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

Technical Analysis

<ul>
<li>A review of the structure of the stock market makes us long-term bullish.</li>
<li>Growth stocks, as proxied by the NASDAQ 100, are weakening but a rotating correction is evident as value stocks are taking up the leadership mantle.</li>
<li>That said, the S&amp;P 500 is short-term extended and can pull back at any time, with initial support at about 5000 and strong secondary support at about 4800.</li>
</ul>


A review of the structure of the stock market makes us long-term bullish.
Growth stocks, as proxied by the NASDAQ 100, are weakening but a rotating correction is evident as value stocks are taking up the leadership mantle.
That said, the S&amp;P 500 is short-term extended and can pull back at any time, with initial support at about 5000 and strong secondary support at about 4800.


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.

iShares Russell 1000 Value ETF / Technical Analysis

<ul>
<li>We have warned over the past month that a test of the lows, and possibly a break to new lows, is increasingly likely on the SPX, NDX, and Russell 2000.</li>
<li>We recently hit marginal new lows; while the indexes and our outlook remains neutral to bearish, we believe there is potential for an oversold bounce</li>
<li>Still, we will need to see the NYSE have back-to-back 80%+ upside volume days or one 90%+ upside volume day to have confidence that a major bottom is in place.</li>
</ul>


We have warned over the past month that a test of the lows, and possibly a break to new lows, is increasingly likely on the SPX, NDX, and Russell 2000.
We recently hit marginal new lows; while the indexes and our outlook remains neutral to bearish, we believe there is potential for an oversold bounce
Still, we will need to see the NYSE have back-to-back 80%+ upside volume days or one 90%+ upside volume day to have confidence that a major bottom is in place.


Fed Set to Hike 50 Bps As Indexes Test Support; Energy Stocks to Buy on Pullbacks

Macroeconomic and Investing, The Macro Compass

Alfonso Peccatiello (Alf)

Macroeconomic and Investing

The Macro Compass

Actionable investment ideas and unique global macro insights. From the desk of a former Head of $20 bn Investment Portfolio straight to your inbox.

Actionable Investment Ideas

Cross Asset Strategy

<ul><li>Markets have moved sharply year-to-date, and in one clear direction: short Cathie Wood and Bitcoin, long cyclicals (banks &amp; oil)</li><li>There are good macro reasons for the downside move in high-beta, high-multiples but much less so for the long cyclical move to continue its upside move</li><li>My credit impulse metric suggests earnings and inflation are going to disappoint consensus</li></ul>

Markets have moved sharply year-to-date, and in one clear direction: short Cathie Wood and Bitcoin, long cyclicals (banks &amp; oil)There are good macro reasons for the downside move in high-beta, high-multiples but much less so for the long cyclical move to continue its upside moveMy credit impulse metric suggests earnings and inflation are going to disappoint consensus

<ul>
<li>Value isn't following the script of the NASDAQ Bubble Crash, when they recovered strongly relative to growth.</li>
<li>Large-Cap factor calculations were distorted by the strong performance of heavyweight Tesla, whose share price has risen strongly to affect factor returns,</li>
<li>A growing belief in stagflation characterized by slowing growth and rising inflation has boosted growth stocks at the expense of the value style.</li>
</ul>


Value isn't following the script of the NASDAQ Bubble Crash, when they recovered strongly relative to growth.
Large-Cap factor calculations were distorted by the strong performance of heavyweight Tesla, whose share price has risen strongly to affect factor returns,
A growing belief in stagflation characterized by slowing growth and rising inflation has boosted growth stocks at the expense of the value style.


<p>The stock market is following the script for a melt-up into year-end. However, market leadership may be changing as selected speculative issues are leading in a massive way. Investors should be positioned bullishly, but adopt a more balanced approach between value and growth.</p>

The stock market is following the script for a melt-up into year-end. However, market leadership may be changing as selected speculative issues are leading in a massive way. Investors should be positioned bullishly, but adopt a more balanced approach between value and growth.

United States

iShares Russell 1000 Value ETF is an exchange-traded fund incorporated in the USA. The ETF tracks the performance of the Russell 1000 Value Index. The ETF holds mid and large-cap U.S. stocks. Its investments are in companies that are thought to be undervalued by the market. The ETF weights the holdings using a market capitalization methodology and rebalances annually.

iShares Russell 1000 Value ETF (IWD US)

This Bull Run Is Nowhere Near Finished

A review of the structure of the stock market makes us long-term bullish. Growth stocks are weakening but a rotating correction is evident as value...

Cam Hui

Fed Set to Hike 50 Bps As Indexes Test Support; Energy Stocks to Buy on Pullbacks

We recently hit marginal new lows, something we have warned about over the past month; while the indexes and our outlook remains neutral to...

Vermilion Research

How To Trade This Market Eruption

Markets have moved sharply year-to-date, and in one clear direction: short Cathie Wood and Bitcoin, long cyclicals (banks & oil)

Alfonso Peccatiello (Alf)

What's Wrong With Value Stocks?

Value isn’t following the script of the NASDAQ Bubble Crash, when value stocks initially rocketed upward relative to growth. History doesn’t...

Cam Hui

A Question of Leadership

The U.S. market is following the script for a melt-up into year-end. However, market leadership may be changing as selected speculative issues are...

Cam Hui