Managing Director, MTS Research

Peter Beuttell

Managing Director

MTS Research

MTS Research Limited is an independent investment research company specialising in technical analysis. 

MTS Research provides technical analysis services in the form of regular publications and consultancy advice, catering for a number of different investment approaches from absolute or relative returns to long-only and long/short.  The company has a global client base of blue-chip financial institutions ranging in size and stretching from Los Angeles to Tokyo, via New York, London, Frankfurt and Hong Kong.  

MTS was founded in 1989 at the request of Morgan Grenfell Investment Services Limited (MGIS), the ERISA arm of Morgan Grenfell Asset Management (subsequently Deutsche Asset Management), by Peter Beuttell, a Portfolio Manager at MGIS between 1987 and 1989. 

Peter is a qualified Chartered Accountant and self-taught market technician with over 30 years experience.  At MGIS, Peter managed money in European, Australasian and Far East markets for US clients, such as American Airlines and American Petrofina.  He achieved first quartile perfomance on their behalf by blending fundamental and technical analysis in his investment decision-making.  

After an initial focus on the EAFE markets (Europe, Australasia and Far East), the company has recently expanded its coverage to include the Americas, thanks to the recently-completed two-year Knowledge Transfer Partnership with the University of Plymouth.  The resulting software – the Technical Overlay Program (TOP) – allows fund managers to access an immediate Technical view on any market, sector, stock, bond yield, currency or commodity within their selected universe.

MTS Research consists of a team of five based in Penzance and London. 

Technical Analysis

Claiming in advance that you knowwhere a market is going to top is usually a rookie's mistake.  However, there is a very unusual alignment of targets in a tight range, which makes this alert worthwhile.In the last stage of a bull market, an Elliott Wave analyst can apply Fibonacci ratios to the entire structure of the advance to project levels at which a top might occur.  As these levels are hit, other techniques are used to assess whether the bull move could indeed be ending.  In this context, by far the three most important ratios are 0.618, 1.0 and 1.618, and in the S&amp;P's post-2009 structure they all appear together.Watch 2,700-2,720.

Claiming in advance that you knowwhere a market is going to top is usually a rookie's mistake.  However, there is a very unusual alignment of targets in a tight range, which makes this alert worthwhile.In the last stage of a bull market, an Elliott Wave analyst can apply Fibonacci ratios to the entire structure of the advance to project levels at which a top might occur.  As these levels are hit, other techniques are used to assess whether the bull move could indeed be ending.  In this context, by far the three most important ratios are 0.618, 1.0 and 1.618, and in the S&amp;P's post-2009 structure they all appear together.Watch 2,700-2,720.

Economist

Richard Iley

Macroeconomics

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Incoming regional manufacturing surveys confirm that, if coming slightly off the boil, the US's manufacturing boom remains in full-swing with buoyant capex and export growth leaving GDP growth, after back-to-back 3% SAAR prints, on course for a stunning 4% SAAR pace in Q4. 
On deck last night was the Philly Fed manufacturing survey, which alongside the Chicago PMI, is the longest established and, hence, most important of the monthly regional surveys. These surveys are essentially 'nomadic': they…
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Incoming regional manufacturing surveys confirm that, if coming slightly off the boil, the US's manufacturing boom remains in full-swing with buoyant capex and export growth leaving GDP growth, after back-to-back 3% SAAR prints, on course for a stunning 4% SAAR pace in Q4. 
On deck last night was the Philly Fed manufacturing survey, which alongside the Chicago PMI, is the longest established and, hence, most important of the monthly regional surveys. These surveys are essentially 'nomadic': they…


Amareos

Ryan Shea

Thematic (Sector/Industry)

<h2>Introduction</h2>HBO’s successful series Game of Thrones has the phrase “Winter is coming” as its key tag line. It is not meant to reference a seasonal cold spell lasting a few months, but something much more profound and disturbing for the human characters who inhabit this fictional world. Unfortunately, the same phrase has relevance for the real world we presently inhabit.For the overwhelming majority of people, a Third World War is simply unimaginable (try broaching the subject in polite company…

IntroductionHBO’s successful series Game of Thrones has the phrase “Winter is coming” as its key tag line. It is not meant to reference a seasonal cold spell lasting a few months, but something much more profound and disturbing for the human characters who inhabit this fictional world. Unfortunately, the same phrase has relevance for the real world we presently inhabit.For the overwhelming majority of people, a Third World War is simply unimaginable (try broaching the subject in polite company…

The Market Sentimentalist - Winter Is Coming: Economic Pathways To World War III

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Key to understanding the US economy's historically muted growth performance so far this decade and the extent to which monetary policy has, in turn, been unhelpfully over-burdened is a proper appreciation of the sustained headwinds to economic growth from fiscal restraint.
As highlighted in previous pieces ( <a href="https://www.smartkarma.com/insights/us-ain-t-nuthin-but-a-g-thang" target="_blank" data-smartkarma-citation="insights:11913">US: Ain’t Nuthin’ but a ‘G’ Thang</a>, <a href="https://www.smartkarma.com/insights/chart-of-the-day-dammit-janet-i-love-you-part-2" target="_blank" data-smartkarma-citation="insights:15301">Chart of the Day: Dammit Janet! I Love You - Part 2</a>), we would adduce three key statistics: the 5.5% of GDP tightening in the cyclically-adjusted budget…
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Key to understanding the US economy's historically muted growth performance so far this decade and the extent to which monetary policy has, in turn, been unhelpfully over-burdened is a proper appreciation of the sustained headwinds to economic growth from fiscal restraint.
As highlighted in previous pieces ( US: Ain’t Nuthin’ but a ‘G’ Thang, Chart of the Day: Dammit Janet! I Love You - Part 2), we would adduce three key statistics: the 5.5% of GDP tightening in the cyclically-adjusted budget…


Chart of the Day: US Bridges Are Falling Down

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.

In our November Macro Vision report, we provide an appraisal and recommendations for each of our 12 Sectors, with extra attention devoted to opportunities within the following areas: <ul><li>Energy:Market Weight.  Energy has shown a significant improvement over the last several months. A majority of the E&amp;P’s are breaking topside of their respective 200-day moving averages. A number of offshore drillers, which have lagged significantly over the last several years are reversing long-term downtrends and breaking above their respective 200-day moving averages.  </li></ul><ul><li>Financials: Overweight. Financials continue to demonstrate long-term leadership characteristics, with many breaking out to new highs or break above major bases.  </li></ul><ul><li>Technology: Overweight. Technology continues to reign in terms of leadership. The bases in this Sector are enormous, dating back to the 2000 bubble, and we believe that the upside potential after many years of consolidation is significant.  </li></ul><ul><li>Manufacturing: Overweight.  The main stalwart of strength had been within the confines of the aerospace industry, however automobile, truck, and construction equipment have garnered much of the attention over the last few months. We believe this is a positive sign for the economy.</li></ul>

In our November Macro Vision report, we provide an appraisal and recommendations for each of our 12 Sectors, with extra attention devoted to opportunities within the following areas: Energy:Market Weight.  Energy has shown a significant improvement over the last several months. A majority of the E&amp;P’s are breaking topside of their respective 200-day moving averages. A number of offshore drillers, which have lagged significantly over the last several years are reversing long-term downtrends and breaking above their respective 200-day moving averages.  Financials: Overweight. Financials continue to demonstrate long-term leadership characteristics, with many breaking out to new highs or break above major bases.  Technology: Overweight. Technology continues to reign in terms of leadership. The bases in this Sector are enormous, dating back to the 2000 bubble, and we believe that the upside potential after many years of consolidation is significant.  Manufacturing: Overweight.  The main stalwart of strength had been within the confines of the aerospace industry, however automobile, truck, and construction equipment have garnered much of the attention over the last few months. We believe this is a positive sign for the economy.

U.S. Equity Strategy & Individual Sector Commentaries

United States

The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities and serves as the foundation for a wide range of investment products. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.

S&P 500 INDEX (SPX INDEX)

S&P 500: Approaching a MAJOR Target Area

Claiming in advance that you knowwhere a market is going to top is usually a rookie's mistake. However, there is a very unusual alignment of...

Peter Beuttell

Chart of the Day: BOOM! - Part 2

Incoming regional manufacturing surveys confirm that, if coming slightly off the boil, the US's manufacturing boom remains in full-swing...

Richard Iley

The Market Sentimentalist - Winter Is Coming: Economic Pathways To World War III

IntroductionHBO’s successful series Game of Thrones has the phrase “Winter is coming” as its key tag line. It is not meant to reference a seasonal...

Amareos

Chart of the Day: US Bridges Are Falling Down

Key to understanding the US economy's historically muted growth performance so far this decade and the extent to which monetary policy has, in...

Richard Iley

U.S. Equity Strategy & Individual Sector Commentaries

In our November Macro Vision report, we provide an appraisal and recommendations for each of our 12 Sectors, with extra attention devoted...

Vermilion Research