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

Recessionary Signals as SPX Tests Resistance; Downgrading Energy to Underweight

Upgrading Staples, Real Estate, and Health Care to Overweight; List of Concerns Continues to Grow

SPX Testing Resistance as Rate Cut Cycle Begins; SPX 5670-5783 Is Resistance, 2007 Analog on Track

Downgrading Outlook on $SPX; Upgrading Real Estate and Staples. Many Significant Risk-Off Signals

Snap-Back Rally Tests YTD Highs; Apr. 2000, Aug. 2007, Feb. 2022 $SPX Top Comparisons Still in Play

Downgrading Discretionary to UW; 2000, 2007, 2022 SPX Top Similarities Suggest Test of YTD Highs

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical Analysis

<ul>
<li>The SPX is back near YTD highs and testing resistance in the 5670-5783 range, and we view this as an ideal time to reduce risk and shift to defensives.</li>
<li>We continue to believe that the SPX and Nasdaq 100 (QQQ) are going through a 1- to 4-month pullback/consolidation that could end up being a topping pattern.</li>
<li>After laying out expectations in our 8/13/24 Compass report for a bounce and test of YTD highs, we now expect SPX to roll over near current levels </li>
</ul>


The SPX is back near YTD highs and testing resistance in the 5670-5783 range, and we view this as an ideal time to reduce risk and shift to defensives.
We continue to believe that the SPX and Nasdaq 100 (QQQ) are going through a 1- to 4-month pullback/consolidation that could end up being a topping pattern.
After laying out expectations in our 8/13/24 Compass report for a bounce and test of YTD highs, we now expect SPX to roll over near current levels 


Public Service Enterprise Group Inc (PEG US)

Dow Jones Industrial Average (INDU INDEX)

iPath Bloomberg Commodity Index Total Return ETN (DJP US)

iPath Bloomberg Commodity Index Total Return ETN

Upgrading Utilities to Overweight; Expecting $SPX to Roll Over; NVDA and SMH Topping?

NVIDIA Corp

Upgrading Utilities to Overweight; Expecting $SPX to Roll Over; NVDA and SMH Topping?