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Partnership with Leading Colombian Mining Group to Formalize Artisanal Mining Production and Accelerate Exploration

Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) (‘Quimbaya Gold’ or the ‘Company’) is pleased to announce the signing of a binding Letter of Intent with Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF), establishing a 50:50 joint venture aimed at formalizing existing small-scale mining operations located within the Company’s Tahami Project, located in the Segovia Gold District of Antioquia, Colombia.

This collaboration seeks to integrate artisanal mining operations into a formalized structure to create mutually beneficial partnerships while supporting and empowering the host communities. Importantly, this initiative complements Quimbaya’s ongoing exploration efforts, including its planned 4,000-meter drilling campaign at Tahami South, by fostering stronger community relations and facilitating access to key areas. Both parties are working diligently to finalize a definitive agreement as soon as possible, subject to customary regulatory and corporate approvals.

Joint Venture Highlights

  • 50:50 Production Partnership: Equal profit sharing between Quimbaya and Denarius (via Zancudo Metals Corp.). Denarius will provide technical and financial support so that the artisanal miners can legalize their production within the mining legalization program.

  • Joint development targeted on the Tahami South and Tahami North areas within the Tahami Project. Exploitation will focus on concessions SHO-08001, SE9-13331, LJQ-08001 and HHII-21 owned by Quimbaya.

  • Formalization of Existing Activities: The partnership aims to formalize current artisanal mining operations, aligning with successful models in the region.

  • Support for Exploration: By formalizing artisanal mining activities, the joint venture enhances community engagement, supporting Quimbaya’s ongoing drilling and exploration initiatives.

  • Upcoming Cash Flow Opportunity: Upon finalizing the definitive agreement, efforts will commence to generate cash flow from the existing small-scale mining operations.

  • Complementary Strategy: This joint venture complements Quimbaya’s exploration objectives, ensuring continued focus on making a high-grade discovery at Tahami.

Figure 1. Location map of the Tahami South Project, adjacent to Aris Gold’s Segovia mine.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/251048_6abcb253d488a8a7_001full.jpg

Strategic Importance

This agreement allows Quimbaya to tap into a proven model of success already active in the Segovia-Remedios Mining District (‘DMSR’ by its initials in Spanish), where formalized artisanal mining contributes to Aris Mining’s neighboring gold production. By partnering with Denarius – led by Serafino Iacono, a key figure behind the rise of Gran Colombia Gold (now Aris Mining), which was the largest underground gold and silver producer in Colombia for many decades and with current gold production of over 200,000 ounces per year from three main mines in the high-grade DMSR – Quimbaya gains access to a team with deep experience in turning artisanal mining into structured, profitable operations that benefit both communities and shareholders.

Figure 2. Location Map of the Tahami North Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/251048_6abcb253d488a8a7_002full.jpg

‘This is a pivotal step for Quimbaya,’ said Alexandre P. Boivin, President and CEO of Quimbaya Gold, ‘ as partnering with one of the most experienced exploration and mining teams in Colombia will not only allow Quimbaya to quickly leverage this existing opportunity, but also to deliver on our community objective of helping formalize artisanal miners, while we continue advancing our broader exploration and drilling plans to make a high-grade gold discovery on the Tahami South property.’

About the Tahami Project

Located adjacent to Aris Mining’s flagship Segovia Operations-one of the highest-grade underground gold producers globally-the Tahami Project spans over 17,000 hectares across a district-scale vein system that shows analogies with the DMSR, with historic artisanal activity and substantial exploration upside. The area is supported by existing infrastructure, a favorable mining jurisdiction, and a strong tradition of gold production.

Figure 3. General map of the Tahami Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/251048_6abcb253d488a8a7_003full.jpg

Qualified Person statement – Ricardo Sierra BSc. Geology, MAusIMM (3078246)

Quimbaya’s disclosure of technical and scientific information in this press release has been reviewed and approved by Ricardo Sierra (AusIMM), the Vice President Exploration for the Company, who is a Qualified Person as defined in National Instrument 43-101.

Completion of Corporate Continuance to British Columbia

The Continuance was approved by the shareholders of the Company at the annual general and special meeting of shareholders held on March 28, 2025 (the ‘Meeting’). The principal effects of the Continuance are set out in the management information circular for the Meeting dated February 14, 2025 (the ‘Circular’). Copies of the Circular and charter documents for the Continuance are available on SEDAR+ under the Company’s profile at www.sedarplus.ca.

About Quimbaya Gold Inc.

Quimbaya Gold Inc. is a Canadian junior exploration company focused on discovering gold resources through the exploration and acquisition of mining properties in Colombia’s prolific mining districts. The Company is actively advancing three projects in the Antioquia Province: the Tahami Project in Segovia, the Berrio Project in Puerto Berrio, and the Maitamac Project in Abejorral. Managed by an experienced team with deep local knowledge, Quimbaya is committed to creating value for its shareholders through strategic exploration and development initiatives.

Contact Information

Alexandre P. Boivin, President and CEO
apboivin@quimbayagold.com
+1-647-576-7135‎

Jason Frame, Manager of Communications
jason.frame@quimbayagold.com

Quimbaya Gold Inc.
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Cautionary Statements

Certain statements contained in this press release constitute ‘forward-looking information’ as that term is defined in applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’, ‘expects’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. Forward-looking information by its nature is based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Quimbaya to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These assumptions include, but are not limited to: the joint venture will be completed on the terms set forth in the letter of intent, the parties will perform their obligations under the joint venture and the results of the joint venture will be as expected. Although Quimbaya’s management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Quimbaya as of the date of this news release and, accordingly, is subject to change after such date. Except as required by law, Quimbaya does not expect to update forward-looking statements and information continually as conditions change.

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251048

News Provided by Newsfile via QuoteMedia

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Golden State All-Star guard Steph Curry is day-to-day and will undergo an MRI on Wednesday, according to Warriors coach Steve Kerr.

Curry exited Tuesday night’s Game 1 against the Minnesota Timberwolves and went to the locker room with what appeared to be left hamstring discomfort at 8:19 of the second quarter. The Warriors later announced Curry would not return. The Warriors stole the opener, 99-88.

“I talked to him at halftime,” Kerr said after the game. “He’s obviously crushed, but the guys picked him up and played a great game. Obviously we’re all concerned about Steph, but it’s part of the game. Guys get hurt, you move on.

‘Our guys did a great job of moving on and getting a great win 48 hours after a Game 7 road win. It’s an amazing group of guys. These guys — they compete, they’re together. We’ve been the best defense in the league since the Jimmy trade, and that’s what’s keeping us afloat right now.”

Game 2 is Thursday (8:30 p.m. ET, TNT) in Minneapolis.

Curry was grabbing at his left hamstring area multiple times in the second quarter, and after Draymond Green made a 3-pointer and Minnesota called timeout, Curry left the game with the Warriors leading 30-20. The Warriors’ victory gave road teams a 5-0 start to the second round, an NBA record.

Curry had 13 points on 5-for-9 shooting, including 3-for-6 on 3-pointers. After his last made shot, he motioned for Kerr to sub him out, and Brandin Podziemski checked in as Curry headed to the locker room.

The 11-time All-Star had another outstanding season (24.5 points, 6.0 assists, 4.6 rebounds per game and 39.7% 3-point shooting) and his ability to perform like that at 37 years old is a major reason why the Warriors acquired Jimmy Butler from Miami in a trade deadline deal in February. Since acquiring Butler, the Warriors have been one of the best teams in the league.

The seventh-seeded Warriors defeated the second-seeded Houston Rockets in seven games in the first round, and Curry averaged 24.0 points, 5.9 rebounds, 5.7 assists and 1.1 steals and shot 47.1% from the field and 39.2% on 3s against Houston.

(This story has been updated with new information).

This post appeared first on USA TODAY

Two weeks ago, Shedeur Sanders was expected to be a first-round pick in the 2025 NFL draft. The consensus No. 2 quarterback in the class led college football in completion percentage in 2024 and helped the Colorado Buffaloes to their first nine-win season since 2014.

But Sanders slid from Round 1 to Round 5 as the Cleveland Browns traded up to secure a potential starting quarterback for the 2025 season.

His slide was the biggest storyline of draft weekend. Now, a Colorado Buffaloes fan is seeking $100 million in damages in a lawsuit filed against the NFL for Sanders’ drop to the fifth round, according to a filing obtained by USA TODAY.

The plaintiff – referred to as John Doe in the filing – alleges in the complaint that ‘the NFL’s actions and the dissemination of slanderous statements have caused severe emotional distress and trauma.’

Per the filing, Doe is a Georgia resident and a ‘dedicated fan of Colorado football’ who attended the Colorado vs. TCU football game in 2023. The Buffaloes won 45-42 as Sanders completed 38 of 47 passes for 510 yards and four touchdowns.

Doe alleges that the reports of Sanders’ performance in interviews ‘contributed to a narrative that has unjustly harmed his reputation as and potential as a player.’

The filing alleges the NFL violated:

  • The Sherman Antitrust Act because teams colluded to influence Sanders’ fall to the fifth round;
  • The Civil Rights Act because that fall ‘may have been influenced by racial discrimination’
  • Consumer protection laws because the league misrepresented the ‘nature of the drafting process and qualifications of players.’

The plaintiff is seeking $100 million in punitive damages.

The lawsuit was filed in a U.S. District Court in Atlanta. At the time of publishing, the NFL has not put out a statement in response to the lawsuit.

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Jacob Slavin’s goal 3:06 into overtime gave the Carolina Hurricanes a 2-1 victory Tuesday over the host Washington Capitals in Game 1 of their Stanley Cup Playoff second-round matchup.

The defenseman’s first overtime playoff goal came on the Hurricanes’ 94th shot attempt of the game (their 33rd on net). Logan Stankoven scored his third goal of the postseason and Jesperi Kotkaniemi set it up. Jordan Martinook and Dmitry Orlov assisted on the game-winner.

Frederik Andersen made 13 saves in his first action since leaving in the second period of Game 4 of Carolina’s first-round series with the New Jersey Devils on April 27.

Aliaksei Protas scored his first career playoff goal for the Capitals, with Brandon Duhaime and John Carlson earning assists. Thompson, meanwhile, stopped 31 shots while under pressure all night.

Carolina set the tone in the first period, outshooting the Capitals 12-5. None went past Thompson, though, as just three of those came from near the net. Washington also blocked 15 shot attempts in the period and had 32 for the game.

Despite that control, it was the Capitals who struck first 3:52 into the second. Carlson cleared the puck from the Carolina attack zone and Duhaime was able to spring Protas, who skated along the boards and beat the drawn-out netminder on a wrist shot from the right circle.

Protas scored in just his second game back after recovering from a deep cut he suffered to his left foot in an April 4 game against the Chicago Blackhawks.

The goal did not change the style of play as the Hurricanes continued to pepper shot attempts. They had 70 through the first two periods. However, it took a turnover near the Capitals’ net midway through the third period that allowed the Hurricanes to even the score.

Kotkaniemi got the puck after Capitals defenseman Alexander Alexeyev lost it in the left faceoff circle. The Finnish forward found Stankoven in the slot, and the 22-year-old, acquired in the Mikko Rantanen trade two months ago, capitalized on the Capitals’ mistake with 10:18 left in regulation.

Carolina won despite losing center Mark Jankowski, who sustained an undisclosed injury.

Jankowski, appearing in his third game of this year’s playoffs, was last on the ice with 4:42 remaining in the second period.

Edmonton Oilers rally past Vegas Golden Knights

Zach Hyman scored the go-ahead goal with 3:02 remaining and Connor Brown sealed the win 76 seconds later as the Edmonton Oilers rallied to defeat the Vegas Golden Knights, 4-2, in Game 1 of the Western Conference second round on Tuesday night in Las Vegas.

Hyman buried a wrist shot from the slot past goalie Adin Hill’s glove side for the game-winner — his third tally of the playoffs.

Brown added his fourth goal when he deked defenseman Shea Theodore at the blue line, broke down the slot and fired a wrist shot past Hill’s glove side. That completed the Oilers’ fifth straight comeback victory in the playoffs.

Leon Draisaitl had a goal and an assist, Connor McDavid and Evan Bouchard each had two assists and Corey Perry also scored for Edmonton, which had a four-game playoff winning streak snapped. Calvin Pickard finished with 15 saves.

Mark Stone scored both goals and Hill made 24 saves for Vegas, which had a streak of five Game 1 playoff wins snapped. Stone moved into a tie with Jonathan Marchessault for the franchise record with 36 postseason goals.

Vegas took a 1-0 lead at the 2:13 mark of the first period on a power-play goal by Stone. Vegas took advantage of an early double-minor penalty on Ryan Nugent-Hopkins for high-sticking Tomas Hertl along the end boards.

The score came on a double deflection of Theodore’s point shot, which changed direction off the stick of William Karlsson and then deflected off Stone’s stick, clanged off the left post and went into the net.

Stone made it 2-0 midway through the period with a wrist shot from the low slot five-hole. It came off Jack Eichel’s pass.

The Oilers cut the deficit to 2-1 near the end of the period when Perry took a pass from McDavid by the left side of the crease and then wrapped a wrist shot around Hill’s left pad. It was his third goal of the playoffs.

Edmonton dominated a scoreless second period, outshooting the Golden Knights 12-1, but couldn’t take advantage of two power plays. Adam Henrique had the best chance to tie it, but his wrist shot from the high slot caromed off the crossbar.

The Oilers tied it 2-2 just 57 seconds into the third period when Draisaitl, behind the goal line, backhanded a rebound of Bouchard’s shot that banked in off the back of Hill’s right leg. It was his fourth goal of the playoffs.

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Shedeur Sanders wasn’t the first player in NFL draft history to be taken later than expected and he won’t be the last. At the very least, he won’t be alone.

In some ways, Sanders joined some good company after sliding down the board.

Sanders was selected by the Cleveland Browns with the 144th overall pick in the 2025 NFL Draft. Rumors swirled that the Colorado quarterback could’ve been taken 142 picks earlier by the same team, but landing in the fifth round was clearly a shock.

Tom Brady knows a thing or two about being drafted late in the process after he was famously selected with the 199th pick in the 2000 NFL Draft. The future Hall of Fame quarterback turned NFL on Fox broadcaster and part-owner of the Las Vegas Raiders had some words for the prospect.

During an appearance on the IMPAULSIVE podcast, Brady shared that he spoke with Sanders via text.

‘I actually texted Shedeur because I know him very well,’ Brady said. ‘And I said, ‘Dude, whatever happens, wherever you go, that’s your first day. Day 2 matters more than the draft.’ I was 199. So who can speak on it better than me? Like what that really means. Use it as motivation, you’re going to get your chances and go take advantage of it.’

Brady added that it’s about Sanders’ performance at this point, highlighting some of his teammates that also weren’t picked early in the draft.

‘I was around some of the best players who were undrafted free agents. They were Rodney Harrison. Rodney Harrison wasn’t a high pick. Julian Edelman wasn’t a high pick. Wes Welker wasn’t a high pick. Danny Amendola. All those guys were phenomenal players. So what’s it matter than some overhyped day where a lot of people are selling stories and saying, ‘Alright this is the big day and this is the draft and it’s an important day and it’s fun and I love you know watching it and seeing it?”

The seven-time Super Bowl champion pointed out that he’s been there on Day 2 when those players are tasked with learning a playbook and becoming part of the locker room.

Sanders will have a long road ahead of him in order to compete for the Browns’ starting gig. Heading into training camp, he’s likely the fifth quarterback on the depth chart. He’ll likely slide up to fourth as long as Deshaun Watson remains sidelined.

Still, Sanders will have to leap over Joe Flacco, Kenny Pickett and fellow 2025 draft pick Dillon Gabriel to land a roster spot.

The odds for a fifth-round pick to do that are certainly stacked against him. Of course, Sanders isn’t a normal fifth-round pick.

He also has the greatest quarterback of all time in his corner. It remains to be seen if that will count for something in Cleveland.

All the NFL news on and off the field. Sign up for USA TODAY’s 4th and Monday newsletter. Check out the latest edition: Looking ahead to the 2025 NFL schedule release.

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Indiana Pacers star Tyrese Haliburton had an injury scare during Game 2 against the Cleveland Cavaliers.

In the second quarter of Indiana’s Eastern Conference semifinal matchup against the Cavaliers, Haliburton was awaiting a defensive rebound when he got bumped by Jarrett Allen and Craig Porter Jr. It appeared he got his left hand caught in the the bump and he ran off toward his team’s bench in visible pain.

Haliburton was then holding his left hand as he made his way back down the court.

Haliburton didn’t miss any action, but he got X-rays on his left wrist at halftime, according to TNT sideline reporter Jared Greenberg. His left wrist was taped up as he came out for the second half but he continued to play in Game 2.

The injured wrist turned out not to be a major concern for the rest of Tuesday night’s game. After a pedestrian start to the night, Haliburton picked up his game in the second half as he propelled his team back from an 11-point halftime deficit.

Down two points in the final seconds, Haliburton hit a step back 3-pointer with one second left to stun Cleveland and give the Pacers the victory and a 2-0 series lead. He finished with 19 points, nine rebounds and four assists.

Tyrese Haliburton update on wrist

There wasn’t much concern from Haliburton his left wrist postgame. He told reporters the wrist is sore but indicated he will be good for Game 3.

‘It’s fine,’ Haliburton said. ‘Obviously, a little sore.’

Haliburton will also get some time to rest the left wrist before Indiana’s next contest. Game 3 against Cleveland will be Friday at Gainbridge Fieldhouse.

(This story was updated to add new information.)

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Amazon’s Zoox issued a software recall for 270 of its robotaxis after a crash in Las Vegas last month, the company said Tuesday.

The recall surrounds a defect with the vehicle’s automated driving system that could cause it to inaccurately predict the movement of another car, increasing “the risk of a crash,” according to a report submitted to the National Highway Traffic Safety Administration.

Zoox submitted the recall after an April 8 incident in Las Vegas where an unoccupied Zoox robotaxi collided with a passenger vehicle, the NHTSA report states. There were no injuries in the crash and only minor damage occurred to both vehicles.

“After analysis and rigorous testing, Zoox identified the root cause,” the company said in a blog post. “We issued a software update that was implemented across all Zoox vehicles. All Zoox vehicles on the road today, including our purpose-built robotaxi and test fleet, have the updated software.”

Zoox paused all driverless vehicle operations while it reviewed the incident. It’s since resumed operations after rolling out the software update.

Amazon acquired Zoox in 2020 for over $1 billion, announcing at the time that the deal would help bring the self-driving technology company’s “vision for autonomous ride-hailing to reality.” However, Amazon has fallen far behind Alphabet’s Waymo, which has robotaxi services operating in multiple U.S. markets. Tesla has also announced plans to launch a robotaxi offering in Austin in June, though the company has missed many prior target dates for releasing its technology.

Zoox has been testing its robotaxis in Las Vegas, Nevada, and Foster City, California. Last month, Zoox began testing a small fleet of retrofitted vehicles in Los Angeles.

Last month, NHTSA closed a probe into two crashes involving Toyota Highlanders equipped with Zoox’s autonomous vehicle technology. The agency opened the probe last May after the vehicles braked suddenly and were rear-ended by motorcyclists, which led to minor injuries.

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In this video, Dave reveals four key charts he’s watching to determine whether the S&P 500 and Nasdaq 100 will be able to power through their 200-day moving averages en route to higher highs. Using the recently updated StockCharts Market Summary page, he covers moving average breadth measures, his proprietary Market Trend Model, offense vs. defense ratios, and the Bullish Percent Indexes.

This video originally premiered on May 5, 2025. Watch on StockCharts’ dedicated David Keller page!

Previously recorded videos from Dave are available at this link.

Communication Services Drops to #5

The composition of the top five sectors remains largely stable this week, with only slight adjustments in positioning. Consumer staples continue to lead the pack, followed by utilities, financials, real estate (moving up one spot), and communication services (dropping to fifth). This defensive lineup persists despite a rallying market, presenting an interesting dilemma for sector rotation strategies.

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

Weekly RRG

The weekly Relative Rotation Graph (RRG) paints a picture of potential change on the horizon.

While staples, utilities, real estate, and financials maintain their positions in the leading quadrant, they show signs of losing relative momentum over the past few weeks.

Financials, particularly, are teetering on the edge of rolling into the weakening quadrant.

Communication services have already shifted, now firmly in the weakening quadrant and traveling on a negative RRG heading. This movement explains its drop to the fifth position in our sector rankings.

Daily RRG

Switching to the daily RRG, we see a slightly different picture for our top sectors.

Staples, utilities, real estate, and financials are all positioned in the weakening quadrant, traveling on negative RRG headings.

This short-term view indicates that we must closely monitor these sectors to determine if they can regain momentum before potentially dropping out of the top five.

Interestingly, communication services is showing signs of life on the daily chart. Despite falling to the fifth position overall, its tail is now in the improving quadrant and moving toward leading.

The caveat? It’s a very short tail, close to the benchmark—essentially moving in line with the market. This makes communication services the sector most at risk of losing its top-five status in the near term.

Consumer Staples

Consumer staples is bumping up against overhead resistance between $82.50 and $83.

This hesitation in upward price movement is causing weakness in the RS line, which has started to dip.

Consequently, the RS momentum line is rolling over. However, the high RS ratio—indicating a strong relative trend—is keeping staples at the top of our list for now.

Utilities

Utilities has been flirting with a breakout since the start of 2025, pushing against overhead resistance around $80 about four times already.

When it breaks, we’ll likely see an acceleration towards the all-time high just above $82.50.

Like staples, the inability to break resistance is causing a stall in the RS line and a rollover in relative momentum.

Financials

After a strong rally off the $42 support level, previously resistance (the old technical adage holds true), financials is now facing a challenge.

The rally is approaching the former rising support level that marked the uptrend channel. This could cause some hesitation in both price and relative strength.

The RS line remains within its rising channel, but momentum has waned, causing the green RS momentum line to roll over.

Real-Estate

Real estate moved up one position to fourth and is still emerging from a long relative downtrend that began in April 2022.

The RS ratio line has picked up the relative strength rally that started in early 2025 but is now stalling.

This has resulted in the green RS momentum line rolling over. On the price chart, real estate is mid-range with room to move higher.

Communication Services

Communication services have dropped to the fifth position, but the price chart has an interesting development.

Last week, the price broke back above the old neckline of a small head-and-shoulders pattern. The fact that we’re now rallying above this neckline could indicate a failed head-and-shoulders pattern—usually a very strong bullish sign.

However, recent weakness in relative strength has pushed the sector deeper into the weakening quadrant on the RRG.

This sector must pick up rapidly in the coming weeks to maintain its position in the top five.

Portfolio Performance

The defensive positioning of our top five sectors is leading to underperformance as the broader market rallies.

Currently, we remain at approximately a 3% underperformance compared to SPY just like last week.

However, from the perspective of sector rotation, we must still consider this rally in the S&P 500 to be temporary.

The underlying message continues to emphasize defense.

It’s important to remember that there is always a lagging element in RRGs and this strategy.

If the market has truly turned, we will see that shift reflected in our sectors, and at some point, we will start to make up the difference.

These performance gaps can change very rapidly in favor of the RRG portfolio when the market comes under pressure and our defensive sectors start to lead again.

#StayAlert and have a great week — Julius