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December 14, 2024

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Identifying GREAT Trades and Looking Ahead to 2025 Using RRG Charts

There are a number of ways that you can find great trading opportunities. One way is to simply follow a chart on a WatchList and wait for certain indicators to reach “buy” points. For instance, an uptrending stock many times will find support as its 20-day EMA is tested or when its RSI approaches 40 during pullbacks. For this article, however, I want to show you an interesting way to use RRG charts to accomplish the same thing, only RRG charts might be better for traders who visualize movements better when comparing relative moves.

Live Nation (LYV) is in the communication services (XLC) sector and from early-August through late-November, it was in a stealth uptrend outpacing nearly all stocks on a relative basis as it gained over 60% in that 3 1/2 month span. I like to see 20-day EMA tests and this one is quite clear:

There’s a lot to like here as LYV’s industry group – broadcasting & entertainment ($DJUSBC) – is now showing much better relative strength to the S&P 500. In other words, money is rotating INTO the entertainment area and, as an industry group leader, LYV is reaping the rewards. The early-December selloff has taken LYV out of overbought territory on its RSI and allowed it to test its rising 20-day EMA, setting up for a bounce.

If I use the weekly and daily RRG charts and dissect the component stocks within the communication services sector, here’s what I find:

Weekly RRG – XLC

I’ve highlighted LYV as it’s the furthest XLC component stock to the right and in the leading quadrant, showing both strong bullish momentum and excellent relative strength. That tells us that we have a stock worth watching for possible trade setups during periods of short-term selling. For that short-term selling and how it looks on a daily RRG, let’s drill down to that time frame and check it out.

Daily RRG – XLC

Once again, I’ve highlighted LYV so that you can visualize its movement from an RRG perspective. From experience, many leading stocks will have short-term pullbacks where they move all the way through the Weakening quadrant, only to turn higher and head back towards the Leading quadrant. LYV’s sharp chart would show this as a rally back to test the recent price high. If and when that occurs, we’ll see LYV’s daily RRG chart turn back towards the Leading quadrant. But my point here isn’t whether LYV moves higher again for us to make money. Instead, I’m simply pointing out how healthy stocks will look on their weekly and daily RRGs. The weekly chart will highlight a stock’s powerful recent move higher and the daily chart will help us to identify those bullish stocks, and possible entry points, that are experiencing short-term weakness.

As a swing trader, this is EXACTLY what we want to look for.

Huge RRG Event

Saturday morning at 10:00am ET, Julius de Kempenaer, Sr. Technical Analyst here at StockCharts.com and the founder and creator of RRG charts, will join me for a FREE (no credit card required) EarningsBeats.com event, “Key Rotation Into 2025”, where we’ll use RRG charts to show everyone the critical rotation that’s taking place now that will likely help shape the direction of our major indices during the balance of 2024 and throughout 2025. For more information and to register for the event, CLICK HERE.

If you cannot make the event live, those registering will receive a copy of the recording of the event that you can check out at your earliest convenience. So please register NOW and save your seat!

Happy trading!

Tom

Will the QQQ Sell Off in January? Here’s How It Could Happen

In recent interviews for !

And remember, the point of this exercise is threefold:

  1. Consider all four potential future paths for the index, think about what would cause each scenario to unfold in terms of the macro drivers, and review what signals/patterns/indicators would confirm the scenario.
  2. Decide which scenario you feel is most likely, and why you think that’s the case. Don’t forget to drop me a comment and let me know your vote!
  3. Think about how each of the four scenarios would impact your current portfolio. How would you manage risk in each case? How and when would you take action to adapt to this new reality?

Let’s start with the most optimistic scenario, with the QQQ achieving a new all-time high over the next six to eight weeks.

Option 1: The Very Bullish Scenario

For the most bullish scenario, I basically assumed that the uptrend we’ve observed since September continues at a very similar pace. That would mean the QQQ could reach up to around $560 or so by the end of January. For that to happen, we’d need charts like NVDA to resume their uptrends, charts like META to hold their recent breakout levels, and all the other sectors to resume a more bullish configuration!

Dave’s Vote: 10%

Option 2: The Mildly Bullish Scenario

What if the Magnificent 7 names slow down a bit, and even though other sectors like financials and industrials begin to outperform, it’s just not enough to push the benchmarks much higher? Scenario 2 would mean a slower pace to the recent advance, but the bullish phase would still keep the QQQ this week’s close around $530. Perhaps the Fed meeting next week suggests a more measured pace to rate cuts in early 2025, and investors grow a bit more skeptical that this market euphoria will continue.

Dave’s vote: 20%

Option 3: The Mildly Bearish Scenario

The bearish scenarios basically assume that this week’s high is about it, and that even though we may drift a bit higher into year end, January 2025 looks a lot like January 2022. The mildly bearish Scenario means we pull back a bit, but not enough to push the Nasdaq 100 below “big round number” support at $500.

There are a number of ways this could play out, but perhaps the first run of economic data in January, combined with a disappointing beginning to earnings season, makes us all realize that the euphoria of 2024 is now in the rearview mirror!

Dave’s vote: 60%

Option 4: The Super Bearish Scenario

You always need a super bearish scenario, if only to remember that it’s always a possibility regardless of whatever’s happened in recent months! Scenario 4 would mean about a 15% decline in January, which would actually be a fairly reasonable corrective move based on market history.

If economic data shows that inflation is not remaining in the 2-3% range, or if earnings season is punctuated by a series of high profile misses, or if the Magnificent 7 all begin breaking down, this super bearish scenario could become a reality in short order.

Dave’s vote: 10%

What probabilities would you assign to each of these four scenarios?  Check out the video below, and then drop a comment with which scenario you select and why!

RR#6,

Dave

P.S. Ready to upgrade your investment process? Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

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.

The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

Quetzal Copper Provides Update on Financing

Quetzal Copper Corp. (TSXV: Q) (‘Quetzal’ or the ‘Company’) announces a non-brokered private placement (the ‘Offering’) for aggregate gross proceeds of up to C$3,000,000, from the sale of the following:

  • up to 6,666,666 units of the Company (the ‘Units‘) at a price of C$0.15 per Unit for gross proceeds of up to C$1,000,000 from the sale of Units; and
  • up to 11,764,705 flow through units of the Company (the ‘FT Units‘) at a price of C$0.17 per FT Unit for gross proceeds of up to C$2,000,000 from the sale of FT Units. Each FT Share will be issued as a ‘flow-through share’ within the meaning of the Income Tax Act (Canada).

Each Unit and FT Unit issued under the Offering shall consist of one common share in the capital of the Company (each, a ‘Common Share‘) and one-half of one Common Share purchase warrant (each whole warrant, a ‘Warrant‘). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.25 per Common Share for a period of 24 months from the closing of the Offering (the ‘Closing‘).

The Offered Securities will be offered by way of the ‘accredited investor’ exemption under National Instrument 45-106 – Prospectus Exemptions in all the provinces of Canada.

The Offered Securities will be subject to a statutory hold period in Canada ending on the date that is four months plus one day following the closing date of the Offering.

The Units may also be sold in offshore jurisdictions and in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933 (the ‘U.S. Securities Act‘), as amended.

The Company intends to use the net proceeds from the sale of Units for exploration and development activities and general corporate purposes. The gross proceeds from the sale of the FT Shares will be used by the Company to incur eligible ‘Canadian exploration expenses’ that will qualify as ‘flow-through critical mineral mining expenditures’ as such terms are defined in the Income Tax Act (Canada) (the ‘Qualifying Expenditures‘) related to the Company’s Princeton and Dot projects in British Columbia, Canada. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Shares effective December 31, 2024.

The Offering is scheduled to close on or around December 18, 2024, and is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the acceptance of the TSX Venture Exchange (the ‘TSXV‘). A cash commission and finder’s warrants may be paid to arm’s length finders on a portion of the Offering. The Unit Shares, FT Shares and Warrant Shares will be subject to a hold period ending on the date that is four months plus one day following the issue date of such securities under applicable Canadian securities laws.

In connection with the Offering, Quetzal Copper also announces that the Company has terminated the brokered private placement for gross proceeds of up to C$3,000,000 as announced on November 18, 2024.

About Quetzal Copper

Quetzal is engaged in the acquisition, exploration, and development of mineral properties in British Columbia and Mexico. Quetzal currently has a portfolio of three properties located in British Columbia, Canada, and one in Mexico. The Company’s principal project, Princeton Copper, is located adjacent to the producing Copper Mountain mine in southern British Columbia.

Quetzal Copper Corp.
Matthew Badiali, CEO
Phone: (888) 227-6821

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 STATEMENTS

The information contained herein contains ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995 and ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. ‘Forward-looking information’ includes, but is not limited to, statements with respect to the activities, events, or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as ‘plans’, ‘expects’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’, or ‘believes’ or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will be taken’, ‘occur’ or ‘be achieved’ or the negative connotation thereof. Forward-looking statements in this news release include, among others, the anticipated closing date of the Offering, and statements relating to exploration and development of the Company’s properties.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated, accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233816

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

PROSPECT RIDGE RESOURCES ADJOURNS ANNUAL GENERAL MEETING

Prospect Ridge Resources Corp. (the ‘ Company ‘ or ‘ Prospect Ridge ‘) (CSE: PRR) (OTC: PRRSF) (FRA: OED) announces that it has adjourned its annual general meeting (for more information, see news release dated December 12, 2024 ), to reconvene on Friday, December 20, 2024 at 11:30 AM (Pacific Time) at Suite 430, 605 Robson Street, Vancouver British Columbia.  Proxies will continue to be accepted until 48 hours prior to the commencement of the adjourned meeting.

About Prospect Ridge Resources Corp.

Prospect Ridge Resources Corp. is a British Columbia based exploration and development company focused on gold exploration. Prospect Ridge ‘ s management and technical team cumulate over 100 years of mineral exploration experience and believe the Knauss Creek and the Holy Grail properties to have the potential to extend the boundaries of the Golden Triangle to cover this vast under-explored region.

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

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as   ‘   intends   ‘ or   ‘   anticipates’   , or variations of such words and phrases or statements that certain actions, events or results   ‘   may’,   ‘   could   ‘,   ‘   should   ‘,   ‘   would   ‘ or   ‘   occur   ‘   . This information and these statements, referred to herein as ‘forward-looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions. These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

View original content to download multimedia: https://www.prnewswire.com/news-releases/prospect-ridge-resources-adjourns-annual-general-meeting-302331800.html

SOURCE Prospect Ridge Resources Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2024/13/c2016.html

News Provided by Canada Newswire via QuoteMedia

This post appeared first on investingnews.com

Stock Futures Lower after S&P 500 futures ticked down 0.18%

Stock futures are trading slightly lower Monday morning as investors gear up for the final month of 2024. S&P 500 futures slipped 0.18%, alongside declines in Dow Jones Industrial Average futures and Nasdaq 100 futures, which dropped 0.13% and 0.17%, respectively. The market’s focus is shifting to upcoming economic data, particularly reports on manufacturing and construction spending, ahead of this week’s key labor data releases.

November was a standout month for equities, with the S&P 500 futures rallying to reflect the index’s best monthly performance of the year. Both the S&P 500 and Dow Jones Industrial Average achieved all-time highs during Friday’s shortened trading session, with the Dow briefly surpassing 45,000. Small-cap stocks also saw robust gains, with the Russell 2000 index surging over 10% in November, buoyed by optimism around potential tax cuts.

As trading kicks off in December, investors are keeping a close eye on geopolitical developments in Europe, where France’s CAC 40 index dropped 0.77% amid political concerns, while Germany’s DAX and the U.K.’s FTSE 100 showed smaller declines.

S&P 500 futures will likely continue to act as a key barometer for market sentiment, particularly as traders assess the impact of upcoming economic data and global market developments.

S&P 500 Index Chart Analysis

This 15-minute chart of the S&P 500 Index shows a recent trend where the index attempted to break above the resistance level near 6,044.17 but retraced slightly to close at 6,032.39, reflecting a minor decline of 0.03% in the session. The candlestick pattern indicates some indecisiveness after a steady upward momentum seen earlier in the day.

On the RSI (Relative Strength Index) indicator, the value sits at 62.07, having declined from the overbought zone above 70 earlier. This suggests that the bullish momentum might be cooling off, and traders could anticipate a short-term consolidation or slight pullback. However, with RSI above 50, the overall trend remains positive, favoring buyers.

The index’s recent low of 5,944.36 marks a key support level, while the high at 6,044.17 could act as resistance. If the price sustains above the 6,020 level and RSI stabilizes without breaking below 50, the index could attempt another rally. Conversely, a drop below 6,020 could indicate a bearish shift.

In conclusion, the index displays potential for continued gains, but traders should watch RSI levels and price action near the support and resistance zones for confirmation.

The post Stock Futures Lower after S&P 500 futures ticked down 0.18% appeared first on FinanceBrokerage.

S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7%

Stock futures climbed on Wednesday, driven by strong performances from Salesforce and Marvell Technology, following upbeat quarterly earnings. Futures tied to the Dow Jones Industrial Average rose by 215 points (0.5%), while S&P 500 futures gained 0.3%, and Nasdaq-100 futures advanced by 0.7%.

Salesforce surged 12% after reporting fiscal third-quarter revenue that exceeded expectations, showcasing robust demand in the enterprise software sector. Meanwhile, chipmaker Marvell jumped 14% after surpassing earnings estimates and providing optimistic fourth-quarter guidance, indicating resilience in the semiconductor industry.

This movement follows a mixed session on Wall Street, where the S&P 500 and Nasdaq closed with small gains, while the Dow dipped slightly. The broader market has experienced a modest start to December, contrasting with November’s robust rally, but analysts anticipate a resurgence in momentum. LPL Financial’s George Smith pointed out that December historically sees strong market performance, particularly in the latter half of the month.

However, economic data introduced some caution. ADP’s report revealed that private payrolls grew by just 146,000 in November, missing estimates of 163,000. This signals potential softness in the labor market, with investors now awaiting Friday’s November jobs report for further clarity.

S&P 500 Index Chart Analysis

Based on the provided stock chart, which appears to be a 15-minute candlestick chart for the S&P 500 Index, here’s a brief analysis:

The chart shows a clear upward trend, with higher highs and higher lows indicating bullish momentum over the analyzed period. The index has steadily climbed from a low of approximately 5,855 to a recent high of 6,053.58, suggesting strong buying interest.

Key resistance is observed near 6,050-6,053 levels, as the price has struggled to break above this zone in the most recent sessions. If the index breaches this level with strong volume, it could lead to further upward movement. Conversely, failure to break out may lead to a pullback, with potential support around the 6,000 psychological level and 5,980, where consolidation occurred previously.

The candlestick patterns show relatively small wicks, indicating limited volatility, which could imply steady market confidence. However, the bullish rally could be overextended, warranting caution for traders, especially if any negative catalysts emerge.

In summary, the short-term trend is bullish, but traders should monitor resistance levels and volume for signs of a breakout or reversal. It’s also essential to watch broader market factors, as indices are often influenced by macroeconomic data and sentiment.

The post S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7% appeared first on FinanceBrokerage.

Top liquor distributor favored Costco and Kroger over small businesses, FTC says

The Federal Trade Commission in a new lawsuit accuses the largest U.S. distributor of wine and spirits of illegal price discrimination that gave large chains — among them Costco, Kroger and Total Wine & More — much better prices than those offered to neighborhood grocery stores, convenience shops and independent liquor stores.

The distributor, Southern Glazer’s Wine and Spirits, is the tenth largest privately held company in the United States, generating about $26 billion in revenues from sales to retail customers in 2023, the FTC said Thursday in announcing the suit.

The complaint says Southern, which distributes around 5,600 wine and spirit brands, deprived smaller businesses of access to discounts and rebates, harming their ability to compete with large national and regional chain stores.

The suit alleges the distributor violated the Robinson-Patman Act by providing “steep discounts” without any market justification to a certain set of retailers.

“When local businesses get squeezed because of unfair pricing practices that favor large chains, Americans see fewer choices and pay higher prices — and communities suffer,” said FTC Chair Lina Khan in a statement.

“The law says that businesses of all sizes should be able to compete on a level playing field,” Khan said. “Enforcers have ignored this mandate from Congress for decades, but the FTC’s action today will help protect fair competition, lower prices, and restore the rule of law.”

CNBC has requested comment on the lawsuit from Southern.

The suit, filed in U.S. District Court for the Central District of California, accuses Southern of price discrimination since at least 2018 up to now.

Southern distributes wine and spirits for many big suppliers, including Pernod Ricard, the supplier of Jameson Irish Whiskey and Absolut Vodka; Bacardi U.S.A., the supplier of Patron Silver Tequila, Grey Goose Vodka, and Bacardi Rum; Diageo, the supplier of Smirnoff Vodka; and Beam Suntory, the supplier of Jim Beam Bourbon and Makers Mark Whiskey, according to the FTC.

This post appeared first on NBC NEWS