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>Our outlook remains bullish on global equities (MSCI ACWI) with ACWI-US and the S&amp;P 500 holding above their respective bases at $117 and 5650-5670.</li>
<li>As long as these base supports hold, we would use any election-related pullback as an opportunity to add exposure.</li>
<li>Following the election, we see a high probability of significant upside going into year-end.</li>
</ul>


Our outlook remains bullish on global equities (MSCI ACWI) with ACWI-US and the S&amp;P 500 holding above their respective bases at $117 and 5650-5670.
As long as these base supports hold, we would use any election-related pullback as an opportunity to add exposure.
Following the election, we see a high probability of significant upside going into year-end.


Bullish Outlook Intact on MSCI ACWI & SPX; Buys in Services, Technology, Discretionary, Gold Miners

<ul>
<li>Global equities (MSCI ACWI -- ACWI-US) and the U.S. (S&amp;P 500) remain topside their respective bases at $117 and 5650-5670.</li>
<li>As discussed last week (October 17, 2024 Int'l Compass), we upgraded our outlook on global equities (MSCI ACWI) to bullish, saying to use any pre-election pullback as opportunity to buy.</li>
<li>The pullback appears to be underway, and we are buyers as long as ACWI-US and S&amp;P 500 remain above their aforementioned bases</li>
</ul>


Global equities (MSCI ACWI -- ACWI-US) and the U.S. (S&amp;P 500) remain topside their respective bases at $117 and 5650-5670.
As discussed last week (October 17, 2024 Int'l Compass), we upgraded our outlook on global equities (MSCI ACWI) to bullish, saying to use any pre-election pullback as opportunity to buy.
The pullback appears to be underway, and we are buyers as long as ACWI-US and S&amp;P 500 remain above their aforementioned bases


Buying Global Technology; SPX and MSCI ACWI Above Base Supports; Sea, TSMC, SAP, Luxshare, & More

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Strong tech rebound off the morning lows with AI related names starting to pick up favour again helped by good numbers from Oracle.</li>
<li>The hefty price tag for Sony's PS5 Pro is unlikely to appeal to casual gamers, but should still boost sales in the interim as a mid-cycle boost for the PlayStation.</li>
<li>Fujitsu's IR day yesterday sets an upbeat tone, but lacks catalysts which could help push the stock to new highs.</li>
</ul>


Strong tech rebound off the morning lows with AI related names starting to pick up favour again helped by good numbers from Oracle.
The hefty price tag for Sony's PS5 Pro is unlikely to appeal to casual gamers, but should still boost sales in the interim as a mid-cycle boost for the PlayStation.
Fujitsu's IR day yesterday sets an upbeat tone, but lacks catalysts which could help push the stock to new highs.


Japan Morning Connection: Rotation Towards AI May See Japan SPE Gains

US Treasury (10 Yr Generic) / Technical Analysis

<ul>
<li>We continue to see more and more global indexes and Sectors breaking out to new highs. This is classic bull market behavior. The latest breakouts: Israel, Germany, and Sweden</li>
<li>Our bullish outlook (since early November 2023) on global equities (MSCI ACWI) remains intact; continue to ride this trend higher, and treat pullbacks as buying opportunities.</li>
<li>We continue to get more evidence suggesting the US Dollar (DXY) is rolling over, and quite likely that global sovereign 10-year yields are rolling over as well. Risk-on.</li>
</ul>


We continue to see more and more global indexes and Sectors breaking out to new highs. This is classic bull market behavior. The latest breakouts: Israel, Germany, and Sweden
Our bullish outlook (since early November 2023) on global equities (MSCI ACWI) remains intact; continue to ride this trend higher, and treat pullbacks as buying opportunities.
We continue to get more evidence suggesting the US Dollar (DXY) is rolling over, and quite likely that global sovereign 10-year yields are rolling over as well. Risk-on.


Bullish Outlook Intact; DXY Rolling Over; More Global Breakouts. Buys in Discretionary, Tech

Japan Specialist

Mark Chadwick

<ul>
<li>Overseas: SPX +0.1% , Nasdaq +0.1%; Stocks losing steam; WeWork goes bust; Roblox +12%, Upstart -27%, Toast -14%</li>
<li>Today: NKY Futs +0.5% v cash. JPY 151; New Nintendo movie; Mizuho increases stake in Rakuten Secs; Fuji Soft Group Reorganization</li>
<li>JapanX | Canon's Nanoimprint Technology to challenge ASML Dominance and Potentially Disrupt Semiconductor Manufacturing</li>
</ul>


Overseas: SPX +0.1% , Nasdaq +0.1%; Stocks losing steam; WeWork goes bust; Roblox +12%, Upstart -27%, Toast -14%
Today: NKY Futs +0.5% v cash. JPY 151; New Nintendo movie; Mizuho increases stake in Rakuten Secs; Fuji Soft Group Reorganization
JapanX | Canon's Nanoimprint Technology to challenge ASML Dominance and Potentially Disrupt Semiconductor Manufacturing


Ohayo Japan | Stocks Losing Steam; Canon's Nanoimprint to Disrupt Semiconductor Manufacturing

Japan

Canon Inc. is a professional and consumer imaging solutions company and patent-holder of digital imaging technologies. The Company's products include networked multifunction devices, digital and analog copiers, computer peripherals, facsimile machines, image filing systems, camcorders, cameras and lenses, semiconductor, and broadcast and medical equipment.

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Canon Inc (7751 JP)

Bullish Outlook Intact on MSCI ACWI & SPX; Buys in Services, Technology, Discretionary, Gold Miners

Bullish Outlook Intact on MSCI $ACWI and $SPX as they hold above their respective bases at $117 and 5650-5670; Buys in Services, Technology,...

Vermilion Research

Buying Global Technology; SPX and MSCI ACWI Above Base Supports; Sea, TSMC, SAP, Luxshare, & More

Buying Global Technology; $SPX and MSCI $ACWI Remain Above Base Supports at 5650-5670 and $117; Buying Taiwan Semiconductor $TSM $SE $SAP $GRAB...

Vermilion Research

Japan Morning Connection: Rotation Towards AI May See Japan SPE Gains

AI names gaining favor with Oracle's positive numbers. Sony's PS5 Pro may not attract casual gamers but could boost sales as a mid-cycle upgrade....

Andrew Jackson

Bullish Outlook Intact; DXY Rolling Over; More Global Breakouts. Buys in Discretionary, Tech

Bullish Outlook Intact; $DXY Rolling Over, 10-Yr Treasury Yield $TNX Rolling Over; More Global Indexes Breaking Out (Israel, Germany, Sweden). Buys...

Vermilion Research

Ohayo Japan | Stocks Losing Steam; Canon's Nanoimprint to Disrupt Semiconductor Manufacturing

Stocks losing steam as WeWork goes bust; Roblox up 12%, Upstart down 27%, Toast down 14%; Canon's Nanoimprint Technology could disrupt...

Mark Chadwick

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52-week Range

Market Cap (USDm)

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Dividend (Yield)

Bullish Outlook Intact on MSCI ACWI & SPX; Buys in Services, Technology, Discretionary, Gold Miners

Bullish Outlook Intact on MSCI $ACWI and $SPX as they hold above their respective bases at $117 and 5650-5670; Buys in Services, Technology,...

Vermilion Research

Buying Global Technology; SPX and MSCI ACWI Above Base Supports; Sea, TSMC, SAP, Luxshare, & More

Buying Global Technology; $SPX and MSCI $ACWI Remain Above Base Supports at 5650-5670 and $117; Buying Taiwan Semiconductor $TSM $SE $SAP $GRAB...

Vermilion Research

Japan Morning Connection: Rotation Towards AI May See Japan SPE Gains

AI names gaining favor with Oracle's positive numbers. Sony's PS5 Pro may not attract casual gamers but could boost sales as a mid-cycle upgrade....

Andrew Jackson

Bullish Outlook Intact; DXY Rolling Over; More Global Breakouts. Buys in Discretionary, Tech

Bullish Outlook Intact; $DXY Rolling Over, 10-Yr Treasury Yield $TNX Rolling Over; More Global Indexes Breaking Out (Israel, Germany, Sweden). Buys...

Vermilion Research

Ohayo Japan | Stocks Losing Steam; Canon's Nanoimprint to Disrupt Semiconductor Manufacturing

​Stocks losing steam as WeWork goes bust; Roblox up 12%, Upstart down 27%, Toast down 14%; Canon's Nanoimprint Technology could disrupt...

Mark Chadwick

Stocks losing steam as WeWork goes bust; Roblox up 12%, Upstart down 27%, Toast down 14%; Canon's Nanoimprint Technology could disrupt...