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 and Quantitative Research

Major Risk-On Developments; Bullish Outlook Intact; Downgrading Health Care $XLV to Underweight

New All-Time Highs Validates Our Bullish Outlook; Risk-On Signals Abound. Buys in Aluminum, Shippers

Shifting Exposure From Growth to Value; Downgrading Technology; Upgrades: Manufacturing & Utilities

The Pullback Finally Begins; SPX and NDX Testing 2-Month Supports; Market Dynamics Shifting

Pullback Underway; Further Downside Limited?; Buys in Defensives and Commodity-Related Sectors

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical Analysis

<ul>
<li>While we are not yet out of the woods, we continue to see evidence that suggests the lows may be "in" for this pullback.</li>
<li>Last week (4/23/24 Compass) we discussed the possibility that further downside was limited on the S&amp;P 500 due to a multitude of reasons</li>
<li>We view the latest pullback to 100-day MA on SPX as healthy/normal within the ongoing bull market. Pullbacks to the 100-day provided ideal entry points throughout the 2021 bull market</li>
</ul>


While we are not yet out of the woods, we continue to see evidence that suggests the lows may be "in" for this pullback.
Last week (4/23/24 Compass) we discussed the possibility that further downside was limited on the S&amp;P 500 due to a multitude of reasons
We view the latest pullback to 100-day MA on SPX as healthy/normal within the ongoing bull market. Pullbacks to the 100-day provided ideal entry points throughout the 2021 bull market


Consumer Staples Select Sector SPDR Fund (XLP US)

iPath Bloomberg Commodity Index Total Return ETN (DJP US)

iPath Bloomberg Commodity Index Total Return ETN

Are the Lows "In" For This Pullback?; Market Dynamics Remain Bullish; Key Supports Holding

S&P 500 INDEX

Are the Lows "In" For This Pullback?; Market Dynamics Remain Bullish; Key Supports Holding