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>Large-Cap indexes (S&amp;P 500, Nasdaq 100) remain bullish, finding support at their respective 20-day MAs since November 2023, and we remain bullish</li>
<li>The question is whether that will continue to be the case. Concerns are rising Treasury yields and the U.S. dollar (DXY), which have broken above short-term resistance levels on Feb13</li>
<li>Friday's PPI report should provide more clarity as to how concerned we should be about rising inflation</li>
</ul>


Large-Cap indexes (S&amp;P 500, Nasdaq 100) remain bullish, finding support at their respective 20-day MAs since November 2023, and we remain bullish
The question is whether that will continue to be the case. Concerns are rising Treasury yields and the U.S. dollar (DXY), which have broken above short-term resistance levels on Feb13
Friday's PPI report should provide more clarity as to how concerned we should be about rising inflation


S&P 500 and Nasdaq 100 Testing 20-Day MAs; 10-Yr Treasury Yield Testing Critical 4.35% Resistance

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Cross Asset Strategy

<ul>
<li>Happy Monday, and welcome to our weekly positioning update!Markets seem to be back to normal dynamics, with US indices slowly drifting higher with S&amp;P 500 passing the historic 5000 USD level, despite most economic data prints surprising to the upside, almost forcing risk-asset investors to believe that the economy has survived higher interest rates for good.</li>
<li>Although rates traders have made what looks like a u-turn in the # of cuts priced in for 2024, the promise from central bankers that policy rates will come down has been anchored in expectations, and the cocktail of slightly better than expected economic data and the perception that central bankers will cut interest rates (albeit slightly slower) anyway produces a perfect environment for risk assets to perform and drift higher.</li>
<li>With USD liquidity looking to continue its upward trajectory, equities are still a buy given the current narrative – momentum is king.</li>
</ul>


Happy Monday, and welcome to our weekly positioning update!Markets seem to be back to normal dynamics, with US indices slowly drifting higher with S&amp;P 500 passing the historic 5000 USD level, despite most economic data prints surprising to the upside, almost forcing risk-asset investors to believe that the economy has survived higher interest rates for good.
Although rates traders have made what looks like a u-turn in the # of cuts priced in for 2024, the promise from central bankers that policy rates will come down has been anchored in expectations, and the cocktail of slightly better than expected economic data and the perception that central bankers will cut interest rates (albeit slightly slower) anyway produces a perfect environment for risk assets to perform and drift higher.
With USD liquidity looking to continue its upward trajectory, equities are still a buy given the current narrative – momentum is king.


Positioning Watch – Has the Sudden Change in Rates Pricing Changed Positioning?

Podcast by Hedge Fund Manager Erik Townsend, Macro Voices

Macro Voices

Podcast by Hedge Fund Manager Erik Townsend

Weekly market commentary by Hedge Fund Manager Erik Townsend and interviews with the brightest minds in the world of finance and macroeconomics. Made possible by funding from Fourth Turning Capital Management, LLC

<ul>
<li>Patrick Ceresno will be a panelist in a session on the nuclear renaissance.</li>
<li>The S&amp;P 500 March futures were up 298 basis points at the close on February 7.</li>
<li>The US dollar index was up 52 basis points, trading at 104.5.</li>
</ul>
<p><em>This podcast is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.</em></p>


Patrick Ceresno will be a panelist in a session on the nuclear renaissance.
The S&amp;P 500 March futures were up 298 basis points at the close on February 7.
The US dollar index was up 52 basis points, trading at 104.5.

This podcast is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

MacroVoices #414 Louis Vincent Gave: Party Like it’s 1999

Elias Lisberg Glistrup

<ul>
<li>The recent performance of the US economy prompts a reassessment of long-held market sentiments.</li>
<li>As we witness an intersection of sturdy growth, moderating inflation, and evolving liquidity dynamics, investors and policymakers alike stand at a crossroads.</li>
<li>This month’s ‘Macro Regime Indicator’ questions the endurance of the current (US) economic strength and its implications for inflation and asset allocation.</li>
</ul>


The recent performance of the US economy prompts a reassessment of long-held market sentiments.
As we witness an intersection of sturdy growth, moderating inflation, and evolving liquidity dynamics, investors and policymakers alike stand at a crossroads.
This month’s ‘Macro Regime Indicator’ questions the endurance of the current (US) economic strength and its implications for inflation and asset allocation.


Macro Regime Indicator: Time to Embrace a New Economic Dawn?

<ul>
<li>Hello everyone, and welcome back to our weekly positioning overview.</li>
<li>We’ve been working on some new ways to look at positioning data across asset classes, and we’ll share some of the inaugural charts in today’s piece and will extend them, week by week.</li>
<li>Markets have more or less traded sideways since the start of the year, as the risk-on party has taken a bit of a breather it seems, despite rate cut expectations becoming even more embedded after the hawkish US CPI surprise last Thursday – strange move, and we’ll be surprised if probabilities don’t reverse within the next couple of price data points.</li>
</ul>


Hello everyone, and welcome back to our weekly positioning overview.
We’ve been working on some new ways to look at positioning data across asset classes, and we’ll share some of the inaugural charts in today’s piece and will extend them, week by week.
Markets have more or less traded sideways since the start of the year, as the risk-on party has taken a bit of a breather it seems, despite rate cut expectations becoming even more embedded after the hawkish US CPI surprise last Thursday – strange move, and we’ll be surprised if probabilities don’t reverse within the next couple of price data points.


Positioning Watch – Where to Find Value Currently

United States

Consumer Discretionary Select Sector SPDR Fund is an exchange-traded fund incorporated in the USA. The ETF tracks the performance of the Consumer Discretionary Select Sector Index holding primarily large capitalization companies domiciled in the US. The ETF weights its holdings using a modified market cap approach, generally investing at least 95% of its assets in the index

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
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Consumer Discretionary Select (XLY US)

S&P 500 and Nasdaq 100 Testing 20-Day MAs; 10-Yr Treasury Yield Testing Critical 4.35% Resistance

$SPX and Nasdaq 100 $QQQ testing 20-day MAs (support since November); We remain bullish, but can't rule out a pullback to 4800-4850 on SPX; 10-Yr...

Vermilion Research

Positioning Watch – Has the Sudden Change in Rates Pricing Changed Positioning?

Happy Monday, and welcome to our weekly positioning update! Markets seem to be back to normal dynamics, with US indices slowly drifting higher with...

Steno Research

MacroVoices #414 Louis Vincent Gave: Party Like it’s 1999

The online discussion on the nuclear renaissance is scheduled for Sunday, featuring panelists Justin Hewn and Thomas Jam Patterson, and key news to...

Macro Voices

Macro Regime Indicator: Time to Embrace a New Economic Dawn?

The recent performance of the US economy prompts a reassessment of long-held market sentiments. As we witness an intersection of sturdy growth,...

Steno Research

Positioning Watch – Where to Find Value Currently

Markets have more or less traded sideways since the start of the year, as the risk-on party has taken a bit of a breather it seems, despite rate...

Steno Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)