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>The S&amp;P 500 (SPX) is back to test YTD highs and important resistance in the 5670-5783 range. This is an important target/resistance area we have discussed for weeks.</li>
<li>Using the 2007 SPX topping analog suggests a 2% or less move above the prior all-time high set in July at 5670 before topping, which gives the 5783 number.</li>
<li>As long as SPX does not have a weekly close above 5783 we continue to recommend reducing risk and shifting to defensives,and this is the ideal time to do so.</li>
</ul>


The S&amp;P 500 (SPX) is back to test YTD highs and important resistance in the 5670-5783 range. This is an important target/resistance area we have discussed for weeks.
Using the 2007 SPX topping analog suggests a 2% or less move above the prior all-time high set in July at 5670 before topping, which gives the 5783 number.
As long as SPX does not have a weekly close above 5783 we continue to recommend reducing risk and shifting to defensives,and this is the ideal time to do so.


SPX Testing Resistance as Rate Cut Cycle Begins; SPX 5670-5783 Is Resistance, 2007 Analog on Track

NASDAQ Composite Index / Technical Analysis

<ul>
<li>Following last week's pullback, a consistent theme we are seeing is that many broad market indexes and Sector ETFs are holding above (and bouncing at) major base supports.</li>
<li>As long as these base supports continue to hold, it tells us this is likely just a normal pullback within the overall bullish trend.</li>
<li>Important supports that we need to see hold in order to remain bullish include 4600 on the S&amp;P 500 and 14,400 on the Nasdaq Composite.</li>
</ul>


Following last week's pullback, a consistent theme we are seeing is that many broad market indexes and Sector ETFs are holding above (and bouncing at) major base supports.
As long as these base supports continue to hold, it tells us this is likely just a normal pullback within the overall bullish trend.
Important supports that we need to see hold in order to remain bullish include 4600 on the S&amp;P 500 and 14,400 on the Nasdaq Composite.


Major Base Supports Holding; DXY Testing the 2-Month Downtrend; 4600 on SPX Remains Key Support

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Equitable Holdings reported strong financial results for the year 2024, driven by the integrated business model across its Retirement, Asset Management, and Wealth Management segments.</li><li>Full-year non-GAAP operating earnings reached $2 billion, or $5.93 per share, reflecting a 29% increase from the previous year on a per-share basis.</li><li>Adjusted non-GAAP operating EPS was $6.18, which exceeded annual growth expectations of 12% to 15%, showing a 20% growth.</li></ul>

Equitable Holdings reported strong financial results for the year 2024, driven by the integrated business model across its Retirement, Asset Management, and Wealth Management segments.Full-year non-GAAP operating earnings reached $2 billion, or $5.93 per share, reflecting a 29% increase from the previous year on a per-share basis.Adjusted non-GAAP operating EPS was $6.18, which exceeded annual growth expectations of 12% to 15%, showing a 20% growth.

Equitable Holdings Is Looking To Reshape Wealth & Retirement—But Can It Truly Become A Major Financial Powerhouse?

<ul><li>Equitable Holdings' third-quarter results for 2024 reflect a blend of positive growth momentum and calculated financial strategy oversight.</li><li>The company reported non-GAAP operating earnings of $501 million, which equates to $1.53 per share, marking a significant 34% year-over-year increase.</li><li>Adjustments for notable items bring non GAAP operating earnings per share to $1.59, an increase of 22% compared to the previous year.</li></ul>

Equitable Holdings' third-quarter results for 2024 reflect a blend of positive growth momentum and calculated financial strategy oversight.The company reported non-GAAP operating earnings of $501 million, which equates to $1.53 per share, marking a significant 34% year-over-year increase.Adjustments for notable items bring non GAAP operating earnings per share to $1.59, an increase of 22% compared to the previous year.

Equitable Holdings: These Are the 6 Game-Changing Forces Shaping Its Performance in 2025 and Beyond! - Major Drivers

<ul><li>Equitable Holdings' second quarter earnings report for 2024 highlighted the company’s strategic financial performance and growth initiatives.</li><li>Non-GAAP operating earnings reached $494 million, translating to $1.43 per share, a 23% increase year-over-year.</li><li>Adjusted for non-recurring items, the earnings per share stood at $1.52, surpassing the annual growth target.</li></ul>

Equitable Holdings' second quarter earnings report for 2024 highlighted the company’s strategic financial performance and growth initiatives.Non-GAAP operating earnings reached $494 million, translating to $1.43 per share, a 23% increase year-over-year.Adjusted for non-recurring items, the earnings per share stood at $1.52, surpassing the annual growth target.

Equitable Holdings Inc.: Will Its Enhanced Strategic Focus on Wealth Management and Private Markets Pay Off? - Major Drivers

United States

Equitable Holdings, Inc. is an independent U.S.-based financial services company. The Company, through its subsidiaries, provides advice, protection, retirement strategies, and investment-management and research.

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Equitable Holdings (EQH US)

SPX Testing Resistance as Rate Cut Cycle Begins; SPX 5670-5783 Is Resistance, 2007 Analog on Track

$SPX Testing Resistance as Rate Cut Cycle Begins; SPX 5670-5783 is Resistance, 2007 Analog on Track if Below 5783. Still Neutral, prefer to sell...

Vermilion Research

Major Base Supports Holding; DXY Testing the 2-Month Downtrend; 4600 on SPX Remains Key Support

A consistent theme we are seeing is that many broad market indexes and Sector ETFs are holding above (and bouncing at) major base supports...

Vermilion Research

Equitable Holdings Is Looking To Reshape Wealth & Retirement—But Can It Truly Become A Major Financial Powerhouse?

Equitable Holdings reported strong financial results for the year 2024, driven by the integrated business model across its Retirement, Asset...

Baptista Research

Equitable Holdings: These Are the 6 Game-Changing Forces Shaping Its Performance in 2025 and Beyond! - Major Drivers

Equitable Holdings' third-quarter results for 2024 reflect a blend of positive growth momentum and calculated financial strategy oversight. The...

Baptista Research

Equitable Holdings Inc.: Will Its Enhanced Strategic Focus on Wealth Management and Private Markets Pay Off? - Major Drivers

Equitable Holdings' second quarter earnings report for 2024 highlighted the company’s strategic financial performance and growth...

Baptista Research

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