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

DXY Break Below $101 Suggests Breakouts Likely Coming for Equal-Weight SPX, Dow, and Russell 2000

Expecting Russell 2000 (IWM) Breakout Above $199; Highlighting Buys in Energy

Upgrading Financials to Market Weight; Shift to Value Continues. Buys in Energy, Financials, Mfg.

Consolidation Likely, But Little Reason to Be Bearish; Buys Within Biotech, Latin American Banks

Russell 2000 Breakout Attempt Underway; Small-Cap Breadth Improving; KRE, KBE, XRT Test Key Levels

Dow Testing 1-Year Resistance at 34,280 Ahead of FOMC; Buy Ideas Within Manufacturing/Industrials

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical Analysis

iShares Russell 2000 ETF / Technical Analysis

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<li>We discussed last week how consolidation was likely, so far that has played out with the SPX back testing the 4300-4325 area which we anticipated would cap upside for 2023.</li>
<li>We continue to watch short-term support at 4300, and we cannot be bearish if the S&amp;P 500 is above 4300.</li>
<li>The Russell 2000 (IWM) is back to test support at $180; we would expect to see this hold as support, but a failure to hold would mean a trip to $170<span id="autocomplete"><span id="autocomplete-searchtext"></span></span>
</li>
</ul>


We discussed last week how consolidation was likely, so far that has played out with the SPX back testing the 4300-4325 area which we anticipated would cap upside for 2023.
We continue to watch short-term support at 4300, and we cannot be bearish if the S&amp;P 500 is above 4300.
The Russell 2000 (IWM) is back to test support at $180; we would expect to see this hold as support, but a failure to hold would mean a trip to $170



Russell 2000 (IWM) Testing $180 Support; Breadth Remains Constructive; Construction/Engineering Buys