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

Our weight of the evidence approach continues to lead us to our view that the market remains mixed-yet-constructive overall. We explain our outlook below. The S&amp;P 500 remains bullish, progressing past our first target of 4350 and now on its way to our next target of 4400-4406. As long as 4257-4275 support holds, we expect to see 4400 followed by 4460. Should 4257 fail to hold, our next support levels to watch would be 4164 followed by 4120; we are constructive as long as 4120 holds.

Our weight of the evidence approach continues to lead us to our view that the market remains mixed-yet-constructive overall. We explain our outlook below. The S&amp;P 500 remains bullish, progressing past our first target of 4350 and now on its way to our next target of 4400-4406. As long as 4257-4275 support holds, we expect to see 4400 followed by 4460. Should 4257 fail to hold, our next support levels to watch would be 4164 followed by 4120; we are constructive as long as 4120 holds.

U.S. Equity Strategy: SPX 4400 Target In Sight

Founder & Chief Market Strategist - SAV Markets, SAV Markets

Shyam Devani

Founder & Chief Market Strategist - SAV Markets

Platinum has progressed to post a short term bullish break. The lower yield environment with a still vulnerable looking USD is providing a good backdrop for precious metals.  Expect continued gains for platinum and the rest.

Platinum has progressed to post a short term bullish break. The lower yield environment with a still vulnerable looking USD is providing a good backdrop for precious metals.  Expect continued gains for platinum and the rest.

The Hang Seng, EURO STOXX 50, MSCI ACWI ex-US, and MSCI EAFE display bearish short-term inflections. Additionally, 10-year yields in the US and Germany are breaking down below key support. These deteriorating market dynamics raise concerns of a deeper pullback, however other indicators remain largely positive. As a result, we continue to see a mixed, but overall constructive market. Actionable themes highlighted in today's report include Health Care and Real Estate.

The Hang Seng, EURO STOXX 50, MSCI ACWI ex-US, and MSCI EAFE display bearish short-term inflections. Additionally, 10-year yields in the US and Germany are breaking down below key support. These deteriorating market dynamics raise concerns of a deeper pullback, however other indicators remain largely positive. As a result, we continue to see a mixed, but overall constructive market. Actionable themes highlighted in today's report include Health Care and Real Estate.

Global Equity Strategy: Mixed Market Environment Continues As Yields Break Down

Fixed Income and Currency Strategist

Gautam Jain, PhD, CFA

FX & Rates

Latin American currencies have underperformed against the broad EM complex since the start of the pandemic. In this note, we address the question that if we are entering a low-volatility period, could it be time for LatAm currencies to make up for some of their underperformance?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.

Latin American currencies have underperformed against the broad EM complex since the start of the pandemic. In this note, we address the question that if we are entering a low-volatility period, could it be time for LatAm currencies to make up for some of their underperformance?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: Is It Time for Latin American Currencies to Turn Around?

Cross Asset Strategy

After the clean-out following the last FOMC we seem to be settling into a situation of lower long end bond yields, and a stable to, now, bearish looking USD.
The combination of lower long end yields and a lower USD in the short term provides a decent backdrop for precious metals to do well. They are all showing signs of life again…

After the clean-out following the last FOMC we seem to be settling into a situation of lower long end bond yields, and a stable to, now, bearish looking USD.
The combination of lower long end yields and a lower USD in the short term provides a decent backdrop for precious metals to do well. They are all showing signs of life again…

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>.

Price Gauge
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Dollar Index (DXY CURNCY)

U.S. Equity Strategy: SPX 4400 Target In Sight

The S&P 500 remains bullish, progressing past our first target of 4350 and now on its way to our next target of 4400-4406. As long as 4257-4275...

Vermilion Research

Platinum: Bullish Break

Precious metals continue to hold up and the recent break on Platinum only adds to the bullish stance. Further short term gains are expected on all

Shyam Devani

Global Equity Strategy: Mixed Market Environment Continues As Yields Break Down

The Hang Seng, EURO STOXX 50, MSCI ACWI ex-US, and MSCI EAFE display bearish short-term inflections and 10-year yields in the US and Germany are...

Vermilion Research

FX Dashboard: Is It Time for Latin American Currencies to Turn Around?

In this note, we address the question that if we are entering a low-volatility period, could it be time for LatAm currencies to make up for some of...

Gautam Jain, PhD, CFA

Time for Precious Metals to Shine Again

The USD is beginning to come on the back foot again while long end yields refuse to rise. This combination sets the scene for precious metals to...

Shyam Devani

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)