Cross-Asset Strategist & Quantitative Analyst, Pennock Idea Hub

Cam Hui

Cross-Asset Strategist & Quantitative Analyst

Pennock Idea Hub

We are creators of independent equity research. The Pennock Idea Hub team are veterans of the investment industry. Much of our team has spent their careers at Merrill Lynch, Deutsche Bank, RBC Capital Markets and Wood Gundy. We have taken every aspect of research back to the studs and returned to first principles. The Pennock Idea Hub marries the interests of the sell and buy side. 

We offer the best research for institutional investors by:

-Only publishing research from veteran analysts
-Eliminate the inherent conflicts of the traditional sell and buy side relationship
-Ensure our team is always accessible; collaboration with clients nurtures our collective success

Cross-Asset & Quantitative Research

Cross Asset Strategy

<ul>
<li>The market is exhibiting number signs of a sustainable risk-on tone, which should carry the stock market rally into year-end and possibly into January.</li>
<li>Market internals point to the an internal rotation, led by small-caps,  as a source of leadership.</li>
<li>Despite the recent AI-related wipeout of technology names, market internals of tech stocks remains  constructive and could see a recovery in the near  future.</li>
</ul>


The market is exhibiting number signs of a sustainable risk-on tone, which should carry the stock market rally into year-end and possibly into January.
Market internals point to the an internal rotation, led by small-caps,  as a source of leadership.
Despite the recent AI-related wipeout of technology names, market internals of tech stocks remains  constructive and could see a recovery in the near  future.


<ul>
<li>Instead of giving you a fish for the day, we are offering to teach you how to fish.</li>
<li>Our high conviction idea for 2026 and beyond consists of five U.S. equity market timing models with near 100% reliability and differing time horizons.</li>
<li>In addition, investors can consider two timing models with strong success rates, but will need some degree of risk management.</li>
</ul>


Instead of giving you a fish for the day, we are offering to teach you how to fish.
Our high conviction idea for 2026 and beyond consists of five U.S. equity market timing models with near 100% reliability and differing time horizons.
In addition, investors can consider two timing models with strong success rates, but will need some degree of risk management.


2026 High Conviction Idea: Our Most Reliable Timing Models

<ul>
<li>While the charts are signaling bull-bear indecision on the surface, technical signals favour a short-term bullish resolution for a rally into year-end and beyond.</li>
<li>However, the Fed rate decision could be the source of market volatility next week.</li>
<li>This is consistent with the seasonality pattern of a choppy first half of December, followed by a rally into year-end starting in mid-December.</li>
</ul>


While the charts are signaling bull-bear indecision on the surface, technical signals favour a short-term bullish resolution for a rally into year-end and beyond.
However, the Fed rate decision could be the source of market volatility next week.
This is consistent with the seasonality pattern of a choppy first half of December, followed by a rally into year-end starting in mid-December.


<ul>
<li>A Trump-dominated Fed is on the verge of a rate cutting cycle based on a probable Greenspan-style bet on AI-driven productivity.</li>
<li>If AI does significantly boost productivity, the economy could be in for a period of non-inflationary growth and prosperity</li>
<li>The risk is a policy error, rising inflation and a falling USD. Much depends on the usefulness of AI across different applications and industries.</li>
</ul>


A Trump-dominated Fed is on the verge of a rate cutting cycle based on a probable Greenspan-style bet on AI-driven productivity.
If AI does significantly boost productivity, the economy could be in for a period of non-inflationary growth and prosperity
The risk is a policy error, rising inflation and a falling USD. Much depends on the usefulness of AI across different applications and industries.


<ul>
<li>The stock market is at a short-term crossroad. It recently experienced a panic bottom on oversold readings and wash-out sentiment.</li>
<li>We are watching for signs of a bullish follow-through after the expected relief rally.</li>
<li>The bull or bear judgment will depend on the market’s action over the coming days.</li>
</ul>


The stock market is at a short-term crossroad. It recently experienced a panic bottom on oversold readings and wash-out sentiment.
We are watching for signs of a bullish follow-through after the expected relief rally.
The bull or bear judgment will depend on the market’s action over the coming days.


Cam Hui has been professionally involved in the financial markets since 1985 in a variety of roles, both as a quantitative equity portfolio manager and as a sell-side analyst. He graduated with a degree in Computer Science from the University of British Columbia in 1980 and obtained his CFA Charter in 1989.