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The global pharmaceutical market reached a total value of US$1.38 trillion in 2024, according to Research and Markets, up significantly from the US$888 billion seen just over a decade earlier in 2010.

Experienced and novice investors alike may want to consider pharmaceutical exchange-traded funds (ETFs) as a way to gain exposure to the top pharma companies. Like all ETFs, pharmaceutical ETFs are a good option for those who want to trade a set of assets in the pharmaceutical industry instead of focusing solely on individual pharmaceutical stocks.

The main advantage of a pharmaceutical ETF is the fact that it can provide exposure to an overarching sector, but still trades like a stock. Pharma ETFs also offer less market volatility and lower fees and expenses.

Big pharma ETFs

Many of these funds have diverse holdings across some of the most important sectors in the pharmaceutical industry, including pain therapeutics, oncology, vaccines and biotechnology. Data was gathered on May 6, 2025.

1. VanEck Pharmaceutical ETF (NASDAQ:PPH)

Total assets under management: US$653.61 million

Established in late 2011, the VanEck Pharmaceutical ETF tracks the MVIS US Listed Pharmaceutical 25 Index. It has the capacity to provide big returns, even though there are some risks attached to the ETF. An analyst report indicates that investors looking for ‘tactical exposure’ to the pharma sector might consider this ETF as an investment option.

The ETF has 25 holdings, with the top five being Eli Lilly (NYSE:LLY) at a weight of 12.17 percent, AbbVie (NYSE:ABBV) at 6.48 percent, Johnson & Johnson (NYSE:JNJ) at 6.45 percent, Novartis (NYSE:NVS) at 5.43 percent and Cencora (NYSE:COR) at 5.34 percent.

2. iShares US Pharmaceuticals ETF (ARCA:IHE)

Total assets under management: US$571.51 million

Created on May 5, 2006, this iShares ETF tracks some of the top US pharma companies. In total, the iShares US Pharmaceuticals ETF has 41 holdings, with the vast majority being large-cap stocks.

Of its holdings, Eli Lilly and Johnson & Johnson are by far the largest portions in its portfolio, coming in at weightings of 24.55 percent and 23.38 percent, respectively. The next highest are Royalty Pharma (NASDAQ:RPRX) at 4.93 percent, Zoetis (NYSE:ZTS) at 4.80 percent and Viatris (NASDAQ:VTRS) at 4.57 percent.

3. Invesco Pharmaceuticals ETF (ARCA:PJP)

Total assets under management: US$240.1 million

The Invesco Pharmaceuticals ETF is primarily focused on providing exposure to US-based pharma companies. An analyst report states that this ETF chooses individual securities based on certain investment criteria, namely stock valuation and risk factors. Invesco changed the fund’s name from the Invesco Dynamic Pharmaceuticals ETF in August 2023.

This ETF was started on June 23, 2005, and currently tracks 31 companies. Its top holdings are Abbott Laboratories (NYSE:ABT) with a weight of 5.2 percent, AbbVie at 5.17 percent, Johnson & Johnson at 5 percent, Gilead Sciences (NASDAQ:GILD) at 4.94 percent and Eli Lilly at 4.86 percent.

4. SPDR S&P Pharmaceuticals ETF (ARCA:XPH)

Total assets under management: US$139.14 million

The SPDR S&P Pharmaceuticals ETF came into the market on June 19, 2006, and represents the pharmaceutical sub-industry sector of the S&P Total Markets Index. An analyst report for the ETF suggests that due to its narrow focus — which includes pharma giants that post ‘big returns’ during times of consolidation — it should not be considered for a long-term portfolio.

This pharma ETF tracks 43 holdings, with relatively close weighting among its holdings. XPH’s top five holdings are Corcept Therapeutics (NASDAQ:CORT) with a weight of 5.26 percent, Eli Lilly at 3.99 percent, Royalty Pharma (NASDAQ:RPRX) at 3.98 percent, Zoetis at 3.87 percent and Johnson & Johnson at 3.81 percent.

5. KraneShares MSCI All China Health Care Index ETF (ARCA:KURE)

Total assets under management: US$82.86 million

The KraneShares MSCI All China Health Care Index ETF was launched in February 2018 and tracks an index of large- and mid-cap Chinese stocks in the healthcare sector, all weighted by market capitalization. According to an analyst report, the fund provides investors with ‘exposure to a relatively small slice of the Chinese economy.’

The ETF tracks 46 holdings, and its top five are Jiangsu Hengrui Medicine (SHA:600276) at 8.33 percent, BeiGene (OTC Pink:BEIGF,HKEX:6160) at 7.88 percent, Shenzhen Mindray Bio-Medical Electronics (SZSE:300760) at 6.79 percent, Wuxi Biologics (OTC Pink:WXIBF,HKEX:2269) at 6.67 percent and Innovent Biologics (OTC Pink:IVBXF,HKEX:1801) at 5.51 percent .

Securities Disclosure: I, Melissa Pistilli, hold no investment interest in any of the companies mentioned in this article.

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This post appeared first on investingnews.com

Copper prices are being pushed skyward as China’s stockpiles sit on the verge of depletion and as US demand for the red metal surges, fueled by looming trade restrictions under the Trump administration.

According to Mercuria, the market is undergoing “one of the greatest tightening shocks” in its history.

“At the current pace of draws, those Chinese inventories could deplete (to zero) by the middle of June,” Nicholas Snowdon, head of metals and mining research at the commodities trading house, told the Financial Times.

“Beijing had a razor-thin inventory buffer” to meet its soaring domestic demand, he added.

Copper inventories held in Chinese warehouses fell by a record 55,000 metric tons last week alone, sinking to just 116,800 metric tons. The sudden drawdown has placed further stress on a market that is already being strained by geopolitical tensions and a shift in long-term demand driven by clean energy initiatives and electrification.

The copper squeeze is being exacerbated by US buyers rushing to secure supply ahead of potential new tariffs.

US President Donald Trump has signaled that his administration is investigating “dumping and state-sponsored overproduction” of copper, echoing the rationale used for the imposition of 25 percent levies on steel and aluminum.

Copper futures prices on the Comex in New York have soared, rising 16.35 percent year-to-date to trade for US$4.69 per pound. The rally has been further buoyed by signs that China’s Ministry of Commerce is open to trade talks with the US — it has reportedly “taken note” of Washington’s signals and is evaluating the possibility of engagement.

As a result, inventories in Comex warehouses have surged to their highest levels since 2018.

The copper crunch is not confined to refined metal.

Analysts warn that Chinese access to copper scrap — a vital feedstock for its smelting industry — is also under threat from retaliatory trade measures and possible US export controls.

China relies heavily on imported scrap, and the US remains a key supplier. In 2024, the US exported 960,000 metric tons of copper scrap, nearly half of which went to China, according to data from Fastmarkets.

This year, exports are already trending lower: 142,000 metric tons were shipped in January and February, down from 149,000 metric tons in the same period last year. If the US imposes a ban on scrap exports or China imposes retaliatory import duties, the shortage in Asia’s largest economy could become even more acute.

Copper’s strategic role in the energy transition

Beyond short-term trade politics, copper is at the heart of a deeper structural transformation.

As the global economy pivots toward electrification and decarbonization, demand for the base metal is set to soar — despite advances in material efficiency and substitution.

During a recent webinar, Michael J. Finch, head of strategic initiatives at commodities price and data firm Benchmark Mineral Intelligence, noted that the accelerating deployment of electric vehicles (EVs), EV charging infrastructure and renewable energy sources is rapidly driving up copper intensity across energy systems.

“What … we can’t forget is, what are the requirements on the grid network? What are the requirements on power generation because of EVs, because of the charging infrastructure?” Finch said. He emphasized to attendees that while copper usage per EV has declined from around 100 kilograms in 2015 to about 68 to 70 kilograms today due to design optimizations and thrifting, total copper demand from the EV sector is still expected to rise sharply.

“We’re still looking at a market here … (of) over 5 million tonnes by 2040,” he said.

“That’s going to need a lot of charging infrastructure. That’s going to need a lot of grid upgrades. That’s going to need a lot of renewable power to be put in place,’ Finch added.

The overlapping dynamics of geopolitical uncertainty, rising protectionism and shifting energy priorities have created a volatile cocktail that could reshape global copper trade flows.

Efforts are underway in the US to take advantage of this shift. European copper producer Aurubis is investing 740 million euros in a new recycling facility in Richmond, Georgia, aimed at bolstering domestic supply. The plant, which is expected to be operational by the end of the fiscal year, will rely primarily on scrap sourced within the US.

Meanwhile, analysts are watching closely to see if the US and China can defuse trade tensions before they further destabilize a market that is already stretched thin.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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This post appeared first on investingnews.com

Tether’s Next Focus:- Crypto IPOs this year have surged this year. eToro, Circle, Animoca Brands, Kraken, are among the top crypto companies that are eyeing IPO in 2025.

Adding on to this, in a latest update, Singapore-based Antalpha has also launched its roadshow for its upcoming IPO on NASDAQ.

According to the Form-1 SEC filing Antalpha has filed, the stablecoin giant Tether will be buying the company shares too.

Antalpha is a key lending partner of the Bitcoin mining giant and provides Bitcoin supply and margin laons. Its subsidiary Antalpha Prime Technology platform give its clients digital asset loans, such as borrowing Stablecoins of fait against crypto collateral.

It also manages a web-3 focused funding venture, Antalpha Ventures. It  has actively invested in a diverse portfolio of early-stage Web3, blockchain, and digital asset infrastructure companies.

Few of the names include Avalon Labs, Solv Protocol, Orderly Network, DAOBase, Mint Blockchain, CoinFX, among others.

Tether to Invest in Antalpha IPO: All you need to Know

As per the press release accessed by Coingape, Antalpha plans to offer approximately 3.85 million ordinary shares under the ticker symbol “ANTA.” The expected price range is between $11.00 and $13.00 per share.

The company aims to raise approximately $46 million through the IPO. This would value it at around $277 million at the midpoint of the proposed price range.

Fort the financials, in the 12 months ending December 31, 2024, Antalpha reported revenue of $47 million. 

Notably, Tether, the issuer of the USDT stablecoin, will be purchasing up to $25 million worth of shares in the offering, representing about 54% of the deal.

Antalpha’s move to go public comes amid a resurgence in crypto companies going public particularly in the United States. Further, the company’s close relationship with Bitmain also positions it strategically within the Bitcoin mining ecosystem.

Also Read: Michael Saylor Hits At Microsoft

Why the IPO Matters for Crypto Mining Business

With the fund raised from the IPO, Alphanta aims to increase its Bitcoin loan services for the Bitcoin mining industry players.

Besides Bitcoin loans, it also provides supply chain loans that includes mining machine laons, Hashrate loans in USD-denominations.

According to the SEC Form-1 filing, the company has also shown interest in exploring new finical solutions for restricting the rising electricity costs with crypto mining.

The IPO is contingent upon the effectiveness of a registration statement filed with the U.S. Securities and Exchange Commission (SEC), which has not yet become effective.

As such, these securities cannot be sold, nor offers to buy accepted, until the registration statement is effective.

But if accepted, with the Antalaphe IPO, crypto mining business will indirectly receive boost. The raised funds by the company will be used by the company to provide loans for the purchase of crypto mining machines. It is also likely to invest more via its Alphanta Ventures in the emerging web3 projects.

Related: eToro IPO

The post Tether Shows Interest As Bitmain’s Major Lending Partner Files for NASDAQ IPO appeared first on CoinGape.

As the two nuclear nations – India and Pakistan – engaged in a military confrontation on Tuesday, Solana-based token under the name of ‘Operation Sindoor’ has started floating in the market, as investors seek to ride the momentum. These tokens have been majorly circulating on decentralized exchanges and trading up 24% with trading volumes of just over $20K.

Newly Created ‘Operation Sindoor’ Solana Tokens Raise Concerns

A series of newly minted crypto assets, named after themes like “Operation Sindoor” and “Pahalgam,” have surfaced on the Solana blockchain. Most of these tokens have low market capitalizations and minimal trading volumes, with some linked to “Operation Sindoor” appearing just hours ago, just after India launched precision strikes on Pakistan terror camps on Tuesday.

Industry analysts have noted the lack of key indicators of legitimacy for these assets. Many tokens fail to provide essential documentation such as whitepapers, official websites, or active social media channels, which are typically expected from credible projects.

Major market events tend to create hype in the early hours, with some players capitalizing on it. We have often seen this with Solana-based meme coins launched after celebrities or things. However, the liquidity usually dries up after the event fades, and retail players need to maintain caution while riding these trends.

Crypto Market Reaction in the Aftermath

In the aftermath of these attacks, the crypto market remains largely stable today while investor optimism picks up once again ahead of today’s FOMC meeting. There’s a 95% probability that the Fed rate cuts won’t happen during this meeting, however, the market seems to be looking past that.

As of press time, Bitcoin price is trading 3.43% up at $96,988, as investors await a potential breakout to $100K levels and beyond to fresh all-time highs. On the other hand, altcoins have also gained momentum with top players gaining 3-5% today, while awaiting the passing of crypto legislation by the US Senate.

The post Solana-Based Operation Sindoor Token Gains Traction Amid India’s Missile Strike on Pak appeared first on CoinGape.

In this competitive crypto market, several turn their heads to crypto prediction tools to ease their trading journey. Though, traditional crypto prediction markets often promise simplicity, they actually deliver cluttered interfaces, endless wallet approvals, and confusing user flows. These layers of friction can frustrate even seasoned DeFi users, making fast-paced predictions feel like a slow, technical grind. But the scenario is changing with this telegram bot.

Hardbeed looks to solve all the aforementioned complaints. Instead of building more complex apps, some projects like this one are exploring lightweight, non-custodial models that reduce friction and shift the user experience away from traditional web interfaces.

It offers a stripped-down experience with no user interface, no wallet connections, no deposits, and no accounts. Instead, everything happens through two smart contract addresses, with a read-only Telegram stats bot available for real-time updates.

Hardbeed—A prediction protocol without a platform

Hardbeed offers one-minute binary options on the ETH/USDC price with no website to visit or app to install. To make a prediction, users simply send ETH from their own wallet to one of two designated smart contract addresses: one for “Up,” the other for “Down.” There’s no wallet connection, no approvals, and no deposits in the traditional sense. The only transaction you make is your on-chain prediction.

At the end of each round, the outcome is determined using on-chain Uniswap v3 data, and payouts are resolved automatically by the smart contract with no off-chain intervention. If the prediction is incorrect, there is no further action as the loss is final while no funds are retained by the protocol.

All ETH at stake is pooled together, and the winners split the pot proportionally based on the size of their action. The fewer people who guessed correctly, the larger each winner’s share. Users will always need to pay gas for each transaction.

Telegram bot as the control center

Since Hardbeed does not feature a traditional frontend, the only real interface is a familiar Telegram bot. Technically speaking, it isn’t a bot in the interactive sense. It’s just there for stats. Users can check how much ETH is staked on each side of the current round, see how much time is left, and monitor recent results, much like at a roulette table.

There’s no registration, no KYC verification process, and no accounts to set up. The trustworthiness of actions is backed by Ethereum smart contracts, which means every action is public, auditable, final, and fair.

What’s most appealing about Hardbeed is the way it’s reinventing trust in a sector where scams and theft are common. Hardbeed doesn’t need slick marketing or certifications from sketchy jurisdictions to convince you it can be trusted. Instead, you place your trust in Ethereum itself. You don’t deposit funds, click any buttons, or don’t wait days for withdrawals. All you do is send ETH, and the result is final – win or lose. It’s a simplification of the prediction experience that aligns more closely with crypto’s original ethos.

Source: Telegram

A stripped-down user experience

For more advanced DeFi users, Hardbeed can be described as refreshing. There’s a certain degree of simplicity in making an on-chain prediction this way. There’s no need to worry about misclicking a UI element, connecting the wrong wallet, or wondering if your balance is stuck in limbo.

At the same time, the experience can be intimidating. There’s no “are you sure?” prompt. No timer bar. No feedback unless you check the bot or manually track your transaction. One might say the learning curve isn’t steep, but it’s sharp, especially for users who’ve only interacted with polished Web3 interfaces designed by marketing teams.

There are, of course, some drawbacks, although through no fault of Hardbeed. Since each round is just one minute, there’s very little room for error. If you send a transaction late, you might miss the round entirely. If gas is too low, your action may not be confirmed in time.

These quirks likely won’t bother more experienced users, though they may be seen as part of a learning curve for users newer to on-chain tools. That said, this is a reasonable trade-off for a system with simplicity and decentralization at its core.

Who is Hardbeed meant for?

Hardbeed’s target user seems clear: crypto natives who value autonomy, transparency, and speed over visual polish. These are likely individuals who would rather read a contract than browse a UI.

One would be forgiven for assuming Hardbeed is exclusive to tech maximalists. But anyone with a basic understanding of ETH transfers and on-chain mechanics can try it out. Since there’s no signup, no approvals, and no minimum balance requirement beyond the prediction itself, users can walk away if they aren’t pleased with the experience after just one minute.

The project launched in January 2025 and has already seen daily cumulative volumes around 14,500 ETH. That suggests a varied user base, although one would assume a few whales account for the majority of transactions. Still, the system is built to be fair for users of all kinds.

Risks and realities

It’s worth emphasizing that binary options are high-risk. Each round is an all-or-nothing kind of a deal. This isn’t where you can fold your hand after posting a big blind.

Sure, the platform removes a lot of the usual friction and middlemen, but it doesn’t remove the chance of rapid losses, especially in a one-minute cycle, which might feel like an hour. During periods of high volatility, even 10 seconds can feel like an eternity.

Since every prediction is a separate on-chain transaction, Ethereum network fees can add up quickly, especially for smaller amounts, but this is a limitation of the blockchain, not the platform itself. And while the platform requires no custodial deposits, the minimum action is dynamic, tied to the current gas price, with a floor of around 50,500 gwei * gas.

Final thoughts

Hardbeed is a fast and transparent minimalist’s binary options protocol. For the kind of user who sees too many platforms as overbuilt and over-trusted, it may feel like the most stripped-down approach to binary predictions yet.

Hardbeed removes the noise and replaces it with something rare in prediction protocols: clarity. In doing so, it offers a new model that proves fairness doesn’t require flair. For those comfortable with the risks, it’s setting the standard for what on-chain prediction protocols can achieve.

The post Tired Of Complex Crypto Prediction? Check Hardbeed—A No-UI Telegram Bot That Is Changing The Market appeared first on CoinGape.

In the latest development within the Ripple ecosystem, the XRP token is on the radar for a potential game-changer. With the New Hampshire Digital Asset Reserve law passed, experts predict XRP’s inclusion in the reserve, sparking widespread enthusiasm.

Is a strategic XRP reserve possible? Of course, yes, say legal experts. However, there’s still a condition that the token needs to meet.

This article explores the possibility of an XRP reserve and its requirements. Let’s dive into the details and what this could mean for Ripple’s future.

Strategic XRP Reserve on the Horizon? Expert Weighs In

In response to the recent HB 302 Bill passed by New Hampshire, legal expert Fred Rispoli has shared insights on the potential adoption of Ripple’s XRP as a crypto reserve. The law authorizes the State Treasurer to invest in cryptocurrencies with a market cap exceeding $500 billion—a criterion currently met only by Bitcoin. Rispoli wrote on his X post, “According to this law that was passed, if XRP hits a $500B market cap this year then it is also eligible for the NH digital asset strategic reserve in 2026!”

According to Rispoli’s X post, XRP is likely to be adopted as a Strategic Reserve in New Hampshire if the token’s market cap surges past $500 billion. Currently ranked 4th with a market cap of $125.25 billion, this milestone seems ambitious. However, the coin’s growing demand and adoption suggest it’s not entirely out of reach.

Government Bonds: A Revolutionary Idea

In a parallel development, Black Swan Capitalist proposed a bold concept involving XRP. He sparked a lively debate on introducing XRP-backed government bonds. According to the proposal, the US government could issue debt instruments denominated in Ripple’s coin, offering investors a fixed yield and redemption at maturity. This move aims to modernize sovereign debt markets with blockchain technology for improved efficiency and transparency.

This increased use case, coupled with the growing institutional adoption of the Ripple token, significantly bolsters Fred Rispoli’s prediction. The speculation is further intensified by emerging reports that US banks are exploring XRP adoption.

The post XRP Could Qualify for U.S. Strategic Reserve; Here’s How appeared first on CoinGape.

XRP price continues to consolidate for more than three consecutive months. This range tightening has reeled in investors betting on a breakout direction. As a result, nearly $60 million worth of long positions will be wiped if price moves just 4%. With the Fed meeting scheduled for 2 pm ET today, investors can count of increased volatility. 

Liquidation Risk Amplifies for XRP Traders

XRP price prediction remains flat as the token is stuck in a range, extending from $2.06 to $2.60. Typically, range-bound movement attracts more capital from investors attempting to catch a breakout trade. The same is the case for Ripple’s XRP, as confirmed by data from Coinglass. Nearly $60 million worth of bulls will face liquidation if XRP price drops just 4% and sweeps $2.063.

XRP Liquidation Map

Will XRP drop lower or climb higher ahead of the key fed meeting? 

What to Expect From Fed Meeting Today

The market consensus is that the Federal Reserve Chariman Jerome Powel and its members will keep the target rate unchanged, in the 4.250% to 4.50% range. This outcome is already priced in. Despite this, there will be volatility that could cause short-term pain on both sides as noted above.

All eyes are on the Federal Open Market Committee (FOMC), where any change in Powel’s tone or guidance for the future could impact XRP, which is a risk-on asset like the stock or the crypto markets.

If the Fed hints at easing or rate cuts, it could cause Bitcoin price rally that could help alleviate the bearish pressure on altcoins, including XRP. Let’s explore XRP price prediction and key levels to watch using technical analysis. 

XRP Price Prediction & Analysis Ahead of Fed Meeting

XRP price has traded within the $2.06 to $2.60 for three months, and about 70% of the volume was traded in this range. Interestingly, the liquidation risk for long positions is at the range low of the aforementioned value area.

The outlook for altcoins remains bullish, with $2.41 as the first key hurdle, also known as High Volume Node (HVN). Beyond this, XRP price needs to overcome the range high at $2.60 to reach the next HVN at $3.11. 

XRP/USDT 1-day chart

On the other hand, weakness in Bitcoin (BTC) due to the Fed meeting could invalidate the above bullish outlook. A breakdown of $2.06 could catalyze a selling spree from long positions. In that case, the Low Volume Node (LVN), XRP price could slide swiftly from $1.87 to $1.56.

The post XRP Price Prediction: 4% Move Risk $60M Liquidation Ahead of Fed Meeting appeared first on CoinGape.

Amazon’s Zoox issued a software recall for 270 of its robotaxis after a crash in Las Vegas last month, the company said Tuesday.

The recall surrounds a defect with the vehicle’s automated driving system that could cause it to inaccurately predict the movement of another car, increasing “the risk of a crash,” according to a report submitted to the National Highway Traffic Safety Administration.

Zoox submitted the recall after an April 8 incident in Las Vegas where an unoccupied Zoox robotaxi collided with a passenger vehicle, the NHTSA report states. There were no injuries in the crash and only minor damage occurred to both vehicles.

“After analysis and rigorous testing, Zoox identified the root cause,” the company said in a blog post. “We issued a software update that was implemented across all Zoox vehicles. All Zoox vehicles on the road today, including our purpose-built robotaxi and test fleet, have the updated software.”

Zoox paused all driverless vehicle operations while it reviewed the incident. It’s since resumed operations after rolling out the software update.

Amazon acquired Zoox in 2020 for over $1 billion, announcing at the time that the deal would help bring the self-driving technology company’s “vision for autonomous ride-hailing to reality.” However, Amazon has fallen far behind Alphabet’s Waymo, which has robotaxi services operating in multiple U.S. markets. Tesla has also announced plans to launch a robotaxi offering in Austin in June, though the company has missed many prior target dates for releasing its technology.

Zoox has been testing its robotaxis in Las Vegas, Nevada, and Foster City, California. Last month, Zoox began testing a small fleet of retrofitted vehicles in Los Angeles.

Last month, NHTSA closed a probe into two crashes involving Toyota Highlanders equipped with Zoox’s autonomous vehicle technology. The agency opened the probe last May after the vehicles braked suddenly and were rear-ended by motorcyclists, which led to minor injuries.

This post appeared first on NBC NEWS

Communication Services Drops to #5

The composition of the top five sectors remains largely stable this week, with only slight adjustments in positioning. Consumer staples continue to lead the pack, followed by utilities, financials, real estate (moving up one spot), and communication services (dropping to fifth). This defensive lineup persists despite a rallying market, presenting an interesting dilemma for sector rotation strategies.

  1. (1) Consumer Staples – (XLP)
  2. (2) Utilities – (XLU)
  3. (3) Financials – (XLF)
  4. (5) Real-Estate – (XLRE)*
  5. (4) Communication Services – (XLC)*
  6. (6) Healthcare – (XLV)
  7. (7) Industrials – (XLI)
  8. (8) Materials – (XLB)
  9. (11) Technology – (XLK)*
  10. (10) Energy – (XLE)
  11. (9) Consumer Discretionary – (XLY)*

Weekly RRG

The weekly Relative Rotation Graph (RRG) paints a picture of potential change on the horizon.

While staples, utilities, real estate, and financials maintain their positions in the leading quadrant, they show signs of losing relative momentum over the past few weeks.

Financials, particularly, are teetering on the edge of rolling into the weakening quadrant.

Communication services have already shifted, now firmly in the weakening quadrant and traveling on a negative RRG heading. This movement explains its drop to the fifth position in our sector rankings.

Daily RRG

Switching to the daily RRG, we see a slightly different picture for our top sectors.

Staples, utilities, real estate, and financials are all positioned in the weakening quadrant, traveling on negative RRG headings.

This short-term view indicates that we must closely monitor these sectors to determine if they can regain momentum before potentially dropping out of the top five.

Interestingly, communication services is showing signs of life on the daily chart. Despite falling to the fifth position overall, its tail is now in the improving quadrant and moving toward leading.

The caveat? It’s a very short tail, close to the benchmark—essentially moving in line with the market. This makes communication services the sector most at risk of losing its top-five status in the near term.

Consumer Staples

Consumer staples is bumping up against overhead resistance between $82.50 and $83.

This hesitation in upward price movement is causing weakness in the RS line, which has started to dip.

Consequently, the RS momentum line is rolling over. However, the high RS ratio—indicating a strong relative trend—is keeping staples at the top of our list for now.

Utilities

Utilities has been flirting with a breakout since the start of 2025, pushing against overhead resistance around $80 about four times already.

When it breaks, we’ll likely see an acceleration towards the all-time high just above $82.50.

Like staples, the inability to break resistance is causing a stall in the RS line and a rollover in relative momentum.

Financials

After a strong rally off the $42 support level, previously resistance (the old technical adage holds true), financials is now facing a challenge.

The rally is approaching the former rising support level that marked the uptrend channel. This could cause some hesitation in both price and relative strength.

The RS line remains within its rising channel, but momentum has waned, causing the green RS momentum line to roll over.

Real-Estate

Real estate moved up one position to fourth and is still emerging from a long relative downtrend that began in April 2022.

The RS ratio line has picked up the relative strength rally that started in early 2025 but is now stalling.

This has resulted in the green RS momentum line rolling over. On the price chart, real estate is mid-range with room to move higher.

Communication Services

Communication services have dropped to the fifth position, but the price chart has an interesting development.

Last week, the price broke back above the old neckline of a small head-and-shoulders pattern. The fact that we’re now rallying above this neckline could indicate a failed head-and-shoulders pattern—usually a very strong bullish sign.

However, recent weakness in relative strength has pushed the sector deeper into the weakening quadrant on the RRG.

This sector must pick up rapidly in the coming weeks to maintain its position in the top five.

Portfolio Performance

The defensive positioning of our top five sectors is leading to underperformance as the broader market rallies.

Currently, we remain at approximately a 3% underperformance compared to SPY just like last week.

However, from the perspective of sector rotation, we must still consider this rally in the S&P 500 to be temporary.

The underlying message continues to emphasize defense.

It’s important to remember that there is always a lagging element in RRGs and this strategy.

If the market has truly turned, we will see that shift reflected in our sectors, and at some point, we will start to make up the difference.

These performance gaps can change very rapidly in favor of the RRG portfolio when the market comes under pressure and our defensive sectors start to lead again.

#StayAlert and have a great week — Julius

In this video, Dave reveals four key charts he’s watching to determine whether the S&P 500 and Nasdaq 100 will be able to power through their 200-day moving averages en route to higher highs. Using the recently updated StockCharts Market Summary page, he covers moving average breadth measures, his proprietary Market Trend Model, offense vs. defense ratios, and the Bullish Percent Indexes.

This video originally premiered on May 5, 2025. Watch on StockCharts’ dedicated David Keller page!

Previously recorded videos from Dave are available at this link.