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TSX Venture Exchange, Gold & Overall Markets

The Venture declined for a 3rd straight week, though the loss was limited to just 8 points while buy pressure (CMF) on the 2-year weekly chart actually increased slightly.  Support at the rising 100-day moving average (SMA) in the 760’s continues to hold, and that’s a key area to watch.

While the Venture has been in a consolidation phase since its mid-August high of 848, keep in mind that in each and every bull market year going back to 2003, the Index has climbed powerfully from its 3rd quarter close to year-end.  Will the anticipated gains in Q4 be spread out over October, November and December, or are we headed toward some sort of remarkable surge during the last half of December after a much anticipated final Fed meeting of the year?  Anything is possible, especially during an unpredictable and unconventional U.S. election season.

Today’s Week In Review and A Look Ahead includes the best performers on the BMR Top Opportunities List last week, led by upstart Garibaldi Resources (GGI, TSX-V) which came to life after releasing compelling new geological and geophysical data, with more likely on the way, from its Ni-Cu-Au E&L deposit in the Golden Triangle’s Heart of Gold Camp. 

Click here to read the rest of today’s Week In Review And A Look Ahead, and learn more about where the Venture is headed in the coming weeks, with a risk-free Pro, Gold or Basic subscription featuring a 100% money-back guarantee, or login with your username and password.