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Adobe Inc (ADBE)

Adobe, Inc. (ADBE) has slipped from the SIACharts Favored Zone to the Unfavored Zone, marking a significant downturn in its market performance. This shift is accompanied by a notable decline in its SMAX score to 5 out of 10, signaling short-term weakness. The stock’s recent technical breakdown, including a failure to surpass major resistance levels and increased selling pressure, highlights potential for further declines.

Cameco Corp (CCO.TO)

Cameco Corp (CCO.TO), a prominent uranium producer, recently shifted from the SIA Favored to Neutral Zone in the SIA S&P/TSX 60 Index Report, dropping 13 places to 16th. Despite a robust 48.7% return over the past nine months, technical indicators signal potential challenges ahead, with the stock testing key support levels. This transition suggests a pivotal moment for Cameco.

Colliers International Group Inc (CIGI.TO)

Colliers International Group Inc. (CIGI.TO) has seen a rebound in its stock performance, climbing 7 ranks to 34th in the SIA S&P/TSX Composite Index Report–a key insight for investment professionals focusing on the commercial real estate services sector. Since returning to the SIA Favored Zone, CIGI.TO’s stock is up 12.4%, significantly outperforming the S&P/TSX Composite Index’s 2.8% rise.

S&P 500 Index (SPX.I) & CBOE Interest Rate 10-Year

This week’s Equity Leaders Weekly highlights the S&P 500’s historic breach of 5,000 amidst market volatility and speculative trades, particularly in tech sectors and cryptocurrencies. Despite these highs, concerns loom with unexpected earnings reactions and investor responses to inflation, profiling caution. Upcoming earnings from Nvidia and Booking Holdings, alongside this month’s options expiry, may further influence market dynamics. Notably, the recent rebound in 10-year Treasury yields offers a key point of focus, signaling potential shifts in investor sentiment and market direction.

Kinross Gold Corp (K.TO)

In our latest Daily Stock Report, we observe Kinross Gold (K.TO)’s transition from a top performer in the SIA S&P/TSX 60 Index to a notable decline amid a wakening gold sector. Previously consistently in the SIA Favored Zone, Kinross has recently dropped 24 spots to 28th, entering the SIA Neutral Zone amid a weakening gold sector.

The Walt Disney Company (DIS)

SIACharts highlights a notable shift for Walt Disney (DIS), moving from the Unfavored to the Neutral Zone in the SIA S&P 100 Index Report after years of underperformance. Climbing 49 spots in just one month, DIS’s recent 22.6% rally is a sharp improvement from its previous 41.0% drop, outperforming the S&P 100’s modest 1.5% gain.

Microchip Technology Inc (MCHP)

Microchip Technology Inc. (MCHP), in the dynamic Electronics and Semiconductors sector, is lagging behind its peers. Despite the sector’s overall strong performance, highlighted by giants like Nvidia and Broadcom, MCHP’s growth has been muted. Since falling from the SIA Charts NASDAQ 100 Index Report’s Favoured Zone in August, its shares have climbed only 3.7%, underperforming the NASDAQ 100 Index’s 15.6% gain. Recently, MCHP slipped into the Unfavored Zone, further descending 16 spots in just a month to 67th place in the SIA rankings.

West Fraser Timber Co Ltd (WFG.TO)

West Fraser Timber (WFG.TO) is underperforming in the SIACharts’ relative strength rankings, hinting at the risks associated with the Materials sector, particularly forest products. Exiting the green zone early August , WFG.TO has remained flat, contrasting sharply with the S&P/TSX Composite Index’s 4.4% gain. Over the last month, West Fraser lost 8.9%, further lagging behind the benchmark index’s 0.9% decline. Now in the SIA Neutral Zone and ranked 103rd –a 26 spot drop– it signals a cautionary stance for the sector.

Mattr Corp (MATR.TO)

Mattr Corp. (MATR.TO) has seen a notable resurgence, climbing 51 spots in the SIA S&P/TSX Composite Index Report to 54th place, marking its return to the Green Favored Zone. With a 5.2% increase in share value year-to-date, outperforming the S&P/TSX Composite’s 0.1% gain, Mattr presents a compelling piece in the energy sector.

Wesdome Gold Mines Ltd (WDO.TO)

Wesdome Gold Mines (WDO.TO) surged 25.2% in a month, outpacing the S&P/TSX Composite Index and gold prices, thanks to strong exploration, earnings, and recent acquisition. Climbing 123 spots to rank 38th, Wesdome re-enters the Green Favored Zone of the SIA S&P/TSX Composite Index Report for the first time since July 2022.

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