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 SPX is at 4165-4200 support, and the Nasdaq 100 (QQQ) is at $350-$355 support. No "decisive" breakdowns quite yet as supports show signs of holding.</li>
<li>Russell 2000 (IWM) is testing 1.5-year support at $162-$163, making this a logical spot for small-caps to bounce and an attractive risk/reward for buyers</li>
<li>Continue to see signs of breadth possibly bottoming-out. Both the SPX and Russell 2000 and the % of stocks above their 50-day and 20-day MAs display bullish breadth divergences.</li>
</ul>


The SPX is at 4165-4200 support, and the Nasdaq 100 (QQQ) is at $350-$355 support. No "decisive" breakdowns quite yet as supports show signs of holding.
Russell 2000 (IWM) is testing 1.5-year support at $162-$163, making this a logical spot for small-caps to bounce and an attractive risk/reward for buyers
Continue to see signs of breadth possibly bottoming-out. Both the SPX and Russell 2000 and the % of stocks above their 50-day and 20-day MAs display bullish breadth divergences.


Bullish Breadth Divergences Persist; Russell 2000 Testing 1.5-Year Support; Buys in Education Svcs

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

iShares Russell 2000 ETF / Technical Analysis

<ul>
<li>Our 2023 outlook remains unchanged; we see the market indexes consolidating within broad horizontal ranges, and we expect the top-end of the range to be 4165-4200 on the S&amp;P 500.</li>
<li>The bottom-end of the range is at the 2022 lows (3490). Another possible support level we are monitoring is at the December 2022 lows (3765).</li>
<li>The Russell 2000 (IWM) is testing important support at $170 (the Dec. 2022 lows and the prior downtrend from 2022), suggesting this is a logical time for an oversold bounce.</li>
</ul>


Our 2023 outlook remains unchanged; we see the market indexes consolidating within broad horizontal ranges, and we expect the top-end of the range to be 4165-4200 on the S&amp;P 500.
The bottom-end of the range is at the 2022 lows (3490). Another possible support level we are monitoring is at the December 2022 lows (3765).
The Russell 2000 (IWM) is testing important support at $170 (the Dec. 2022 lows and the prior downtrend from 2022), suggesting this is a logical time for an oversold bounce.


Russell 2000 (IWM) Testing $170; Downgrading Energy; 10-Yr Treasury Yield Testing 3.4% Support

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 metals and mining market took a breath after a strong January with gold and copper pulling back 5% and 3%, respectively</li><li>As full-year earnings roll in, the effects of inflation are taking hold with costs rising dramatically and earnings missing expectations</li><li>Despite the February slowdown, we anticipate 2023 to be a standout year for both precious metals and base metals and encourage investors to position themselves accordingly </li></ul>

The metals and mining market took a breath after a strong January with gold and copper pulling back 5% and 3%, respectivelyAs full-year earnings roll in, the effects of inflation are taking hold with costs rising dramatically and earnings missing expectationsDespite the February slowdown, we anticipate 2023 to be a standout year for both precious metals and base metals and encourage investors to position themselves accordingly 

<p>We continue to have a bullish outlook and we believe the path of least resistance remains higher. Perhaps the most important thing which supports our bullish outlook is the continued lack of breakdowns on all S&amp;P 500 Sectors and all the major averages. In today’s report we highlight attractive Groups and stocks within Materials: Copper, Gold, Silver, Platinum, and Uranium Mining.</p>

We continue to have a bullish outlook and we believe the path of least resistance remains higher. Perhaps the most important thing which supports our bullish outlook is the continued lack of breakdowns on all S&amp;P 500 Sectors and all the major averages. In today’s report we highlight attractive Groups and stocks within Materials: Copper, Gold, Silver, Platinum, and Uranium Mining.

U.S. Equity Strategy: Upgrading Materials To Overweight

Canada

Kinross Gold Corporation is involved in the exploration, development, and production of gold in countries located around the world.  The Company currently has operations in the United States, Brazil, Chile, Ecuador and Russia.

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Kinross Gold (K CN)

Bullish Breadth Divergences Persist; Russell 2000 Testing 1.5-Year Support; Buys in Education Svcs

$RTY $IWM $SPX $SPY and the % of stocks above their 50-day MAs (and 20-day MAs) display bullish breadth divergences. Similar bullish divergences in...

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

Russell 2000 (IWM) Testing $170; Downgrading Energy; 10-Yr Treasury Yield Testing 3.4% Support

Our 2023 $SPX outlook remains unchanged: rangebound trade between 4165-4200 and 3490, with Dec. 2022 lows (3765) also possible support. Bears in...

Vermilion Research

Mining Monthly: February Edition

The metals and mining market took a breath after a strong January with gold and copper pulling back 5% and 3%, respectively As full-year earnings...

Atrium Research

U.S. Equity Strategy: Upgrading Materials To Overweight

We continue to have a bullish outlook and we believe the path of least resistance remains higher. Perhaps the most important thing which supports...

Vermilion Research

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