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Biotech is a dynamic industry that is driving scientific advances and innovation in healthcare. In Canada, the biotech sector is home to companies pursuing cutting-edge therapies and medical technologies.

According to Grandview Research, the global biotech market is expected to grow at a compound annual growth rate of 13.96 percent between 2024 and 2030 to reach a value of US$3.08 trillion.

Read on to learn what’s been driving these Canadian biotech firms.

1. Bright Minds Biosciences (CSE:DRUG)

Year-on-year gain: 2,681.82 percent
Market cap: C$322.61 million
Share price: C$45.90

Bright Minds Biosciences is focused on developing novel treatments for neuropsychiatric disorders and pain.

Its portfolio consists of serotonin agonists designed to target neurocircuit abnormalities that make disorders like epilepsy, post-traumatic stress disorder and depression difficult to treat. The company’s drugs have been designed to potentially retain the powerful therapeutic aspects of psychedelic and other serotonergic compounds, while minimizing their side effects, thereby creating superior drugs to first-generation compounds such as psilocybin.

In October 2024, the company’s share price surged nearly 1,500 percent in a single session after global pharmaceutical company H. Lundbeck announced its intention to acquire Longboard Pharmaceuticals. Both Longboard and Bright Minds have agonists targeting the 5-HT2C receptorin their pipelines.

Bright Minds’ 5-HT2C agonist candidate, BMB-101, will target classic absence epilepsy and developmental epileptic encephalopathy. The company is currently evaluating Phase II trials in collaboration with Firefly Neuroscience (NASDAQ:AIFF).

In March of this year, Bright Minds added five world-renowned leaders in epilepsy research to its scientific advisory board.

2. ME Therapeutics Holdings (CSE:METX)

Year-on-year gain: 145.9 percent
Market cap: C$235.71 million
Share price: C$9.00

ME Therapeutics is a biotechnology company focused on developing cancer-fighting drug candidates that can increase the efficacy of current immuno-oncology drugs by targeting suppressive myeloid cells, which have been found to hinder the effectiveness of existing immuno-oncology treatments. Immuno-oncology is a relatively new area of cancer drug research and has shown promising results when used to treat cancer with low survival rates.

In December 2023, the company shared research done in collaboration with Dr. Kenneth Harder at the University of British Columbia. The work suggests that ME Therapeutics’ antibody, h1B11-12, successfully blocks a protein that fuels breast and colon cancer growth (G-CSF). Trial planning efforts are ongoing, and the company expects development of a cell line for future production of the drug to be finished in the latter half of 2025.

In addition, the company is part of an ongoing collaborative effort to develop therapeutic MRNA delivery methods to myeloid cells with NanoVation Therapeutics, a privately owned biotech company that develops customized nucleic acid and lipid nanoparticle technologies to empower genetic medicine.

The collaboration has already resulted in two new MRNA formulations, for which testing began on October 4, and has demonstrated encouraging anti-cancer activity in a preclinical model of colorectal cancer.

On March 3, ME Therapeutics shared that it is exploring a listing on the Nasdaq or the New York Stock Exchange.

3. Hemostemix (TSXV:HEM)

Year-on-year gain: 80 percent
Market cap: C$13.36 million
Share price: C$0.09

Hemostemix is a clinical-stage biotech company focused on developing autologous stem cell therapies, an approach that uses a patient’s own cells to theoretically enhance safety and efficacy. Its main product, ACP-01, is a cell therapy derived from a patient’s blood to promote tissue repair and regeneration in areas affected by disease.

The company announced its first sales orders for ACP-01 on January 29 and has been working to expand internationally and attract new investment.

Hemostemix is currently collaborating with Firefly Neuroscience on a Phase 1 clinical trial of ACP-01 for vascular dementia. As of writing, efforts to fully enroll the trial to its target size are underway.

4. Eupraxia Pharmaceuticals (TSX:EPRX)

Year-on-year gain: 17.07 percent
Market cap: C$173.51 million
Share price: C$5.28

Eupraxia Pharmaceuticals focuses on developing locally delivered therapeutics for patients with unmet medical needs. Its primary focus has been orthopedics and oncology. Eupraxia acquired EpiPharma Therapeutics in late 2023, absorbing the company’s lead candidate EP-104GI.

In February, the company released positive data from the sixth cohort of its Phase 1b/2a trial for EP-104GI in eosinophilic esophagitis. It plans to release additional data periodically, with 12 week data for the trial’s seventh cohort expected in late Q2 2025.

5. Microbix Biosystems (TSX:MBX)

Year-on-year gain: 4.48 percent
Market cap: C$48.17 million
Share price: C$0.35

Microbix Biosystems manufactures antigens and quality control products used in the development of diagnostic tests. They also develop products to ensure test accuracy.

In January, Microbix partnered with the American Proficiency Institute to launch a pilot program to validate the accuracy of molecular assays in testing the H5N1 strain of the influenza A virus.

In March, the company joined the EPICC HPV Elimination Partnership to support test accuracy by supplying materials to support the accuracy of HPV testing efforts. These strategic collaborations highlight the company’s commitment to ensuring reliable and accurate diagnostic testing worldwide.

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

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Nickel prices have largely trended down since breaking US$20,000 per metric ton in May 2024.

The decline has been attributed to refined nickel oversupply, driven by high output from Indonesia, which mined an estimated 2.2 million metric tons of nickel in 2024 and accounted for more than 50 percent of global output.

The threat of US tariffs has also weighed heavily on markets that are reliant on nickel and its downstream products, such as the stainless steel and electric vehicle battery industries.

These factors pushed nickel to five year lows in the US$15,000 range in Q1.

What happened to the nickel price in Q1?

Nickel price, January 2 to April 22, 2025.

Chart via Trading Economics.

While nickel has trended down for the past year, 2025 began with upward momentum. It opened the year at US$15,040 on January 2 and rose to US$16,080 before declining to close out the month at US$15,230.

Nickel prices started to gain briefly at the beginning of February, increasing to US$15,875 on February 6 before experiencing volatility until the end of the month, finishing at US$15,590 on February 28.

The start of March saw upward movement, and nickel hit a year-to-date high of US$16,720 on March 12.

Prices for the base metal remained above the US$16,000 mark until the end of March, when substantial pressures caused levels to plunge to US$14,150 on April 8.

What factors impacted nickel in Q1?

Over the past several years, oversupply has presented a significant headwind for nickel prices.

Due to heavy investment from China, Indonesia has emerged as the world’s dominant nickel supplier. However, even though its refined output has remained high, Indonesia has faced a tight nickel ore market because of reduced quotas, which have compelled smelters to import record volumes from the Philippines.

A recent Filipino government proposal to follow Indonesia’s lead in banning exports of raw nickel products could disrupt the situation and introduce further challenges for refiners, impacting global supply chains.

The proposal arose amid rumors of higher mining royalties that have circulated since the start of the year. This speculation boosted nickel prices as higher production costs started to be factored into prices.

The royalty hikes were approved on April 11, and will raise the current 10 percent rate to between 14 and 19 percent, depending on the nickel price. Lower-quality nickel mattes used in battery production will incur a 2 percent royalty.

Jason Sappor, senior analyst for metals and mining research at data provider S&P Global Commodity Insights, noted that the increase will pose another challenge for the industry.

Indonesian nickel miners previously asked the government to reconsider the change.

In a letter to government officials, industry stakeholders stated that the increases to mining royalty levels in the country are “unrealistic and do not reflect the current state of the industry.”

Another factor that impacted the nickel industry during the first quarter of the year was the threat and eventual implementation of US tariffs against China, the world’s largest consumer of nickel.

Ewa Manthy, commodities strategist with ING, suggested tariffs will further impact a beleaguered nickel market.

“London Metal Exchange (LME) nickel has been mostly rangebound amid heightened trade tensions,’ she said.

Manthy’s prediction has held true so far, with nickel prices plummeting 11.5 percent in the week following US President Donald Trump’s tariff announcement on April 2. The move has sparked fears among investors who worry that the escalating trade war will push the world into a global recession.

Even though nickel rebounded after Trump put a pause on larger reciprocal tariffs, there is still a high level of uncertainty regarding nickel demand, especially as the effective tariff rates on China have grown to 145 percent.

Tariffs set to weigh on weak nickel demand

Tariffs are unlikely to affect nickel supply in the short term; however, they could significantly impact demand. The effects will be more pronounced in the US, as tariffs will more than double the costs of goods from China for importers.

The primary destination for nickel is the production of stainless steel.

While long-term global demand is expected to remain robust, with refined nickel projected to see a 4.6 percent compound annual growth rate between 2023 and 2035, there are more immediate headwinds.

Demand for stainless steel in China’s housing sector and slower growth in home appliances has dragged down overall nickel demand in the Asian nation. Although the overall effects could be worse, government policy and stimulus have only provided marginal support. Chinese stainless steel markets were also affected as new carbon tariffs and anti-dumping duties from Europe’s carbon border adjustment mechanism came into effect.

This has led analysts to predict another year of surpluses in China’s stainless steel market, with production increasing by 10.6 percent year-on-year in the first quarter and March output coming to 3.58 million metric tons. Even so, stockpiles stand at 155,000 metric tons, down significantly from 333,000 metric tons in Q1 2024.

The size of the stainless steel market may help moderate a decline in demand from the electric vehicle battery market, which is another significant destination for nickel. According to an April 14 report from S&P Global, the fall in battery demand comes despite growing demand for electric vehicles in both China and Europe; this has been attributed to producers transitioning to nickel-free battery chemistries, particularly lithium-iron-phosphate.

Producers see a greater cost advantage in this composition, and the switch has caused demand for nickel-manganese-cobalt batteries to shrink by 19 percent from January to February.

Due to this fallout, battery precursor producer CNGR Advanced Material (SZSE:300919) said it would be pausing investment in its South Korean nickel smelting project.

The battery sector represented 11.5 percent of total nickel demand in 2024.

Nickel price forecast for 2025

The short term for nickel could very well hinge on how Trump’s tariffs affect the global economy.

“A slowdown in global economic activity would have a detrimental impact on China’s exports of nickel-containing consumer goods, denting global primary nickel demand in a market already grappling with oversupply due to expanding production in top primary nickel producers Indonesia and China,” Sappor said.

He added that weaker fundamentals will likely increase bearishness in the nickel market and ultimately work to further depress prices for the base metal on the LME.

“Considering these potential dynamics as well as further evolutions in the Trump administration’s trade tariff policies, we expect nickel prices to remain volatile in the near term,” Sappor stated.

Manthy is also pessimistic about a market turnaround in the near to medium term.

“The main downside risk to our supply and demand outlook is further downgrades to nickel demand from the electric vehicle sector, but this could be offset by no growth in Indonesian supply. The medium-term supply and demand balance is not supportive of a significant rise in nickel prices,” she said.

For investors, a bear market might provide opportunities, but the risk is that nickel prices may still have a ways to go before they bottom out. The next quarter could offer more certainty in global financial markets.

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

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Longtime ESPN play-by-play commentator Mike Patrick passed away Sunday at the age of 80.

Per ESPN, Patrick’s doctor confirmed that the West Virginia native — who was the voice of ESPN’s ‘Sunday Night Football’ for 18 seasons — died of natural causes in Fairfax, Va.

Patrick rose to national prominence at ESPN starting in 1982, and was a consistent presence on the network’s football and basketball broadcasts for over 30 years. His final ESPN call came in the 2017 AutoZone Liberty Bowl.

That career included being the play-by-play announcer for the first NFL regular-season game ever broadcast on ESPN, back in 1987, with Joe Thiesmann and Paul Maguire frequently joining him as color commentators over the years. Patrick would go on to be the voice of ‘Sunday Night Football’ from 1987 through 2005, as well as over three decades of ACC men’s basketball championship games and the network’s Women’s Final Four games from 1996-2009.

Patrick’s voice was a familiar one to ESPN viewers, as he was the lead announcer for many years of college football and the College World Series, including ‘Thursday Night Football’ and ‘Saturday Night Football’ broadcasts.

Mike Patrick career

Patrick first took to the airwaves in 1966, working at Somerset, Penn. radio station WVSC. Four years later, he moved on to Jacksonville, Fla. TV station WJXT, where he became the sports director and began calling World Football League games for the Jacksonville Sharks, along with Jacksonville University basketball.

Patrick headed back north in 1975, taking up a post as a reporter and weekend anchor for Washington, D.C.’s WJLA. There, he called University of Maryland football and basketball games, as well as Washington NFL preseason games for the next seven years.

Patrick then joined ESPN in 1982, not long after the network launched, and would remain there until retiring in 2018. Over the years, he became best known as the voice of ‘Sunday Night Football,’ calling NFL games for 19 seasons from 1987-2005. Patrick’s first call of a college football game for ESPN came in 1985, and he would go on to be the lead play-by-play announcer for ‘Thursday Night Football’ from 1991-97, and in 2006 moved over to ‘College Football Primetime.’

From 2009-17, Patrick was on the mic for ESPN and ABC broadcasts of college games on Saturday afternoons while continuing to work the College World Series, the women’s Final Four, and numerous NFL playoff games on ABC. Patrick’s work extended into the world of video games as well, with EA Sports hiring him as the voice of the MVP: NCAA Baseball series in 2006 and 2007.

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Boston Celtics reserve guard Payton Pritchard is the 2024-25 NBA Sixth Man of the Year.

Pritchard averaged a career-high 14.3 points for the Celtics, led the NBA in points off the bench with 1,079 in 80 games and set an NBA single-season record for most 3-pointers off the bench with 246. He was third among reserves in assists (257) and had the league’s best plus-minus of any reserve at plus-428.

Pritchard shot a career-high 47.2% from the field and made 40% of his 3-point attempts for the third time in six seasons with the Celtics, who had one of the league’s top benches. Hs 3.8 rebounds, 3.5 assists 28.4 minutes per game were also career highs.

“Payton is one of the most dedicated players I’ve ever been around,” Boston Celtics president of basketball operations Brad Stevens said in a news release. “He truly loves the game and is committed to the work that goes into being great. In addition, he’s driven by winning and doing whatever it takes to help the team.’

He had two games with at least 30 points this season, including a career-high 43 points against Portland on March 5. He 24 games with at least 20 points and 22 games with at least five made 3s, including 10 against the Trail Blazers making him the eighth NBA reserve to make 10 or more 3s in a game.

Pritchard, a first-time winner of the trophy named after Celtics great John Havlicek, received 82 of 100 first-place votes, 13 second-place votes and five third-place votes and finished with 454 points ahead of Detroit’s Malik Beasley (279 points) and Cleveland’s Ty Jerome (81 points).

‘Payton is a baller – and his teammates know what they are getting every single day in terms of effort, care, and commitment,’ Stevens said. ‘For him to be honored with the award named after the great John Havlicek is a credit to all that he brings to the table for our team.’

The 6-1 guard has turned into a valuable contributor and played a significant role in Boston’s championship last season.

Boston leads the Orlando Magic 1-0 in their first-round playoff series, and Pritchard scored 19 points and was 4-for-6 on 3s in the series opener. Game 2 is Wednesday in Boston (7 p.m. ET, TNT).

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  • Lane Kiffin says getting over Ole Miss’ 2024 season is like navigating stages of grief.
  • Jaxson Dart came over to Lane Kiffin’s house to watch SEC prime-time games after Ole Miss lost to Florida last November. What else was there to do at that point but watch?
  • Ole Miss narrowly missed College Football Playoff. Lane Kiffin says playoff system ‘doesn’t have it right.’ He favors a 16-team bracket with no automatic bids.

Jaxson Dart had one question for coach Lane Kiffin after Mississippi’s gutting loss at Florida last November.

Can I come over?

Sure, Kiffin told his quarterback.

Kiffin and Dart sat on the couch and watched football.

What else could they do?

Hours previously, Mississippi lost in The Swamp, a result that impaired the Rebels’ College Football Playoff hopes. That night, Kiffin and Dart watched more SEC playoff contenders lose. Texas A&M lost in overtime at Auburn, and, stunningly, Alabama got trounced at Oklahoma.

“Him and I are just sitting on the couch, watching the night games, watching other people get upset on the road in the SEC on senior days,” Kiffin told me, “but he just was like, ‘Man, I just feel like I just let down everybody in Oxford, like every person.’”

Kiffin felt similarly. The Ole Miss coach told me a few weeks ago that he’s not fully over last season. He compared the process to navigating the stages of grief – something he experienced after his dad, Monte, died in July.

Ole Miss entered last season oozing hype centered on the possibility of the program’s first College Football Playoff bid. Kiffin had assembled a talented roster, complete with a star quarterback in Dart, and Ole Miss finally had a defense to match its offense.

The Rebels’ playoff aspirations clung by a thread after the Nov. 23 chaos that started with their loss at Florida. Ultimately, the selection committee chose Indiana and SMU instead of a three-loss SEC team like Kiffin’s Rebels or Alabama.

“You may think you’re over it, and you’re over it in certain areas or parts of it,” Kiffin said about last season, “but then there’s a bargaining stage. … I think sometimes I still do that.

 “It was a really good team, it’s just, we played three one-score games and lost them all.”

The Rebels failed to protect fourth-quarter leads in losses Kentucky and LSU. The Wildcats and Tigers each converted key fourth downs during their rallies, and Kentucky scored the winning touchdown after recovering its own fumble.

The margin of being a playoff team versus enduring anguish became that close.

Although Florida delivered the final blow to the Rebels’ résumé, the Kentucky and LSU losses remain bitter pills for Kiffin.

“The first two (losses), I struggle with more, because you’re ahead,” Kiffin said, adding that his team played “flat” against Florida and failed to overcome a first-half injury to star receiver Tre Harris.

Dart is projected to be a first-round selection on Thursday in the 2025 NFL Draft after three seasons starting for Ole Miss. His former backup, Austin Simmons, is in line to become the starter for a Rebels team that figures to be ranked in the preseason Top 25, but must reconfigure after the departure of several prominent players.

Lane Kiffin: Playoff system ‘doesn’t have it right’

Two weeks before losing to Florida, the Rebels smashed Georgia. If the playoff committee had opted for a three-loss team with marquee victories, Ole Miss would have been a prime choice.

Kiffin aired repeated grievances after the committee’s selections of Indiana and SMU, teams with inferior strength of schedule metrics compared to Ole Miss.

The Rebels’ routs of Georgia and South Carolina dwarfed any triumph by Indiana or SMU. However, 11-win Indiana and ACC runner-up SMU avoided unsightly losses akin to Ole Miss’ home loss to Kentucky. Ole Miss was the only Power Four opponent Kentucky beat.

The committee faced a decision of what it valued most: strength of schedule and marquee victories or overall record and avoidance of a bad loss? Kiffin believes the committee showed its hand: Record is “by far the No. 1 part,” he said.

“The system doesn’t have it right,” Kiffin said. “I don’t think anybody, after watching the games, would say those are the best 12 teams in America. In my opinion, that’s what it should be: You should be getting the best teams.”

Penn State crushed SMU, the committee’s last team in, in the first round. Ole Miss routed short-handed Duke in a bowl game to finish 10-3.

Of the SEC’s three CFP qualifiers, only Texas won a playoff game. SEC teams combined for a 2-3 playoff record. The 2024 season won’t be remembered as a banner year for the conference.

I maintain that either Ole Miss or two-loss BYU – the Cougars beat SMU on the road during the regular season – would have been a better playoff choice than the Mustangs, but that the committee chose SMU because it did not want to penalize a team for losing its conference championship game.

Never mind that CFP rules list no specific protections for conference runners-up.

Lane Kiffin reveals preferred College Football Playoff format

The playoff will remain at 12 teams this season. The field could expand as soon as the 2026 season.

Kiffin favors a 16-team bracket with no byes and no automatic bids. Such a field would have included Alabama, Miami, Ole Miss and South Carolina as the extra four qualifiers last season.

“Sixteen teams, you’d get more people excited about it, more people in play,” Kiffin said, “and less (chance) for error by the committee.

“Forget giving (automatic bids). Figure out the best teams. Let an educated committee figure that out with analytics.”

Blake Toppmeyer is the USA TODAY Network’s national college football columnist. Email him at BToppmeyer@gannett.com and follow him on X @btoppmeyer.

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Pro Football Hall of Famer and media personality Shannon Sharpe vehemently denies sexual assault and battery allegations filed in a lawsuit against him, alleging that he’s the victim of a ‘blatant set-up’ and ‘shakedown’ attempt.

Sharpe has been accused of sexual assault and battery, in addition to engaging in the intentional infliction of emotional distress in a lawsuit filed in Clark County, Nevada on Sunday. According to the suit obtained by USA TODAY Sports, the plaintiff, listed under the alias ‘Jane Doe,’ alleged that Sharpe sexually assaulted her twice, once in October 2024 and again in January 2025. They met at a Los Angeles gym in 2023 when she was 19.

One of the attorneys representing ‘Jane Doe’ is Tony Buzbee, whom Sharpe accused of targeting him. Sharpe said he expects Buzbee to release a 30-second clip from a sex tape ‘that tries to make me look guilty.’

‘This is a shakedown. I’m going to be open, transparent and defend myself because this isn’t right,’ Sharpe said in an Instagram video on Tuesday. ‘This is all being orchestrated by Tony Buzbee… I believe he is going to release a 30-second clip of a sex tape that tries to make me look guilty and plays into every stereotype you can possibly imagine.’

In a statement to USA TODAY Sports on Tuesday, Buzbee said, “Mr. Sharpe is unfortunately a liar.

“Sharpe offered Jane Doe $10 million to settle her case that she rejected,” Buzbee said. “She chose to file her case instead. I’m proud to be her lawyer. I didn’t seek her out as a client or target anyone and Sharpe is well aware of that.”

The plaintiff, who is seeking $50 million in damages, said she was in a relationship with Sharpe for nearly two years, and it began as a ‘rocky consensual relationship.’ The woman says Sharpe became violent over the course of the relationship, threatened to kill her during one incident, and recorded their sexual encounters without her consent.

In October 2024, Sharpe violently sexually assaulted the plaintiff on two separate occasions in Las Vegas, ignoring her requests to stop, the lawsuit says.

On Tuesday, Sharpe denied the allegations and said ‘the encounter in question took place during the day at her invitation.’ He alleges that Buzbee and ‘Jane Doe’ are attempting to ‘manipulate the media’ with an edited segment of a sex tape.

‘The video should actually be 10 minutes or so,’ Sharpe said. ‘Hey Tony, instead of releasing your edit, put the whole video out. I don’t have it or I would myself. You know what happened and you are trying to manipulate the media.’

Buzbee was part of the legal team that reached settlements against Cleveland Browns quarterback Deshaun Watson after more than two dozen massage therapists accused him of sexual misconduct. Buzbee also represented an anonymous woman who claimed that rapper Jay-Z and Sean ‘Diddy’ Combs sexually assaulted her as a teenager more than two decades ago in a since-dismissed civil suit.

Sharpe said Buzbee has a history of ‘targeting Black men,’ pointing to Buzbee’s involvement in the civil lawsuit filed against Jay-Z in December. Sharpe added that Buzbee is actively ‘trying to take me down.’

In a statement released Monday, Sharpe’s attorney Lanny J. Davis called the lawsuit ‘a blatant and cynical attempt to shake down Mr. Sharpe for millions of dollars. It is filled with lies, distortions, and misrepresentations – and it will not succeed.’ Davis’ statement included several explicit text messages allegedly sent from Doe to Sharpe in order to ‘set the record straight.’

‘Mr. Sharpe categorically denies all allegations of coercion or misconduct — especially the gross lie of ‘rape’ — and will not submit to what he sees as an egregious attempt at blackmail,’ Davis said in the statement. ‘He stands firmly by the truth and is prepared to fight these false claims vigorously in court. He looks forward to vindication through due process and a judgment based on facts and the law.’

Sharpe, a three-time Super Bowl-winning tight end, has his own successful podcast, ‘Club Shay Shay,’ and makes regular appearances on ESPN’s First Take. It was reported last week that Sharpe is eyeing a new podcast deal in excess of $100 million.

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Ju’Riese Colón has been ousted as the chief executive officer of the U.S. Center for SafeSport, the organization announced in a statement Tuesday night.

Colón’s departure comes as SafeSport faces persistent questions and criticism from members of Congress, including about the center’s hiring of former investigator Jason Krasley, who is now facing sexual assault-related charges stemming from incidents from his time as a police officer in Pennsylvania.

SafeSport, which was created in 2017 and is tasked with investigating allegations of abuse in Olympic and Paralympic sports, said board chair April Holmes will lead the organization on an interim basis as it searches for a new CEO.

‘We are grateful for Ju’Riese’s leadership and service,’ Holmes said in a statement. ‘As we look ahead, we will continue to focus on the Center’s core mission of changing sport culture to keep athletes safe from abuse. The board is committed to Center employees, stakeholders, and most importantly athletes.’

Colón was just the second CEO in SafeSport’s history and had served in the role since 2019.

Congress created SafeSport following high-profile sexual abuse scandals in several sports, including gymnastics and taekwondo. It was intended to be an efficient, fair way to handle abuse complaints at all levels of the Olympic and Paralympic movement, from those involving Olympic-level athletes or coaches to those in youth sports.

In the roughly eight years since, however, the center has faced consistent criticism on a variety of fronts. There have been complaints about the lengthy delays in the resolution of some cases, and jurisdictional issues that routinely leave national governing bodies in the dark. The center has also been criticized for its high rate of administrative closures, which occur when SafeSport either decides there’s insufficient evidence to support an allegation or the victim chooses not to participate in the investigation.

As CEO, Colón often acknowledged SafeSport’s shortcomings and spoke about the various ways the center was working to improve its policies and procedures. But time and again, members of Congress have appeared unconvinced by the center’s claims of progress or have been concerned about its actions in specific cases.

U.S. Senator Chuck Grassley, R-Iowa, was the most recent member of Congress to speak out, requesting additional information from Colón about Krasley, the former SafeSport investigator. Krasley was fired in November after being arrested for allegedly stealing drug money during a police raid in 2019, prior to his time with SafeSport. He has since been charged with multiple felony and misdemeanor charges related to sexual assault.

‘Accusations of rape and other sex crimes against any SafeSport investigator are especially concerning given SafeSport’s mandate to protect athletes from similar abuse,’ Grassley wrote.

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Top 5 Remains Unchanged

The latest sector rotation analysis reveals a market that’s still playing defense. Despite some minor shuffling in the lower ranks, the top five sectors remain unchanged this week—a sign that the current defensive positioning is settling into a more stable pattern.

Consumer staples is holding its ground at the number one spot, followed by utilities, financials, communication services, and health care. This lineup underscores the market’s continued preference for defensive plays.

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

Weekly RRG

The weekly Relative Rotation Graph (RRG) paints a clear picture of the defensive sectors’ strength. Consumer staples and utilities are continuing to move further into the leading quadrant, solidifying their dominant positions. Healthcare, while ranked fifth, is located within the leading quadrant, but has lost some relative momentum over the past two weeks — something to keep an eye on.

Interestingly, financials and communication services, ranked third and fourth respectively, are showing signs of momentum loss, despite maintaining elevated RS ratio levels. Communication services have actually crossed into the weakening quadrant this week. At current RS-Ratio levels, this is not too concerning yet.

Daily RRG: Staples and Utilities Slightly Losing Relative Momentum

Zooming in on the daily RRG provides some nuanced insights. Staples and utilities, while still disconnected from other sectors at high RS ratio levels, have lost some relative momentum in the last week. Utilities have dipped into the weakening quadrant on this timeframe, but, given its high relative strength (RS) ratio, it’s not a major concern, at least not yet.

Financials and health care are also in the weakening quadrant on the daily RRG, but they’re flirting with the 100 level on the RS ratio scale. We haven’t seen a crossover yet, but it’s definitely a situation to be aware of.

One bright spot: communication services, despite being in the lagging quadrant, is showing signs of rolling back up. This aligns with its positive heading on the weekly RRG, suggesting potential improvement ahead.

Consumer Staples (XLP)

XLP is flexing its muscles, pushing against overhead resistance—a show of strength, given the S&P 500’s weakness. A break above the 83 area could unlock more upside potential, further cementing Staples’ defensive appeal. The relative strength line is attempting to break above horizontal resistance, dragging both RRG lines higher and pushing XLP deeper into the leading quadrant.

Utilities (XLU)

Utilities are showing a similar pattern to staples, though not quite as robust. XLU has retreated into its trading range, between roughly 73 and 80, currently sitting in the mid-range. Given the broader market weakness, this is still a positive setup for utilities. The sector is attempting to break above its relative resistance, which is propelling the RRG lines above 100 and deeper into the leading quadrant.

Financials (XLF)

Financials took a hit but found support around 42, bouncing strongly back towards the 47-47.50 resistance area. This sets up a limited upside potential, but the downside seems well-protected for now. The raw relative strength uptrend remains intact, keeping XLF in the leading quadrant, despite some leveling off of the RRG lines.

Communication Services (XLC)

XLC has been the biggest loser among the top sectors, breaking support around 95 and declining rapidly to support near 82.50. We’re currently seeing a bounce off that support. Relative strength is maintaining its rising channel, keeping the RS ratio well above 100. However, the momentum line has dipped below 100, temporarily pushing XLC into the weakening quadrant. The uptrend in relative strength is still in play, though — something to watch closely.

Health Care (XLV)

Healthcare is struggling, grappling with support between $132.50 and $135. A potential head-and-shoulders top formation is developing — a pattern we’re seeing in several sectors, to be honest. XLV is clearly the weakest of the top five, explaining its fifth-place ranking. Relative strength is struggling to maintain its upward trajectory. While both RRG lines remain above 100, we need to see a clear break in relative strength and the formation of an uptrend in order for healthcare to maintain its top-five status.

RRG Portfolio Performance

An update on our RRG portfolio of top five sectors: As of Friday’s close, the portfolio is down 10.2% year-to-date, compared to the S&P 500’s (using SPY as the benchmark) decline of 9.96%. This has resulted in a slight underperformance of 0.2%. However, it’s worth noting that we’re catching up to the benchmark after last week’s more significant underperformance — we’re on the rise again.

#StayAlert –Julius


In this video, as earnings season heats up, Mary Ellen reviews current stock market trends, highlighting top-performing stocks during past bear markets that are showing strength again today. She also shares a proven market timing system that’s signaled every stock market bottom, helping investors stay ahead of major turning points.

This video originally premiered April 18, 2025. You can watch it on our dedicated page for Mary Ellen’s videos.

New videos from Mary Ellen premiere weekly on Fridays. You can view all previously recorded episodes at this link.

If you’re looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.

The market continued to slide lower today as the bear market continues to put downside pressure on stocks in general. Bonds and Yields are at an inflection point as more buyers enter the Bond market which is driving treasury yields higher. What is the long-term outlook for Bonds? Carl gives you his thoughts.

First, Carl covered the market as a whole before discussing his long-term outlook for Bonds and Yields. Not only did he cover the SPY and its indicators, he looked at the rally in Bitcoin and the vertical rally for Gold among others. Crude Oil is pulling back again and the Dollar continues to lose strength.

After covering the market, he discusses his thoughts on Bonds. This was followed by questions.

Erin jumped in to cover sector rotation. There are clear problems and clear strength visible among the sectors, but ultimately all are struggling including defensive sectors Utilities and Real Estate. She zeroed in on the Energy sector and Consumer Staples sector “under the hood”.

Finally the pair finished by taking viewer symbol requests.

01:01 DP Signal Tables

05:03 Market Overview

13:28 Bond Discussion

17:08 Magnificent Seven

22:56 Questions

30:07 Sector Rotation

40:04 Symbol Requests


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