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

Expecting Downside Ahead; Stick With Defensives; Downgrading Taiwan to Market Weight; Risk-Off Signs

Recessionary Signals as SPX Tests Resistance; Downgrading Energy to Underweight

Crude Oil Breaking 1.5-Year Support, Failed Breakouts on $EFA $ACWX; Still Expecting More Downside

Downgrading Japan; Stay Defensive; Downgrading Outlook on Global Equities $ACWI to Neutral

Pullback Underway; Getting Defensive; Long-Term RS Bottoms for Defensives Is a Reason for Caution

MSCI ACWI Consolidation Continues; Outlook Remains Neutral; Buys Across Defensives & Other Sectors

Pullback Continues $ACWI; Stick With Defensives; More Countries With Improving Price and RS Trends

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical Analysis

<ul>
<li>Snap-Back rallies have continued in the largest global equity markets (U.S., Japan, and Europe).</li>
<li>Japan's TOPIX is still below 2690-2700 and the EURO STOXX 50 is below 4884, and whether they roll over here or from marginally higher levels, lower highs remain likely.</li>
<li>It all fits with our ongoing belief (since our July 25, 2024 Int'l Compass) that MSCI ACWI is going through a 1- to 4-month pullback/consolidation (we are one month in).</li>
</ul>


Snap-Back rallies have continued in the largest global equity markets (U.S., Japan, and Europe).
Japan's TOPIX is still below 2690-2700 and the EURO STOXX 50 is below 4884, and whether they roll over here or from marginally higher levels, lower highs remain likely.
It all fits with our ongoing belief (since our July 25, 2024 Int'l Compass) that MSCI ACWI is going through a 1- to 4-month pullback/consolidation (we are one month in).


Telefonaktiebolaget Lm Ericsso (ERICB SS)

iPath Bloomberg Commodity Index Total Return ETN (DJP US)

iPath Bloomberg Commodity Index Total Return ETN

Telefonaktiebolaget LM Ericsso (ERICA SS)

Shift Now to Defensives; Snap-Back Rally Testing Resistance $ACWI $SPX; Neutral Outlook Intact

MSCI ACWI Index

Shift Now to Defensives; Snap-Back Rally Testing Resistance $ACWI $SPX; Neutral Outlook Intact