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

Rex American Resources / Technical Analysis

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).</li>
<li>We will maintain our bullish outlook as long as market dynamics remain healthy and the SPX is above 6028-6059. Short-term supports on SPX include 6400-6410, 6200, 6100-6150, and 6028-6059.</li>
<li>SPX is testing 6400-6410 now, but QQQ and IWM are violating short-term supports at $572 and $226, respectively. This makes us believe we could see some near-term downside; buy pullbacks.</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).
We will maintain our bullish outlook as long as market dynamics remain healthy and the SPX is above 6028-6059. Short-term supports on SPX include 6400-6410, 6200, 6100-6150, and 6028-6059.
SPX is testing 6400-6410 now, but QQQ and IWM are violating short-term supports at $572 and $226, respectively. This makes us believe we could see some near-term downside; buy pullbacks.


Staying Bullish Despite Near-Term Pullback Potential; Buy Pullbacks

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>There are 4 changes for the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX</a>, 6 changes for the S&amp;P Midcap400 Index and 14 changes for the S&amp;P SmallCap600 Index at the March rebalance.</li>
<li>
<a href="https://www.smartkarma.com/entities/doordash-inc" target="_blank" data-smartkarma-citation="entities:28881:1" rel="noopener">DoorDash (DASH US)</a> was newly eligible after meeting the profitability criterion, while <a href="https://www.smartkarma.com/entities/applovin-corp" target="_blank" data-smartkarma-citation="entities:32989:1" rel="noopener">AppLovin (APP US)</a>, <a href="https://www.smartkarma.com/entities/coinbase-global-inc" target="_blank" data-smartkarma-citation="entities:32227:1" rel="noopener">Coinbase Global (COIN US)</a> and <a href="https://www.smartkarma.com/entities/interactive-brokers-group-inc" target="_blank" data-smartkarma-citation="entities:13335:1" rel="noopener">Interactive Brokers Group, Inc (IBKR US)</a> were overlooked again.</li>
<li>There will be more same-way flow for the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a> adds and deletes from the Select Sector index trackers.</li>
</ul>


There are 4 changes for the S&amp;P 500 INDEX, 6 changes for the S&amp;P Midcap400 Index and 14 changes for the S&amp;P SmallCap600 Index at the March rebalance.

DoorDash (DASH US) was newly eligible after meeting the profitability criterion, while AppLovin (APP US), Coinbase Global (COIN US) and Interactive Brokers Group, Inc (IBKR US) were overlooked again.
There will be more same-way flow for the S&amp;P 500 INDEX (SPX INDEX) adds and deletes from the Select Sector index trackers.


S&P500/400/600 Index Rebalance: DASH In as Stability Trumps Volatility

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.</li>
<li>In this insight, we take a look at the upcoming constituent changes in the run up to the March 2025 index rebal event.</li>
<li>In this insight, we take a final look at the potential ADDs and DELs leading the rankings for the upcoming review.</li>
</ul>


The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.
In this insight, we take a look at the upcoming constituent changes in the run up to the March 2025 index rebal event.
In this insight, we take a final look at the potential ADDs and DELs leading the rankings for the upcoming review.


[Quiddity Index Feb25] S&P500/600 Mar25 Rebal: Still the Same Characters

White Brook Capital’s Thoughts and Views, White Brook Capital

White Brook Capital

White Brook Capital’s Thoughts and Views

White Brook Capital LLC is a socially responsible, investment advisory firm founded in 2016, based in Chicago. The Company invests separately managed accounts and manages the White Brook Capital Partners fund for qualified investors

Equity Bottom-Up

<ul><li>2024 was a forgettable year for White Brook Capital’s middle capitalization focused fund.</li><li>Our fortunes have reversed so far in 2025 as several of our portfolio companies have preannounced 4th quarter results and given constructive 2025 guidance.</li><li>We’ve had a good first 3 weeks of 2025 and are looking forward to a much better year.</li></ul>

2024 was a forgettable year for White Brook Capital’s middle capitalization focused fund.Our fortunes have reversed so far in 2025 as several of our portfolio companies have preannounced 4th quarter results and given constructive 2025 guidance.We’ve had a good first 3 weeks of 2025 and are looking forward to a much better year.

Global Commodities, Mint Finance

Srinidhi Raghavendra

Global Commodities

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.

Thematic (Sector/Industry)

<ul>
<li>Inflation Reduction Act is by far the largest legislation to positively influence climate change and emissions control.</li>
<li>IRA is packed with subsidies, and loans totaling up to USD 369 billion over the next ten years on renewables, EVs, hydrogen hubs, carbon capture &amp; storage, among others.</li>
<li>By 2035, IRA will drive reduction of greenhouse gas emissions by up to 48% relative to 2005 emissions levels.</li>
</ul>


Inflation Reduction Act is by far the largest legislation to positively influence climate change and emissions control.
IRA is packed with subsidies, and loans totaling up to USD 369 billion over the next ten years on renewables, EVs, hydrogen hubs, carbon capture &amp; storage, among others.
By 2035, IRA will drive reduction of greenhouse gas emissions by up to 48% relative to 2005 emissions levels.


Many Aren’t Aware of the Inflation Reduction Act; and That’s Good News for Investors

United States

Green Plains Inc. owns and operates ethanol plants located in the Midwest U.S. The Company also markets and distributes fuel grade ethanol, livestock feed and industrial grade corn oil. Green Plains provides grain handling, storage and complementary agronomy services to local grain producers through grain elevators located in Iowa, Missouri, Nebraska and Tennessee.

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Green Plains (GPRE US)

Staying Bullish Despite Near-Term Pullback Potential; Buy Pullbacks

Buying a pullback; SPX testing 6400-6410 now, but QQQ and IWM are violating short-term supports at $572 and $226. This makes us believe we could...

Vermilion Research

S&P500/400/600 Index Rebalance: DASH In as Stability Trumps Volatility

There are many changes for the SnP500/400/600 indices in March. The index committee has overlooked high vol stocks. There will be more same-way...

Brian Freitas

[Quiddity Index Feb25] S&P500/600 Mar25 Rebal: Still the Same Characters

The S&P500 is tough to predict (more often than not) because they pick from two pools, and use discretion. The "usual suspects" from last month are...

Travis Lundy

WBC Partners Position Overview

Our fortunes have reversed so far in 2025 as several of our portfolio companies have preannounced 4th quarter results and given constructive 2025...

White Brook Capital

Many Aren’t Aware of the Inflation Reduction Act; and That’s Good News for Investors

Two in three Americans know little about IRA. The Inflation Reduction Act (“IRA”) took years in the making and will have material implications...

Mint Finance

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