Image Source:  A bearish outlook remains, with RSI below 50 and MACD. Selling pressure is declining, indicated by decreasing red MACD bars. In Tuesday’s session, the EUR/GBP pair mildly rose to 0.8440 and is showing that the technical outlook remains mixed. Bears seem to be taking a breather after shedding more than 1% in August, but the overall technical outlook is still pointing at a bearish market. The Relative Strength Index (RSI) remains in negative territory, around 44, with a mildly neutral slope, signaling flattening bearish momentum. The Moving Average Convergence Divergence (MACD) prints decreasing red bars, further reinforcing the flattening bearish traction. The EUR/GBP pair continues consolidating above 0.8400, which serves as immediate support following the sharp declines in August. Resistance is found at 0.8440, and a break above this level could lead to further gains towards 0.8450 and 0.8470. EUR/GBP daily chart  GBP/CHF Edges Lower As Swiss Franc Continues To Outperform EUR/GBP Price Analysis: Consolidating Sideways As Technical Indicators Neutralize USD/JPY Strengthens Further Beyond 143.00, Hits Fresh Daily Peak Amid Modest USD Strength

Image Source: An IntroductionAccording to research from  the AI-powered drug discovery process is expected to grow by a compound annual growth rate of 30% between now and 2030 and, according to Morgan Stanley, should result in as many as 50 novel therapies being brought to market by then and generate annual sales in excess of $50B. The AI-focused Drug Discovery Stocks PortfolioThe 6 AI-focused clinical-stage drug discovery stocks currently trading on Canadian or American stock exchanges are tracked in our AI-focused Drug Discovery Stocks Portfolio are highlighted below, in descending order, for last week (e/e September 6th) and in August, along with a description of their areas of focus, their market capitalizations, their product pipeline and the latest news, analyses and commentary on each, where pertinent: Schrödinger (SDGR): DOWN 2.5% w/e Sept. 6th; DOWN 5.6% in August Area of Focus: uses its platform to discover novel molecules which it leverages to build a pipeline of its own clinical programs in addition to selling access to its platform to other pharmaceutical firms (see details here) Market Capitalization: $1,490M Pipeline: (see here) Latest News, Analyses and Commentary: Schrödinger Among The Best Medical AI Companies AbCellera Biologics (ABCL): DOWN 6.6% w/e Sept. 6th; DOWN 21.5% in August Area of Focus: searches for antibodies from natural immune responses which are then outsourced to their partners. (see details here) Market Capitalization: $704M Pipeline: (see AbCellera Biologics) Latest News, Analyses and Commentary: AbCellera Biologics Is A Top Contender Among Canada’s Best Penny Stocks in 2024 The Consensus Just Cut Its AbCellera Biologics Estimates For 2024 Relay Therapeutics (RLAY): DOWN 8.1% w/e Sept. 6th; DOWN 17.4% […]

ING Bank photo from Wikimedia Commons and used under a Creative Commons License. ING Bank , saying the gold rally is “just getting started.”The Dutch financial group cites the prospect of a Federal Reserve rate-cutting cycle, geopolitical risks, and uncertainty going into the presidential election as potential catalysts to drive gold to new record highs. The report also noted several bullish trends supporting the gold price.ING now projects gold to average $2,700 an ounce in 2025.According to ING, the “most anticipated” Federal Reserve rate cut in decades is by far the biggest factor driving the current gold market. During his recent Jackson Hole speech, Federal Reserve Chairman Jerome Powell gave the clearest indication yet that rate cuts are on the horizon saying, “The time has come for policy to adjust. The direction of travel is clear.”The ING report says the only question remaining is the pace of cuts. ING analysts note that gold is a non-yielding asset and tends to benefit from a low interest rate environment.  The Quiet Part  What the ING analysts don’t say out loud is this so-called victory over price inflation .Lowering interest rates and ending will increase the money supply, and the expansion of the money supply is, , inflation.The Fed has tightened things up just enough to slow rising prices, but it hasn’t come close to wringing the pandemic-era inflation out of the economy. The central bank pumped nearly $5 trillion into the economy through  alone. That was on top of the credit expansion incentivized by artificially low […]

Image Source: The stock market seems to be experiencing some mixed action ahead of key events, with the S&P 500 and Nasdaq extending their gains thanks to strength in tech stocks, while the Dow Jones struggled, weighed down by a few underperformers. Oracle’s () surge, driven by its strong earnings and partnership with Amazon Web Services, highlights the continued optimism around tech, but Apple’s () 1.6% decline following its legal setback serves as a reminder that even the biggest names can face challenges.Investors are clearly focused on the upcoming CPI report, which could offer crucial insights into the Federal Reserve’s next move. The market is largely betting on a 25bps rate cut next week, but there’s still some speculation around a more substantial 50bps cut, depending on how the inflation data plays out. The comments from Fed officials like Christopher Waller and John Williams suggest that the Fed is ready to lower rates, but they’re closely watching the economic data to determine the size of the cut.The dollar’s strength and the decline in Treasury yields reflect the market’s expectation that rate cuts are on the way, though the exact magnitude remains uncertain. With the August CPI and PPI reports coming in the next couple of days, those data points will likely set the tone for both the Fed’s decision and the market’s reaction.Overall, the market’s attention is divided between these key economic data releases and the ongoing political developments, such as the debate between Kamala Harris and Donald Trump, which could also […]

This past weekend, we received this question from a reader. The question is in reference to our recent article, . Specifically, the article points out that historically, stocks tend to do poorly when the yield curve exhibits a bullish steepening. However, gold miners and gold have both averaged positive returns during such yield curve shifts. Moreover, during these periods, gold miners produced a better return than gold. Therefore, the question from our reader is, are gold miners better than gold if the yield curve continues to steepen bullishly?While our data on the last five bull steepenings argues the answer is yes, historically, gold miners have been a poor substitute for gold. As shown in the graph below, since 1994, the NYSE Gold BUGS Index (HUI), which tracks gold miner stocks, has been up a mere 38%. At the same time, gold has risen over 10x that amount (540%). Miners should provide better returns during gold bull markets as they are leveraged to the price of gold. However, time and time again, we find that faulty management decisions more than offset the benefits of leverage. This is not to say all gold miners underperform or will underperform gold. But choose wisely if you decide to invest in a gold miner over gold.(Click on image to enlarge) What To Watch Today Earnings(Click on image to enlarge) Economy No notable economic reports today.  Market Trading Update the market broke through the 50-DMA on Friday testing initial support at the 100-DMA. The good news is that the market bounced […]

In September, Silver has given back much of the gains it made in August. However, despite the current corrective pullback, the overall bullish outlook remains intact in the short term, especially once this correction is confirmed to be complete. This analysis will explore where and when the next phase of the August rally is likely to resume. Long-Term Chart AnalysisSilver has been in a strong bullish sequence since October 2023. Although the commodity experienced a substantial pullback during December 2023 and January 2024, the underlying strength of the bullish trend has persisted. Silver rallied strongly from January 2024, reaching a fresh high for the year in May. After that high, another significant pullback took place, but the recovery seems to be back on track, provided the current dip from late August does not break the key support level at $26.515. As long as prices remain above this level, the broader bullish structure remains intact. Daily Chart AnalysisOn the daily chart, the rally from January 2024 completed an impulsive wave structure, labeled as wave A (circled) of the primary degree. Following this, the pullback from the May 2024 high completed a double zigzag corrective pattern, which ended in August 2024. The key level here is $26.515, from which we expect Silver to embark on a new impulsive rally that will form wave C (circled) of the primary degree. According to technical projections, wave C (circled) has the potential to push prices up to $37.15 in the coming weeks or months.For this bullish impulse to unfold, the current corrective dip—labeled as wave (2) of C (circled)—must remain […]