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>We continue to view the latest pullback as healthy/normal within the ongoing bull market, and it is quite possible that the lows have been established on MSCI ACWI (ACWI-US).</li>
<li>Upgrading EM to Market Weight; MSCI Emerging Markets, China (shanghai Composite) and Hong Kong (Hang Seng) Still Bottoming; we discussed buying in our February 23, 2024<em> Int'l Compass</em>
</li>
<li>Commodities all appear to be rolling over near resistance, which is what we discussed to watch for in our April 18, 2024 <em>Int'l Compass. </em>This has bullish implications for ACWI</li>
</ul>


We continue to view the latest pullback as healthy/normal within the ongoing bull market, and it is quite possible that the lows have been established on MSCI ACWI (ACWI-US).
Upgrading EM to Market Weight; MSCI Emerging Markets, China (shanghai Composite) and Hong Kong (Hang Seng) Still Bottoming; we discussed buying in our February 23, 2024 Int'l Compass

Commodities all appear to be rolling over near resistance, which is what we discussed to watch for in our April 18, 2024 Int'l Compass. This has bullish implications for ACWI


Upgrading Emerging Markets to Market Weight; China/Hong Kong Continue to Bottom; Energy Breakdowns

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>Property restrictions removed in major cities, continuing the gradual process from the last 6-8 months</li>
<li>A BIG signal to the market and the public with the relaxation of curbs in Beijing </li>
<li>China's factory output continues expansion and travel data positive for consumption</li>
</ul>


Property restrictions removed in major cities, continuing the gradual process from the last 6-8 months
A BIG signal to the market and the public with the relaxation of curbs in Beijing 
China's factory output continues expansion and travel data positive for consumption


China Ups the Ante with Relaxation of Property Curbs

<ul>
<li>QE or not QE – that is the question for China.</li>
<li>Gold’s rise postponed by margin increases from major trading centres?</li>
<li>US markets looking increasingly risky as utilities rise in absolute and relative terms.</li>
</ul>


QE or not QE – that is the question for China.
Gold’s rise postponed by margin increases from major trading centres?
US markets looking increasingly risky as utilities rise in absolute and relative terms.


Macro Overview #2: A Review of Recent Events Impacting Our Investment Themes.

<ul>
<li>Federal Reserve “shocks’ markets by taking early rate cuts off the table</li>
<li>New tactics in the Russia/Ukraine war do not bode well for lower oil prices</li>
<li>China releases  Q1 GDP data  which is "stronger" than expected </li>
</ul>


Federal Reserve “shocks’ markets by taking early rate cuts off the table
New tactics in the Russia/Ukraine war do not bode well for lower oil prices
China releases  Q1 GDP data  which is "stronger" than expected 


Macro Overview: A Review of Recent Events Impacting Our Investment Themes

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.

<ul><li>Hi everyone, and welcome back to our weekly positioning / sentiment overview, which will be delivered to you right as firefighters have hopefully put out the fire at the old exchange building in Copenhagen..</li><li>Markets have started the week off where they left last week, with the USD wrecking ball continuing to prevail, posing headwinds for equity and fixed income markets as Fed pricing has more or less turned upside down lately.</li><li>We generally positioned for this repricing of USD fixed income, but were caught wrongfooted in a few trades along the way admittedly.</li></ul>

Hi everyone, and welcome back to our weekly positioning / sentiment overview, which will be delivered to you right as firefighters have hopefully put out the fire at the old exchange building in Copenhagen..Markets have started the week off where they left last week, with the USD wrecking ball continuing to prevail, posing headwinds for equity and fixed income markets as Fed pricing has more or less turned upside down lately.We generally positioned for this repricing of USD fixed income, but were caught wrongfooted in a few trades along the way admittedly.

Positioning Watch – Volatility Is Back, but Markets Still Lean into USD Duration.. God Knows Why..

China

The Shanghai Stock Exchange Composite Index is a capitalization-weighted index. The index tracks the daily price performance of all A-shares and B-shares listed on the Shanghai Stock Exchange. The index was developed on December 19, 1990 with a base value of 100. 

Shanghai Stock Exchange Composite Index (SHCOMP INDEX)

Shanghai Stock Exchange Composite Index (SHCOMP INDEX)

Upgrading Emerging Markets to Market Weight; China/Hong Kong Continue to Bottom; Energy Breakdowns

Upgrading Emerging Markets $EEM $VWO to Market Weight; China/Hong Kong Continue to Bottom $FXI $MCHI $KWEB; Lows Likely in on $ACWI; Commodities...

Vermilion Research

China Ups the Ante with Relaxation of Property Curbs

The relaxation of property curbs in Beijing is a massive positive signal to the market and is not to be underestimated. Other data from China...

Rikki Malik

Macro Overview #2: A Review of Recent Events Impacting Our Investment Themes.

Is China going to embark on QE? Exchanges raise margin requirements to slow gold's ascent. US and Japanese stock markets look increasingly at risk

Rikki Malik

Macro Overview: A Review of Recent Events Impacting Our Investment Themes

Weekly Macro Review -Federal Reserve rules out early rate cuts, Russia/Ukraine conflict impacts oil prices, China's Q1 GDP exceeds expectations.

Rikki Malik

Positioning Watch – Volatility Is Back, but Markets Still Lean into USD Duration.. God Knows Why..

Hi everyone, and welcome back to our weekly positioning / sentiment overview, which will be delivered to you right as firefighters have hopefully...

Steno Research

Upgrading Emerging Markets to Market Weight; China/Hong Kong Continue to Bottom; Energy Breakdowns

Upgrading Emerging Markets $EEM $VWO to Market Weight; China/Hong Kong Continue to Bottom $FXI $MCHI $KWEB; Lows Likely in on $ACWI; Commodities...

Vermilion Research

China Ups the Ante with Relaxation of Property Curbs

The relaxation of property curbs in Beijing is a massive positive signal to the market and is not to be underestimated. Other data from China...

Rikki Malik

Macro Overview #2: A Review of Recent Events Impacting Our Investment Themes.

Is China going to embark on QE? Exchanges raise margin requirements to slow gold's ascent. US and Japanese stock markets look increasingly at risk

Rikki Malik

Macro Overview: A Review of Recent Events Impacting Our Investment Themes

Weekly Macro Review -​Federal Reserve rules out early rate cuts, Russia/Ukraine conflict impacts oil prices, China's Q1 GDP exceeds expectations.

Rikki Malik

Positioning Watch – Volatility Is Back, but Markets Still Lean into USD Duration.. God Knows Why..

Hi everyone, and welcome back to our weekly positioning / sentiment overview, which will be delivered to you right as firefighters have hopefully...

Steno Research

Weekly Macro Review -Federal Reserve rules out early rate cuts, Russia/Ukraine conflict impacts oil prices, China's Q1 GDP exceeds expectations.