Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

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 Analysis

<ul>
<li>We remain bullish (as of our 4/21/26 Compass) on the S&amp;P 500 (SPX), Nasdaq 100 (QQQ), and Russell 2000 (IWM), and we recently recommended buying the pullback on May 19.</li>
<li>Expect short-term support at 8-day EMAs on SPX and QQQ, has been the case since early-April; if 8-day EMAs break, expect ideal buy opportunities at 20-day MAs on SPX/QQQ</li>
<li>Downgrading Staples and Utilities to Underweight; Upgrading Services to Market Weight. Buys highlighted in Solar Energy, 3D Printing, Lidar Sensors, and AI Manufacturing Solutions</li>
</ul>


We remain bullish (as of our 4/21/26 Compass) on the S&amp;P 500 (SPX), Nasdaq 100 (QQQ), and Russell 2000 (IWM), and we recently recommended buying the pullback on May 19.
Expect short-term support at 8-day EMAs on SPX and QQQ, has been the case since early-April; if 8-day EMAs break, expect ideal buy opportunities at 20-day MAs on SPX/QQQ
Downgrading Staples and Utilities to Underweight; Upgrading Services to Market Weight. Buys highlighted in Solar Energy, 3D Printing, Lidar Sensors, and AI Manufacturing Solutions


Downgrading Staples and Utilities to Underweight; Upgrading Services to Market Weight

Invesco S&P 500 Equal Weight E / Technical Analysis

<ul>
<li>We remain bullish (as of our 4/21/26 Compass) on the S&amp;P 500 (SPX), Nasdaq 100 (QQQ), and Russell 2000 (IWM).</li>
<li>Last week's Compass (May 19) was titled "SPX and QQQ Testing 8-day EMAs; Buy the Pullback," and the market bottomed that day.</li>
<li>We saw significant FUD about rising oil, yields, and the DXY in recent weeks, but we've been discussing weekly since our May 5th Compass how we were not overly concerned</li>
</ul>


We remain bullish (as of our 4/21/26 Compass) on the S&amp;P 500 (SPX), Nasdaq 100 (QQQ), and Russell 2000 (IWM).
Last week's Compass (May 19) was titled "SPX and QQQ Testing 8-day EMAs; Buy the Pullback," and the market bottomed that day.
We saw significant FUD about rising oil, yields, and the DXY in recent weeks, but we've been discussing weekly since our May 5th Compass how we were not overly concerned


RSP, QQEW, Dow Breaking Out; Downgrading Energy to Market Weight. Selling Crude Oil and Gasoline

In last week's Compass we highlighted what we view as compelling signals that risk appetites are improving, which is bullish for the broad market. The trend of improving risk appetites has only continued over the past week and we are moving toward an outright bullish outlook.

In last week's Compass we highlighted what we view as compelling signals that risk appetites are improving, which is bullish for the broad market. The trend of improving risk appetites has only continued over the past week and we are moving toward an outright bullish outlook.

U.S. Equity Strategy: Small-Caps Re-Emerging As Leadership

On cue, outperformance last week and yesterday from cyclicals led the S&amp;P 500 to new all-time highs while defensive Sectors lagged. Additionally, weakness in the US dollar has allowed foreign equities to recover substantially, to the point where the major int’l ETFs (ACWX, EFA, and EEM) are on the cusp of bullish inflections topside downtrends. In today’s report outline our view of the U.S. equity market ad highlight attractive Groups and stocks within Health Care and Technology.

On cue, outperformance last week and yesterday from cyclicals led the S&amp;P 500 to new all-time highs while defensive Sectors lagged. Additionally, weakness in the US dollar has allowed foreign equities to recover substantially, to the point where the major int’l ETFs (ACWX, EFA, and EEM) are on the cusp of bullish inflections topside downtrends. In today’s report outline our view of the U.S. equity market ad highlight attractive Groups and stocks within Health Care and Technology.

U.S. Strategy: Sentiment Improving, Upgrading Manufacturing

In today’s report we take a look at the S&amp;P 500 and long-term breadth. We also provide commentary on the USD, interest rates, growth vs. value, and large- vs. small-caps. We also spotlight attractive Groups and stocks within Technology, Financials, and Utilities.

In today’s report we take a look at the S&amp;P 500 and long-term breadth. We also provide commentary on the USD, interest rates, growth vs. value, and large- vs. small-caps. We also spotlight attractive Groups and stocks within Technology, Financials, and Utilities.

U.S. Equity Strategy: Upgrading Staples, Downgrading Energy

United States

3D Systems Corporation provides comprehensive 3D products and services. The Company develops, manufactures, and markets 3D printers, print materials, software, haptic devices, scanners, and virtual surgical simulators. 3D Systems operates worldwide.

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3D Systems (DDD US)

Downgrading Staples and Utilities to Underweight; Upgrading Services to Market Weight

Downgrading Staples $XLP and Utilities $XLU to Underweight; Upgrading Services to Market Weight; Bullish Outlook Intact. Charts: FSLR, NXT, ENLT,...

Vermilion Research

RSP, QQEW, Dow Breaking Out; Downgrading Energy to Market Weight. Selling Crude Oil and Gasoline

$RSP $QQEW Dow Breaking Out; Downgrading Energy $XLE to Market Weight. Selling Crude Oil $USO and Gasoline $UGA. FUD surrounding oil, yields, and...

Vermilion Research

U.S. Equity Strategy: Small-Caps Re-Emerging As Leadership

We continue to see compelling signals that suggest risk appetites are improving, which is bullish for the broad market. As a result, we are moving...

Vermilion Research

U.S. Strategy: Sentiment Improving, Upgrading Manufacturing

On cue, outperformance last week and yesterday from cyclicals led the S&P 500 to new all-time highs while defensive Sectors lagged....

Vermilion Research

U.S. Equity Strategy: Upgrading Staples, Downgrading Energy

In today’s report we take a look at the S&P 500 and long-term breadth. We also provide commentary on the USD, interest rates, growth vs. value,...

Vermilion Research

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