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

EURO STOXX 50 Price EUR / Technical Analysis

<ul>
<li>It appears the recent pullback is over, and we could see the MSCI ACWI (ACWI-US) test YTD highs at $93. We still expect $93 to cap upside in 2023.</li>
<li>Overweight Europe/UK and non-U.S., we are buyers on pullbacks as long as FTSE 100 is above 7700, STOXX Europe 50 is above 3800, and EURO STOXX 50 is above 4000.</li>
<li>As long as these support levels are holding, we are constructive from a price perspective</li>
</ul>


It appears the recent pullback is over, and we could see the MSCI ACWI (ACWI-US) test YTD highs at $93. We still expect $93 to cap upside in 2023.
Overweight Europe/UK and non-U.S., we are buyers on pullbacks as long as FTSE 100 is above 7700, STOXX Europe 50 is above 3800, and EURO STOXX 50 is above 4000.
As long as these support levels are holding, we are constructive from a price perspective


Remain Overweight Europe/UK & Non-US Equities; Pullback Over?; Buys in Industrials and Financials

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>In this insight, we take a look at the names leading the race to become ADDs/DELETEs for the DAX, MDAX, and SDAX Indices.</li>
<li>
<a href="https://www.smartkarma.com/entities/vantage-towers-ag" target="_blank" data-smartkarma-citation="entities:35602:1" rel="noopener">Vantage Towers (VTWR GR)</a> is currently undergoing a Tender Offer and this <em>could</em> have interesting index consequences over the next few weeks.</li>
<li>As it stands, there seems to be one change between MDAX and SDAX and there are multiple names hovering close to the border for DAX, MDAX, and SDAX.</li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELETEs for the DAX, MDAX, and SDAX Indices.

Vantage Towers (VTWR GR) is currently undergoing a Tender Offer and this could have interesting index consequences over the next few weeks.
As it stands, there seems to be one change between MDAX and SDAX and there are multiple names hovering close to the border for DAX, MDAX, and SDAX.


DAX/​​​​​​MDAX/​​​​​​SDAX Quiddity Leaderboard Mar 23: Vantage Tower and Other Interesting Names

iShares MSCI China ETF / Technical Analysis

<ul>
<li>We remain neutral on global equities (MSCI ACWI), we believe upside remains limited with the MSCI ACWI (ACWI-US), S&amp;P 500, and several European indexes still below major resistance.</li>
<li>We continue to expect rangebound price action in the months ahead on the MSCI ACWI.</li>
<li>And, rangebound price action could very well be the theme for all of 2023 (with resistance at $93 and support at $75-77 on ACWI-US)</li>
</ul>


We remain neutral on global equities (MSCI ACWI), we believe upside remains limited with the MSCI ACWI (ACWI-US), S&amp;P 500, and several European indexes still below major resistance.
We continue to expect rangebound price action in the months ahead on the MSCI ACWI.
And, rangebound price action could very well be the theme for all of 2023 (with resistance at $93 and support at $75-77 on ACWI-US)


Hang Seng and MSCI China Bottoming -- Add; Europe Still Leading; Shift From U.S. To Non-U.S.

<ul>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELETEs for the DAX, MDAX, and SDAX Indices.</li>
<li>Roughly half of the 20-trading day reference period for the December 2022 Rebalance is now complete.</li>
<li>Among the names identified as potential index changes, <a href="https://www.smartkarma.com/entities/washtec-ag" target="_blank" data-smartkarma-citation="entities:36483:1" rel="noopener">Washtec (WSU GR)</a> appears to be a very high impact name with around 50+ days of volume to buy.</li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELETEs for the DAX, MDAX, and SDAX Indices.
Roughly half of the 20-trading day reference period for the December 2022 Rebalance is now complete.
Among the names identified as potential index changes, Washtec (WSU GR) appears to be a very high impact name with around 50+ days of volume to buy.


DAX/​​​​​MDAX/​​​​​SDAX Quiddity Leaderboard Dec 22: Washtec Is a High-Impact Name

iShares MSCI EAFE ETF / Technical Analysis

<ul>
<li>We continue to believe that a bearish intermediate-term outlook is appropriate as long as the YTD downtrends remain intact on MSCI ACWI (ACWI-US), MSCI ACWI ex-US (ACWX-US), and EAFE (EFA-US).</li>
<li>We would turn bullish only on reversals of those downtrends. With that said, a bear market rally has officially begun, something that we have discussed since our Sept.29 Int'l Compass</li>
<li>We expect to see rallies to their respective YTD downtrends (ACWX, EFA, etc.). We highlight buys that are likely to outperform on this bear market rally.</li>
</ul>


We continue to believe that a bearish intermediate-term outlook is appropriate as long as the YTD downtrends remain intact on MSCI ACWI (ACWI-US), MSCI ACWI ex-US (ACWX-US), and EAFE (EFA-US).
We would turn bullish only on reversals of those downtrends. With that said, a bear market rally has officially begun, something that we have discussed since our Sept.29 Int'l Compass
We expect to see rallies to their respective YTD downtrends (ACWX, EFA, etc.). We highlight buys that are likely to outperform on this bear market rally.


Bear Market Rally in Progress as DXY, Global Sovereign 10-Yr Yields Fall; Buy Ideas Within Leaders

Germany

Krones AG designs and manufactures production machinery and packaging robots for breweries, soft drink and water bottlers, chemical manufacturers, and food processors.  The Company produces cleaning, filling, labeling, sorting, and packaging production systems for the handling of plastic and glass containers. Krones operates worldwide.

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Krones AG (KRN GR)

Remain Overweight Europe/UK & Non-US Equities; Pullback Over?; Buys in Industrials and Financials

Remain overweight Europe/UK and non-US equities; we are buyers on pullbacks as long as the FTSE 100 is above 7700, the STOXX Europe 50 is above...

Vermilion Research

DAX/MDAX/SDAX Quiddity Leaderboard Mar 23: Vantage Tower and Other Interesting Names

Commerzbank, Delivery Hero, Sma Solar Technology, Jenoptik, and Deutsche Beteiligungs require single-digit gains against the other names to trigger...

Janaghan Jeyakumar, CFA

Hang Seng and MSCI China Bottoming -- Add; Europe Still Leading; Shift From U.S. To Non-U.S.

We remain neutral on global equities $ACWI and expect rangebound price action in the months (possibly year) ahead. Specific $ACWI trading range we...

Vermilion Research

DAX/MDAX/SDAX Quiddity Leaderboard Dec 22: Washtec Is a High-Impact Name

There could be 50+ days of volume to buy in Washtec which is a potential SDAX ADD in December 2022. Roughly half of the reference period is now...

Janaghan Jeyakumar, CFA

Bear Market Rally in Progress as DXY, Global Sovereign 10-Yr Yields Fall; Buy Ideas Within Leaders

Bear Market Rally in Progress as $DXY, Global Sovereign 10-Year Yields Decline. Italy FTSE MIB with a bullish YTD downtrend reversal, Switzerland...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Remain Overweight Europe/UK & Non-US Equities; Pullback Over?; Buys in Industrials and Financials

Remain overweight Europe/UK and non-US equities; we are buyers on pullbacks as long as the FTSE 100 is above 7700, the STOXX Europe 50 is above...

Vermilion Research

DAX/​​​​​​MDAX/​​​​​​SDAX Quiddity Leaderboard Mar 23: Vantage Tower and Other Interesting Names

Commerzbank, Delivery Hero, Sma Solar Technology, Jenoptik, and Deutsche Beteiligungs require single-digit gains against the other names to trigger...

Janaghan Jeyakumar, CFA

Hang Seng and MSCI China Bottoming -- Add; Europe Still Leading; Shift From U.S. To Non-U.S.

We remain neutral on global equities $ACWI and expect rangebound price action in the months (possibly year) ahead. Specific $ACWI trading range we...

Vermilion Research

DAX/​​​​​MDAX/​​​​​SDAX Quiddity Leaderboard Dec 22: Washtec Is a High-Impact Name

There could be 50+ days of volume to buy in Washtec which is a potential SDAX ADD in December 2022. Roughly half of the reference period is now...

Janaghan Jeyakumar, CFA

Bear Market Rally in Progress as DXY, Global Sovereign 10-Yr Yields Fall; Buy Ideas Within Leaders

Bear Market Rally in Progress as $DXY, Global Sovereign 10-Year Yields Decline. Italy FTSE MIB with a bullish YTD downtrend reversal, Switzerland...

Vermilion Research

DAX/MDAX/SDAX Quiddity Leaderboard Mar 23: Vantage Tower and Other Interesting Names

DAX/MDAX/SDAX Quiddity Leaderboard Dec 22: Washtec Is a High-Impact Name