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>Considering constructive market dynamics and the recent $SPX breakout above 5783 following several months of consolidation, we upgraded our outlook to bullish as of our 10/15/24 U.S. Macro Vision report</li>
<li>Since late-July, we have been neutral on the SPX, preferring to buy near 5100-5200 support and sell near 5670-5783 resistance until there is a break in either direction.</li>
<li>The verdict of the market is the only one that matters, and the breakout above 5783 is the market's way of saying the path of least resistance is higher.</li>
</ul>


Considering constructive market dynamics and the recent $SPX breakout above 5783 following several months of consolidation, we upgraded our outlook to bullish as of our 10/15/24 U.S. Macro Vision report
Since late-July, we have been neutral on the SPX, preferring to buy near 5100-5200 support and sell near 5670-5783 resistance until there is a break in either direction.
The verdict of the market is the only one that matters, and the breakout above 5783 is the market's way of saying the path of least resistance is higher.


Bullish Outlook Focused on Large- And Mid-Caps; Russell 2000 Below Resistance; Concerns Dwindling

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Equity Bottom-Up

Key points (machine generated)<ul><li>Franco-Nevada Corporation is a gold-focused royalty and streaming company operating in the mining and energy sectors.</li><li>Despite not having any imminent corporate catalysts, it is considered a top-tier investment choice for exposure to precious metals.</li><li>Managed by a world-class operator, the company is expected to outperform other large-cap precious metals stocks and physical gold. Its involvement in the sale of crude oil, natural gas, and natural gas liquids adds to its attractiveness for investors in the current economic climate.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)Franco-Nevada Corporation is a gold-focused royalty and streaming company operating in the mining and energy sectors.Despite not having any imminent corporate catalysts, it is considered a top-tier investment choice for exposure to precious metals.Managed by a world-class operator, the company is expected to outperform other large-cap precious metals stocks and physical gold. Its involvement in the sale of crude oil, natural gas, and natural gas liquids adds to its attractiveness for investors in the current economic climate.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Franco-Nevada Corp (FNV) - Friday, Oct 20, 2023

VanEck Gold Miners ETF/USA / Technical Analysis

<ul>
<li>Since late-January/early-February we've recommended shifting to defensives considering our belief that 4165-4200 will cap upside on the $SPX in 2023, while also conceding that a reach to 4300-4325 is possible.</li>
<li>Considering limited upside in both scenarios, we continue to recommend shifting to defensives and believe that now is the time to be tactically overweight defensives</li>
<li>Defensive Sectors including Health Care (XLV), Utilities (XLU), and Staples (XLP) are hitting 2+ month RS highs, and are staging bullish price and RS reversals, as are gold miners (GDX). </li>
</ul>


Since late-January/early-February we've recommended shifting to defensives considering our belief that 4165-4200 will cap upside on the $SPX in 2023, while also conceding that a reach to 4300-4325 is possible.
Considering limited upside in both scenarios, we continue to recommend shifting to defensives and believe that now is the time to be tactically overweight defensives
Defensive Sectors including Health Care (XLV), Utilities (XLU), and Staples (XLP) are hitting 2+ month RS highs, and are staging bullish price and RS reversals, as are gold miners (GDX). 


Defensive Areas Starting to Lead; 10-Yr Treasury Yield Testing Support at 3.35-3.4%

iShares Global Healthcare ETF / Technical Analysis

<ul>
<li>As recently as last week and throughout February/March we have recommended shifting to defensives due to our belief that $93 will cap upside on the $ACWI in 2023.</li>
<li>MSCI ACWI defensive Sectors including Health Care, Utilities, and Consumer Staples are hitting 2+ month RS highs, and are staging bullish price and RS reversals, as are gold miners (GDX-US).</li>
<li>This confirms our belief that now is the time to be tactically overweight defensives. We highlight buys in Health Care, Gold Miners, and Utilities, with the vast majority from Europe</li>
</ul>


As recently as last week and throughout February/March we have recommended shifting to defensives due to our belief that $93 will cap upside on the $ACWI in 2023.
MSCI ACWI defensive Sectors including Health Care, Utilities, and Consumer Staples are hitting 2+ month RS highs, and are staging bullish price and RS reversals, as are gold miners (GDX-US).
This confirms our belief that now is the time to be tactically overweight defensives. We highlight buys in Health Care, Gold Miners, and Utilities, with the vast majority from Europe


Defensives Worthy of a Tactical Overweight; Buys in Global Health Care, Gold Miners, and Utilities

Research from Atrium Research, Atrium Research Corporation

Atrium Research

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Thematic (Sector/Industry)

<ul><li>The precious metals and mining market significantly outperformed broader indices in the month of March with the GDX rising 15% versus the TSX being down slightly </li><li>Gold rallied heavily following the collapse of several major banks and the U.S. Fed guiding for a pause on rates in the near term</li><li>This month only strengthens our confidence that 2023 will be a standout year for both precious metals and base metals and encourage investors to position themselves accordingly Gold rose 7.2% in the month to $1,969.7/oz, silver rose 14.5% to $24.0/oz, and copper sat flat, down just 1.8% to $4.10/lb.</li></ul>

The precious metals and mining market significantly outperformed broader indices in the month of March with the GDX rising 15% versus the TSX being down slightly Gold rallied heavily following the collapse of several major banks and the U.S. Fed guiding for a pause on rates in the near termThis month only strengthens our confidence that 2023 will be a standout year for both precious metals and base metals and encourage investors to position themselves accordingly Gold rose 7.2% in the month to $1,969.7/oz, silver rose 14.5% to $24.0/oz, and copper sat flat, down just 1.8% to $4.10/lb.

Canada

Franco-Nevada Corporation is a resource royalty and investment company. The Company owns a diversified portfolio of precious and base metal royalties, oil and natural gas royalties and other interests, including assets in production, under development or in the exploration phase mostly located in geopolitically secure countries.

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Franco-Nevada (FNV CN)

Bullish Outlook Focused on Large- And Mid-Caps; Russell 2000 Below Resistance; Concerns Dwindling

Bullish Outlook Focused on Large- and Mid-Caps $SPX $NDX $QQQ $IJH $MDY $IWR as of the Oct 11 close above 5783; Russell 2000 $IWM Still Below...

Vermilion Research

Franco-Nevada Corp (FNV) - Friday, Oct 20, 2023

Key points (machine generated) Franco-Nevada Corporation is a gold-focused royalty and streaming company operating in the mining and energy...

Value Investors Club (VIC)

Defensive Areas Starting to Lead; 10-Yr Treasury Yield Testing Support at 3.35-3.4%

Defensive Sectors including Health Care $XLV, Utilities $RYU $XLU, and Staples $XLP are hitting 2+ month RS highs, and are staging bullish price...

Vermilion Research

Defensives Worthy of a Tactical Overweight; Buys in Global Health Care, Gold Miners, and Utilities

We have recommended shifting to defensives throughout Feb/March due to our belief that $93 will cap upside on $ACWI. We highlight buys within...

Vermilion Research

Mining Monthly: March Edition

he precious metals and mining market significantly outperformed broader indices in the month of March with the GDX rising 15% versus the TSX being...

Atrium Research

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