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TSX Venture Exchange, Gold & Overall Markets

In an uneventful though positive September, the Venture stayed above strong support in the low 780’s and posted a gain of 14 points or 1.8% for the month.   That was enough to eclipse the performances of the Dow, the TSX and even Gold which added just $7 or less than 1% to finish September at $1,316.  Silver gained 54 cents or 2.9%, Oil surged 7.0% as OPEC members made progress in working toward a production cut, while Nickel and Copper climbed 8.4% and 5.3%, respectively.

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 August close to year-end.  The average gain is nearly 30% which means it’s not unreasonable to expect the Venture to find its way to 1000 by year-end, though there will need to be some “catalysts” to whip up fresh energy after the strong run from February into the first half of August.

The U.S. Presidential election came into greater focus last week with the much anticipated debate Monday night between Hillary Clinton and Donald Trump.  A strong Trump performance may have been disruptive for the markets (though positive for Gold), but Clinton was the consensus winner and has seen her poll numbers improve modestly as a result according to fivethirtyeight.com.   As long as Clinton is perceived to be President-elect after November 8, North American markets will find the status quo favorable for the time being while Janet Yellen can feel comfortable with the idea of remaining as Fed Chair and continuing a policy of strong monetary accommodation.  Markets will no doubt go back-and-forth on the possibility of another Fed rate hike by December.  Central banks across the globe, however, have lost much credibility this year and that’s going to limit Gold’s downside and provide new opportunities for significant new gains over the next 6 months, regardless of what the Fed does.

Today’s Week In Review and A Look Ahead includes September’s best performers on the BMR Top Opportunities List including Cannabix Technologies (BLO, CSE) which added 70% to finish the month at 34 cents and within shouting distance of its yearly high.

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.