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>As discussed for two weeks, we see more and more signs leading us to believe SPX made a major bottom at 4800-4820, which was expected support from our 4/8/25 Compass.</li>
<li>We have been short-term bullish since our 4/22/25 Compass -- when the SPX was testing 5100-5120 support -- but now we are upgrading our intermediate-term outlook to bullish as well.</li>
<li>Our short- and intermediate-term outlook will remain bullish as long as the SPX is above 5500</li>
</ul>


As discussed for two weeks, we see more and more signs leading us to believe SPX made a major bottom at 4800-4820, which was expected support from our 4/8/25 Compass.
We have been short-term bullish since our 4/22/25 Compass -- when the SPX was testing 5100-5120 support -- but now we are upgrading our intermediate-term outlook to bullish as well.
Our short- and intermediate-term outlook will remain bullish as long as the SPX is above 5500


Lockout Rally Continues; Still Short-Term Bullish on SPX, Now Upgrading I.T. Outlook to Bullish Also

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>The WTR Sustainable Index was up 1.3% W/W versus the S&amp;P 500 Index (down 0.5%), the Russell 2000 Index (up 0.1%), and the Nasdaq Index (down 0.2%).</li><li>Energy Technology (12.1% of the index) was up 4.2%, while Industrial Climate and Ag Technology (47.6% of the index) was up 0.5%, ClimateTech Mining was up 1.7%, and Advanced Transportation Solutions (21.5% of the index) was up 1.3%.</li><li>Top 10 Performers: AZRE, AEVA, GCEH, HLGN, ALLIF, PEV, SHLS, EAF, RUN, EVGO</li></ul>

The WTR Sustainable Index was up 1.3% W/W versus the S&amp;P 500 Index (down 0.5%), the Russell 2000 Index (up 0.1%), and the Nasdaq Index (down 0.2%).Energy Technology (12.1% of the index) was up 4.2%, while Industrial Climate and Ag Technology (47.6% of the index) was up 0.5%, ClimateTech Mining was up 1.7%, and Advanced Transportation Solutions (21.5% of the index) was up 1.3%.Top 10 Performers: AZRE, AEVA, GCEH, HLGN, ALLIF, PEV, SHLS, EAF, RUN, EVGO

Sustainable Investing Surveyor Focus on Neste Corporation

HarmoniQ Insights

William Mann

Independent Insight Provider

At HarmoniQ Insights, we empower investors to enhance their investment strategies by integrating cutting-edge quantitative research processes and technologies. Our solutions provide access to leading quantitative data providers and services, tailored to align with each client’s unique goals. By bridging the gap between traditional investment approaches and advanced data-driven methods, we help clients gain a competitive edge through innovation in both process and technology.

Cross Asset Strategy

<ul><li>Episode 19 of New Barbarians podcast with guest Connor Farley, CEO of Trivia</li><li>Markets trading sideways in May after strong April</li><li>Market volatility driven by headlines, particularly on tariff talks with China</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Episode 19 of New Barbarians podcast with guest Connor Farley, CEO of TriviaMarkets trading sideways in May after strong AprilMarket volatility driven by headlines, particularly on tariff talks with ChinaThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

AQR DNA in a Digital World: Systematic Edge with Connor Farley - The New Barbarians Episode #019

Derivatives and Quantitative Strategist

Gaudenz Schneider

Macroeconomics

<ul>
<li>
Central Bank Rate Decisions, including from the Bank of Japan, the Fed, the Reserve Bank of Australia, and the Bank of Korea.</li>
<li>
Elections: Australia is holding national elections on 3 May while South Korea has presidential elections in early June.</li>
<li>
Various exchange holidays in several countries at the beginning of the month, and in the last week of May.</li>
</ul>



Central Bank Rate Decisions, including from the Bank of Japan, the Fed, the Reserve Bank of Australia, and the Bank of Korea.

Elections: Australia is holding national elections on 3 May while South Korea has presidential elections in early June.

Various exchange holidays in several countries at the beginning of the month, and in the last week of May.


<ul><li>The WTR Sustainable Index was up 4.3% W/W versus the S&amp;P 500 Index (up 4.6%), the Russell 2000 Index (up 4.1%) and the Nasdaq Index (up 6.4%).</li><li>Energy Technology (12.6% of the index) was up 5.1%, while Industrial Climate and Ag Technology (47.1% of the index) was up 5.6%, ClimateTech Mining was down 1.0%, and Advanced Transportation Solutions (21.3% of the index) was up 5.8%.</li><li>Top 10 Performers: AMY, PLL, AVL, IRBT, SLI, COMM, PE, NGPHF, MEOH, HSC</li></ul>

The WTR Sustainable Index was up 4.3% W/W versus the S&amp;P 500 Index (up 4.6%), the Russell 2000 Index (up 4.1%) and the Nasdaq Index (up 6.4%).Energy Technology (12.6% of the index) was up 5.1%, while Industrial Climate and Ag Technology (47.1% of the index) was up 5.6%, ClimateTech Mining was down 1.0%, and Advanced Transportation Solutions (21.3% of the index) was up 5.8%.Top 10 Performers: AMY, PLL, AVL, IRBT, SLI, COMM, PE, NGPHF, MEOH, HSC

Sustainable Investing Surveyor Focus on Westwater Resources

United States

The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities and serves as the foundation for a wide range of investment products. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.

S&P 500 INDEX (SPX INDEX)

Lockout Rally Continues; Still Short-Term Bullish on SPX, Now Upgrading I.T. Outlook to Bullish Also

Lockout Rally Continues; Still Short-Term Bullish on $SPX, Now Also Upgrading Intermediate-Term Outlook to Bullish; Upgrading Technology $XLK $SMH...

Vermilion Research

Sustainable Investing Surveyor Focus on Neste Corporation

The WTR Sustainable Index was up 1.3% W/W versus the S&P 500 Index (down 0.5%), the Russell 2000 Index (up 0.1%), and the Nasdaq Index (down 0.2%).

Water Tower Research

AQR DNA in a Digital World: Systematic Edge with Connor Farley - The New Barbarians Episode #019

In episode 19 of New Barbarians podcast, markets are trading sideways in May after a good April, with hedge fund returns generally good and quant...

William Mann

The Month Ahead: Key Events in May 2025

May will be a busy month with central bank rate decisions, elections in Australia and South Korea. Dates of exchange holidays and monthly option...

Gaudenz Schneider

Sustainable Investing Surveyor Focus on Westwater Resources

The WTR Sustainable Index was up 4.3% W/W versus the S&P 500 Index (up 4.6%), the Russell 2000 Index (up 4.1%) and the Nasdaq Index (up 6.4%).

Water Tower Research

Lockout Rally Continues; Still Short-Term Bullish on SPX, Now Upgrading I.T. Outlook to Bullish Also

Lockout Rally Continues; Still Short-Term Bullish on $SPX, Now Also Upgrading Intermediate-Term Outlook to Bullish; Upgrading Technology $XLK $SMH...

Vermilion Research

Sustainable Investing Surveyor Focus on Neste Corporation

The WTR Sustainable Index was up 1.3% W/W versus the S&P 500 Index (down 0.5%), the Russell 2000 Index (up 0.1%), and the Nasdaq Index (down 0.2%).

Water Tower Research

AQR DNA in a Digital World: Systematic Edge with Connor Farley - The New Barbarians Episode #019

In episode 19 of New Barbarians podcast, markets are trading sideways in May after a good April, with hedge fund returns generally good and quant...

William Mann

The Month Ahead: Key Events in May 2025

​May will be a busy month with central bank rate decisions, elections in Australia and South Korea. Dates of exchange holidays and monthly option...

Gaudenz Schneider

Sustainable Investing Surveyor Focus on Westwater Resources

The WTR Sustainable Index was up 4.3% W/W versus the S&P 500 Index (up 4.6%), the Russell 2000 Index (up 4.1%) and the Nasdaq Index (up 6.4%).

Water Tower Research

May will be a busy month with central bank rate decisions, elections in Australia and South Korea. Dates of exchange holidays and monthly option...