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

MSCI Emerging Markets Index / Technical Analysis

Big-picture technicals offer a compelling outlook for equities -- in the long-run. Despite arguably stretched trends, especially in the U.S. and EM, one indicator in particular keeps us optimistic: monthly charts.  What is clear right now is: (1) Europe is on the doorstep of breaking above secular resistance; (2) Japan is breaking out above secular resistance; (3) and EM already has. Speaking of EM, we view this as the place to be, or overweight, in 2018. The EM/EAFE’s 20-year chart (below) reveals an in-progress trend reversal (which developed at a secular trendline) in favor of EM.In today’s report we review every global sector, highlighting actionable stocks within each.

Big-picture technicals offer a compelling outlook for equities -- in the long-run. Despite arguably stretched trends, especially in the U.S. and EM, one indicator in particular keeps us optimistic: monthly charts.  What is clear right now is: (1) Europe is on the doorstep of breaking above secular resistance; (2) Japan is breaking out above secular resistance; (3) and EM already has. Speaking of EM, we view this as the place to be, or overweight, in 2018. The EM/EAFE’s 20-year chart (below) reveals an in-progress trend reversal (which developed at a secular trendline) in favor of EM.In today’s report we review every global sector, highlighting actionable stocks within each.

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

This is a new H/A Spread monitor project which attempts to give a brief look at recent changes in H-Share and A-Share spreads based on various influences and sector patterns. 
<h2>H-Share/A-Share Discounts, Changes over 1wk, 4wks and Changes in Southbound Flow</h2>
The first set of tables below show...
<ul>
<li class="">the discount of the major H-share listed companies to their respective A-share,</li>
<li class="">the change in discount over 1-week and 4-weeks (positive number means the H has outperformed the A),</li>
<li class="">a measure of decile…</li>
</ul>

This is a new H/A Spread monitor project which attempts to give a brief look at recent changes in H-Share and A-Share spreads based on various influences and sector patterns. 
H-Share/A-Share Discounts, Changes over 1wk, 4wks and Changes in Southbound Flow
The first set of tables below show...

the discount of the major H-share listed companies to their respective A-share,
the change in discount over 1-week and 4-weeks (positive number means the H has outperformed the A),
a measure of decile…


Quiddity Weekly H/A: Shares Discounts & Southbound Flows 20180112

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform using the Discovery Tool.  Notable themes include:<ul><li>Add exposure to Energy and Materials. </li><li>Financial stocks are strengthening. </li><li>Avoid Australian banks. </li></ul>See the attached report for a complete list of our recommendations from this list.

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform using the Discovery Tool.  Notable themes include:Add exposure to Energy and Materials. Financial stocks are strengthening. Avoid Australian banks. See the attached report for a complete list of our recommendations from this list.

China, Emerging Markets

Ryan Soh 苏祥发

Thematic (Sector/Industry)

A full translation of an article measuring the progress of deleveraging from a People's Bank of China mouthpiece website at the end of last month yields interesting results for those otherwise used to relying on intermediaries for partial summaries and interpretations.The article summarises the initial results obtained from deleveraging, acknowledges the unbalanced structure of enterprise debt, sees deleveraging as an opportunity for reform of state-owned enterprises, and contemplates the creation of a debt-to-equity swap market by 'qualified implementation agencies'. The full translation is included as an attachment.

A full translation of an article measuring the progress of deleveraging from a People's Bank of China mouthpiece website at the end of last month yields interesting results for those otherwise used to relying on intermediaries for partial summaries and interpretations.The article summarises the initial results obtained from deleveraging, acknowledges the unbalanced structure of enterprise debt, sees deleveraging as an opportunity for reform of state-owned enterprises, and contemplates the creation of a debt-to-equity swap market by 'qualified implementation agencies'. The full translation is included as an attachment.  

Global Head of Research, Smartkarma

Mark Artherton

Global Head of Research

LR Research

Macroeconomics

We can all agree that the banking sector is central to modern economies.  Balance sheets at Financial institutions may not be universally understood but they are open to scrutiny under IFRS or local GAAP.  There are some significant changes coming to IFRS for banks as the  International Accounting Standards Board moves ahead with its (misguided?) attempt to apply a market value to all assets.  IFRS9 is another step in this direction for financial institutions ( covered by <a href="https://www.smartkarma.com/profiles/12" target="_blank" data-smartkarma-citation="accounts:12">Daniel Tabbush</a> here…

We can all agree that the banking sector is central to modern economies.  Balance sheets at Financial institutions may not be universally understood but they are open to scrutiny under IFRS or local GAAP.  There are some significant changes coming to IFRS for banks as the  International Accounting Standards Board moves ahead with its (misguided?) attempt to apply a market value to all assets.  IFRS9 is another step in this direction for financial institutions ( covered by Daniel Tabbush here…

Off-Balance Sheet: China and Beyond - When to Worry

China

Industrial and Commercial Bank of China Limited provides banking services. The Company offers deposits, loans, fund underwriting, foreign currency settlement, and other services. Industrial and Commercial Bank of China provides its services to individuals, enterprises, and other clients.

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ICBC (H) (1398 HK)

Global Equity Strategy: Overweight EM

Big-picture technicals offer a compelling outlook for equities -- in the long-run. Despite arguably stretched trends, especially in the U.S. and...

Vermilion Research

Quiddity Weekly H/A: Shares Discounts & Southbound Flows 20180112

This is a new H/A Spread monitor project which attempts to give a brief look at recent changes in H-Share and A-Share spreads based on various...

Travis Lundy

Popular Stocks, Attractive Charts

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform...

Vermilion Research

Deleveraging in China: A Translation

A full translation of an article measuring the progress of deleveraging from a People's Bank of China mouthpiece website at the end of last month...

Ryan Soh 苏祥发

Off-Balance Sheet: China and Beyond - When to Worry

We can all agree that the banking sector is central to modern economies. Balance sheets at Financial institutions may not be universally...

Mark Artherton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)