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

Shanghai Stock Exchange Composite Index / Technical Analysis

While there are always exceptions at the individual stock level, MSCI Emerging Markets (EEM-US) and Japan (TOPIX, TOPIX Small) have been some of the weaker areas to invest throughout 2021. We now see early signs of positive change and we recommend adding exposure to emerging markets and Japan.

While there are always exceptions at the individual stock level, MSCI Emerging Markets (EEM-US) and Japan (TOPIX, TOPIX Small) have been some of the weaker areas to invest throughout 2021. We now see early signs of positive change and we recommend adding exposure to emerging markets and Japan.

Buying Opportunities Within Emerging Markets and Japan; US Dollar Failing At 93.50

Founder & Chief Market Strategist - SAV Markets, SAV Markets

Shyam Devani

Founder & Chief Market Strategist - SAV Markets

FX & Rates

Tables seem to be turning as German yields look to be on the rise while US yields struggle to breakthrough (at least so far)This seems to be a combination of adjusting central banks and possibly also market positioning/assumptions.

Tables seem to be turning as German yields look to be on the rise while US yields struggle to breakthrough (at least so far)This seems to be a combination of adjusting central banks and possibly also market positioning/assumptions.

Germany and US Yields Point to Higher EURUSD

Recent price action developments give further confidence to the bias that the USD is likely to slipA break below 92.46 on the USD Index will be the next short-term development to watchFriday’s bearish outside day indicates that we will fall through soon.

Recent price action developments give further confidence to the bias that the USD is likely to slipA break below 92.46 on the USD Index will be the next short-term development to watchFriday’s bearish outside day indicates that we will fall through soon.

SPDR S&P Oil & Gas Exploration / Technical Analysis

Weak market dynamics continue to be counterbalanced by the fact that there is an absence of breakdowns at the index and Sector level; even the weakest Sectors such as Energy (XLE, XOP, RYE) and Transportation (IYT, XTN, JETS) are holding above key supports. Until we start to see breakdowns at the Sector and index level, we remain constructive overall.Charts highlighted: XOP, JETS, S&amp;P 500, IWM, IWC, WTI Crude Oil, Copper, US dollar, CMCSA, CHTR, LBRDA, AMT, SBAC, ACN, INFY, EQIX, WIT, CTSH, IT, WM, RSG, WCN, and ROL

Weak market dynamics continue to be counterbalanced by the fact that there is an absence of breakdowns at the index and Sector level; even the weakest Sectors such as Energy (XLE, XOP, RYE) and Transportation (IYT, XTN, JETS) are holding above key supports. Until we start to see breakdowns at the Sector and index level, we remain constructive overall.Charts highlighted: XOP, JETS, S&amp;P 500, IWM, IWC, WTI Crude Oil, Copper, US dollar, CMCSA, CHTR, LBRDA, AMT, SBAC, ACN, INFY, EQIX, WIT, CTSH, IT, WM, RSG, WCN, and ROL

U.S. Equity Index and Sector Breakdowns Remain Absent; Buying Communications & Services Stocks

Fixed Income and Currency Strategist

Gautam Jain, PhD, CFA

We reiterate our view of the US dollar staying in a range despite the brief breach last week. We expand our baseline view to incorporate two risk scenarios, equivalent to the two ends of the dollar smile. From the point of view of EM currencies, the best-case scenario is our baseline view of the dollar staying rangebound. We also expound on the recent increase in the correlation between commodities and EM currencies and what it means for EM FX.Separately, the attached file is a snapshot of the EM currency market in which we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to an EM currency index.

We reiterate our view of the US dollar staying in a range despite the brief breach last week. We expand our baseline view to incorporate two risk scenarios, equivalent to the two ends of the dollar smile. From the point of view of EM currencies, the best-case scenario is our baseline view of the dollar staying rangebound. We also expound on the recent increase in the correlation between commodities and EM currencies and what it means for EM FX.Separately, the attached file is a snapshot of the EM currency market in which we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to an EM currency index.

FX Dashboard: US Dollar, Commodities, and EM Currencies

United States

The U.S. Dollar Index(USDX) indicates the general int'l value of the USD. The USDX does this by averaging the exchange rates between the USD and major world currencies. The ICE US computes this by using the rates supplied by some 500 banks. FOR REAL TIME SEE EIS ICEA<GO>.

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Dollar Index (DXY CURNCY)

Buying Opportunities Within Emerging Markets and Japan; US Dollar Failing At 93.50

MSCI Emerging Markets (EEM-US) and Japan (TOPIX, TOPIX Small) have been some of the weaker areas to invest throughout 2021. We now see early signs...

Vermilion Research

Germany and US Yields Point to Higher EURUSD

There are early signs that yields in Germany are diverging from the US just as we saw in April this year. Is this the start of a decent rally for...

Shyam Devani

USD Index Looking Weaker

USD weakness is coming through after seeing a rally that was similar to Q1. Watch for the next short term breaks to the downside

Shyam Devani

U.S. Equity Index and Sector Breakdowns Remain Absent; Buying Communications & Services Stocks

Until we start to see breakdowns at the Sector and index level, we remain constructive overall. Charts highlighted: XOP, JETS, S&P 500, IWM, IWC,...

Vermilion Research

FX Dashboard: US Dollar, Commodities, and EM Currencies

We discuss our base-case view for the US dollar along with the risk scenarios and their implications for EM currencies. We also discuss the...

Gautam Jain, PhD, CFA

Price Gauge

52-week Range

Market Cap (USDm)

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Dividend (Yield)