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 increasingly more reasons to be bullish than not, and we believe the path of least resistance is higher for US equities. We also continue to recommend a “buy the dip” strategy. In this report we outline new developments, including more signs that the US dollar is rolling over, bullish developments for gold &amp; gold miners, and major breakouts for the Consumer Discretionary Sector. We also highlight attractive Groups and stocks within Materials and Energy: Copper, Gold, South Africa, Silver, Platinum, and Oil &amp; Gas Equip./Svcs., Large-Cap.

We continue to see increasingly more reasons to be bullish than not, and we believe the path of least resistance is higher for US equities. We also continue to recommend a “buy the dip” strategy. In this report we outline new developments, including more signs that the US dollar is rolling over, bullish developments for gold &amp; gold miners, and major breakouts for the Consumer Discretionary Sector. We also highlight attractive Groups and stocks within Materials and Energy: Copper, Gold, South Africa, Silver, Platinum, and Oil &amp; Gas Equip./Svcs., Large-Cap.

Weakening Dollar, Strengthening Commodities

We remain cautious as there continues to be several new or persisting negative signals which tell us that upside is likely to be muted from here -- barring improvements. At the same time we are not seeing widespread breakdowns and the major averages are still consolidating within a 1-month horizontal range. As long as this consolidation continues, a neutral outlook is appropriate. In today’s report we highlight attractive Groups and stocks within health care staffing, silver, and platinum miners, and Electric and Gas utilities.

We remain cautious as there continues to be several new or persisting negative signals which tell us that upside is likely to be muted from here -- barring improvements. At the same time we are not seeing widespread breakdowns and the major averages are still consolidating within a 1-month horizontal range. As long as this consolidation continues, a neutral outlook is appropriate. In today’s report we highlight attractive Groups and stocks within health care staffing, silver, and platinum miners, and Electric and Gas utilities.

S&P 500 Consolidating Despite Negative Signals

In last week’s Compass we laid the case that markets were at a key inflection point heading into the first Fed rate cut in over a decade. Despite hawkish Fed takeaways, it was the escalation in the U.S.-China trade war that was the bigger story, however both weighed on global equities. Needless to say, everything we highlighted last week as being at a key inflection point failed to resolve in a manner that was bullish for equities. Below we highlight several developments we are watching which will help determine if the current pullback will be similar to what happened in May, or if we should expect a deeper correction. In today’s report we highlight attractive Groups and stocks within Materials: Gold, Western Hemisphere, Large-Cap, Gold, Western Hemisphere, Small-Cap, Gold, South Africa, and Silver, Platinum

In last week’s Compass we laid the case that markets were at a key inflection point heading into the first Fed rate cut in over a decade. Despite hawkish Fed takeaways, it was the escalation in the U.S.-China trade war that was the bigger story, however both weighed on global equities. Needless to say, everything we highlighted last week as being at a key inflection point failed to resolve in a manner that was bullish for equities. Below we highlight several developments we are watching which will help determine if the current pullback will be similar to what happened in May, or if we should expect a deeper correction. In today’s report we highlight attractive Groups and stocks within Materials: Gold, Western Hemisphere, Large-Cap, Gold, Western Hemisphere, Small-Cap, Gold, South Africa, and Silver, Platinum

The S&amp;P 500 continues to move higher on narrow leadership, which is not inspiring a bullish outlook. Currently leading the S&amp;P 500 higher in terms of RS are Technology, Services, Facebook (FB), Amazon (AMZN), and Procter &amp; Gamble (PG). If this were a bull market, (1) PG would likely NOT be listed here as leadership, and (2) we would expect to see participation broaden out to Discretionary (RCD), Transportation (IYT), banks (KBE), Industrials (XLI), and small-caps (IWM). All of these areas are still consolidating below meaningful resistance, and we continue to believe upside is likely to be muted as long as this rings true.In today’s report we highlight attractive Groups and stocks within Transportation, Materials, and Services:

The S&amp;P 500 continues to move higher on narrow leadership, which is not inspiring a bullish outlook. Currently leading the S&amp;P 500 higher in terms of RS are Technology, Services, Facebook (FB), Amazon (AMZN), and Procter &amp; Gamble (PG). If this were a bull market, (1) PG would likely NOT be listed here as leadership, and (2) we would expect to see participation broaden out to Discretionary (RCD), Transportation (IYT), banks (KBE), Industrials (XLI), and small-caps (IWM). All of these areas are still consolidating below meaningful resistance, and we continue to believe upside is likely to be muted as long as this rings true.In today’s report we highlight attractive Groups and stocks within Transportation, Materials, and Services:

U.S. Equity Strategy: Semiconductors, Transportation Improving

MSCI Emerging Markets Index / Technical Analysis

Global markets have deteriorated considerably over the past couple weeks. The MSCI EM index has decisively broken down below the 60,000 major support level we identified as support, and the MSCI ACWI ETF has broken below its 200-day MA, leading us to believe additional consolidation is likely.

Global markets have deteriorated considerably over the past couple weeks. The MSCI EM index has decisively broken down below the 60,000 major support level we identified as support, and the MSCI ACWI ETF has broken below its 200-day MA, leading us to believe additional consolidation is likely. 

EM and ACWI Showing Decisive Breakdowns - Metals & Miners Still Attractive

Canada

Pan American Silver Corporation is a primary silver producer.   The Company has seven operating mines in Mexico,  Peru, Argentina and Bolivia and several development projects in USA,  Mexico, Peru and Argentina.

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Pan American Silver (PAAS CN)

Weakening Dollar, Strengthening Commodities

We continue to see increasingly more reasons to be bullish than not, and we believe the path of least resistance is higher for US equities. We also...

Vermilion Research

S&P 500 Consolidating Despite Negative Signals

We remain cautious as there continues to be several new or persisting negative signals which tell us that upside is likely to be muted from here --...

Vermilion Research

Here We Go Again

In last week’s Compass we laid the case that markets were at a key inflection point heading into the first Fed rate cut in over a decade. Despite...

Vermilion Research

U.S. Equity Strategy: Semiconductors, Transportation Improving

The S&P 500 continues to move higher on narrow leadership, which is not inspiring a bullish outlook. Currently leading the S&P 500 higher...

Vermilion Research

EM and ACWI Showing Decisive Breakdowns - Metals & Miners Still Attractive

Global markets have deteriorated considerably over the past couple weeks. The MSCI EM index has decisively broken down below the 60,000 major...

Vermilion Research

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