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

Our outlook remains neutral for global ex-U.S. markets while horizontal consolidation continues on the MSCI ACWI ex-U.S. index.  In today’s report we take a bottoms-up view on developed ex-U.S. equities, highlighting stocks that present attractive buy opportunities within the Services, Consumer Discretionary, Consumer Staples, Energy, and Financials Sectors.

Our outlook remains neutral for global ex-U.S. markets while horizontal consolidation continues on the MSCI ACWI ex-U.S. index.  In today’s report we take a bottoms-up view on developed ex-U.S. equities, highlighting stocks that present attractive buy opportunities within the Services, Consumer Discretionary, Consumer Staples, Energy, and Financials Sectors.

Bottoms-Up View on Developed Markets: Actionable Stocks

Investment Advisors, JL Warren Capital

Junheng Li

Investment Advisors

JL Warren Capital

JL Warren Capital LLC is a leading independent equity research firm focused on Chinese companies and listed multinationals in China. We employ a bottom-up research approach that takes great care to avoid the acquisition of material non-public information. Through investigative due diligence including channel surveys and interviews, our research helps clients to pinpoint the dislocations in the market.

Thematic (Sector/Industry)

In this note, we analyze the latest domestic consumption data including the top 50 retailers, auto sales, and P2P transactions.  Domestic consumption has decelerated meaningfully since Q2.  Rising household debt and the crackdown in shadow banking activities are hurting consumer sentiment in ways that should not be ignored by investors.

In this note, we analyze the latest domestic consumption data including the top 50 retailers, auto sales, and P2P transactions.  Domestic consumption has decelerated meaningfully since Q2.  Rising household debt and the crackdown in shadow banking activities are hurting consumer sentiment in ways that should not be ignored by investors.    

China's Consumer Credit Crunch, Slowing Consumption, & Stock Implications

Index Rebalance and Special Situations, Quiddity Advisors

Afridi Reyal

Index Rebalance and Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The ES50 Index is one of the most highly-tracked European indices. The annual index review takes place in September, with index weights rebalanced every quarter.</li>
<li>In this insight, we take a look at our flows for June 2026 and index change expectations for September 2026.</li>
<li>We see two ADDs and two DELs for September 2026, along with a few large names that could become expected ADDs if they clear the sector requirement threshold.</li>
</ul>


The ES50 Index is one of the most highly-tracked European indices. The annual index review takes place in September, with index weights rebalanced every quarter.
In this insight, we take a look at our flows for June 2026 and index change expectations for September 2026.
We see two ADDs and two DELs for September 2026, along with a few large names that could become expected ADDs if they clear the sector requirement threshold.


Quiddity Leaderboard ES50 Sep26: US$900mn One-Way in Jun26; Nokia + Engie ADD in Sep26

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

<ul><li>Footwear grew by 2% in current value terms to reach SGD855 million in 2017</li><li>Athleisure trend continues to influence sales</li><li>Men’s footwear is the most dynamic category in 2017 with current value growth of 3%</li><li>Nike lead footwear in 2017 with a value share of 10%</li><li>Footwear is expected to increase at a value CAGR of 2% at constant 2017 prices to reach SGD935 million in 2022</li></ul>

Footwear grew by 2% in current value terms to reach SGD855 million in 2017Athleisure trend continues to influence salesMen’s footwear is the most dynamic category in 2017 with current value growth of 3%Nike lead footwear in 2017 with a value share of 10%Footwear is expected to increase at a value CAGR of 2% at constant 2017 prices to reach SGD935 million in 2022

<ul><li>Value sales of menswear rise by 13% to reach INR1.5 trillion in 2017</li><li>Social media increasingly influences men’s dressing trends and styling</li><li>From a small base men's swimwear registers the fastest value growth of 26% in 2017, to reach sales worth INR4.1 billion</li><li>Aditya Birla Fashion &amp; Retail leads menswear with a 3% value share in 2017</li><li>Retail value sales of menswear are expected to rise at a CAGR of 8% at constant 2017 prices over the forecast period to reach INR2.2 trillion in 2022</li></ul>

Value sales of menswear rise by 13% to reach INR1.5 trillion in 2017Social media increasingly influences men’s dressing trends and stylingFrom a small base men's swimwear registers the fastest value growth of 26% in 2017, to reach sales worth INR4.1 billionAditya Birla Fashion &amp; Retail leads menswear with a 3% value share in 2017Retail value sales of menswear are expected to rise at a CAGR of 8% at constant 2017 prices over the forecast period to reach INR2.2 trillion in 2022

Germany

adidas AG manufactures sports shoes and sports equipment. The Company produces products that include footwear, sports apparel, and golf clubs and balls. adidas sells its products worldwide.

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adidas (ADDYY US)

Bottoms-Up View on Developed Markets: Actionable Stocks

Our outlook remains neutral for global ex-U.S. markets while horizontal consolidation continues on the MSCI ACWI ex-U.S. index. In today’s report...

Vermilion Research

China's Consumer Credit Crunch, Slowing Consumption, & Stock Implications

In this note, we analyze the latest domestic consumption data including the top 50 retailers, auto sales, and P2P transactions. Domestic...

JL Warren Capital

Quiddity Leaderboard ES50 Sep26: US$900mn One-Way in Jun26; Nokia + Engie ADD in Sep26

We roughly see US$900mn one way flows based on the capping of ASML June 2026. Nokia and Engie lead the rankings to become ADDs in September 2026.

Afridi Reyal

Sector Capsule: Footwear in Singapore

Footwear grew by 2% in current value terms to reach SGD855 million in 2017 Athleisure trend continues to influence sales Men’s footwear is the...

Euromonitor International Ltd.

Sector Capsule: Menswear in India

Value sales of menswear rise by 13% to reach INR1.5 trillion in 2017 Social media increasingly influences men’s dressing trends and styling From a...

Euromonitor International Ltd.

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