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

<p>The market’s bounce off of the December, 2018 low was a swift “V” reversal. While we often see a retest of such events, our outlook since that time has repeatedly suggested that a retest may not occur. We continue to believe the market remains healthy with overall and leadership remaining centered in the cyclical Sectors, mainly Technology.  In this publication we provide an overview of our U.S. equity strategy, and examine attractive opportunities in each of our 12 Sectors, beginning with Technology - our favorite.</p>

The market’s bounce off of the December, 2018 low was a swift “V” reversal. While we often see a retest of such events, our outlook since that time has repeatedly suggested that a retest may not occur. We continue to believe the market remains healthy with overall and leadership remaining centered in the cyclical Sectors, mainly Technology.  In this publication we provide an overview of our U.S. equity strategy, and examine attractive opportunities in each of our 12 Sectors, beginning with Technology - our favorite.

U.S. Equity Strategy: Positive Outlook Intact; Cyclicals Leading; Opportunities in Tech Sector

<p>Technology is our favorite Sector within the U.S. equity landscape, and remains leadership – 73% of our Tech Groups are in the top 33% in terms of our Relative Strength Rankings (RSRs). Internally, semis and semi-suppliers continue to outperform and many names have pulled back to offer attractive entry points. In this report we highlight our favorite setups within the U.S. Technology Sector. </p>

Technology is our favorite Sector within the U.S. equity landscape, and remains leadership – 73% of our Tech Groups are in the top 33% in terms of our Relative Strength Rankings (RSRs). Internally, semis and semi-suppliers continue to outperform and many names have pulled back to offer attractive entry points. In this report we highlight our favorite setups within the U.S. Technology Sector. 

Index Rebalance and Special Situations Coverage, Quiddity Advisors

Anjana Amarasuriya

Index Rebalance and Special Situations Coverage

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The SP 500 index tracks the 500 largest (mostly profitable) US-listed names and is one of the most highly-tracked indices in the world.</li>
<li>We expect 2 changes during the June 2026 index rebal event, with a possible intra-review ADD before the regular rebalance announcement.</li>
<li>SP DJI has launched a public consultation on the Treatment of MegaCap Companies. No impact expected until next year, if adopted.</li>
</ul>


The SP 500 index tracks the 500 largest (mostly profitable) US-listed names and is one of the most highly-tracked indices in the world.
We expect 2 changes during the June 2026 index rebal event, with a possible intra-review ADD before the regular rebalance announcement.
SP DJI has launched a public consultation on the Treatment of MegaCap Companies. No impact expected until next year, if adopted.


Quiddity Leaderboard SP500/600 Jun26 Rebal: Base Date Is Only Two Weeks Away

US-EU Index Rebalances / Quantitative Researcher

Dimitris Ioannidis

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bloom-energy-corp" target="_blank" data-smartkarma-citation="entities:34062:1" rel="noopener">Bloom Energy (BE US)</a> became eligible for S&amp;P500 inclusion following positive Q1 earnings released on 28 April 2026.</li>
<li>The company's market cap and other eligibility metrics are estimated to place it among the top 5 addition candidates for S&amp;P500 with a chance of inclusion in June 2026.</li>
<li>Top forecasted additions for the June 2026 review are <a href="https://www.smartkarma.com/entities/flex-ltd" target="_blank" data-smartkarma-citation="entities:36680:1" rel="noopener">Flex (FLEX US)</a> and <a href="https://www.smartkarma.com/entities/technipfmc-plc-2f8326ad-9188-44ca-bada-c9b9144835fd" target="_blank" data-smartkarma-citation="entities:13457:1" rel="noopener">TechnipFMC (FTI US)</a>.</li>
</ul>



Bloom Energy (BE US) became eligible for S&amp;P500 inclusion following positive Q1 earnings released on 28 April 2026.
The company's market cap and other eligibility metrics are estimated to place it among the top 5 addition candidates for S&amp;P500 with a chance of inclusion in June 2026.
Top forecasted additions for the June 2026 review are Flex (FLEX US) and TechnipFMC (FTI US).


Bloom Energy (BE US): Blooming Earnings Unlock S&P500 Eligibility

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

Thematic (Sector/Industry)

<p>Bloomberg recently <a href="https://www.bloomberg.com/news/articles/2018-05-07/qualcomm-is-said-to-plan-exit-from-server-chips-amid-cost-cuts" target="_blank">reported</a> that <a href="https://www.smartkarma.com/entities/969" target="_blank" data-smartkarma-citation="entities:969:1">Qualcomm</a> may be planning to exit the server market for ARM CPU's:</p><div class="content-highlight"><p>The San Diego-based company is exploring whether to shutter the unit or look for a new owner for the division, which was working on ways to get technology from ARM Holdings Plc into the market for chips that are at the heart of servers, the person said. ARM is one of Intel’s only rivals in developing semiconductor designs, and its architecture is primarily used in less power-intensive products, such…</p></div>

Bloomberg recently reported that Qualcomm may be planning to exit the server market for ARM CPU's:The San Diego-based company is exploring whether to shutter the unit or look for a new owner for the division, which was working on ways to get technology from ARM Holdings Plc into the market for chips that are at the heart of servers, the person said. ARM is one of Intel’s only rivals in developing semiconductor designs, and its architecture is primarily used in less power-intensive products, such…

Qualcomm Likely To Exit ARM Server CPU Business

United States

Marvell Technology, Inc. develops and produces semiconductors and related technology. The Company offers security and networking platform, secure data processing, networking, and storage solutions. Marvell Technology serves customers worldwide.

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Marvell Technology (MRVL US)

U.S. Equity Strategy: Positive Outlook Intact; Cyclicals Leading; Opportunities in Tech Sector

The market’s bounce off of the December, 2018 low was a swift “V” reversal. While we often see a retest of such events, our outlook since that time...

Vermilion Research

Opportunities in U.S. Technology Sector

Technology is our favorite Sector within the U.S. equity landscape, and remains leadership – 73% of our Tech Groups are in the top 33% in terms of...

Vermilion Research

Quiddity Leaderboard SP500/600 Jun26 Rebal: Base Date Is Only Two Weeks Away

One intra-review SP 500 ADD slot in play ahead of the June 2026 rebalance. 2 regular ADDs and 2 DELs expected. Meanwhile, SP DJI's MegaCap...

Anjana Amarasuriya

Bloom Energy (BE US): Blooming Earnings Unlock S&P500 Eligibility

Bloom Energy became a strong candidate for S&P500 inclusion after positive Q1 earnings and with the EA acquisition hence replacement expected by...

Dimitris Ioannidis

Qualcomm Likely To Exit ARM Server CPU Business

Bloomberg recently reported that Qualcomm may be planning to exit the server market for ARM CPU's:The San Diego-based company is exploring whether...

William Keating

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