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Resolution Minerals Ltd (“RML” or the “Company”) (ASX: RML) is pleased to announce that it has entered into a binding agreement for the acquisition of a brownfields Antimony and Gold project located in Idaho of the United States of America.

HIGHLIGHTS

  • Resolution Minerals Ltd (ASX:RML) has entered into a binding agreement to acquire the Horse Heaven Antimony-Gold-Silver-Tungsten Project (“Horse Heaven” or “Project”), located in the historical Stibnite Mining District of Valley County, central Idaho.
  • Horse Heaven shares its eastern boundary with NASDAQ-listed Perpetua Resources’ Stibnite Gold- Antimony Project (PPTA.NAS ~A$2bn market cap).
  • Horse Heaven hosts two highly prospective Gold- Antimony-Tungsten prospects known as the Antimony Ridge Fault Zone (“ARFZ”) and the Golden Gate Fault Zone (“GGFZ”).
  • Drill-ready targets; drilling planned to start in 2025
  • The Antimony Ridge Fault Zone has an approximate strike length of 1.2 km and hosts known gold–antimony– silver-tungsten mineralisation associated with hydrothermally altered and sheared granodiorite.
  • The Golden Gate Fault Zone has an approximate strike length of 3.5km and hosts the Golden Gate Hill target. It hosts known disseminated gold mineralisation, like Antimony Ridge Fault Zone, associated with hydrothermally altered and sheared granodiorite.
  • Tungsten was produced from Golden Gate Hill between the 1950’s and 1980’s.
  • Results from past systematic sampling and preliminary drilling at both prospects are highly encouraging, indicating large tonnage mining potential.
  • Highlight past rock chip results at Horse Heaven (Antimony Ridge) (Appendix C) include:
    • Rock chip sample 329003 with 3.68g/t gold, 303g/t silver and 2.72% antimony over 4m.
    • Rock chip sample 329014 with 1.33g/t gold, 367g/t silver and 13.75% antimony over 1m.
    • Rock chip sample 329015 with 4.65g/t gold, 70.5g/t silver and 19.15% antimony over 1m.
    • Rock chip sample 329085 with 3.21g/t gold, 178g/t silver and 0.37% antimony over 3m.
    • Rock chip sample 329089 with 5.99g/t gold, 246g/t silver and 0.71% antimony over 1m.
  • Highlight past drilling results at Horse Heaven (Appendix B) include drill intersections of:
    • Drill hole 87-GGR-31: 85.34m @ 0.937g/t Au (true width unknown), including 38.10m @ 1.459g/t Au.
    • Drill hole 86-GGR-10: 105.16m @ 0.787g/t Au (true width unknown); including 51.82m @ 0.990g/t Au.
    • Drill hole 86-GGR-01: 30.48m @ 1.354g/t Au (true width unknown).
  • Historical, non-JORC gold resource of 216,000 ounces of gold in 7,256,800 tons of material at a grade of 0.93g/t at Golden Gate Hill, and gold resource of 70,000 ounces of gold in 3,174,850 tons of material at a grade of 0.69g/t at Antimony Hill are noted in previous reports of Horse Heaven.

Cautionary note:

The estimate is a ‘historical estimate’ under ASX Listing Rule 5.12 and is not reported in accordance with the JORC Code. A Competent Person has not yet undertaken sufficient work to classify the historical estimate as mineral resources or ore reserves in accordance with the JORC Code. It is uncertain that, following evaluation and/or further exploration work, it will be possible to report this historical estimate as mineral resources or ore reserves in accordance with the JORC Code.

  • Horse Heaven also hosts 10km to 15km of additional strike length of potentially mineralised faults and shears traversing favourable host rocks.
  • The Exploration Model applicable for the Horse Heaven Project is Intrusion Related Gold System (“IRGS”) and a deposit analogue for the Horse Heaven Project is the adjacent NASDAQ-listed Perpetua Resources Corp (PPTA.NAS, ~A$2 billion market cap) owned Stibnite Gold Mine.*
  • The Stibnite Gold Mine is located 5km to the east of the Horse Heaven Project and, once reopened, will be the only domestically mined source of antimony in the U.S.1
  • Past exploration at Horse Heaven includes historical (1890 to 1950), late 1900s (1970 to 1990s) and modern (2000 to 2023) exploration phases, with the latter mainly conducted by TSX-V-listed Stallion Uranium Corp.
  • Antimony, Tungsten and Gold at record high prices as China tightens grip on critical minerals exports.
  • The Horse Heaven Project complements the Company’s recently acquired Australian Au-Sb-Cu projects to create a dynamic portfolio highly leveraged for gold and antimony.

RML’s Executive Director, Aharon Zaetz commented:

“The Board considers that the acquisition of the Horse Heaven Project has the potential to be a transformative event for RML. As many governments around the world look to onshore their supply of critical minerals, such as antimony and tungsten, we have secured a commanding ground position with known antimony occurrences and next to what is likely to become the largest antimony producer in the USA.

RML’s entry into US critical minerals comes at a terrific time, with the market attributing huge premiums to ASX-listed companies operating in the space over the last 8 weeks, such as Dateline Resources (DTR), Trigg Minerals (TMG) and Locksley Resources (LKY) which have all seen significant re-ratings in recent weeks, thanks to the supportive pro-mining policies of new President Donald Trump.”

Click here for the full ASX Release

This post appeared first on investingnews.com

Here’s a look at the life Friedrich Merz, chancellor of Germany.

Personal

Birth date: November 11, 1955

Birth place: Brilon, Germany

Birth name: Joachim-Friedrich Martin Josef Merz

Father: Joachim Merz, judge

Mother: Paula Sauvigny

Marriage: Charlotte Gass (1981-present)

Children: Three

Education: Studied law at the University of Bonn and the University of Marburg, graduating in 1985.

Military service: 1975–1976

Religion: Catholic

Other Facts

Merz has a hardline stance on migration. He has called for asylum-seekers arriving from other European Union member states to be rejected at Germany’s land borders.

Merz has criticized liberal welfare benefits. He has promised to slash welfare spending, telling The Economist in a rare sit-down interview in the lead-up to the election that he wants to avoid “paying people who are not willing to work.”

In 2003, Merz argued that German tax rules should be simple enough to calculate on the back of a beer coaster.

Merz is an amateur pilot.

Timeline

1972 – Joins the Christian Democratic Union (CDU).

1985-1986 – Judge at Saarbrücken District Court.

1986-1989 – Lawyer for the German Chemical Industry Association.

1989 – Is elected to the European Parliament.

1994 – Wins a seat in the Bundestag.

2000 – Loses to Angela Merkel in a CDU party leadership election.

2009 – Merz leaves the Bundestag and joins the private sector, working as a lawyer.

2021 – Returns to his previous seat in the Bundestag.

January 2022 – After two failed bids for CDU party leadership, in 2018 and 2021, Merz is selected to lead the party.

February 23, 2025 – CDU and its sister party wins the federal election. Merz will likely be the next chancellor of Germany.

April 9, 2025 – Announces he will form a coalition with the center-left Social Democrats (SPD).

May 6, 2025 – Merz is approved as chancellor of Germany. He had fallen six votes short earlier in the day.

This post appeared first on cnn.com

Syria issued a conservative new dress code Tuesday requiring women to wear burkinis or full-body swimwear on all public beaches, the latest cultural shift since Islamist-led rebels toppled dictator Bashar al-Assad’s regime last December.

The Tourism Ministry said the new guidelines were made in “the requirements of public interest.”

“Visitors to public beaches and pools, whether tourists or locals, are required to wear appropriate swimwear that takes into account public taste and the sensibilities of various segments of society,” Tourism Minister Mazen al-Salhani said in a directive posted to Facebook.

“More modest swimwear is required at public beaches and pools (burkinis or swimsuits that cover more of the body),” said the directive, adding, “When moving between the beach and other places, it is necessary to wear a beach cover-up or loose-fitting robe (for women) over swimsuits.”

Men are required to wear shirts under the new guidance, which says that “topless clothing is not permitted in public areas outside of swimming areas, hotel lobbies, and food service areas.”

“In public areas outside of beaches and pools, it is preferable to wear loose clothing, covering shoulders and knees, and avoid transparent or overly tight clothing,” according to the directive.

However, the ministry said that in resorts and hotels “classified as international and premium (4-star)” and in private beaches and swimming pools ”typical Western swimwear is permitted.”

It’s unclear what repercussions people who do not follow the guidelines will face, but the ministry said that “lifeguards and beach supervisors” would monitor people to ensure compliance.

The new regulations reflect the influence of Hayat Tahrir al-Sham (HTS), the Islamist coalition now leading Syria’s transitional government. Formerly known as Al-Nusra Front, HTS is designated as a terrorist group by the US and UK.

Interim Syrian President Ahmad al-Sharaa, who signed the dress-code directive, led HTS in the lightning offensive that led to the fall of Assad, whose regime had been in power for several decades.

In March, al-Sharaa signed an interim constitution mandating Islamist rule for a transitional phase of five years. Al-Sharaa said in December that rewriting Syria’s constitution might take three years, with elections potentially taking place within five years.

The US-based Human Rights Watch said in March that Al-Sharaa’s “broad authority raises serious concerns about the durability of the rule of law and human rights protections unless clear safeguards are put in place.”

Tourism Minister al-Salhani, who recently courted Qatari and Saudi investors for tourism projects worth “billions of dollars,” framed the rules as respecting Syria’s cultural, social, and religious diversity.”

The announcement comes amid a push to revive Syria’s tourism industry following the lifting of US sanctions in May 2025 – a move US President Donald Trump described as a “chance at greatness” for Syria.

This post appeared first on cnn.com

Argentina’s top court effectively banned two-term former President Cristina Fernández de Kirchner from office and upheld a six-year jail sentence, likely drawing a curtain on one of the country’s most flamboyant and divisive political careers.

Kirchner, 72, a polarizing opposition figure and leftist president from 2007 to 2015, was convicted by a trial court in 2022 for a fraud scheme that steered public road work projects in the Patagonia to a close ally while she was president.

The ruling scuppers Kirchner’s plans to run in Buenos Aires provincial legislative elections, but could galvanize her divided Peronist opposition coalition, which has been licking its wounds since being ousted in 2023 by current libertarian President Javier Milei.

The Supreme Court’s three judges rejected Kirchner’s appeal and left in effect an appellate court decision that had upheld the guilty verdict. A lower court will decide whether to grant Kirchner house arrest due to her age.

“The complaint is dismissed,” the Supreme Court said in a ruling. Kirchner has denied wrongdoing and claims she is a victim of political persecution.

In Buenos Aires, her supporters blocked roads across the city. Some banged on drums. Others carried banners with the image of Evita Perón, the wife of Juan Perón, the founder of the political movement who was known as a defender of the poor.

“A triumverate of unpresentables,” Kirchner said of the Supreme Court judges after the ruling, speaking before thousands of supporters who rallied in downtown Buenos Aires outside the headquarters of her Peronist Justicialista party.

Kirchner’s shadow looms large over the Peronist movement, which needs to identify a new generation of leaders.

“The fact that she goes to jail and can’t be a candidate doesn’t eliminate her political movement,” said political analyst Carlos Fara. “Obviously though it won’t be the same.”

A government source said that it could both weaken or strengthen the opposition. Peronism “can either entrench itself or break into a thousand pieces,” the person told Reuters.

Justice?

Prosecutors accused Kirchner of directing hundreds of millions of dollars to construction magnate Lázaro Báez. During her government and that of her late husband, Néstor Kirchner, companies tied to Báez were awarded dozens of government contracts for roadwork projects in Patagonia but nearly half of them were abandoned, prosecutors said.

Báez and other officials were sentenced to prison terms.

Peronism and Kirchner’s popularity have suffered in recent years. She served as vice president in 2019 under President Alberto Fernández, whose government oversaw a slide into economic crisis by overprinting pesos that led to sharp spike in inflation.

But she has still been able to maintain a hardcore support base, particularly from working-class voters who relied on government subsidies under her and her husband’s governments.

“As a figure she’s not been overshadowed on the political scene by anyone,” said Carolina Barry, an expert on Peronism at the Universidad Nacional de Tres de Febrero in Buenos Aires. “Her words resonate with many groups.”

Kirchner has been sharply critical of Milei’s austerity, accusing him of cutting pensions and defunding public education. Milei has shot back that he would “love to bang the last nail in the coffin of Kirchnerismo, with Cristina Kirchner inside.”

“Justice,” wrote Milei on X after the verdict on Tuesday.

Alejandro Carrió, a constitutional and criminal law expert in Buenos Aires, said that even if Kirchner serves the sentence under house arrest, it was unclear “if with time she’ll lose the clear leadership she’s held for years.”

Kirchner faces charges in several other criminal cases and is scheduled to stand trial in November on accusations that she led a large-scale bribery scheme.

She’s not the first Argentine president to face a criminal conviction, joining, among others, former President Carlos Menem, who was sentenced to over four years in prison for embezzlement of public funds during his presidency in the 1990s. As a senator, congressional immunity protected him from prison.

This post appeared first on cnn.com

Hundreds of masked rioters attacked police and set homes and cars on fire in the Northern Irish town of Ballymena on Tuesday in the second successive night of disorder that followed a protest over an alleged sexual assault in the town.

Police said they were dealing with “serious disorder” in the town, which is about 45 km (30 miles) from the capital Belfast, and urged people to avoid the area.

Officers in riot gear and driving armoured vans responded with water cannon and plastic baton rounds after being attacked by petrol bombs, scaffolding and rocks that rioters gathered by knocking down nearby walls, a Reuters witness said.

One house was burned out and a police officer vomited after leaving another in a different part of the town that rioters had attempted to set alight, the witness added.

A number of cars were set on fire and one lay upside down in flames as police sirens blared throughout the town past midnight.

Four houses were damaged by fire and windows and doors were smashed in other homes and businesses in the first night of rioting on Monday, in what police said they are investigating as racially-motivated hate attacks.

Hundreds of protesters had gathered in Ballymena earlier on Monday in response to a case involving two teenage boys who appeared in court that day, accused of sexually assaulting a teenage girl in the County Antrim town.

Local media reported that the charges were read to the teenagers via an interpreter.

Fifteen police officers were injured on Monday, with some requiring hospital treatment.

Separate protests on Tuesday had earlier blocked off some roads in Belfast, another Reuters witness said, but no unrest was reported in other parts of the British-run region.

The British government and local politicians condemned the violence.

“The terrible scenes of civil disorder we have witnessed in Ballymena again this evening have no place in Northern Ireland,” Britain’s Northern Ireland Minister Hilary Been said on X.

This post appeared first on cnn.com

In the heat of the Jamaican sun, where the wetlands glisten and buzz with life, an ancient predator is vanishing.

There are around 28 species of crocodiles found throughout the world’s tropical and subtropical regions. But there is only one species in Jamaica, found primarily along the southern coast from St. Thomas to Westmoreland.

Once revered and feared across the island, the American crocodile (Crocodylus acutus) has long ruled the mangroves and coastal lagoons.

But in recent years, its population has been decimated, due to illegal hunting, habitat loss and plastic pollution, as well as killings prompted by a lingering fear among locals.

Lawrence Henriques has made it his life’s mission to change that.

Known as “The Crocodile Guardian,” Henriques has spent the past four decades fighting for their survival.

He runs the Holland Bay Crocodile Sanctuary, a grassroots conservation project in the southeast of the island, perched on the edge of what he says is one of Jamaica’s last viable crocodile habitats.

From this remote corner of the island, he’s trying to undo years of damage: nursing sick crocs back to health, raising juveniles and restoring their numbers in the wild.

“There’s a real fear of crocodiles in Jamaica,” says Henriques. “They’re not tolerated by a lot of people. So if one turns up in someone’s backyard, it’s often killed for meat or just because people are afraid.”

Although crocodiles are often seen as aggressive and dangerous, attacks are few and far between. While reliable figures are hard to come by, according to the global database CrocAttack, there have been 11 incidents reported over the past decade in Jamaica, including one fatality in 2018.

That’s why Henriques is working to change the narrative about the animal and help people understand that they are far less threatening than their reputation suggests.

Born and raised in the Jamaican capital, Kingston, during the 1960s, Henriques always had a penchant for “creepy crawlies,” such as spiders, scorpions and snakes.

But it was crocodiles that truly captured his attention.

“We had a lot more crocodiles and a lot more habitat in those days,” he recalls. “I always had a half a dozen or so baby crocodiles rearing in my bedroom.”

That fascination eventually became a vocation. After studying overseas and learning more about reptiles when working with the Scientific Exploration Society, a UK charity, in Belize, Henriques returned to Jamaica in 1980. He was startled to find that despite crocodiles being classified as endangered in 1971 under the Wildlife Protection Act, there was little practical conservation happening.

“The laws were there, but nobody was doing anything,” he says. “The environmental agency was very under-resourced and still is to this day. And there was nobody really with expertise or knowledge on reptiles.”

A sanctuary on the edge

Henriques volunteered to assist the Jamaican government, carrying out crocodile rescues and providing rehabilitation, all while holding down a job in the citrus industry.

He continued like this for almost 20 years, before a brief relocation to London, UK. When he returned to Jamaica in 2010, he launched what would become the Holland Bay Crocodile Sanctuary — a facility dedicated to rescue, rehabilitation and public education.

The sanctuary, which lies on the edge of a wetland, is home to 27 adult crocodiles along with 18 baby crocs. The juvenile crocs have been bred on site and are typically released into the wild after three years, while the adults have been rescued and rehabilitated after being hit by cars, caught in traps, or found living in squalid conditions. Over the past three years, around 90 have been successfully released back into the wild according to Henriques.

One of the crocodiles living at the sanctuary currently is Xena, who was discovered guarding her eggs in an area littered with trash, her skin slimy and her teeth gray from pollution.

Savannah Boan, an international ambassador from Gatorland Global, the conservation arm of the Florida-based wildlife park which helps to fund the sanctuary, says that since being relocated, Xena’s skin has healed and her teeth are white again. Her babies have also been raised at the facility and released into safe areas, helping to boost wild populations of the species.

Black market

Despite legal protections, crocodiles in Jamaica face growing threats. Poaching is rampant, often driven by demand for meat or misguided fear, according to officers from the country’s National Environment and Planning Agency (NEPA).

“Poaching is definitely a huge problem,” says Leighton Mamdeen, an environmental officer at NEPA. “We try to limit it through enforcement measures such as regular monitoring and we partner with the Jamaica Constabulary Force and the Jamaica Defence Force to do patrols.”

According to media reports, there is a thriving black market for crocodile meat and eggs in Jamaica, with the meat sold for as much as 5,000 Jamaican dollars ($31) a pound (450 grams) – more than 10 times the price of chicken meat.

This could stem from a widespread misconception in some rural communities that crocodile meat has aphrodisiac properties.

Damany Calder, another environmental officer at NEPA, says he has noticed a troubling pattern during callouts, when crocodiles are discovered with their tails removed.

“There’s a rumour about the crocodile tail… it’s (used) either for sexual performance, fertility or longevity,” he says.

In other cases, crocodiles have been found in backyard ponds, kept as pets, or used as props for TikTok stunts or music videos. There was even a time when a small live crocodile was found stuffed in a broken fridge, says Calder. He believes it may have been part of a ritual referred to as Obeah, a Jamaican religious tradition similar to voodoo.

Social media videos have occasionally resulted in prosecutions but only if culprits are caught in the act, Calder says. Individuals found guilty of killing crocodiles may be charged a maximum fine of $100,000 or face one-year imprisonment.

“The police are heavily involved, and they’re trying to improve the penalties,” says Henriques.

“But like everything else, it’s catching the person and proving it in court. It’s a very long, drawn-out process.”

Habitat erased

Development is another killer.

Jamaica’s mangroves and wetlands are currently being cleared for tourism and residential development according to The Forestry Department. This affects the country’s coastal resilience, as mangroves reduce wave energy and storm surges, helping to prevent flooding, and it damages biodiversity, as they are serve as nurseries for fish and provide essential habitat for species like crocodiles.

As this territory shrinks, crocodiles are forced closer to humans.

“These animals are ending up in places they’ve always lived,” Henriques says. “But now those places are towns and roads … We’ve taken their habitat.”

To Henriques, the crocodile isn’t a menace — it’s a keystone species that has been on the island for millions of years. It even features on the Jamaican coat of arms, which shows a crocodile perched atop a royal helmet and mantling, designed to symbolize the island’s unique wildlife and natural heritage.

“They’re like engineers of the ecosystem,” he says. “They dig channels, control fish populations and keep the wetlands healthy.”

He explains that the presence of these apex predators helps to regulate biodiversity within aquatic ecosystems by controlling prey populations and creating microhabitats that support various flora and fauna.

But Henriques warns that because of poaching and habitat loss, the island no longer has many large male crocodiles left along the coastline: “Most now are smaller. It’s a serious shift.”

“What’s happening in Jamaica reflects a global pattern — wetland species are disappearing, and with them, the health of the entire ecosystem,” he adds.

Changing minds, one school at a time

Despite the challenges, there’s a cautious sense of hope.

Henriques and NEPA have ramped up community outreach and education programs, especially in areas near crocodile habitats.

“One of the most impactful things we’ve done is visit schools,” says Mamdeen. “If you start with the kids, you’ll have a greater chance of securing the animal’s future.”

When reports of a crocodile in a pool of water near a school caused panic among parents and children, NEPA directed its outreach efforts toward local students.

“We told them: crocodiles would rather run (from you) than rush (towards) you,” he says. “If you’re near water at night, walk with a stick. If the animal is touched, it moves.”

Henriques added: “People are beginning to understand these animals have a place … They’re not pests. They’re survivors.”

Still, the sanctuary is one of only a few conservation efforts on the island, and without continued support, Henriques fears Jamaica’s crocodiles may not survive the next few decades.

“We can’t afford to lose them,” he says. “They’ve been here longer than we have. They’re part of this land.”

This post appeared first on cnn.com

Sector Rotation: A Week of Stability Amidst Market Dynamics

Last week presented an intriguing scenario in our sector rotation portfolio.

For the first time in recent memory, we witnessed complete stability across all sector positions — no changes whatsoever in the rankings.

  1. (1) Industrials – (XLI)
  2. (2) Utilities – (XLU)
  3. (3) Consumer Staples – (XLP)
  4. (4) Communication Services – (XLC)
  5. (5) Financials – (XLF)
  6. (6) Technology – (XLK)
  7. (7) Real-Estate – (XLRE)
  8. (8) Materials – (XLB)
  9. (9) Consumer Discretionary – (XLY)
  10. (10) Healthcare – (XLV)
  11. (11) Energy – (XLE)

Weekly RRG: Steady as She Goes

The weekly Relative Rotation Graph (RRG) continues to paint a picture of gradual shifts. Utilities and Consumer Staples, while still occupying high RS ratio levels, are moving lower on the chart. Utilities clings to the leading quadrant, but Consumer Staples has just crossed into weakening territory.

Financials and Communication Services remain in the weakening quadrant, but their RS momentum levels have stabilized. Communication Services shows a slight uptick, while Financials maintains a negative heading — albeit well above the 100 mark.

Industrials, our current star performer, continues its reign in the leading quadrant. It’s gaining ground on the RS-ratio axis while experiencing a minor dip in RS momentum. All in all, the weekly picture remains essentially unchanged from last week.

Daily RRG

Shifting our focus to the daily RRG, we start to see more nuanced movements:

  • Staples and Utilities are rotating within the improving quadrant, losing ground on the RS momentum axis without gaining in RS ratio. This suggests further weakening on the weekly chart is likely.
  • Financials have made their way into the improving quadrant — a positive development that builds on last week’s progress.
  • Communication Services is practically aligned with the benchmark (SPY), showing little distinctive movement.
  • Industrials continues deeper into the weakening quadrant, but — and this is crucial — its RRG velocity (the distance between tail nodes) is very low. This keeps the door open for a potential curl back up before hitting the lagging quadrant, which would reinforce its strong position.

Industrials: Breaking New Ground

The price chart for Industrials is confirming its current strength with a break above overhead resistance. This breakthrough is likely to unlock more upside potential, keeping the sector firmly at the top of our list. The relative performance continues to reflect this positive momentum.

Utilities: Struggling at Resistance

Once again, Utilities tested its overhead resistance (between 83 and 84) but failed to break higher. Prices retreated into the range by week’s end. This setback is causing relative strength to drop back into its sideways trading range, with RRG lines rolling over. The sector needs a swift improvement in both price and relative strength to maintain its recent strong position.

Consumer Staples: Déjà Vu

Consumer Staples finds itself in a similar boat to Utilities. Another attempt to break overhead resistance around 83.5 was met with a pullback. This pattern has been repeating for weeks, and it’s taking its toll on the raw relative strength line.

While the RS ratio remains high — a legacy of strength since the year’s start — the rapid loss of relative momentum is causing the RS ratio to roll over. Like Utilities, consumer staples need a quick price improvement to maintain its top-five position.

Communication Services: Closing In

Communication Services had a strong week, closing near the range’s high end and approaching its previous peak just above 105. This improvement has kept the raw relative strength line against SPY within its rising channel. Continued strength, especially if XLC breaks above 105, should keep relative strength in an uptrend and likely cause the RRG lines to curl back up soon.

Financials: Battling Resistance

Financials continue to struggle with an old rising support line, now acting as resistance near the 52 area where the previous high is located. This price stagnation has caused the raw RS line to break its rising support, leading the RRG lines to roll over. The RS momentum line has already dropped below 100, and the RS ratio is starting to move lower.

We’ve seen the daily tail for XLF pick up slightly — this acceleration needs to continue in the coming weeks for XLF to maintain its top-five position.

Portfolio Performance

Due to the positions of Consumer Staples and Utilities, our top five remains defensively positioned. This has caused our underperformance versus SPY to widen slightly — we’re now just over 6% behind since the start of the year.

Is this ideal? Of course not. But here’s the thing — trend-following systems need time to play out. The worst thing you can do is abandon a strategy just because it’s going against you for a few months. (And let’s be honest, it’s only been since May — so two months.)

I will stay the course, maintain discipline, and continue to track this portfolio based on our established metrics. It’ll be interesting to see how long it takes for this strategy to come back on top and start outperforming SPY again. Patience is key in these situations.

#StayAlert and have a great week. –Julius


There are a few very different setups unfolding this week that are worth a closer look: two software-related names that are struggling to reclaim their winning ways, plus one lovable and reliable stock wagging its tail in the spotlight. 

Let’s break it down.

Adobe (ADBE): Mind the Gaps

Adobe Systems, Inc. (ADBE) has been a heartbreaker for investors over the last several years. ADBE stock has traded lower after six of its last seven quarterly reports. That includes consecutive losses of nearly -14%. So what should investors be watching this time around?

Coming into Thursday’s release, shares are lower by 6.4% for the year and have just made back their losses from last quarter. Overall, shares remain -35% from all-time highs set back in January 2024.

Investors will be looking for progress on the AI monetization front. Is annual recurring revenue from Adobe’s Firefly and Acrobat products showing a strong growth projection? And, perhaps more importantly, what’s the guidance going to look like? Last quarter, Adobe issued conservative guidance, and shareholders were punished as a result. Will forward-looking guidance meet investor expectations?

Technically, ADBE shares are trying to find that bottom (see chart below). Progress has been made, as the stock is taking minor steps to climb back from the morass.

FIGURE 1. DAILY CHART OF ADBE STOCK. The stock is trading between the 100- and 200-day moving averages. The stock price could gain momentum and move higher or lower after earnings.Chart source: StockCharts.com. For educational purposes.

On the chart, we’re seeing the following signs:

  • Shares have broken their intermediate downtrend.
  • Shares have recaptured the 50-day moving average.
  • Shares have almost filled the downward gap caused by last quarter’s results.
  • Shares have recaptured the 100-day moving average and held for now.

That said, there’s still work to be done, and knowing how this stock gaps in earnings means a move may be coming.

Let’s examine those last three gaps. Each one has been negative, and each time, price action continued in the trend’s direction for several weeks before making a bottom and rallying back. The same thing happened on the last gap up, as momentum in the direction of the gap continued for weeks. Point being, it’s a good idea to watch those gaps. 

ADBE is in a “no man’s land” between key moving averages. The longer-term trend remains down, and it may take a huge report to stay above the 200-day moving average on a rally. It’s one to avoid for now, but the short-term play after earnings may be to go with the momentum of any gap.

Chewy (CHWY): Any New Tricks in Store?

Chewy Inc. (CHWY), the online retailer of pet food and pet-related products, broke out to new highs just last week ahead of this week’s earnings. Shares have been on a roll since their April 7 low, gaining over 60% in that time (see chart below).

FIGURE 2. DAILY CHART OF CHWY STOCK. The stock price has been in beast mode since early April, up more than 60%. With the stock in overbought territory, it could pull back to $44 or $40. Chart source: StockCharts.com. For educational purposes.

Technically, the stock broke out of a textbook rounded bottom base and zoomed to its anticipated upside target of $50. CHWY shares seem overextended as they have been overbought for weeks (Relative Strength Index > 80). The stock price could roll over even on good news, given its recent run. Long-term investors may want to stay in the name and sit on gains.

For those begging for a pullback, there are nice levels of support at $44 and ultimately at $40 if earnings bite investors. This should be a good opportunity to consider this name for your portfolio as the long-term technicals look great, and the company is known for its loyal user base.

Oracle (ORCL): Time to Flip the Script?

Oracle Corp. (ORCL) will report earnings on Wednesday, looking to snap a two-quarter losing streak. Shares of the software giant have rallied nicely off their lows, but are still -13% from their December peak. Investors would like to see its cloud revenue growth continue to expand thanks to agreements with OpenAI, Meta, and Nvidia.

The one concern is the continued capital spending necessary to power the data centers required to meet AI demand. Are the company’s recent capital expenditures putting pressure on margins and impacting ORCL stock’s bottom line? 

Technically, shares have been on a nice run, eclipsing key levels to get back on track. Longer-term, the stock price started the week above its downtrend line, with respect to annual highs.

FIGURE 3. DAILY CHART OF ORCL STOCK. From a technical perspective, the stock price has broken above a long-term downtrend. Will upside momentum continue after earnings? Keep an eye on this stock.Chart source: StockCharts.com. For educational purposes.

The rally looks similar to many other technology names that are trying to get back to their old highs. The good news is that, given the change in trajectory, even weakness looks to have a soft landing spot and good entry point from a risk/reward perspective.

The stock reminds me of the S&P 500 ($SPX) a little bit — struggling to get to new highs and losing a bit of momentum. A pullback to its 200-day moving average around $163 would be a natural retracement — a flag if you will — and a good entry point on any drawdown after positive news.

If any signs of strength emerge, look for shares to run into the $190s before stalling again.

The Bottom Line

We have three different stories unfolding:

  • ADBE’s stock needs to clear earnings hurdles and reclaim trust.
  • CHWY’s stock is on fire, but might need to cool down.
  • ORCL’s stock is rebuilding momentum, and has potential upside if cloud numbers impress.