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>A weak 20-year note auction last Wednesday sparked the first semi-meaningful pullback since this lockout rally began April 22nd, when we turned short-term bullish (4/22/25Compass) as SPX was testing 5100-5120.</li>
<li>We will be watching the 10- and 30-year Treasury yields closely, as both are approaching important resistance levels (more on that below).</li>
<li>Unsurprisingly, SPX only tested short-term gap support on the pullback at 5700-5785, where we said to expect support in last week's Compass (5/20/25). Expect this gap support to hold.</li>
</ul>


A weak 20-year note auction last Wednesday sparked the first semi-meaningful pullback since this lockout rally began April 22nd, when we turned short-term bullish (4/22/25Compass) as SPX was testing 5100-5120.
We will be watching the 10- and 30-year Treasury yields closely, as both are approaching important resistance levels (more on that below).
Unsurprisingly, SPX only tested short-term gap support on the pullback at 5700-5785, where we said to expect support in last week's Compass (5/20/25). Expect this gap support to hold.


Upgrading Consumer Discretionary (XLY) To Overweight; 5700-5785 SPX Gap Support Holding as Expected

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Capital Markets

<ul>
<li>Innospace is getting ready to complete its IPO in June 2024. According to bankers' valuation, the implied market cap of Innospace is from 347 billion won to 434 billion won.</li>
<li>Innospace engages in the satellite launch vehicle production and launch service business.</li>
<li>The company estimates its sales to increase from 0.2 billion won in 2023 to 2.0 billion won in 2024, 47.8 billion won in 2025, and 97.2 billion won in 2026.</li>
</ul>


Innospace is getting ready to complete its IPO in June 2024. According to bankers' valuation, the implied market cap of Innospace is from 347 billion won to 434 billion won.
Innospace engages in the satellite launch vehicle production and launch service business.
The company estimates its sales to increase from 0.2 billion won in 2023 to 2.0 billion won in 2024, 47.8 billion won in 2025, and 97.2 billion won in 2026.


United States

Rocket Lab USA, Inc. operates as a space systems company. The Company manufactures spacecraft and satellite components, as well as satellite launch and on-orbit management services. Rocket Lab USA serves customers in the United States.

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Rocket Lab USA (RKLB US)

Upgrading Consumer Discretionary (XLY) To Overweight; 5700-5785 SPX Gap Support Holding as Expected

Upgrading Consumer Discretionary $XLY to Overweight; 5700-5785 $SPX Gap Support Holding as we expected/discussed last week. 4.7-4.8% on 10y...

Vermilion Research

Innospace IPO Preview

Innospace is getting ready to complete its IPO in June 2024. According to bankers' valuation, the implied market cap of Innospace is from 347...

Douglas Kim

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