (Figure 2).Strategic Synergy and Strengthened Positioning through Equity Participation IsoEnergy will subscribe for $1.0 million in concurrent equity financing of Purepoint.Through this equity stake, IsoEnergy will gain exposure to Purepoint’s other highly prospective exploration projects in the Athabasca Basin, including Hook Lake, which previously intersected an impressive 10 meters at 10.3% U₃O₈. In turn, Purepoint will benefit from IsoEnergy’s financial and technical support, enabling both companies to work collaboratively to accelerate project development and drive long-term success.Initial Ownership Structure and Operating Terms IsoEnergy will initially hold a 60% interest in the Joint Venture, while Purepoint will hold a 40% interest. Each party has the option to adjust this ownership to 50/50 within six months through the exercise of mutually exclusive put/call options.Purepoint will serve as the operator during the exploration phase of the Joint Venture properties. Upon the advancement into the pre-development phase, IsoEnergy will assume operational control of the Joint Venture properties.

Management Team

Chris Frostad – President and CEO

Chris Frostad is a founding partner bringing over 40 years of expertise to his position as president and CEO. He led public companies in both the technology and mining and metals industries.

Throughout his career, Frostad has been instrumental in building a variety of high-growth, early-stage, public and private companies.

Before Purepoint, he held numerous senior positions in the technology industry including CEO-in-residence of a Toronto-based venture capital firm. Frostad is a chartered accountant and a chartered professional accountant who began his career in international taxation with Deloitte.

Scott Frostad – VP of Exploration

Scott Frostad’s experience in the mining industry throughout Canada spans over three decades. He brings to his position as VP of exploration a background in mineral exploration with renowned mining companies such as Lac Minerals, Teck and Placer Dome. Most recently, he was the environmental specialist for Cogema Resources and managed environmental issues at both the Cluff Lake and McClean Lake Uranium Mines in Northern Saskatchewan.

Frostad is a graduate of Western University with a B.Sc. in geology and holds an M.A.Sc. in mining and mineral process engineering from the University of British Columbia. He is a member of the Association of Professional Engineers and Geoscientists of British Columbia and the Association of Professional Engineers and Geoscientists of Saskatchewan.

Ram Ramachandran – CFO

Before his position as CFO with Purepoint, Ram Ramachandran brings an 11-year tenure as deputy director and associate chief accountant with the Ontario Securities Commission. Most recently, Ramachandran provided advisory services in the area of litigation/compliance to numerous companies. To his credit, Ramachandran conceived, developed and launched the Canadian Securities Reporting Advisor – an online compliance tool for public companies.

Jeanny So – Corporate Communications

Jeanny So has over 20 years of experience in operations, investor relations, sales and marketing in the financial industry and has executed corporate communication programs for several private and publicly-listed companies.

This post appeared first on investingnews.com

Georgia’s most powerful man claimed victory in an election on Saturday but the opposition called on the ruling party to admit defeat, setting the stage for a confrontation over the future of the South Caucasus country.

Georgian Dream’s billionaire founder Bidzina Ivanishvili, the opposition, and foreign diplomats had cast the election as a watershed moment that would decide if Georgia moves closer to the West or leans back towards Russia amid the war in Ukraine.

Early official results with 70% of precincts counted, showed the ruling party had won 53% of the vote, the electoral commission said, but the deeply divided pro-Western opposition parties said that they had collectively clinched a majority.

Rival exit polls gave sharply different projections for the election. The Georgian Dream-supporting Imedi TV channel showed the ruling party winning 56%. Exit polls by the pro-opposition channels showed major gains for the opposition parties.

Ivanishvili, the ruling party’s reclusive billionaire founder and onetime prime minister, claimed victory and praised the Georgian people. But the opposition also celebrated victory and said Ivanishvili should concede.

Tina Bokuchava, leader of the United National Movement party of former President Mikheil Saakashvili, told Reuters that the opposition had won by a good margin of 10%.

“Against that backdrop most people will be taking Bidzina Ivanishvili’s claims of a government majority with a large bucket of salt,” Bokuchava said.

“We believe the Georgian public has voted clearly for a future at the heart of Europe and no amount of posturing will change that.”

Crucial vote

Georgian President Salome Zourabichvili – a one-time ally of the ruling party turned fierce critic whose powers are mostly ceremonial – and independent domestic election monitors had alleged Georgian Dream was engaged in widespread vote-buying and other forms of electoral abuse in the lead-up to the vote.

Georgian Dream did not immediately respond to a request for comment. Ivanishvili, who made his fortune in Russia in the 1990s, came to power in 2012 advocating pro-Western views, alongside a pragmatic policy towards Russia.

He has since soured on the West, accusing a “Global War Party” of seeking to drag Georgia into war with Russia, even as he insists Georgia is on course to join the EU.

Some Georgians told Reuters that they wanted change.

“I voted for freedom and for the European choice,” said voter Irakli Andronikashvili in Tbilisi on Saturday, adding that he wanted a government which was “more progressive, less corrupt and more common-sense.”

Georgia was once one of the most pro-Western states to emerge from the chaotic aftermath of the Soviet Union’s collapse. The road leading from Tbilisi’s airport is named after former US President George W. Bush.

Since Russia’s invasion of Ukraine in February 2022, Tbilisi’s relations with the West have taken a sharp downward turn. Unlike many Western allies, Georgia declined to impose sanctions on Moscow, while Georgian Dream’s rhetoric has become increasingly pro-Russian.

Georgian Dream has drawn the ire of its Western allies for what they cast as its increasingly authoritarian bent. Hungarian Prime Minister Viktor Orban congratulated Georgian Dream for an “overwhelming victory.”

The pro-opposition Formula exit poll said that the ruling party would be the single largest party but that the four main opposition parties combined would have 83 seats.

Georgia’s four main opposition blocs are deeply divided, and it is unclear if they will be able to work together if they deprive Georgian Dream of its majority.

Sandro Dvalishvili, a 23-year-old Georgian Dream activist, told Reuters last week that Georgia would face “danger” if his party of choice was defeated at the polls.

“If it turns out that we don’t win, for me that’ll be very bad. Because I don’t see another force that will bring peace and stability to our country,” he said.

This post appeared first on cnn.com

The number of dead and missing in massive flooding and landslides wrought by Tropical Storm Trami in the Philippines has reached nearly 130 and the president said Saturday that many areas remained isolated with people in need of rescue.

Trami blew away from the northwestern Philippines on Friday, leaving at least 85 people dead and 41 others missing in in one of the Southeast Asian archipelago’s deadliest and most destructive storms so far this year, the government’s disaster-response agency said. The death toll was expected to rise as reports come in from previously isolated areas.

Dozens of police, firefighters and other emergency personnel, backed by three backhoes and sniffer dogs, dug up one of the last two missing villagers in the lakeside town of Talisay in Batangas province Saturday.

A father, who was waiting for word on his missing 14-year-old daughter, wept as rescuers placed the remains in a black body bag. Distraught, he followed police officers, who carried the body bag down a mud-strewn village alley to a police van when one weeping resident approaching him to express her sympathies.

The man said he was sure it was his daughter, but authorities needed to do checks to confirm the identity of the villager dug up in the mound.

In a nearby basketball gym at the town center, more than a dozen white coffins were laid side by side, bearing the remains of those found in the heaps of mud, boulders and trees that cascaded Thursday afternoon down the steep slope of a wooded ridge in Talisay’s Sampaloc village.

President Ferdinand Marcos, who inspected another hard-hit region southeast of Manila Saturday, said the unusually large volume of rainfall dumped by the storm — including in some areas that saw one to two months’ worth of rainfall in just 24 hours — overwhelmed flood controls in provinces lashed by Trami.

“The water was just too much,” Marcos told reporters.

“We’re not done yet with our rescue work,” he said. “Our problem here, there are still many areas that remained flooded and could not be accessed even big trucks.”

His administration, Marcos said, would plan to start work on a major flood control project that can meet the unprecedented threats posed by climate change.

More than 5 million people were in the path of the storm, including nearly half a million who mostly fled to more than 6,300 emergency shelters in several provinces, the government agency said.

In an emergency Cabinet meeting, Marcos raised concerns over reports by government forecasters that the storm — the 11th to hit the Philippines this year — could make a U-turn next week as it is pushed back by high-pressure winds in the South China Sea.

The storm was forecast to batter Vietnam over the weekend if it would not veer off course.

The Philippine government shut down schools and government offices for the third day on Friday to keep millions of people safe on the main northern island of Luzon. Inter-island ferry services were also suspended, stranding thousands.

Weather has cleared in many areas on Saturday, allowing cleanup work in most areas.

Each year, about 20 storms and typhoons batter the Philippines, a Southeast Asian archipelago which lies between the Pacific Ocean and the South China Sea. In 2013, Typhoon Haiyan, one of the strongest recorded tropical cyclones, left more than 7,300 people dead or missing and flattened entire villages.

This post appeared first on cnn.com

Nineteen people died and six others were injured when a bus crashed on a highway in Mexico’s central state of Zacatecas on Saturday, local authorities said.

The accident occurred in the early morning hours when the bus carrying the victims collided with the back of a tractor-trailer carrying corn, which had come loose.

Zacatecas Governor David Monreal earlier on Saturday had initially reported a preliminary death toll of 24 people, but the state attorney general’s office later revised the tally in a statement.

The attorney general’s office said it was “carrying out investigations to arrest the driver” of the tractor-trailer.

Efforts were ongoing on Saturday morning to recover some of the bodies that had fallen into a ravine, a local government official who asked not to be named told Reuters.

Video footage showed rescue teams and security forces, including military personnel, securing the area while rescuers worked to recover the bodies.

The bus was headed for Ciudad Juarez, a city on the US-Mexico border in the state of Chihuahua. The victims did not include migrants, according to the attorney general’s office.

This post appeared first on cnn.com

Polls opened Sunday in Japan’s general election, in a test for new Prime Minister Shigeru Ishiba as he seeks voter support for his scandal-hit party just weeks after taking the role.

Ishiba, the former defense minister, called a snap election immediately after winning the leadership contest of his Liberal Democratic Party (LDP), a conservative political machine that has ruled Japan almost continuously since the party’s founding in 1955.

By calling an election, Ishiba, 67, is seeking a public mandate for the ruling LDP amid falling approval ratings and public anger over one of the country’s biggest political scandals in decades.

The funding scandal involved millions of dollars in undocumented political funds, and lawmakers allegedly lining their own pockets with kickbacks or failing to properly declare their income.

Former Prime Minister Fumio Kishida tried to contain the damage by replacing several cabinet ministers and dissolving LDP factions, essentially coalitions within the party. But he faced calls to resign and announced in August that he would not run for a second term.

His successor, Ishiba, also faces public discontent over increasing living costs, which have been exacerbated by the weak yen, a sluggish economy and high inflation.

The political veteran has pledged financial help to low-income households, a higher minimum wage, and regional revitalization, according to Reuters. He has also promised a “full exit” from Japan’s high inflation rates, vowing to achieve “growth in real wages.”

Ishiba has made strengthening Japan’s relations with the United States a priority and seeks deeper ties with allies amid growing security challenges in Asia, including an increasingly assertive China and belligerent North Korea.

Partnership with Japan has long been central to US strategy in the Asia-Pacific region, and Ishiba’s predecessor Kishida this year expanded Japan’s defense cooperation with its key ally. Ishiba has called for a more balanced relationship, including having greater oversight of US military bases in Japan, Reuters reports.

As defense minister, Ishiba was strong on deterrence as a security issue. He even proposed an Asian version of the NATO security bloc, an idea he has apparently dropped after it was rebuffed by the US.

Ishiba also supports legislation that could allow married women to keep their maiden names, and has said Japan should reduce its dependence on nuclear energy in favor of renewables.

In a political culture that prizes conformity, Ishiba has long been something of an outlier, willing to criticize and go against his own party. That willingness to speak out has made him powerful enemies within the LDP but endeared him to more grassroots members and the public.

He sits on the more progressive wing of the conservative party. His political acumen and experience in domestic and foreign policy likely allowed him to secure the top job.

Voters on Sunday will choose who fills the 465-seat House of Representatives, Japan’s lower house of parliament.

Parties are vying to win a majority of 233 seats, but there are several other significant tallies they can achieve.

A so-called “absolute stable majority” of 261 seats means the winning party or coalition has a committee chair in all of the standing committees plus a majority of committee members. This enables smoother governance and policy-making for the ruling party.

Winning 244 seats would mean the party has the same number of committee members as the opposition.

The number of seats needed for a two-thirds majority to propose constitutional amendments is 310.

Ishiba’s LDP and the New Komeito Party have again agreed to form a coalition and, before parliament was dissolved ahead of Sunday’s election, the two parties controlled the chamber with a 279-seat majority.

This post appeared first on cnn.com

In the early hours of Thursday, March 23, 2023, residents in the German town of Kronberg were woken from their sleep by several explosions.

Criminals had blown up an ATM located below a block of flats in the town center.

The attack caused severe damage to the building and forced the evacuation of its inhabitants. According to local media reports, witnesses saw people dressed in dark clothing fleeing in a black car towards a nearby highway.

During the heist, thieves stole 130,000 euros in cash. They also caused an estimated half a million euros worth of collateral damage, according to a report by Germany’s Federal Criminal Police Office, BKA.

Rather than staging dramatic and risky bank robberies, criminal groups in Europe have been targeting ATMs as an easier and more low-key target.

In Germany – Europe’s largest economy – thieves have been blowing up ATMs at a rate of more than one per day in recent years. In a country where cash is still a prevalent payment method, the thefts can prove incredibly lucrative, with criminals pocketing hundreds of thousands of euros in one attack.

Europol has been cracking down on the robberies, carrying out large cross-border operations aimed at taking down the highly-organized criminal gangs behind them.

Earlier this month, authorities from Germany, France and the Netherlands arrested three members of a criminal network who have been carrying out attacks on cash machines using explosives, Europol said in a statement.

Since 2022, the detainees are believed to have looted millions of euros and run up a similar amount in property damage, from 2022 to 2024, Europol said.

The criminal network used locations in France as “hideaway spots” and relied on getaway cars hired from a French rental company, according to the statement.

The arrests came as part of a wider operation by German, French and Dutch investigators, which also saw law enforcement search car rental companies whose vehicles had been used to flee crime scenes, in an “action day” across locations in the three countries.

Europol says that perpetrators have mostly been using solid explosives, mainly derived from fireworks, to explode the cash-filled machines – a dangerous tactic that results in heavy damage. In 2023, the lootings in Germany caused 28.4 million euros worth of secondary damage alone, according to BKA.

Often based in the Netherlands, the gangs “take extreme risks and act unscrupulously,” Europol says, both during the robberies themselves and the ensuing escapes in high-powered vehicles.

The chosen ATMs are often in quieter, residential areas – making them easier targets. According to Europol, this means that they pose a serious harm to buildings and residents. The attacks can crumble building facades and scatter shards of glass.

In some cases, they can even prove fatal.

On November 11, an ATM robbery in the town of Wiernsheim in the German state of Baden Württemberg ended in disaster. After stealing 40,000 euros in cash, a criminal trio from the Netherlands attempted a high-speed getaway in a VW Golf with stolen license plates, according to local media reports. Pursued by police, they drove the wrong way down Germany’s A6 motorway.

Two of the three criminals were caught at a rest stop, but the 30-year-old Dutch driver escaped and continued to drive against the traffic at speeds of up to 200 kilometers per hour, until colliding head-on with a van.

The driver and passenger in the truck were both severely injured, with the passenger dying in hospital days later. The driver, who was also heavily injured, was arrested and later sentenced to life in prison.

A rising crime

Germany has become Europe’s prime target for ATM bombings. And with its penchant for cash payments, it’s not hard to see why.

The country has more than 51,000 ATMs. In comparison, the Netherlands has around 5,000. The majority of Germany’s 83.3 million citizens have to travel no further than one kilometer to reach their nearest ATM, according to the central bank, Bundesbank.

Unlike its European neighbors, who largely transitioned away from cash payments due to the Covid-19 pandemic, cash still plays a significant role in Germany. One half of all transactions in 2023 were made using banknotes and coins, according to Bundesbank.

Germans have a cultural attachment to cash, traditionally viewing it as a safe method of payment. Some say it allows a greater level of privacy, and gives them more control over their expenses.

A 2016 study by the Bundesbank found that cash is particularly prevalent among older generations of Germans, meaning lingering memories of the country’s turbulent recent history could play a role in Germany’s reluctance to go digital.

“Neither digitalisation nor the pandemic have been able to oust cash. When it comes to making payments, cash is still by far the most popular means in Germany,” Bundesbank’s Johannes Beermann said in a post-pandemic press release from 2022.

In terms of location, Germany is also an ideal target for cross-border crime: Neighboring the Netherlands and linked by motorways on some of which speed limits don’t apply. 

A decline in ATM machines in the Netherlands and the introduction of enhanced security measures to crack down on the crime – including the installation of glue protection systems that can render bank notes worthless – has also led Dutch criminals to look further afield, according to Reuters, citing Dutch police.

A 2023 BKA report notes that ATM robberies in Germany have been rising since 2005, although they dropped slightly from 2022 to 2023. Still, Germany counted a total of 461 such robberies in 2023 – the second-highest number since surveys began in 2005.

The report also found that, as with previous years, the number of thefts declined during the summer months in 2023 – when longer daylight hours provide a higher risk of being caught. The majority of the crimes took place on working weekdays, between 2 a.m. and 5 a.m., according to BKA.

“This extensive network has, in part, drawn organized criminal groups from abroad, seeing the density of ATMs and Germany’s demand for cash access as factors in their favor.”

German banks have invested over 300 million euros into enhanced security to tackle the issue, the spokesperson continued, including “alarm systems, ink staining solutions, reinforced locking mechanisms, and fogging technology.” However, certain techniques such as glueing systems to neutralize stolen cash are not currently permitted in Germany, the spokesperson added.

“These efforts, along with enhanced cooperation with police, have effectively reduced ATM attacks, with the Federal Criminal Police Office (BKA) reporting that 2024 figures are already ‘significantly below last year’s,’” the spokesperson said.

In July, the German government announced that ATM robberies would receive harsher punishment. Thieves must be sentenced to at least two years in prison, when the previous minimum sentence was one year. If the health of an uninvolved person or people is affected, perpetrators must receive prison time ranging from five to fifteen years, up from at least two years previously.

“Anyone who blows up ATMs risks the lives of uninvolved people,” Interior Minister Nancy Faeser said.

“We are dealing here with unscrupulous perpetrators and highly dangerous explosives. These acts must therefore be punished more severely.”

This post appeared first on cnn.com

S&P 500 and Nasdaq: Prices and Targets for Friday

  • Wednesday, October 23rd, was very inactive for the S&P 500 as we saw a drop to 5761.8
  • The Nasdaq was under a lot of pressure on Wednesday, October 23, and we saw a drop to 19936.3

S&P 500 chart analysis

Wednesday, October 23rd, was very inactive for the S&P 500 as we saw a drop to 5761.8. The previous support at the 5840.0 level did not hold, and a pullback followed. After the new low, the index managed to start a bullish consolidation up to the 5820.0 level. There, we encountered the EMA 200 moving average, which did not allow us to continue on the bullish side, but a new pullback was initiated.

This time, we get support at the 2785.0 level. During this morning’s Asian session, the S&P 500 managed to stabilize and jump over the EMA 200 moving average. It would be nice to stay up there until the end of this week’s session to put us in a good position for next week. Potential higher targets are 5840.0 and 5850.0 levels. For a bearish option, we need a negative consolidation of the S&P 500 below the 5810.0 daily open level. With that step, we strengthen the bearish momentum, and it remains for the index to continue its retreat. Potential lower targets are 5800.0 and 5790.0 levels.

 

Nasdaq chart analysis

The Nasdaq was under a lot of pressure on Wednesday, October 23, and we saw a drop to 19936.3. After the formation of a new low, the index begins to recover and returns above the 20000.0 level. During this morning’s Asian session we get new support at 20250.0. In that zone, the EMA 200 creates additional support, and the Nasdaq continues up to the 20300.0 level. We are a little short of reaching the weekly open level and moving to the positive side.

Potential higher targets are 20400.0 and 20450.0 levels. For a bearish option, it is necessary for the Nasdaq to pull back below the daily open level. This moves us below the EMA 200 moving average. After that, we expect the rise of bearish momentum and the formation of a new daily low. Potential lower targets are 20200.0 and 20150.0 levels.

 

The post S&P 500 and Nasdaq: Prices and Targets for Friday appeared first on FinanceBrokerage.