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

We continue to see coronavirus concerns as helping correct the excess bullish sentiment across global equity markets in the short-term. Additionally, considering the dearth of breakdowns, we continue to believe this is a bull market until proven otherwise and a “buy the dip” strategy remains warranted. We recap importat technical levels across markets and highlight opportunities within the Services, Technology, Financial Services, and Staples Sectors.

We continue to see coronavirus concerns as helping correct the excess bullish sentiment across global equity markets in the short-term. Additionally, considering the dearth of breakdowns, we continue to believe this is a bull market until proven otherwise and a “buy the dip” strategy remains warranted. We recap importat technical levels across markets and highlight opportunities within the Services, Technology, Financial Services, and Staples Sectors.

Global Equity Strategy: Growth Over Value

Cross-Asset Liquidity Strategist, CrossBorder Capital

Michael J. Howell

Cross-Asset Liquidity Strategist

Implementing Research Using Alt Data & AI

CrossBorder Capital

CrossBorder Capital is a London-based independent investment advisory firm. Founded in 1996, it exploits a gap in the investment arena by focusing on Central bank liquidity. 

It specialises in the monitoring and analysis of global liquidity flows - an important determinant of asset prices, from currencies through to bonds, equities and real estate.

CrossBorder Capital implements its investment strategy and currently manages over US$ 350m.


Cross Asset Strategy

<ul>
<li>Global Liquidity surging, led by US Federal Reserve</li>
<li>Cross-border flows switching from safe havens to riskier markets</li>
<li>Parallel with 1985-87 period which started with Plaza Accord and ended with 1987 Crash</li>
<li>Danger points to watch are skidding bond markets; commodity price inflation; Central Bank policy reversal, and especially collapsing cross-border flows</li>
</ul>


Global Liquidity surging, led by US Federal Reserve
Cross-border flows switching from safe havens to riskier markets
Parallel with 1985-87 period which started with Plaza Accord and ended with 1987 Crash
Danger points to watch are skidding bond markets; commodity price inflation; Central Bank policy reversal, and especially collapsing cross-border flows


<ul>
<li>
Central Banks continue to fuel markets</li>
<li>
China’s PBoC starting to add liquidity</li>
<li>Is this a Shanghai Accord 2 matching previous monetary deals like 1985 Plaza Accord?</li>
<li>
Emerging Markets potentially key beneficiaries in 2020</li>
</ul>



Central Banks continue to fuel markets

China’s PBoC starting to add liquidity
Is this a Shanghai Accord 2 matching previous monetary deals like 1985 Plaza Accord?

Emerging Markets potentially key beneficiaries in 2020


The Race To The Top? Beijing Chases The Wall Street Bubble

<ul>
<li>Markets are being led higher by rising Global Liquidity
</li>
<li>This is a ‘classic’ liquidity-driven market rally</li>
<li>Next expect Investors’ Risk Appetite to improve and the equity rally to broaden out globally</li>
<li>World economy likely to strengthen through 2020</li>
</ul>


Markets are being led higher by rising Global Liquidity

This is a ‘classic’ liquidity-driven market rally
Next expect Investors’ Risk Appetite to improve and the equity rally to broaden out globally
World economy likely to strengthen through 2020


<ul>
<li>Risk On</li>
<li>Global Liquidity rebound continues GLI 57.0 index (range 0-100)</li>
<li>US Fed’s QE4 sees balance sheet growing 23% (ann.) clip. Set for US$5 trillion</li>
<li>Treasury Bonds look high risk and US dollar near to its peak. Is this 1987?</li>
<li>China’s PBoC is boxed-in and prevented from easing</li>
</ul>


Risk On
Global Liquidity rebound continues GLI 57.0 index (range 0-100)
US Fed’s QE4 sees balance sheet growing 23% (ann.) clip. Set for US$5 trillion
Treasury Bonds look high risk and US dollar near to its peak. Is this 1987?
China’s PBoC is boxed-in and prevented from easing


The 2020 Outlook: Trump’s Coming Landslide?

United States

The MSCI World Index is a free-float weighted equity index. It was developed with a base value of 100 as of December 31, 1969. MXWO includes developed world markets, and does not include emerging markets. MXWD includes both emerging and developed markets.

MSCI World Index (MXWO INDEX)

Global Equity Strategy: Growth Over Value

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It's A Classic Liquidity-Driven Market!

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The 2020 Outlook: Trump’s Coming Landslide?

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