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

iShares Russell 2000 ETF / Technical Analysis

<ul>
<li>We believe there is significant evidence that the broad equity market has bottomed, and a year-end rally has begun. This report elaborates on this main point</li>
<li>Last week (10/31/23) we discussed how the $SPX and $QQQ did not display decisive breakdowns, and that a break above 4165-4200 and $350-$355, respectively, would be bullish, that's what happened</li>
<li>Additionally, we discussed how risk/reward favored buyers with the $IWM testing 1.5-year support at $162-$163, a logical spot for small-caps to bounce, especially when we considering persistent bullish breadth divergences.</li>
</ul>


We believe there is significant evidence that the broad equity market has bottomed, and a year-end rally has begun. This report elaborates on this main point
Last week (10/31/23) we discussed how the $SPX and $QQQ did not display decisive breakdowns, and that a break above 4165-4200 and $350-$355, respectively, would be bullish, that's what happened
Additionally, we discussed how risk/reward favored buyers with the $IWM testing 1.5-year support at $162-$163, a logical spot for small-caps to bounce, especially when we considering persistent bullish breadth divergences.


Just Another Counter-Trend Rally, or Something More? DXY and Treasury Yields Breaking Key Supports

<ul>
<li>The SPX, $IWM, $QQQ continue to have trouble breaking above their 200-day MAs and YTD downtrends, while the DJIA has been unable to sustain a breakout above 34,280.</li>
<li>With that said, all four of these indexes are consolidating within tight ranges just below the aforementioned resistance levels, building energy for the eventual breakdown or breakout.</li>
<li>We still recommend shifting exposure to defensives (Staples,Utilities,Health Care) and/or taking profits following this rally, but we cannot rule out potential for major upside breakouts. We discuss specific levels below.</li>
</ul>


The SPX, $IWM, $QQQ continue to have trouble breaking above their 200-day MAs and YTD downtrends, while the DJIA has been unable to sustain a breakout above 34,280.
With that said, all four of these indexes are consolidating within tight ranges just below the aforementioned resistance levels, building energy for the eventual breakdown or breakout.
We still recommend shifting exposure to defensives (Staples,Utilities,Health Care) and/or taking profits following this rally, but we cannot rule out potential for major upside breakouts. We discuss specific levels below.


Today's Fed Day to Determine Next Big Market Move? SPX Key Levels: 4100 and 3910

United States

Enstar Group Ltd. acquires and manages insurance and reinsurance companies in run-off. The Company also provides management, consulting and other services to the global insurance and reinsurance industry.

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Enstar (ESGR US)

Just Another Counter-Trend Rally, or Something More? DXY and Treasury Yields Breaking Key Supports

Just Another Counter-Trend Rally, or Something More?; $DXY and Treasury Yields $TNX $TYX Breaking Key Supports, several other reasons why we...

Vermilion Research

Today's Fed Day to Determine Next Big Market Move? SPX Key Levels: 4100 and 3910

4100 is clear resistance to watch on the $SPX, while support continues to be at 3910; this has been the range for a month. We lean breakdown below...

Vermilion Research

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