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The Best Five Sectors, #22

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

A Few Charts Worth Watching This Week

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.

Finlay Minerals Announces Closing of Non-Brokered Private Placement of Flow-Through Shares and Non-Flow-Through Units

/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

finlay minerals ltd. (TSXV: FYL) (OTCQB: FYMNF) (‘Finlay’ or the ‘Company’) is pleased to announce that it has closed its non-brokered private placement (the ‘ Private Placement ‘), previously announced on May 26, 2025 and June 4, 2025 consisting in the issuance of: (i) 11,206,088 common shares of the Company issued on a flow-through basis under the Income Tax Act ( Canada ) (each, a ‘ FT Share ‘) at a price of $0.11 per FT Share, and (ii) 4,400,000 non-flow-through units of the Company (each, a ‘ NFT Unit ‘) at a price of $0.10 per NFT Unit, for aggregate gross proceeds to the Company of $1,672,670 .

Each NFT Unit was comprised of one non-flow-through common share of the Company (each, a ‘ NFT Share ‘) and one non-flow-through common share purchase warrant (a ‘ Warrant ‘). Each Warrant is exercisable by the holder thereof to acquire one NFT Share at an exercise price of $0.20 per NFT Share until June 9, 2027 , subject to acceleration as described in the Company’s press release dated June 4, 2025 .

The Company intends to use the gross proceeds of the Private Placement for exploration of the Company’s SAY, JJB and Silver Hope properties, and for general working capital purposes, as more particularly described in the amended and restated offering document in respect of the Private Placement filed on www.sedarplus.ca under the Company’s profile. The Company will use the gross proceeds from the issuance of FT Shares to incur ‘Canadian exploration expenses’ that qualify as ‘flow-through critical mineral mining expenditures’, as such terms are defined in the Income Tax Act ( Canada ).

The Private Placement was conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions and in reliance on the Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption . The securities issued to purchasers in the Private Placement are not subject to a hold period under applicable Canadian securities laws. The securities issued to certain insiders of the Company that participated in the Private Placement are subject to a hold period expiring on October 10, 2025 in accordance with the policies of the TSX Venture Exchange (the ‘ TSXV ‘). The Private Placement is subject to the final approval of the TSXV.

The Company paid aggregate cash finder’s fees of $89,196 and granted 829,145 non-transferable finder warrants (each, a ‘ Finder Warrant ‘) to arm’s length finders of the Company, as compensation for locating purchasers in the Private Placement. Each Finder Warrant entitles the holder thereof to purchase one non-flow-through common share of the Company at an exercise price of $0.20 per share until June 9, 2027 . The Finder Warrants and the common shares issued on exercise thereof are subject to a hold period expiring on October 10, 2025 in accordance with applicable securities laws.

Gordon Steblin , the Chief Financial Officer of the Company, participated in the Private Placement by subscribing for 200,000 FT Shares, which constitutes a related party transaction pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘ MI 61-101 ‘). There has not been a material change in the percentage of the outstanding securities of the Company that are owned by Mr. Steblin as a result of his participation in the Private Placement. The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the insider in the Private Placement in reliance on the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25% of the Company’s market capitalization as determined in accordance with MI 61-101. The Company obtained approval by the board of directors of the Company to the Private Placement. No materially contrary view or abstention was expressed or made by any director of the Company in relation thereto. The Company did not file a material change report less than 21 days before the expected closing date of the Private Placement as the insider participation was not settled until shortly prior to closing and the Company wished to close on an expedited basis for sound business reasons.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933 , as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder.

About finlay minerals ltd.

Finlay is a TSXV company focused on exploration for base and precious metal deposits through the advancement of its ATTY, PIL, JJB, SAY and Silver Hope Properties; these properties host copper-gold porphyry and gold-silver epithermal targets within different porphyry districts of northern and central BC. Each property is located in areas of recent development and porphyry discoveries with the advantage of hosting the potential for new discoveries.

Finlay trades under the symbol ‘FYL’ on the TSXV and under the symbol ‘FYMNF’ on the OTCQB. For further information and details, please visit the Company’s website at www.finlayminerals.com

On behalf of the Board of Directors,

Robert F. Brown ,
Executive Chairman of the Board & Director

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release includes certain ‘forward-looking information’ and ‘forward-looking statements’ (collectively, ‘forward-looking statements’) within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as ‘expect’, ‘plan’, ‘anticipate’, ‘project’, ‘target’, ‘potential’, ‘schedule’, ‘forecast’, ‘budget’, ‘estimate’, ‘intend’ or ‘believe’ and similar expressions or their negative connotations, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’, ‘should’ or ‘might’ occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the final approval for the Private Placement from the TSXV and the planned use of proceeds for the Private Placement. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the ability to obtain regulatory approval for the Private Placement, the state of equity markets in Canada and other jurisdictions, market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay’s proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements,   and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.

SOURCE finlay minerals ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2025/09/c0178.html

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Walker Lane Resources Announces Terms for Private Placement Units to Raise C$1,320,000

Walker Lane Resources Ltd. (TSX-V: WLR) (Frankfurt:ZM5P) (‘WLR’ or the ‘Company’) is pleased to announce the terms to its best efforts non-brokered private placement. The proposed terms are to issue 4,000,000 non-flow through units at a price of C$0.12 per unit (the NFT Units’) and 6,000,000 flow-through units at a price of $0.14 per unit (the ‘ FT Units’) of the Company for aggregate gross proceeds of up to C$1,320,000 (collectively, the ‘ Offering ‘).  There may be agents who will be acting as finder on behalf of the Company in relation to the Offering.

Each Unit will consist of one common share of the Company (each, a ‘ Unit Share ‘) and one full Warrant.  Each whole Warrant will entitle the holder thereof to acquire one non-flow-through common share of the Company (each, a ‘ Warrant Share ‘) at a price of C$0.16 per Warrant Share for a period of 24 months from the closing date of the Offering.  The proposed closing date of the Offering is on or before

The net proceeds from the sale of Units will be used to;

  • fund property expenses and exploration at the WLR’s properties in Yukon, British Columbia and Nevada which may include drilling activities on its Amy Project in British Columbia, pending receipt of an exploration permit, or other properties; and
  • general working capital,

The Company may pay finders’ fees comprised of cash and non-transferable warrants (the ‘ Finder’s Warrants ‘) in connection with the Offering, subject to compliance with the policies of the TSX Venture Exchange. The terms of the Finder’s Warrants will be the same as the Warrants distributed in the Units. All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance. Closing is subject to customary closing conditions including, but not limited to, the negotiation and execution of subscription agreements and receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.

The securities being offered will not be registered under the U.S. Securities Act of 1933, as amended (the ‘U.S. Securities Act’ ), or any applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or ‘U.S. persons,’ as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Qualified Person

Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company’s President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.

About Walker Lane Resources Ltd.

Walker Lane Resources Ltd.  is a growth-stage exploration company focused on the exploration of high-grade gold, silver and polymetallic deposits in the Walker Lane Gold Trend District in Nevada (i.e., Tule Canyon, Cambridge and Silver Mountain) and the Rancheria Silver District in Yukon/B.C. (Amy and Silver Hart/Blue Heaven) and Logjam ( Yukon). The Company intends to initiate an aggressive exploration program to advance the Amy (Rancheria Silver, B.C.) projects through an aggressive drilling program to resource definition stage in the near future. An exploration  permit application is currently being reviewed for the Amy Project.

On behalf of the Board:
‘Kevin Brewer’
Kevin Brewer, President, CEO and Director
Walker Lane Resources Ltd.

For Further Information and Investor Inquiries:

Kevin Brewer,
P. Geo., MBA, B.Sc. (Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (709) 327 8013
kbrewer80@hotmail.com
Suite 1600-409 Granville St., Vancouver, BC, V6C 1T2

Cautionary and Forward Looking Statements

This press release and related figures, contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words ‘anticipate’, ‘plans’, ‘continue’, ‘estimate’, ‘expect’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘potential’, ‘should’, ‘believe’ ‘targeted’, ‘can’, ‘anticipates’, ‘intends’, ‘likely’, ‘should’, ‘could’  or grammatical variations thereof and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this presentation. These forward-looking statements include, but are not limited to, statements concerning: our strategy and priorities including certain statements included in this presentation are forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule Canyon, Cambridge, Silver Mountain, and Shamrock Properties in Nevada (USA), and its properties including Silverknife and Amy properties in British Columbia, the  Silver Hart, Blue Heaven and Logjam properties in Yukon and the Bridal Veil property in Newfoundland and Labrador all of which now comprise the mineral property assets of WLR. WLR has assumed other assets of CMC Metals Ltd. including common share holdings of North Bay Resources Inc. and all conditions and agreements pertaining to the sale of the Bishop mill gold processing facility and remain subject to the condition of the option of the Silverknife property with Coeur Mining Inc. These forward-looking statements reflect the Company’s current beliefs and are based on information currently available to the Company and assumptions the Company believes are reasonable. The Company has made various assumptions, including, among others, that: the historical information related to the Company’s properties is reliable; the Company’s operations are not disrupted or delayed by unusual geological or technical problems; the Company has the ability to explore the Company’s properties; the Company will be able to raise any necessary additional capital on reasonable terms to execute its business plan; the Company’s current corporate activities will proceed as expected; general business and economic conditions will not change in a material adverse manner; and budgeted costs and expenditures are and will continue to be accurate.

Actual results and developments may differ materially from results and developments discussed in the forward-looking statements as they are subject to a number of significant risks and uncertainties, including: public health threats; fluctuations in metals prices, price of consumed commodities and currency markets; future profitability of mining operations; access to personnel; results of exploration and development activities, accuracy of technical information; risks related to ownership of properties; risks related to mining operations; risks related to mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently anticipated; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; changes in operating expenses; changes in general market and industry conditions; changes in legal or regulatory requirements; other risk factors set out in this presentation; and other risk factors set out in the Company’s public disclosure documents. Although the Company has attempted to identify significant risks and uncertainties that could cause actual results to differ materially, there may be other risks that cause results not to be as anticipated, estimated or intended. Certain of these risks and uncertainties are beyond the Company’s control. Consequently, all of the forward-looking statements are qualified by these cautionary statements, and there can be no assurances that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences or benefits to, or effect on, the Company.

The information contained in this presentation is derived from management of the Company and otherwise from publicly available information and does not purport to contain all of the information that an investor may desire to have in evaluating the Company. The information has not been independently verified, may prove to be imprecise, and is subject to material updating, revision and further amendment. While management is not aware of any misstatements regarding any industry data presented herein, no representation or warranty, express or implied, is made or given by or on behalf of the Company as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. The forward-looking statements and information in this presentation speak only as of the date of this presentation and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. Although the Company believes that the expectations reflected in the forward-looking statements and information are reasonable, there can be no assurance that such expectations will prove to be correct. Because of the risks, uncertainties and assumptions contained herein, prospective investors should not read forward-looking information as guarantees of future performance or results and should not place undue reliance on forward-looking information. Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future. To the extent any forward-looking statement in this presentation constitutes ‘future-oriented financial information’ or ‘financial outlooks’ within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above. The Company’s actual financial position and results of operations may differ materially from management’s current expectations and, as a result, the Company’s revenue and expenses. The Company’s financial projections were not prepared with a view toward compliance with published guidelines of International Financial Reporting Standards and have not been examined, reviewed or compiled by the Company’s accountants or auditors. The Company’s financial projections represent management’s estimates as of the dates indicated thereon.

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Tesla stock sinks as Musk and Trump ridicule each other

One day after seeing their largest-ever one-day drop, Tesla shares recovered some losses Friday as the spat between CEO Elon Musk and President Donald Trump that exploded into public view Thursday took appeared to take a breather heading into the weekend.

Shares in the electronic vehicle maker gained as much as 5% amid broader market gains following a report showing the U.S. added more jobs in May than forecast.

Even with Friday’s rally, Tesla shares are still down approximately 21% in 2025 — a decline that accelerated last week following Musk’s departure from the Trump administration.

Musk, the world’s richest person and until recently Trump’s cost-cutter-in-chief, said last week he was leaving as the head of his Department of Government Efficiency project to refocus on his businesses.

Those companies — Tesla, the satellite and space-launch company SpaceX, the social media platform X and the brain tech startup Neuralink — have faced growing criticism as Musk oversaw deep cuts to the federal workforce. Tesla sales around the world have fallen sharply this year.

Trump and Musk traded escalating insults Thursday afternoon, with the president threatening on his Truth Social platform to ‘terminate Elon’s Governmental Subsidies and Contracts.’ Yet there was no sign of any follow through on the threat Friday. At the same time, a senior White House official told NBC News that Trump is “not interested” in a call with Musk.

Tesla stock closed more than 14% lower Thursday. The automaker is Musk’s only publicly traded company — and one that the president tried to boost as recently as March, drawing sharp criticism on ethical grounds for turning the White House driveway into a car showroom just as the company’s stock was plunging.

The Trump-Musk rift has dented Tesla’s stock anew after Musk slammed the GOP spending bill as ‘a disgusting abomination” in a post on X last week.

‘Bankrupting America is NOT ok!’ he wrote in another post, part of an ongoing barrage of public ridicule.

Musk began speaking out after an electric-vehicle tax credit that would help incentivize Tesla purchases was not included in the bill, which is estimated to add $2.4 trillion to the national debt over 10 years. Musk has lobbied congressional Republicans for that tax credit, NBC News reported Wednesday.

‘I was, like, disappointed to see the massive spending bill, frankly, which increases the budget deficit, doesn’t decrease it, and undermines the work that the DOGE team is doing,’ Musk told ‘CBS Sunday Morning’ over the weekend.

As Trump spoke about the former DOGE chief in the Oval Office on Thursday alongside German Chancellor Friedrich Merz, Musk began firing off dozens of posts on X.

‘Whatever,’ he wrote. ‘Keep the EV/solar incentive cuts in the bill, even though no oil & gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill. In the entire history of civilization, there has never been legislation that both big and beautiful. Everyone knows this!’

Trump pushed back further on Musk’s criticism.

“Elon knew the inner workings of this bill better than almost anybody sitting here, better than you people. He knew everything about it. He had no problem with it,” he said during the meeting with Merz. “All of a sudden he had a problem, and he only developed the problem when he found out that we’re going to have to cut the EV mandate because that’s billions and billions of dollars, and it really is unfair.”

As Trump continued speaking, Musk posted another comment: ‘False, this bill was never shown to me even once and was passed in the dead of night so fast that almost no one in Congress could even read it!’

Tech analyst Dan Ives said the EV tax credit isn’t the main factor behind Tesla’s stock slide. “The reason Tesla stock’s off the way it is — and I think overdone — is because of the view that this means that Trump is not going to play nice when it comes to regulatory” issues, he told CNBC on Thursday. The feud between the two men is “not what you want to see as a Tesla shareholder,” Ives added.

‘Where is this guy today??’ Musk added Thursday in yet another post, resharing a compilation of Trump’s past tweets including one in which Trump called the federal debt ‘a national security risk of the highest order.’

‘Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate,’ Musk added on social media. ‘Such ingratitude.’

Musk is the richest person on the planet, according to the Bloomberg Billionaires index. His net worth of $368 billion is $125 billion more than that of Meta CEO Mark Zuckerberg, who is ranked second. Musk spent $250 million supporting Trump’s most recent campaign.

The president quipped from the White House that he thinks Musk ‘misses the place.’

‘I think he got out there and all of a sudden he wasn’t in this beautiful Oval Office,’ Trump said. ‘He’s got nice offices too, but there’s something about this one.’

The president’s own publicly traded company, Trump Media & Technology Group, has also suffered in the market. Shares of the Truth Social parent company fell more than 8% Thursday and are down over 41% so far this year.

This post appeared first on NBC NEWS

Week Ahead: NIFTY’s Behavior Against This Level Crucial As The Index Looks At Potential Resumption Of An Upmove

After consolidating for two weeks, the Nifty finally appeared to be flexing its muscles for a potential move higher. Over the past five sessions, the Nifty traded with an underlying positive bias and ended near the week’s high point while also attempting to move past a crucial pattern resistance. The past week saw the Index oscillating in the 527-point range, which was in line with the previous weeks. The volatility also cooled off; the India VIX came off by 9% to 14.63 on a weekly basis. While staying largely in a range trading with a positive bias, the headline Index closed with a net weekly gain of 252.35 points (+1.02%).

Over the past couple of weeks, the Nifty has traded in a well-defined range created between 24500-25100 levels. This would mean that the markets would remain devoid of directional bias unless they take out 25100 on the higher side or violate the 24500 level. Despite visibly strong undercurrents, staying reactive to the markets rather than getting predictive would be prudent. Although there are heightened possibilities of the Nifty taking out the 25100 level, we must consider it as resistance until it is taken out convincingly.

The coming week is set to see a stable start; the levels of 25150 and 25400 are likely to act as resistance points. The supports come in at 24800 and 24500. The trading range is expected to get wider than usual.

The weekly RSI is 60.94; it continues to remain neutral and does not show any divergence against the price. The weekly MACD is bullish and remains above its signal line. A strong white candle emerged; this shows the bullish trend that the markets had during the week.

A pattern analysis of the weekly chart shows that the Nifty resisted the upward rising trendline that began from the low of 21350 and joined the subsequent rising bottoms. The Nifty has attempted to penetrate it after resisting it for a couple of weeks.

Overall, the coming week may see the markets trading with an underlying bullish bias. However, for this to culminate in a good trending move, the Index will have to take out the 25100-25150 zone convincingly on the upside. Until this happens, the markets may continue to consolidate in a broad trading range. Unless there is a strong move that surpasses the 25100-25150 zone, one must consider this level as an immediate resistance point. Some pockets have run up too hard over the past few days; one must also focus on protecting gains at current levels rather than chasing the up moves. Fresh purchases must be kept limited in stocks with strong technical setups and the presence of relative strength. A cautiously positive 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 the CNX500 (NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed stocks. 

Relative Rotation Graphs (RRG) show that the Nifty PSU Bank Index continues to build on its relative momentum while staying inside the leading quadrant. It may continue outperforming the markets relatively. The Infrastructure, Consumption, and PSE Index are also inside the leading quadrant but are seen giving up on their relative momentum.

The Nifty Bank Index has rolled inside the weakening quadrant. The Nifty Services Sector, Financial Services, and Commodity Indice are also inside the weakening quadrant. Individual performance of components from these groups may be seen, but overall relative performance may slow down over the coming weeks.

The Nifty FMCG Index has rolled inside the lagging quadrant. The Nifty Metal and Pharma Indice are languishing in this quadrant. The Nifty IT index is also inside the lagging quadrant but is seen in a strong bottoming-out process while improving its relative momentum.

The Nifty Energy, Media, Realty, and Auto Indices are inside the improving quadrant and may continue improving 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

Tech ETFs are Leading Since April, but Another Group is Leading YTD

QQQ and tech ETFs are leading the surge off the April low, but there is another group leading year-to-date. Year-to-date performance is important because it includes two big events: the stock market decline from mid February to early April and the steep surge into early June. We need to combine these two events for a complete performance picture.

TrendInvestorPro uses a Core ETF ChartList to track performance and rank momentum. This list includes 59 equity ETFs, 4 bond ETFs, 9 commodity ETFs and 2 crypto ETFs. The image below shows the top 10 performers year-to-date (%Chg). Seven of the top ten are metals-related ETFs. Gold Miners (GDX), Silver Miners (SIL), Platinum (PLTM) and Gold (GLD) are leading the way. The Aerospace & Defense ETF (ITA), Transformational Data Sharing ETF (BLOK) and ARK Fintech Innovation ETF (ARKF) are the only three non-commodity leaders. The message here is clear: metals are leading.

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TrendInvestorPro has been tracking the Platinum ETF (PLTM) and Palladium ETF (PALL) since their big breakout surges on May 20th. The chart below shows PALL with a higher low from August to April and a breakout on May 20th. The ETF fell back below the 200-day SMA (gray line) in late May, but resumed its breakout with a 7.75% surge this week.

The bottom window shows the PPO(5,200,0) moving above +1% on May 21st to signal an uptrend in late May. This signal filter means the 5-day EMA is more than 1% above the 200-day EMA. The uptrend signal remains valid until a cross below -1% (pink line). As with all trend-following signals, there are bad signals (whipsaws) and good signals (extended trends). Given overall strength in metals, this could be a good signal that foreshadows an extended uptrend.

TrendInvestorPro is following this signal, as well as breakouts in other commodity-related ETFs. Our comprehensive reports and videos focus on the leaders. This week we covered flags and pennants in several tech ETFs (XLK, IGV, SMH, ARKF, AIQ, MAGS). Click there to take a trial and get your four bonuses. 

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Procter & Gamble to cut 7,000 jobs as part of broader restructuring

Procter & Gamble will cut 7,000 jobs, or roughly 15% of its non-manufacturing workforce, as part of a two-year restructuring program.

The layoffs by the consumer goods giant come as President Donald Trump’s tariffs have led a range of companies to hike prices to offset higher costs. The trade tensions have raised concerns about the broader health of the U.S. economy and job market.

P&G CFO Andre Schulten announced the job cuts during a presentation at the Deutsche Bank Consumer Conference on Thursday morning. The company employs 108,000 people worldwide, as of June 30, according to regulatory filings.

P&G faces slowing growth in the U.S., the company’s largest market. In its fiscal third quarter, North American organic sales rose just 1%.

Trump’s tariffs have presented another challenge for P&G, which has said that it plans to raise prices in the next fiscal year, which starts in July. The company expects a 3 cent to 4 cent per share drag on its fiscal fourth-quarter earnings from levies, based on current rates, Schulten said. Looking ahead to fiscal 2026, P&G is projecting a headwind from tariffs of $600 million before taxes.

P&G, which owns Pampers, Tide and Swiffer, is planning a broader effort to reevaluate its portfolio, restructure its supply chain and slim down its corporate organization. Schulten said investors can expect more details, like specific brand and market exits, on the company’s fiscal fourth-quarter earnings call in July.

P&G is projecting that it will incur non-core costs of $1 billion to $1.6 billion before taxes due to the reorganization.

“This restructuring program is an important step toward ensuring our ability to deliver our long-term algorithm over the coming two to three years,” Schulten said. “It does not, however, remove the near-term challenges that we currently face.”

P&G follows other major U.S. employers, including Microsoft and Starbucks, in carrying out significant layoffs this year. As Trump’s tariffs take hold, investors are watching Friday’s nonfarm payrolls report for May for signs of whether the job market has started to slow. While the government reading for April was better than expected, a separate reading this week from ADP showed private sector hiring was weak in May.

Shares of P&G fell more than 1% in morning trading on the news. The stock has fallen 2% so far this year, outstripped by the S&P 500′s gains of more than 1%. P&G has a market cap of $407 billion.

This post appeared first on NBC NEWS

Trump implies government could cut contracts and subsidies to Musk’s companies

President Donald Trump has escalated his sudden rupture with Elon Musk by implying the government could sever ties with the tech titan’s businesses.

‘The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts. I was always surprised that Biden didn’t do it,’ Trump wrote Thursday on Truth Social.

Various estimates have been put forward about just how much Musk’s firms, primarily SpaceX and Tesla, benefit from U.S. government contracts and subsidies. The Washington Post has put the figure at $38 billion, with SpaceX President and COO Gwynne Shotwell estimating that company alone benefits from $22 billion in federal spending. Reuters has reported that the true figure is classified because of the nature of many of the contracts Musk’s firms are under.

NASA relies on SpaceX to ferry astronauts to and from the International Space Station. The agency’s only other option at the moment is to pay around $90 million for a seat aboard Russia’s Soyuz capsule.

Last year, SpaceX was selected to develop a vehicle capable of safely de-orbiting the International Space Station in 2030, when NASA and its partner space agencies agreed to end operation of the orbiting laboratory. SpaceX is also expected to play a major role in NASA’s efforts to return astronauts to the moon and eventually travel beyond to Mars.

Later Thursday afternoon, Musk posted that he would begin ‘decommissioning’ SpaceX’s Dragon spacecraft, which regularly flies astronauts and cargo to the ISS, in response to Trump’s threat.

NASA spokesperson Bethany Stevens said the agency ‘will continue to execute upon the President’s vision for the future of space.’

‘We will continue to work with our industry partners to ensure the President’s objectives in space are met,’ she said in a statement on X.

Tesla, meanwhile, has benefited from approximately $11.4 billion in total regulatory credits aimed at boosting electric-vehicle purchases, though that figure also includes state-level subsidies. Musk has claimed he no longer needs the credit, which he says now primarily benefits rivals.

Following Trump’s threat, shares in Tesla, which had already fallen 8% on Thursday as the tit-for-tat escalated on social media, declined as much as 15% following Trump’s post. SpaceX is privately held and its shares do not trade on the open market.

Trump’s warning came as part of a stunning exchange with Musk — who spent more than $250 million to help him get elected — that erupted into public view.

Earlier in the day, president told reporters in the Oval Office that he was disappointed in Musk’s criticism of the Republican policy bill that is making its way through Congress. Musk has blasted the bill, calling it a ‘disgusting abomination,’ amid concerns it would worsen the U.S. fiscal deficit.

Musk, who officially left his White House role last week to spend more time on his companies, spent much of Thursday launching into a tirade on X, his social media platform, where he posted a variety of critiques of Trump, the bill and other Republican politicians.

A make-good on Trump’s threat would come at a sensitive time for Tesla, which has seen global sales plunge partly in response to Musk’s very involvement with the Trump campaign. Year to date, its shares are down some 25%.

Trump’s warning also raises the specter that Trump could resurface pending government investigations into Musk’s firms. According to a report in April from Democratic staff of the Senate Homeland Security Permanent Subcommittee on Investigations, Musk’s firms were facing $2.37 billion in potential federal liabilities when Trump took office in January.

Since then, many of those actions have been paused or outright dismissed alongside the rise of the previously Musk-helmed Department of Government Efficiency, which gutted many of the agencies looking into Musk’s businesses.

This post appeared first on NBC NEWS

Your Weekly Stock Market Snapshot: What It Means for Your Investments

This week, we got a smorgasbord of jobs data — JOLTS, ADP, weekly jobless claims, and the nonfarm payrolls (NFP). Friday’s NFP, the big one the market was waiting for, showed that 139,000 jobs were added in May, which was better than the expected 130,000. Unemployment rate held steady at 4.2%, and average hourly earnings rose 0.4% for the month.

The stock market rallied on the news. The S&P 500 rose above the 6000 level and closed slightly above it. That’s the first time the index has hit the 6K level since February. And the party wasn’t just in the S&P 500. All the major stock market indexes closed higher, and the Cboe Volatility Index ($VIX) closed below 17, suggesting investors are pretty complacent.

Sector Performance: Tech Takes the Lead

When you look at which sectors did best this week, it’s pretty clear that Technology was leading the charge. But is the leadership as strong as it was last year?

To answer, we can begin by taking a look at the MarketCarpet for S&P Sector ETFs below. It clearly illustrates the strength of the Technology sector.

FIGURE 1. WEEKLY PERFORMANCE OF THE S&P SECTOR ETFS. Technology is in the lead while Consumer Staples is the laggard.Image source: StockCharts.com. For educational purposes.

Now, if you drill down, it’s evident from the MarketCarpet of the Technology Sector that heavily weighted large-cap stocks, across the many different categories within the sector, displayed strong performance for the week.

FIGURE 2. WEEKLY PERFORMANCE OF TECHNOLOGY SECTOR. Large-cap heavily weighted stocks were in the green this week.Image source: StockCharts.com. For educational purposes.

Semis Grind Higher

Within tech, the semiconductors look especially strong, with several dark green squares in the MarketCarpet. This warrants a closer look at this industry group.

The weekly chart of the VanEck Vectors Semiconductors ETF (SMH) shows an upside move, with the ETF trading above its 40-week simple moving average. However, SMH is still underperforming the SPDR S&P 500 ETF (SPY). The Relative Strength Index (RSI) is trending higher and is in better shape since the end of March, but needs to gain more momentum to push it into overbought territory.

FIGURE 3. WEEKLY CHART OF VANECK VECTORS SEMICONDUCTOR ETF (SMH). While the price action in SMH is leaning towards the bullish side, it’s underperforming the SPY and needs more momentum.Chart source: StockCharts.com. For educational purposes.

If SMH continues to move higher with strong momentum, it would be a positive indication for the equity markets. However, there are several moving parts that investors should monitor.

Closing Position

While stocks are inching higher on low volatility, news headlines disrupt trends, sometimes drastically.

The weakening U.S. dollar and rising Treasury yields can sometimes signal headwinds for the stock market. Next week is going to be all about inflation, and we’ll get the Consumer Price Index (CPI) and Producer Price Index (PPI) for May.

With the job numbers in the rearview mirror, investors will be focused on inflation, especially since the Fed meets the following week. As of now, the Fed isn’t expected to make any changes to interest rates until perhaps their September meeting. Let’s see if next week’s inflation data changes the picture.

Watch the price action unfold by monitoring the StockCharts MarketCarpets and the StockCharts Market Summary page.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.