Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Our outlook remains bullish on global equities (MSCI ACWI) with ACWI-US and the S&amp;P 500 holding above their respective bases at $117 and 5650-5670.</li>
<li>As long as these base supports hold, we would use any election-related pullback as an opportunity to add exposure.</li>
<li>Following the election, we see a high probability of significant upside going into year-end.</li>
</ul>


Our outlook remains bullish on global equities (MSCI ACWI) with ACWI-US and the S&amp;P 500 holding above their respective bases at $117 and 5650-5670.
As long as these base supports hold, we would use any election-related pullback as an opportunity to add exposure.
Following the election, we see a high probability of significant upside going into year-end.


Bullish Outlook Intact on MSCI ACWI & SPX; Buys in Services, Technology, Discretionary, Gold Miners

<ul>
<li>Global equities (MSCI ACWI -- ACWI-US) and the U.S. (S&amp;P 500) remain topside their respective bases at $117 and 5650-5670.</li>
<li>As discussed last week (October 17, 2024 Int'l Compass), we upgraded our outlook on global equities (MSCI ACWI) to bullish, saying to use any pre-election pullback as opportunity to buy.</li>
<li>The pullback appears to be underway, and we are buyers as long as ACWI-US and S&amp;P 500 remain above their aforementioned bases</li>
</ul>


Global equities (MSCI ACWI -- ACWI-US) and the U.S. (S&amp;P 500) remain topside their respective bases at $117 and 5650-5670.
As discussed last week (October 17, 2024 Int'l Compass), we upgraded our outlook on global equities (MSCI ACWI) to bullish, saying to use any pre-election pullback as opportunity to buy.
The pullback appears to be underway, and we are buyers as long as ACWI-US and S&amp;P 500 remain above their aforementioned bases


Buying Global Technology; SPX and MSCI ACWI Above Base Supports; Sea, TSMC, SAP, Luxshare, & More

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>SSE 50 and SSE 180, respectively, aim to represent the performance of the 50 and 180 largest and most liquid A-share stocks listed on the Shanghai Stock Exchange.</li>
<li>In this insight, we take a look at the names leading the race to become ADDs and DELs during the December 2024 index rebal event.</li>
<li>We currently see 5 ADDs/DELs for the SSE 50 index and 18 ADDs/DELs for the SSE 180 index. </li>
</ul>


SSE 50 and SSE 180, respectively, aim to represent the performance of the 50 and 180 largest and most liquid A-share stocks listed on the Shanghai Stock Exchange.
In this insight, we take a look at the names leading the race to become ADDs and DELs during the December 2024 index rebal event.
We currently see 5 ADDs/DELs for the SSE 50 index and 18 ADDs/DELs for the SSE 180 index. 


Quiddity Leaderboard SSE50/180 Dec 24: Some Changes to Expectations; US$1.5bn One-Way for SSE 50

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Equity Bottom-Up

<ul><li>Global semiconductor sales saw a 40% rise in Americas in July, with Acer hitting record highs in India and Indonesia.</li><li>Foxconn is reviewing a European semiconductor plant and investing in technology, as SEMI CEO calls for 10-20 wafer fabs in India.</li><li>Semiconductor giants reveal sustainability plans at Semicon Taiwan 2024, while ASE forms SiPhIA consortium for advancements in silicon photonics. UK auto industry embraces net-zero amid EV revolution, and China's leading AI chip unicorn faces revenue decline despite sector growth.</li></ul>

Global semiconductor sales saw a 40% rise in Americas in July, with Acer hitting record highs in India and Indonesia.Foxconn is reviewing a European semiconductor plant and investing in technology, as SEMI CEO calls for 10-20 wafer fabs in India.Semiconductor giants reveal sustainability plans at Semicon Taiwan 2024, while ASE forms SiPhIA consortium for advancements in silicon photonics. UK auto industry embraces net-zero amid EV revolution, and China's leading AI chip unicorn faces revenue decline despite sector growth.

Tech Supply Chain Tracker (07-Sep-2024): Global semiconductor sales up in July; Americas surge 40%

<ul>
<li>SSE 50 and SSE 180, respectively, aim to represent the performance of the 50 and 180 largest and most liquid A-share stocks listed on the Shanghai Stock Exchange.</li>
<li>In this insight, we take a look at the names leading the race to become ADDs and DELs during the December 2024 index rebal event.</li>
<li>Some of our index change expectations have changed since our <a href="https://www.smartkarma.com/insights/quiddity-leaderboard-sse50-180-dec-24-us-1-6bn-one-way-some-changes-to-expectations" target="_blank" rel="noopener">last insight</a>.</li>
</ul>


SSE 50 and SSE 180, respectively, aim to represent the performance of the 50 and 180 largest and most liquid A-share stocks listed on the Shanghai Stock Exchange.
In this insight, we take a look at the names leading the race to become ADDs and DELs during the December 2024 index rebal event.
Some of our index change expectations have changed since our last insight.


Quiddity Leaderboard SSE50/180 Dec 24: SSE 50 Expected ADDs Vs DELs Trade Looks Interesting

China

Cambricon Technologies Corporation Limited develops and distributes software products. The Company produces terminal intelligent processors, cloud intelligent chips, accelerator cards, intelligent computing cluster systems, and other products. Cambricon Technologies also produces computer peripheral products.

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Cambricon Technologies Lt (688256 CH)

Bullish Outlook Intact on MSCI ACWI & SPX; Buys in Services, Technology, Discretionary, Gold Miners

Bullish Outlook Intact on MSCI $ACWI and $SPX as they hold above their respective bases at $117 and 5650-5670; Buys in Services, Technology,...

Vermilion Research

Buying Global Technology; SPX and MSCI ACWI Above Base Supports; Sea, TSMC, SAP, Luxshare, & More

Buying Global Technology; $SPX and MSCI $ACWI Remain Above Base Supports at 5650-5670 and $117; Buying Taiwan Semiconductor $TSM $SE $SAP $GRAB...

Vermilion Research

Quiddity Leaderboard SSE50/180 Dec 24: Some Changes to Expectations; US$1.5bn One-Way for SSE 50

We estimate one-way flows for SSE 50 and SSE 180 to be US$1.5bn and US$235mn respectively. Some of the names in our expected ADDs/DELs list have...

Janaghan Jeyakumar, CFA

Tech Supply Chain Tracker (07-Sep-2024): Global semiconductor sales up in July; Americas surge 40%

Global semiconductor sales up, Acer hits record highs in India/Indonesia, Foxconn eyeing Europe plant, SEMI CEO pushes for fabs in India, giants...

Tech Supply Chain Tracker

Quiddity Leaderboard SSE50/180 Dec 24: SSE 50 Expected ADDs Vs DELs Trade Looks Interesting

The 5 SSE 50 expected ADDs/DELs could result in US$1.4bn one-way flows and the 18 SSE 180 changes cause US$243mn one-way flows in December 2024.

Janaghan Jeyakumar, CFA

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