GTI Energy (GTR:AU) has announced A$4.5M Placement to Underpin Resource Growth Strategy
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Sarama Resources (SRR:AU) has announced A$2.7m Equity Placement to Fund Laverton Drilling Campaign
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Brightstar Resources (BTR:AU) has announced Merger Discussions Between Brightstar and Aurumin
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(TheNewswire)
Vancouver, BC TheNewswire June 30, 2025 – Element79 Gold Corp. (CSE: ELEM | FSE: 7YS0 | OTC: ELMGF) (‘Element79’ or the ‘Company’) announces its forward corporate guidance for the remainder of 2025, outlines recent strategic developments regarding its Lucero Project in Peru, and reaffirms its operational focus on its advanced-stage projects in Nevada, USA.
Force Majeure Declared on Lucero Project
The Company formally invoked the force majeure clause under its agreement with Condor Resources Inc. with respect to the Lucero Project due to a combination of social, regulatory, and political barriers which have effectively prevented the Company from lawfully executing planned exploration and development activities, despite holding full mineral rights.
A force majeure event refers to unforeseen circumstances beyond a party’s control—such as acts of government, social unrest, or natural disasters—that prevent contractual obligations from being fulfilled. In the case of Lucero, the following factors have contributed to the declaration:
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Evolving and inconsistent Peruvian federal policies on small-scale mining formalization, creating uncertainty in legal enforceability and timelines.
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Political instability and leadership vacuums , with current municipal governance in Chachas in transition and the outgoing mayor largely absent from the community.
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Legacy community mistrust and unmet promises from prior owners, complicating local engagement efforts.
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Ongoing unauthorized artisanal mining by community members operating outside legal frameworks and without formalized agreements.
Element79 has spent two and a half years of extensive, evolving efforts to foster community relationships and negotiate access agreements in good faith, and the Company believes in developing a win-win solution with the Chachas community for the restart of the past-producing Lucero mine, the tailings and development of a regional processing plant, and exploring the geological assets inside the Lucero concessions. The Company and its contracted financial consultants remain staunchly optimistic to fund future development at Lucero as agreements for surface rights agreements are reached. In the short-term, internal reports and formal feedback from its social engagement team (GAE Peru) and regional mining authorities (DREM Arequipa) suggest that no material progress toward surface rights agreements is likely for the remainder of 2025.
Path Toward Resolution and Reworking Terms with Condor Resources
Over the next 12 months, Element79 will:
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Continue monitoring regulatory developments, particularly the anticipated implementation of MAPE legislation , which may clarify formalization mechanisms between artisanal miners and mineral right holders.
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Maintain social outreach campaigns in Chachas through the Company’s social engagement team, GAE Peru, preparing the groundwork for ongoing engagement pre- and post-municipal elections in early 2026
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Continue ongoing dialogue with Condor Resources to explore restructuring the terms of the original Lucero agreement, with the goal of establishing a more reasonable, flexible and mutually beneficial framework as on-the-ground conditions allow for meaningful work to resume at Lucero.
Strategic Focus Shift to Nevada Projects
In line with this operational pivot, Element79 is reaffirming its near-term focus on its U.S.-based assets:
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The Company will retain and advance development at the Elephant Project in Nevada. A technical report to formally organize historical work under the 43-101 framework, upcoming work plan and exploration campaign are currently being finalized and will be publicly disclosed shortly.
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The acquisition of the Gold Mountain Project , a drill-ready asset also located in Nevada, is expected to close as soon as possible, pending administrative timelines surrounding Canada Day and U.S. Independence Day holidays. A comprehensive development plan will be issued thereafter.
As Element79 aligns its capital and human resources to near-term executable projects, the Company remains committed to:
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Unlocking shareholder value through strategic asset optimization.
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De-risking its project portfolio by prioritizing jurisdictions with clear permitting paths.
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Continuing stakeholder engagement to support long-term success at Lucero when conditions become viable.
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Changes to the board of directors and management to reflect the evolving business model
About Element79 Gold Corp.
Element79 Gold Corp. is a mining company focused on the exploration and development of high-grade gold and silver assets. Its principal asset is the past-producing Lucero Project in Arequipa, Peru, where it aims to resume operations through both conventional mining and tailings reprocessing. In the United States, the Company holds interests in multiple projects along Nevada’s Battle Mountain Trend. Additionally, Element79 Gold has completed the transfer of its Dale Property in Ontario to its wholly owned subsidiary, Synergy Metals Corp., and is progressing through the Plan of Arrangement spin-out process.
For further information, please visit: www.element79.gold
On Behalf of the Board of Directors
James C. Tworek
Chief Executive Officer, Director
Element79 Gold Corp.
jt@element79.gold
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words ‘anticipate,’ ‘plan,’ ‘continue,’ ‘expect,’ ‘estimate,’ ‘objective,’ ‘may,’ ‘will,’ ‘project,’ ‘should,’ ‘predict,’ ‘potential’ and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements concerning the Company’s exploration plans, development plans and the Force Majeure Event. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on these statements because the Company cannot provide assurance that they will prove correct. Forward-looking statements involve inherent risks and uncertainties, and actual results may differ materially from those anticipated. Factors that could cause actual results to differ include conditions in the duration of the Force Majeure Event, and receipt of regulatory and shareholder approvals. These forward-looking statements are made as of the date of this press release, and, except as required by law, the Company disclaims any intent or obligation to update publicly any forward-looking statements.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2025 TheNewswire – All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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Investor Insight
With a strategic foothold in Portugal and a commodity focus on tungsten – a metal deemed critical by both NATO and US defense agencies – Allied Critical Minerals is advancing two past-producing projects toward near-term production. Backed by a $4.6 million financing, offtake interest from major buyers, and a leadership team with proven capital markets and operational success, ACM is well-positioned to become the largest tungsten producer outside of China.
Overview
Allied Critical Minerals (CSE:ACM,FSE:0VJ0) is advancing two highly strategic, past-producing tungsten projects – Borralha and Vila Verde – located in northern Portugal. These brownfield assets present a compelling combination of near-term production potential and district-scale exploration upside, positioning the company to become the largest tungsten producer outside of China. With 100 percent ownership of both projects and supportive local communities, ACM is well-placed to contribute to the critically needed supply of this strategic metal to Western markets.
Tungsten is essential for defense systems, electric vehicles, semiconductors and artificial intelligence (AI), yet current global supply is dominated by China and Russia, accounting for about 90 percent of production. ACM’s projects are aligned with national security strategies in the US and EU, seeking secure and stable sources of tungsten supply. The company has already signed a letter of intent with Global Tungsten & Powders, a major Pennsylvania-based end-user with ties to the US military and is actively engaging with other global refineries.
To capitalize on these market dynamics, ACM closed a $4.6 million financing to fund an aggressive value creation plan. This includes an ongoing drill program at Borralha aimed at expanding its existing NI 43-101 resource, and the construction of a pilot processing facility at Vila Verde, targeted to begin in Q4 2025 and become operational by 2026. The pilot plant will process tailings and alluvial material from existing deposits, with an estimated annual output of ~250 tons tungsten trioxide (WO₃) and projected revenues of $4 million to $5 million, supporting near-term cash flow with minimal dilution.
ACM differentiates itself from competitors such as American Tungsten and Fireweed through its permitting progress, advanced technical groundwork and strong leadership. CEO Roy Bonnell brings a proven track record of successful exits and rapid value creation, having been instrumental in the success of both Founders Metals (TSXV:FDR) and Thesis Gold (TSXV:TAU) — two of the TSX Venture’s top-performing issuers in recent years.
Company Highlights
- Strategic Focus on Critical Metals: Allied Critical Minerals is developing two tungsten projects – Borralha and Vila Verde – in mining-friendly northern Portugal, targeting near-term production and long-term scale.
- Advanced Brownfield Assets: Both projects are historic producers with significant infrastructure, community support and technical momentum. Borralha produced tungsten from 1904 to 1986, and holds a newly updated NI 43-101 compliant resource.
- Pilot Plant Launch in 2026: A pilot plant at Vila Verde is slated for construction in Q4 2025 with 150,000 tpa throughput capacity, expandable to 300,000 tpa. Target output of ~250 tons WO₃ annually is expected to generate $4 million to $5 million in revenue, funded through non-dilutive financing.
- Offtake and Government Support: Allied has signed an LOI with Global Tungsten & Powders and is in discussions with additional refineries. Expressions of interest from US and EU defense-linked buyers are ongoing.
- High Impact Drill Campaign: A fully funded 5,000 meter drill program is currently underway at Borralha, with assays expected to expand resources and define the high-grade Santa Helena Breccia zone.
- Differentiated from Peers: Allied is one of only a few public companies in the Western world with near-term tungsten production potential, outpacing peers such as American Tungsten and Fireweed, in both timeline and resource readiness.
Key Projects
Borralha Tungsten Project
The Borralha project is ACM’s flagship development-stage asset, located approximately 100 km northeast of Porto in northern Portugal. A brownfield project with a rich production history dating back to 1904, Borralha produced over 10,280 tons of wolframite concentrate at an average grade of 66 percent WO₃, until operations ceased in 1986. Today, the project is advancing rapidly, supported by a Mining Rights Concession License and a newly updated NI 43-101 compliant resource estimate effective July 31, 2024. The estimate defines indicated resources of 4.98 million tons (Mt) at an average grade of 0.22 percent WO₃, 762 grams per ton (g/t) copper, and 4.8 g/t silver, and inferred resources of 7.01 Mt at 0.20 percent WO₃, 642 g/t copper, and 4.4 g/t silver. The project area hosts significant polymetallic enrichment, with tin and copper frequently associated with the tungsten mineralization, adding potential for by-product credits.
The primary zone of interest, the Santa Helena Breccia (SHB), is a subvertical to sub-horizontal breccia pipe-style tungsten system. Historical and recent drilling confirms broad, continuous mineralization with highlight intercepts including 106 m at 0.21 percent WO₃, 114 m at 0.23 percent WO₃, 108 m at 0.22 percent WO₃, and a high-grade zone of 10 m at 1.75 percent WO₃.
The SHB zone accounts for over 70 percent of known mineralization, but only about half of the zone has been drill-tested to date. The current drill campaign is targeting both lateral extensions and higher-grade core zones within the breccia body.
Geologically, the deposit is hosted in metasedimentary rocks intruded by late-Variscan granites, with mineralization occurring predominantly as wolframite associated with quartz-cassiterite veins and breccia infill. Breccia pipe mining techniques – similar to open-pit quarry operations – are anticipated for early-stage exploitation.
The project is currently undergoing an environmental impact assessment under review by Portuguese authorities. The mining license includes provisions for up to 150,000 tons per annum of bulk sampling ahead of full-scale operations, which will be governed by a future feasibility study. The low-cost drill environment (~$235/meter) and excellent infrastructure – including road, power, water and proximity to a skilled workforce – make Borralha a technically robust and strategically significant asset for ACM.
Vila Verde Tungsten-Tin Project
Located approximately 45 km southeast of Borralha, the Vila Verde project is ACM’s pilot production and near-term cash flow opportunity. Historically, this area hosted the Vale das Gatas Mine, which was one of Portugal’s largest tungsten producers prior to its closure in 1986. The project covers a significantly larger land area than Borralha and includes multiple mineralized zones, notably Cumieira and Porqueira. A historical resource estimate from 2020 defined 7.3 Mt of mineralized material above a 0.05 percent WO₃ cutoff, including 4.0 Mt at 0.14 percent WO₃ in the Cumieira zone and 3.3 Mt at 0.10 percent WO₃ in Porqueira. While historical in nature, these figures are supported by 17 diamond drill holes totaling 2,103 metres, which revealed a 2.1 km x 1.0 km mineralized footprint at Cumieira and a 1.0 km x 500 m footprint at Porqueira.
Vila Verde Pilot Plan
Vila Verde is advancing toward the construction of a 150,000-ton-per-annum pilot plant, scheduled to begin construction in Q4 2025 and be operational in 2026. Tailings and alluvial material from the Justes deposit will be used as the initial feedstock, with an average WO₃ grade of ~0.21 percent anticipated. Plant design includes standard crushing and grinding circuits followed by gravimetric and magnetic separation to produce a high-grade wolframite concentrate. Engineering work by GMR Consultores and MinePro Solutions supports an annual output of approximately 250 tons of WO₃ under current parameters. The total estimated CAPEX for the pilot plant is CA$7.9 million, with a proposed expansion to 300,000 tpa requiring an additional CA$2.9 million, both targeted for non-dilutive funding sources.
Permitting is progressing efficiently, with the mineral license being converted from exploration to experimental mining status. This permits early-stage production while full-scale licensing is pursued. The project benefits from pre-existing quarry infrastructure, strong community support, and short timelines to cash flow. A signed LOI with Global Tungsten & Powders in Pennsylvania provides an initial offtake channel, and additional negotiations with global refiners are ongoing. Vila Verde is central to ACM’s short-term revenue plan and is designed to serve as a testbed for scalable production across its broader tungsten portfolio.
Management Team
Roy Bonnell – CEO and Director
Roy Bonnell is a seasoned executive with over 30 years in capital markets, venture finance and natural resources. Bonnell holds an LLB from Western University, an MSc from the London School of Economics, and an MBA from McGill University. He brings deep leadership and financing experience and previously served as a board member for Founders Metals and Thesis Gold – two of the TSXV’s top performers.
João Barros – President and COO
With over 20 years of mining sector experience in Portugal, João Barros specializes in exploration management, environmental impact assessments and feasibility studies. He has held leadership roles at Ascendant Resources and Redcorp, and is a member of the Portuguese Engineers Association.
Sean O’Neill – Non-Executive Chairman
Sean O’Neill is head of securities at Boughton Law with 20+ years in corporate and securities law, including advising mining firms globally. He holds degrees in Chemical Engineering and Law, an MBA, and is a registered professional engineer (P.Eng).
Michael Galego – Director
Michael Galego is the CEO of Apolo Capital Advisory and CLO of LNG Energy, with extensive experience in M&A and corporate strategy. Notably, he advised on the sale of Woulfe Mining (tungsten asset) to Almonty Industries. He is a Lexpert Top 40 Under 40 awardee and member of the TSX Venture Advisory Committee.
Colin Padget – Director
CEO of Founders Metals, Colin Padget brings operational exploration experience across South America. He holds a Masters in Geology and a Bachelor in Business Administration.
Andrew Lee – Director and Corporate Secretary
Former Managing Director of York Harbour Metals, Andrew Lee has 15 years of global exploration experience across gold and phosphate projects in Ecuador and West Africa.
Sean Choi – CFO
A CPA with nearly 20 years in mining finance, Sean Choi has held CFO roles at York Harbour Metals, Ecuador Gold & Copper, and Northern Sun Mining. He holds a degree from the Western University.
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Apple Thursday made changes to its App Store European policies, saying it believes the new rules will help the company avoid a fine of 500 million euro ($585 million) from the EU for violating the Digital Markets Act.
The new policies are a complicated system of fees and programs for app makers, with some developers now paying three separate fees for one download. Apple also is going to introduce a new set of rules for all app developers in Europe, which includes a fee called the “core technology commission” of 5% on all digital purchases made outside the App Store.
The changes Apple announced are not a complete departure from the company’s previous policy that drew the European Commission’s attention in the first place.
Apple said it did not want to make the changes but was forced to by the European Commission’s regulations, which threatened fines of up to 50 million euros per day. Apple said it believed its plan is in compliance with the DMA and that it will avoid fines.
“The European Commission is requiring Apple to make a series of additional changes to the App Store,” an Apple spokesperson said in a statement. “We disagree with this outcome and plan to appeal.”
A spokesperson for the European Commission did not say that Apple was no longer subject to the fine. He said in a statement that the EC is looking at Apple’s new terms to see if the company is in compliance.
“As part of this assessment the Commission considers it particularly important to obtain the views of market operators and interested third parties before deciding on next steps,” the spokesperson said in a statement.
The saga in Brussels is the latest example of Apple fiercely defending its App Store policies, a key source of profit for the iPhone maker through fees of between 15% and 30% on downloads through its App Store.
It also shows that Apple is continuing to claim it is owed a commission when iPhone apps link to websites for digital purchases overseas despite a recent court ruling that barred the practice in the U.S.
Under the Digital Markets Act, Apple was required to allow app developers more choices for how they distribute and promote their apps. In particular, developers are no longer prohibited from telling their users about cheaper alternatives to Apple’s App Store, a practice called “steering” by regulators.
In early 2024, Apple announced its changes, including a 50 cent fee on off-platform app downloads.
Critics, including Sweden’s Spotify, pushed back on Apple’s proposed changes, saying that the tech firm chose an approach that violated the spirit of the rules, and that its fees and commissions challenge the viability of the alternative billing system. The European Commission investigated for a year, and it said on Thursday that it would again seek feedback from Apple’s critics.
“From the beginning, Apple has been clear that they didn’t like the idea of abiding by the DMA,” Spotify said last year.
Epic Games CEO Tim Sweeney, whose company successfully changed Apple’s steering rules in the U.S. earlier this year, accused Apple of “malicious compliance” in its approach to the DMA.
“Apple’s new Digital Markets Act malicious compliance scheme is blatantly unlawful in both Europe and the United States and makes a mockery of fair competition in digital markets,” Sweeney posted on social media on Thursday. “Apps with competing payments are not only taxed but commercially crippled in the App Store.”
The European Commission announced the 500 million euro fine in April. The commission at the time said that the tech company might still be able to make changes to avoid the fine.
Apple’s restrictions on steering in the United States were tossed earlier this year, following a court order in the long-running Epic Games case. A judge in California found that Apple had purposely misled the court about its steering concessions in the United States and instructed it to immediately stop asking charging a fee or commission on for external downloads.
The order is currently in effect in the United States as it is being appealed and has already shifted the economics of app development. As a result, companies like Amazon and Spotify in the U.S. can direct customers to their own websites and avoid Apple’s 15% to 30% commission.
In the U.S., Amazon’s iPhone Kindle app now shows an orange “Get Book” button that links to Amazon.com.
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It was a week of downward momentum for the gold price.
The yellow metal neared the US$3,400 per ounce level on Monday (June 23) as investors reacted to the weekend’s escalation in tensions in the Middle East, but sank to just above US$3,300 the next day.
The decline came as US President Donald Trump announced that Israel and Iran had agreed to a ceasefire. While the ceasefire has not gone entirely smoothly, with Trump expressing displeasure about violations, the news appeared to calm investors.
Gold’s safe-haven appeal took another hit toward the end of the week, when Trump said late on Thursday (June 26) that the US had signed a trade deal with China. Although details remain scarce — China’s commerce ministry confirmed the arrangement, but said little else — the gold price dropped on the news, closing Friday (June 27) at about US$3,274.
It was a different story for other precious metals this week.
Silver enjoyed an uptick, rising as high as US$36.79 per ounce before pulling back to the US$36 level. Whether it can continue breaking higher remains to be seen, but many experts are optimistic.
In fact, Randy Smallwood of Wheaton Precious Metals (TSX:WPM,NYSE:WPM) said that right now he’s perhaps more excited about silver than he is about gold. Here’s how he explained it:
There’s not a lot of new production coming on stream, just because most silver comes as a by-product from lead, zinc and copper mines — more than half of silver. And we’re just not seeing the investment into the base metals space that we need to sustain that production and grow that production.
As excited as I am about gold, I think silver’s got a few more fundamentals behind it that make it a pretty exciting time to be watching silver … silver’s got some catching up to do with respect to what gold’s done over the last few years.’
Watch the full interview with Smallwood for more on silver, as well as gold and platinum.
Speaking of platinum, it was also on the move this week, rising above US$1,400 per ounce.
The move has turned heads — despite a persistent supply deficit, platinum has spent years trading in a fairly tight range, and it hasn’t crossed US$1,400 since 2014.
Recent trends supporting platinum’s move include a shift toward platinum jewelry due to the high cost of gold, as well as larger platinum imports to the US earlier this year when tariff uncertainty was heating up. At the same time, miners have faced challenges.
‘This has led to tight forward market conditions,’ said Jonathan Butler of Mitsubishi (TSE:8058), ‘with a deep backwardation across the curve.’ In his view, these conditions will continue providing support for the precious metal in the coming weeks.
Bullet briefing — Gold repatriation, Rule Symposium
Germany, Italy to repatriate gold?
Germany and Italy are facing calls to bring home gold stored in the US.
According to the Financial Times, politicians and economists in the two countries are pushing for repatriation as a result of global geopolitical uncertainty, as well as concerns about Trump’s potential influence on the Federal Reserve as he continues to criticize Chair Jerome Powell.
‘We are very concerned about Trump tampering with the Federal Reserve Bank’s independence. Our recommendation is to bring the (German and Italian) gold home to ensure European central banks have unlimited control over it at any given point in time’ — Michael Jäger, Taxpayers Association of Europe
The news outlet calculates that German and Italian gold held in the US has a total value of about US$245 billion. Market participants agree that it would be a blow to relations with America if the countries were to bring their gold home at this time.
At least for now they seem unlikely to do so — although Italy’s central bank hasn’t commented, Germany’s Bundesbank said it sees the New York Fed as ‘trustworthy and reliable.’
Send your questions for the Rule Symposium
The Rule Symposium runs in Boca Raton, Florida, from July 7 to 11, and I’ll be heading there to interview Rick Rule, as well as Adrian Day, Lobo Tiggre, Andy Schectman, Dr. Nomi Prins and more.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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Chartists can improve their odds and increase the number of opportunities by trading short-term bullish setups within bigger uptrends. The first order of business is to identify the long-term trend using a trend-following indicator. Second, chartist can turn to more granular analysis to find short-term bullish setups. Today’s example will use the Cloud Computing ETF (SKYY).
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, which has over a dozen reports. These cover the Zweig Breadth Thrust, trend-following signals, trailing stops and finding bullish setups. Check it out!
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The bears are now left grasping at straws. What about tariffs? What about inflation? What about recession? What about the Fed? What about interest rates? What about the Middle East? What about the deficits? Blah, blah, blah.
When it comes to the media, you need to bury your head in the sand. Actually, take your head out of the sand and bury it in the charts. That’s where you’ll find the truth.
I said all-time highs were coming back at the April low and here we are. The S&P 500 has set a new all-time record high today and, barring a significant afternoon decline, will set its all-time closing high above the previous closing high of 6144, which was set on February 19, 2025. This new high comes just as we begin to prepare for Q2 earnings season. The run up to earnings season is generally and historically quite strong, so get ready for more highs ahead.
Since 1950, the S&P 500 has produced annualized returns of nearly 27% during the period June 28th through July 17th. This annualized pre-earnings run is nearly triple the average S&P 500 annual return of 9% since 1950. Care to guess how the NASDAQ and Russell 2000 have fared during this bullish pre-earnings period?
- NASDAQ: +38.67%
- Russell 2000 (IWM): +32.61% (bullish period ends July 15th for small caps)
Clearly, the bulls have the historical advantage for the next 3 weeks. Technically, evidence began turning in the bulls’ favor in mid-March, despite the last big move lower in early April. I have the research to back that up and will discuss it at an event on Saturday (more details below). While the stock market was rapidly declining in April, Wall Street was happily stealing everyone’s shares during the panicked selloff.
Technical Strength
Two of the most important industry groups to follow are semiconductors ($DJUSSC) and software ($DJUSSW). These two groups are among the most influential in terms of driving the S&P 500 higher. Check out both of these charts and be sure to check out both the absolute and relative strength currently.
Semiconductors:
Software:
Now I’m going to provide charts of these same two groups, but this time show you how positively they correlate to the S&P 500’s direction over the course of this century.
Semiconductors:
Software:
Honestly, you don’t need a PhD in Economics to understand the above charts. It’s really quite simple. When semiconductors and software are rallying to new highs and showing relative strength, BUY U.S. stocks! They both have extremely tight positive correlation with the S&P 500 and they both look very technically sound right now.
Interest Rate Cut
It’s coming and it’s coming fast! I’m now convinced that the Fed will cut the fed funds rate in a month at their next scheduled meeting on July 29-30. I’m not saying it because I feel the Fed should cut or needs to cut. I’m saying it because there’s a ton of buying right now in the 1-month treasury, sending its yield down. The 1-month treasury yield ($UST1M) typically begins to move BEFORE any Fed action occurs. We saw it back in August/September 2024, just prior to the 50 basis point cut at the September 2024 meeting:
The black directional lines in the bottom panel mark approximately the date that the Fed lowered the fed funds rate. The red directional lines in the top panel highlight the downward movement in the $UST1M PRIOR to the Fed’s lowering roughly a month later. Again, I’m not making this stuff up. The charts are telling me a story here and the current story is that rates are about to come down.
Checkmate bears.
Follow the charts, not the media!
The Game
I’m beginning to believe that capitulation is nothing more than a staged event for the Wall Street elite and we’re the panicked pawns running around with our hair on fire. Those days are over for EarningsBeats.com members. We saw this one coming, just like we saw it coming in 2022. Getting out at the top with the Wall Street elite and getting back in at the bottom before them is an excellent recipe for beating the S&P 500 by a mile!
Learning is the key. We focus on market research, guidance, and education at EarningsBeats.com. Those are our 3 pillars of business. Calling the 2025 market top wasn’t a coincidence. We’ve done it before and we’ll do it again. Jumping back in near the bottom was no coincidence either. Our signals are proven and they work.
On Saturday morning at 10:00am ET, we’re hosting a FREE educational event, “Trading the Truth: How Market Manipulation Creates Opportunity”. I’m going to show everyone the “play-by-play” of how we were able to move to cash BEFORE the market top and back into stocks NEAR the market bottom. Market tops form with many of the same signals each time. To learn more about this event and to register with your name and email address, CLICK HERE.
If you’ve struggled with all the uncertainty in 2025 and haven’t trusted stocks, it’s time that you change your process and strategies. I’ll see you on Saturday!
Happy trading!
Tom
If you’ve looked at enough charts over time, you start to recognize classic patterns that often appear. From head-and-shoulders tops to cup-and-handle patterns, they almost jump off the page when you bring up the chart. I would definitely include Fibonacci Retracements on that list, because before I ever bring up the Fibonacci tool on StockCharts, I’m pretty confident the levels are going to line up well with the price action.
Today, we’re going to look at a breakout name that shows why Fibonacci Retracements can be so valuable for confirming upside potential. We’ll also explain some best practices for identifying the most important price levels to use when setting up a Fibonacci framework. Finally, we’ll show how Fibonacci analysis could have helped you validate the current uptrend phase for the S&P 500 index.
Confirming Breakouts: Norwegian Cruise Line Holdings (NCLH)
I started dropping quite a few Fibonacci Retracements on price charts soon after the April 7, 2025 market low. As stocks experienced a sudden and severe bounce off those lows, it became clear that we would need some way to validate a potential upside swing. That helped me zero in on the $20 level for Norwegian (NCLH), a level which was finally eclipsed this week.
Using the January high and the April low, we can see a 38.2% Fibonacci level come in right around $20. A gap higher in mid-May took NCLH close to that level, which was then retested again in early June. After bouncing off the 50-day moving average last week, Norwegian finally pushed above this first Fibonacci resistance level with Friday’s rally.
One of the ways we can differentiate between a “dead cat bounce” off a major low and the beginning of a much larger recovery phase is to key in on the first Fibonacci retracement level. If the price can push above this initial upside target, ideally on heavier than normal volume, then the chances of further upside are significantly increased.
In the case of NCLH, we can now bump up a price target to further Fibonacci levels. The 50% line, just below $20, lines up fairly well with the 200-day moving average. The 61.8% comes in right around $23.50, which represents my next upside target, assuming this week’s strength is confirmed by a follow-through day next week.
Identifying Pullbacks: Raytheon Technologies (RTX)
We can also use Fibonacci Retracements to identify downside targets after a major price peak. In the case of Raytheon Technologies (RTX), that means we use the April low and the high from mid-June to generate potential support levels.
In this case, we can see that the Fibonacci retracement levels line up very well with traditional support levels using the price action itself. The 38.2% level lines up with the mid-June low around $135, which also coordinates with the 50-day moving average. Beyond that support, the 50% level sits right at the late May low at $131, and the 61.8% level comes in right around the early May support at $126.
Given an initial pullback from the June peak around $149, I’m seeing strong potential support at the 38.2% level and 50-day moving average around $135. Now I can use Fibonacci levels to better define my risk vs. reward, showing how much downside action I’d anticipate while still keeping an eye on a return to the previous all-time highs.
Validating Uptrends: The S&P 500 Index ($SPX)
Sometimes Fibonacci Retracements are valuable in that they help validate that an uptrend is progressing with a decent pace. For the S&P 500 chart, every break of a Fibonacci resistance level has confirmed the strength of the broad market indexes off the April low.
It took only two sessions for the SPX to break above the 38.2% retracement of the February to April downtrend phase. In fact, the S&P almost reached the 50% level before pulling back to around 5100 in mid-April. From there, we can see a gap back above the 38.2% level, which helped confirm the strength of the new uptrend phase.
I still have the pink trendline on my chart that I remember drawing during the downtrend phase. “As long as the S&P remains below trendline resistance, the market is in a clear downtrend,” I remember saying out loud on my market recap show. So when the SPX broke above the 50% level, as well as that clear trendline, I was forced to acknowledge the staying power of this new uptrend phase.
The S&P 500 stalled out at the 61.8% retracement level in early May, but another price gap higher signaled that the final Fibonacci resistance level was no longer going to hold. And once you eclipse the final Fibonacci level, that implies a full retest back to the 100% point.
So am I surprised that the S&P 500 has pushed to new all-time highs this week? Absolutely not. Indeed, using Fibonacci Retracements on charts like this have helped me admit when a new uptrend is showing strength, and provide plenty of reminders to follow the trend until proven otherwise!
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
https://www.youtube.com/c/MarketMisbehavior
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.