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

Russell 2000 (IWM) Testing $170; Downgrading Energy; 10-Yr Treasury Yield Testing 3.4% Support

S&P 500, Nasdaq 100, DJIA All Testing Resistance; Downgrading Financials to Underweight; Buy Staples

Signs Point to More Downside Ahead; Breadth Deteriorating; Buys in Home Furnishings and Shippers

Pullback Begins; How Low Can Indexes Go?; High Yield Spreads & DXY Following Treasury Yields Higher

Treasury Yields Reversing Higher; U.S. Dollar and High Yield Spreads to Follow?

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical Analysis

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<li>SPX is holding above its 200-day MA/3940 coinciding with its prior downtrend from 2022 near 3915; 3915-3940 remains critical support, and is the gateway to a much deeper pullback.</li>
<li>Additionally, the Nasdaq 100 (QQQ) is breaking back above $297, another important line in the sand for us.</li>
<li>The SPX holding at 3915-3940 could be the spark that allows another run toward YTD highs, but we continue to expect 4165-4200 to cap upside on the S&amp;P 500.</li>
</ul>


SPX is holding above its 200-day MA/3940 coinciding with its prior downtrend from 2022 near 3915; 3915-3940 remains critical support, and is the gateway to a much deeper pullback.
Additionally, the Nasdaq 100 (QQQ) is breaking back above $297, another important line in the sand for us.
The SPX holding at 3915-3940 could be the spark that allows another run toward YTD highs, but we continue to expect 4165-4200 to cap upside on the S&amp;P 500.


Universal Insurance Holdings, Inc (UVE US)

Dow Jones Industrial Average (INDU INDEX)

Still Expecting 4165-4200 on S&P 500 to Cap Upside; Buys Within Insurance and Steel/Metals

S&P 500 INDEX

Still Expecting 4165-4200 on S&P 500 to Cap Upside; Buys Within Insurance and Steel/Metals