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

US Treasury (10 Yr Generic) / Technical Analysis

<ul>
<li>We maintain our near-term bullish outlook on SPX, Nasdaq 100 (QQQ), and Russell 2000 (IWM), which has remained in place since 4/22/25, aside from one week(11/19/25-11/25/25) when we went neutral.</li>
<li>We will stay near-term bullish as long as crucial support levels of 6824 on SPX, $610 on QQQ, and $245 on IWM continue to hold. Intermediate-term, still bullish above 6480-6520</li>
<li>SPX gap down (resistance at 6910-6940, Staples at 4-month RS highs, and more are giving us reason for caution in the near-term, though we still view pullbacks as a buy</li>
</ul>


We maintain our near-term bullish outlook on SPX, Nasdaq 100 (QQQ), and Russell 2000 (IWM), which has remained in place since 4/22/25, aside from one week(11/19/25-11/25/25) when we went neutral.
We will stay near-term bullish as long as crucial support levels of 6824 on SPX, $610 on QQQ, and $245 on IWM continue to hold. Intermediate-term, still bullish above 6480-6520
SPX gap down (resistance at 6910-6940, Staples at 4-month RS highs, and more are giving us reason for caution in the near-term, though we still view pullbacks as a buy


Reason for Near-Term Caution? 10Y Treasury Yield Above 4.20%; Upgrading Energy and Staples

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Commodities

<ul>
<li>A review of recent events and data impacting our investment themes and outlook</li>
<li>Japan and US Central Banks continue to add fuel to the monetary fire</li>
<li>China consumption weakness is likely to spur a tangible response in the New Year</li>
</ul>


A review of recent events and data impacting our investment themes and outlook
Japan and US Central Banks continue to add fuel to the monetary fire
China consumption weakness is likely to spur a tangible response in the New Year


Overview #44 – Not Too Hot, Not Too Cold

<ul>
<li>Volatility finally picked up last Friday, and the SPX and Nasdaq 100 (QQQ) both gapped lower to close below their 20-day MAs for the first time in over three months.</li>
<li>With that said, all of the major indexes (SPX, QQQ, DJI, IWM) rallied yesterday to fill their gaps from Friday and SPX and QQQ have reclaimed above their 20-day MAs. </li>
<li>This is a bullish signal that suggests any further pullback is likely to be relatively shallow, and should be treated as a buying opportunity.</li>
</ul>


Volatility finally picked up last Friday, and the SPX and Nasdaq 100 (QQQ) both gapped lower to close below their 20-day MAs for the first time in over three months.
With that said, all of the major indexes (SPX, QQQ, DJI, IWM) rallied yesterday to fill their gaps from Friday and SPX and QQQ have reclaimed above their 20-day MAs. 
This is a bullish signal that suggests any further pullback is likely to be relatively shallow, and should be treated as a buying opportunity.


Was That It?; Downgrading Discretionary and Energy; Gr/Val Breakout; Market Dynamics Remain Risk-On

Cross-Asset Strategist & Quantitative Analyst, Pennock Idea Hub

Cam Hui

Cross-Asset Strategist & Quantitative Analyst

Pennock Idea Hub

We are creators of independent equity research. The Pennock Idea Hub team are veterans of the investment industry. Much of our team has spent their careers at Merrill Lynch, Deutsche Bank, RBC Capital Markets and Wood Gundy. We have taken every aspect of research back to the studs and returned to first principles. The Pennock Idea Hub marries the interests of the sell and buy side. 

We offer the best research for institutional investors by:

-Only publishing research from veteran analysts
-Eliminate the inherent conflicts of the traditional sell and buy side relationship
-Ensure our team is always accessible; collaboration with clients nurtures our collective success

Cross-Asset & Quantitative Research

Cross Asset Strategy

<ul>
<li>The current market environment is characterized by high market volatility, which has manifested itself as narrative volatility. </li>
<li>We offer four ways to capitalize on the short-term volatility for traders. </li>
<li>The suggested trades are the combination of identifiable underlying trends and technical breaks as signals for short-term profit.</li>
</ul>


The current market environment is characterized by high market volatility, which has manifested itself as narrative volatility. 
We offer four ways to capitalize on the short-term volatility for traders. 
The suggested trades are the combination of identifiable underlying trends and technical breaks as signals for short-term profit.


How to Capitalize on Narrative Volatility

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>Crude prices plunged to multi-year lows amid rising global supply and trade tensions, stoking demand fears and slowing U.S. shale activity.</li>
<li>Oilfield services firms are underperforming peers as falling rig counts and steel tariffs drive up costs and erode margins.</li>
<li>With fixed-cost-heavy models and fewer upstream clients, the sector faces amplified downside risks and limited pricing power in the near term.</li>
</ul>


Crude prices plunged to multi-year lows amid rising global supply and trade tensions, stoking demand fears and slowing U.S. shale activity.
Oilfield services firms are underperforming peers as falling rig counts and steel tariffs drive up costs and erode margins.
With fixed-cost-heavy models and fewer upstream clients, the sector faces amplified downside risks and limited pricing power in the near term.


Oilfield Services Industry to Bear the Brunt of Falling Oil Prices

United States

Energy Select Sector SPDR Fund is an exchange-traded fund incorporated in the USA.  The ETF tracks the performance of the Energy Select Sector Index.  The ETF holds large-cap U.S. energy stocks. It invests in companies that  develop & produce crude oil & natural gas, provide drilling and other energy related services. The holdings are weighted by market capitalization.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
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Energy Select Sector SPDR Fund (XLE US)

Reason for Near-Term Caution? 10Y Treasury Yield Above 4.20%; Upgrading Energy and Staples

Reason for Near-Term Caution? $SPX $QQQ 10-Year Treasury Yield Breaking Above 4.20%; Upgrading Energy $XLE $RSPG and Staples $XLP to market weight,...

Vermilion Research

Overview #44 – Not Too Hot, Not Too Cold

A review of recent events/data impacting our investment themes and outlook. Central Banks continue to aid the commodity trade while China takes aim...

Rikki Malik

Was That It?; Downgrading Discretionary and Energy; Gr/Val Breakout; Market Dynamics Remain Risk-On

Was That It? $SPX $QQQ $IWM; Downgrading Discretionary $XLY to market weight and Energy $XLE to underweight; Growth vs. Value Breaking Out; Market...

Vermilion Research

How to Capitalize on Narrative Volatility

The current market environment is characterized by high market volatility, which has manifested itself as narrative volatility. We offer four ways...

Cam Hui

Oilfield Services Industry to Bear the Brunt of Falling Oil Prices

Crude prices drop due to supply surge and trade tensions, impacting oilfield services firms with rising costs and limited pricing power.

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Reason for Near-Term Caution? 10Y Treasury Yield Above 4.20%; Upgrading Energy and Staples

Reason for Near-Term Caution? $SPX $QQQ 10-Year Treasury Yield Breaking Above 4.20%; Upgrading Energy $XLE $RSPG and Staples $XLP to market weight,...

Vermilion Research

Overview #44 – Not Too Hot, Not Too Cold

A review of recent events/data impacting our investment themes and outlook. Central Banks continue to aid the commodity trade while China takes aim...

Rikki Malik

Was That It?; Downgrading Discretionary and Energy; Gr/Val Breakout; Market Dynamics Remain Risk-On

Was That It? $SPX $QQQ $IWM; Downgrading Discretionary $XLY to market weight and Energy $XLE to underweight; Growth vs. Value Breaking Out; Market...

Vermilion Research

How to Capitalize on Narrative Volatility

The current market environment is characterized by high market volatility, which has manifested itself as narrative volatility. We offer four ways...

Cam Hui

Oilfield Services Industry to Bear the Brunt of Falling Oil Prices

​Crude prices drop due to supply surge and trade tensions, impacting oilfield services firms with rising costs and limited pricing power.

Mint Finance

Crude prices drop due to supply surge and trade tensions, impacting oilfield services firms with rising costs and limited pricing power.