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

In today's report we highlight key levels and several metrics we are watching that will provide us clues as to where the S&amp;P 500 is headed next. We also highlight several attractive stocks from a relative strength perspective across Sectors.

In today's report we highlight key levels and several metrics we are watching that will provide us clues as to where the S&amp;P 500 is headed next. We also highlight several attractive stocks from a relative strength perspective across Sectors.

U.S. Equities: Upside Momentum Lost, But Not Breaking Down

Materials, IPO & Equity Analyst

Venkat Ramana Nandyal

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Commodities

we expand on our previous note <a href="https://www.smartkarma.com/insights/gold-is-it-the-beginning-of-new-golden-era-or-end-of-the-bull-run" target="_blank" data-smartkarma-citation="insights:12832" rel="noopener">Gold: Is It the Beginning of New Golden Era or End of the Bull Run?</a> Our analysis of returns on gold and gold-stock indicates the following:<ul>
<li>Gold stocks and gold commodity had no returns in FY18,</li>
<li>YTD FY19 gold stocks returns were superior compared to gold commodity,</li>
<li>Our portfolio of 11 gold producers returned 55% YTD with a Sharpe ratio of ~2.</li>
<li>Given the volatility in markets, we believe that ‘flight to safety’ will continue in short to mid-term, supporting gold prices.</li>
</ul>

we expand on our previous note Gold: Is It the Beginning of New Golden Era or End of the Bull Run? Our analysis of returns on gold and gold-stock indicates the following:
Gold stocks and gold commodity had no returns in FY18,
YTD FY19 gold stocks returns were superior compared to gold commodity,
Our portfolio of 11 gold producers returned 55% YTD with a Sharpe ratio of ~2.
Given the volatility in markets, we believe that ‘flight to safety’ will continue in short to mid-term, supporting gold prices.


We have noted several times throughout August that key support levels were being tested for global equities, and while there has yet to be a decisive breakdown, as time has passed there has been new negative developments which lead us to be even more cautious. This past Friday’s test of support is no different, and we believe the market is more vulnerable to a breakdown than it has been at any other point this year. In this report we highlight the new concerning developments which lead us to believe the market remains vulnerable to a breakdown. On a more positive note, we also highlight attractive Groups and stocks within homebuilders, storage REITs, and large- and small-cap Western Hemisphere gold miners

We have noted several times throughout August that key support levels were being tested for global equities, and while there has yet to be a decisive breakdown, as time has passed there has been new negative developments which lead us to be even more cautious. This past Friday’s test of support is no different, and we believe the market is more vulnerable to a breakdown than it has been at any other point this year. In this report we highlight the new concerning developments which lead us to believe the market remains vulnerable to a breakdown. On a more positive note, we also highlight attractive Groups and stocks within homebuilders, storage REITs, and large- and small-cap Western Hemisphere gold miners

U.S. Equity Strategy: Caution Remains Warranted

In last week’s Compass we laid the case that markets were at a key inflection point heading into the first Fed rate cut in over a decade. Despite hawkish Fed takeaways, it was the escalation in the U.S.-China trade war that was the bigger story, however both weighed on global equities. Needless to say, everything we highlighted last week as being at a key inflection point failed to resolve in a manner that was bullish for equities. Below we highlight several developments we are watching which will help determine if the current pullback will be similar to what happened in May, or if we should expect a deeper correction. In today’s report we highlight attractive Groups and stocks within Materials: Gold, Western Hemisphere, Large-Cap, Gold, Western Hemisphere, Small-Cap, Gold, South Africa, and Silver, Platinum

In last week’s Compass we laid the case that markets were at a key inflection point heading into the first Fed rate cut in over a decade. Despite hawkish Fed takeaways, it was the escalation in the U.S.-China trade war that was the bigger story, however both weighed on global equities. Needless to say, everything we highlighted last week as being at a key inflection point failed to resolve in a manner that was bullish for equities. Below we highlight several developments we are watching which will help determine if the current pullback will be similar to what happened in May, or if we should expect a deeper correction. In today’s report we highlight attractive Groups and stocks within Materials: Gold, Western Hemisphere, Large-Cap, Gold, Western Hemisphere, Small-Cap, Gold, South Africa, and Silver, Platinum

Markets are showing signs of weakening at logical resistance as we anticipated in last week’s Int’l Compass - we recommend being selective in new purchases. At the same time we are seeing a number of indicators that are giving signals conducive to higher equity prices, meaning global equities may be gearing up for an eventual breakout topside resistance. In this report we highlight some attractive and actionable themes (Miners, consumer staples, and several attractive individual set ups in Thailand) along with indicators that support our overall constructive outlook.

Markets are showing signs of weakening at logical resistance as we anticipated in last week’s Int’l Compass - we recommend being selective in new purchases. At the same time we are seeing a number of indicators that are giving signals conducive to higher equity prices, meaning global equities may be gearing up for an eventual breakout topside resistance. In this report we highlight some attractive and actionable themes (Miners, consumer staples, and several attractive individual set ups in Thailand) along with indicators that support our overall constructive outlook.

U.S.Dollar Weakness A Tailwind For International Markets

Canada

Agnico Eagle Mines Limited is a gold producer with operations primarily in northwestern Quebec, northern Mexico, northern Finland and Nunavut.  The Company also has exploration activities in Canada, Europe, Latin America, and the United States.  Agnico Eagle Mines focuses on the exploration, development, and expansion of its gold properities primarily from underground operations.

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Agnico Eagle Mines (AEM CN)

U.S. Equities: Upside Momentum Lost, But Not Breaking Down

In today's report we highlight key levels and several metrics we are watching that will provide us clues as to where the S&P 500 is headed...

Vermilion Research

Gold: Gold Stocks Making a Comeback?

we expand on our previous note Gold: Is It the Beginning of New Golden Era or End of the Bull Run? Our analysis of returns on gold and gold-stock...

Venkat Ramana Nandyal

U.S. Equity Strategy: Caution Remains Warranted

We have noted several times throughout August that key support levels were being tested for global equities, and while there has yet to be a...

Vermilion Research

Here We Go Again

In last week’s Compass we laid the case that markets were at a key inflection point heading into the first Fed rate cut in over a decade. Despite...

Vermilion Research

U.S.Dollar Weakness A Tailwind For International Markets

Markets are showing signs of weakening at logical resistance as we anticipated in last week’s Int’l Compass - we recommend being selective in new...

Vermilion Research

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