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>50-Day MAs have held on SPX and QQQ, but we're concerned of a prolonged consolidation--primarily for QQQ and likely through mid-to-late-August--following the latest stumble for semiconductors, memory, and optical equipment.</li>
<li>The IWM and equal-weighted S&amp;P 500 (RSP) remain leadership while Technology has continued to consolidate, and support remains at the 20-day MAs on IWM and RSP.</li>
<li>IWM and RSP leadership tells us this remains a healthy and broad-based bull market, and we believe the current "rotation trade" is likely to continue for at least another month.</li>
</ul>


50-Day MAs have held on SPX and QQQ, but we're concerned of a prolonged consolidation--primarily for QQQ and likely through mid-to-late-August--following the latest stumble for semiconductors, memory, and optical equipment.
The IWM and equal-weighted S&amp;P 500 (RSP) remain leadership while Technology has continued to consolidate, and support remains at the 20-day MAs on IWM and RSP.
IWM and RSP leadership tells us this remains a healthy and broad-based bull market, and we believe the current "rotation trade" is likely to continue for at least another month.


Prolonged Consolidation to Continue for QQQ; Semiconductors/Memory Violating 20-Day MA

Nasdaq-100 Stock Index / Technical Analysis

<ul>
<li>We will stay near-term bullish as long as crucial support levels of 6824 on SPX, $610 on QQQ, and $257 on IWM (up from $245) continue to hold.</li>
<li>We continue to see deterioration in market dynamics. While we expect a consolidation/pullback period, the aforementioned support levels would need to break to confirm the pullback has begun.</li>
<li>We will maintain our bullish intermediate-term outlook, and recommend buying pullbacks, as long as market dynamics remain constructive and the SPX is above 6480-6520 and IWM is above $245</li>
</ul>


We will stay near-term bullish as long as crucial support levels of 6824 on SPX, $610 on QQQ, and $257 on IWM (up from $245) continue to hold.
We continue to see deterioration in market dynamics. While we expect a consolidation/pullback period, the aforementioned support levels would need to break to confirm the pullback has begun.
We will maintain our bullish intermediate-term outlook, and recommend buying pullbacks, as long as market dynamics remain constructive and the SPX is above 6480-6520 and IWM is above $245


Monitoring for a Pullback; Still Near-Term Bullish Above 6824 on SPX, $610 on QQQ, and $257 on IWM

<p>The S&amp;P 500 is beginning to come off of short-term overbought extremes, consolidating near the confluence of key overhead resistance and the 200-day moving average. This level is roughly 2,817 on the S&amp;P 500 and roughly 1,000 on the S&amp;P 600 Small Cap index. Some consolidation or a mild pullback is possible in the near-term, which we believe would help alleviate current overbought readings and allow for a more orderly and meaningful move higher.  In today’s report we highlight attractive Groups and stocks within the Consumer Discretionary, Health Care, and Services Sectors.</p>

The S&amp;P 500 is beginning to come off of short-term overbought extremes, consolidating near the confluence of key overhead resistance and the 200-day moving average. This level is roughly 2,817 on the S&amp;P 500 and roughly 1,000 on the S&amp;P 600 Small Cap index. Some consolidation or a mild pullback is possible in the near-term, which we believe would help alleviate current overbought readings and allow for a more orderly and meaningful move higher.  In today’s report we highlight attractive Groups and stocks within the Consumer Discretionary, Health Care, and Services Sectors.

S&P 500 and S&P 600 Testing Resistance...Still

United States

Kforce Inc. is a full-service, professional staffing firm providing flexible and permanent staffing solutions for organizations and career management for individuals.  The Company specializes in the areas of information technology, finance and accounting, human resources, engineering, pharmaceuticals, healthcare, legal, and scientific.  Kforce operates in North America.

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Kforce Inc (KFRC US)

Prolonged Consolidation to Continue for QQQ; Semiconductors/Memory Violating 20-Day MA

Prolonged Consolidation to Continue for $QQQ; Semiconductors/Memory Violating 20-day MA $SMH $SOXX $DRAM $MU $SNDK $WDC $STX. Current "rotation...

Vermilion Research

Monitoring for a Pullback; Still Near-Term Bullish Above 6824 on SPX, $610 on QQQ, and $257 on IWM

Monitoring for a Pullback; Still Near-Term Bullish Above 6824 on $SPX, $610 on $QQQ, and $257 on $IWM. We expect a period of consolidation...

Vermilion Research

S&P 500 and S&P 600 Testing Resistance...Still

The S&P 500 is beginning to come off of short-term overbought extremes, consolidating near the confluence of key overhead resistance and the...

Vermilion Research

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