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 cautious as we continue to expect heightened volatility and a potential retest of the February 2018 lows over the next several weeks. Near-term we are monitoring for S&amp;P 500 support near 2,600 (i.e., the October low) and resistance near 2,817 or the 100- and 50-day moving averages. In today’s report we outline our current concerns along with developments that would cause us to become more constructive on the market. We also highlight attractive set ups within the Financials, Consumer Discretionary, and Health Care Sectors.

Our outlook remains cautious as we continue to expect heightened volatility and a potential retest of the February 2018 lows over the next several weeks. Near-term we are monitoring for S&amp;P 500 support near 2,600 (i.e., the October low) and resistance near 2,817 or the 100- and 50-day moving averages. In today’s report we outline our current concerns along with developments that would cause us to become more constructive on the market. We also highlight attractive set ups within the Financials, Consumer Discretionary, and Health Care Sectors.

U.S. Equity Strategy: Retest of October Lows Underway; Upgrading Financials

Investors continue to prefer the stability of the U.S. relative to emerging markets. The recent declines recorded in emerging markets and their currencies suggest global risk aversion. U.S. equity markets are, by contrast, not showing any significant signs of coming unhinged as a result of this rout in emerging markets.  In this report we examine the factors likely to impact the U.S. equity markets, and explore actionable opportunities within the Technology, Consumer Discretionary, and Health Care Sectors.

Investors continue to prefer the stability of the U.S. relative to emerging markets. The recent declines recorded in emerging markets and their currencies suggest global risk aversion. U.S. equity markets are, by contrast, not showing any significant signs of coming unhinged as a result of this rout in emerging markets.  In this report we examine the factors likely to impact the U.S. equity markets, and explore actionable opportunities within the Technology, Consumer Discretionary, and Health Care Sectors.

U.S. Equity Strategy: Cyclicals Remain Leadership - Staples & Utilities Are Strengthening

Today's key points:<ul>
<li>Property &amp; Casualty Insurance names are staging price and RS reversal and/or breakouts.</li>
<li>Airlines are staging price and SR reversals to the upside and/or are breaking out.</li>
<li>Railroad related names are breaking out.</li>
<li>We have been bearish on the Semiconductor and Suppliers industry since February; however we are seeing some near term reversals at support levels.</li>
</ul>Highlighted charts: SUP, CMG, LOCO, MCS, EXPE, AMZN, WBA, K, NR, NOV, SLCA, BHGE, OIS, HLX, JPM, WFC, KEY, AXP, AFL, TMK, HSIC, ZBH, OMCL, ANTM, LLY, PFE, AGN, B, WM, ESND, ECHO, and SKYW.

Today's key points:
Property &amp; Casualty Insurance names are staging price and RS reversal and/or breakouts.
Airlines are staging price and SR reversals to the upside and/or are breaking out.
Railroad related names are breaking out.
We have been bearish on the Semiconductor and Suppliers industry since February; however we are seeing some near term reversals at support levels.
Highlighted charts: SUP, CMG, LOCO, MCS, EXPE, AMZN, WBA, K, NR, NOV, SLCA, BHGE, OIS, HLX, JPM, WFC, KEY, AXP, AFL, TMK, HSIC, ZBH, OMCL, ANTM, LLY, PFE, AGN, B, WM, ESND, ECHO, and SKYW.

U.S. Vital Signs - Actionable Charts of the Day

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.

Thematic (Sector/Industry)

2016 was another bumpy year for China’s luxury goods market, plagued by the long-term impact of the anti-corruption campaign undertaken by the central government and the economic downturn as well as China’s latest effort to curb wrongdoing in luxury consumption in a crackdown on the grey market.

2016 was another bumpy year for China’s luxury goods market, plagued by the long-term impact of the anti-corruption campaign undertaken by the central government and the economic downturn as well as China’s latest effort to curb wrongdoing in luxury consumption in a crackdown on the grey market.

China's Luxury Market Set for Steady Performance Amid Unfavourable Market Environment

Founder and Strategist, Entext Economics & Strategy

Sean Maher

Founder and Strategist

Entext Economics & Strategy

Entext provides institutional investors with distinctive, actionable asset allocation and thematic research, which typically challenges the market consensus. Our clients range from credit, equity and multi-asset hedge and pension funds to family offices and sovereign funds. 
 
We focus on identifying key inflection points in macro data and relative asset performance amid the 'groupthink'  and confirmation bias that characterizes most investment bank analysis.

Macro Driven Investment Insight

<ul>
<li>The secular overweight since 2012 to semiconductor growth themes including sensor, parallel processing and communication chip stocks has outperformed wider tech indices.</li>
<li>The explosion in video steaming, cloud computing and the shift toward semi-autonomous vehicles as well as the huge computational intensity of AI software are all key drivers through end decade.</li>
<li>Global semiconductor industry sales saw accelerating growth from mid-2016, with Q4 sales of $93bn 12.3% higher y/y - semiconductors are…</li>
</ul>


The secular overweight since 2012 to semiconductor growth themes including sensor, parallel processing and communication chip stocks has outperformed wider tech indices.
The explosion in video steaming, cloud computing and the shift toward semi-autonomous vehicles as well as the huge computational intensity of AI software are all key drivers through end decade.
Global semiconductor industry sales saw accelerating growth from mid-2016, with Q4 sales of $93bn 12.3% higher y/y - semiconductors are…


Structural and Cyclical Drivers Underpin Semiconductor Outperformance

United States

Chipotle Mexican Grill, Inc. owns and operates quick serve Mexican restaurants. The Company manages restaurants throughout the United States.

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Chipotle Mexican Grill (CMG US)

U.S. Equity Strategy: Retest of October Lows Underway; Upgrading Financials

Our outlook remains cautious as we continue to expect heightened volatility and a potential retest of the February 2018 lows over the next several...

Vermilion Research

U.S. Equity Strategy: Cyclicals Remain Leadership - Staples & Utilities Are Strengthening

Investors continue to prefer the stability of the U.S. relative to emerging markets. The recent declines recorded in emerging markets and their...

Vermilion Research

U.S. Vital Signs - Actionable Charts of the Day

Today's key points: Property & Casualty Insurance names are staging price and RS reversal and/or breakouts. Airlines are staging price and SR...

Vermilion Research

China's Luxury Market Set for Steady Performance Amid Unfavourable Market Environment

2016 was another bumpy year for China’s luxury goods market, plagued by the long-term impact of the anti-corruption campaign undertaken by the...

Euromonitor International Ltd.

Structural and Cyclical Drivers Underpin Semiconductor Outperformance

The secular overweight since 2012 to semiconductor growth themes including sensor, parallel processing and communication chip stocks has...

Sean Maher

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52-week Range

Market Cap (USDm)

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