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

Global indexes remain overwhelmingly positive which is supported by the fact that there is a dearth of breakdowns. Overall our big picture view remains unchanged; overhead longer-term resistance on the MSCI EM, EAFE, and ACWI ex-US indexes (all priced in local currency) is something to be aware of, however if the ACWI-US is above $70 our intermediate-term outlook remains bullish and we suggest buying any dips. In today's report we highlight attractive charts within defensives (Consumer Staples &amp; Utilities), cyclicals (Consumer Discretionary, Energy, Financial, &amp; Materials), and in-between Sectors (Communications, Services, &amp; Health Care)

Global indexes remain overwhelmingly positive which is supported by the fact that there is a dearth of breakdowns. Overall our big picture view remains unchanged; overhead longer-term resistance on the MSCI EM, EAFE, and ACWI ex-US indexes (all priced in local currency) is something to be aware of, however if the ACWI-US is above $70 our intermediate-term outlook remains bullish and we suggest buying any dips. In today's report we highlight attractive charts within defensives (Consumer Staples &amp; Utilities), cyclicals (Consumer Discretionary, Energy, Financial, &amp; Materials), and in-between Sectors (Communications, Services, &amp; Health Care)

Global Equity Strategy: Stick With Technology

Upside momentum continues to wane for global equities. Price action this week has indeed confirmed lower highs for now in the MSCI ACWI, ACWI ex-US, EAFE, and EM indexes. These lower highs increase the probability for breakdowns and a deeper pullback, but we do not want to get ahead of ourselves. Until we see breakdowns we still view global equities as being in a period of consolidation. We outline important technical levels across markets and highlight actionable set ups within Technology, Health care and Staples.

Upside momentum continues to wane for global equities. Price action this week has indeed confirmed lower highs for now in the MSCI ACWI, ACWI ex-US, EAFE, and EM indexes. These lower highs increase the probability for breakdowns and a deeper pullback, but we do not want to get ahead of ourselves. Until we see breakdowns we still view global equities as being in a period of consolidation. We outline important technical levels across markets and highlight actionable set ups within Technology, Health care and Staples.

Global Equity Strategy: Stay Defensive With Technology, Health Care, Staples

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

In this report, we analyse Asia Ex-Japan fund positioning across the key Asian industry groups.  The analysis measures current sentiment across all Asian industry groups by calculating today's positioning levels in relation to historical levels.  We then overlay short term fund activity data in order to detect reversals or confirmations of longer-term trends.For this analysis, we analyse the holdings of 102 actively managed mutual funds benchmarked to the MSCI Asia Ex-Japan Index. The current fund sample covers a combined AUM of $70bn.

In this report, we analyse Asia Ex-Japan fund positioning across the key Asian industry groups.  The analysis measures current sentiment across all Asian industry groups by calculating today's positioning levels in relation to historical levels.  We then overlay short term fund activity data in order to detect reversals or confirmations of longer-term trends.For this analysis, we analyse the holdings of 102 actively managed mutual funds benchmarked to the MSCI Asia Ex-Japan Index. The current fund sample covers a combined AUM of $70bn.

Focus Industries for Asia Ex-Japan Fund Managers

This report looks at A-Share positioning among GEM, Asia-Ex Japan and Global funds.  It serves to highlight the continued growth in both the size and breadth of A-Share holdings and provides detail on the next wave of stocks that are capturing the attention of international investors. Specifically, ownership levels in <a href="https://www.smartkarma.com/entities/4364" target="_blank" data-smartkarma-citation="entities:4364:1">Nari Technology Co Ltd A (600406 CH)</a>, <a href="https://www.smartkarma.com/entities/12310" target="_blank" data-smartkarma-citation="entities:12310:1">Luxshare Precision Industry (002475 CH)</a>, <a href="https://www.smartkarma.com/entities/18441" target="_blank" data-smartkarma-citation="entities:18441:1">Han'S Laser Technology In A (002008 CH)</a>  and <a href="https://www.smartkarma.com/entities/20183" target="_blank" data-smartkarma-citation="entities:20183:1">Sany Heavy Industry Co., (600031 CH)</a> have risen, particularly among Asia-Ex and GEM managers.

This report looks at A-Share positioning among GEM, Asia-Ex Japan and Global funds.  It serves to highlight the continued growth in both the size and breadth of A-Share holdings and provides detail on the next wave of stocks that are capturing the attention of international investors. Specifically, ownership levels in Nari Technology Co Ltd A (600406 CH), Luxshare Precision Industry (002475 CH), Han'S Laser Technology In A (002008 CH)  and Sany Heavy Industry Co., (600031 CH) have risen, particularly among Asia-Ex and GEM managers.

Copley Fund Research analyse the holdings of long-only equity funds.  This analysis is taken from our GEM research product, covering 189 global emerging market funds with a combined AUM of $350bn. In this month's Positioning Monthly, we highlight an increasing exposure towards Indonesian Financial stocks, with <a href="https://www.smartkarma.com/entities/484" target="_blank" data-smartkarma-citation="entities:484:1">Bank Rakyat Indonesia Perser (BBRI IJ)</a> and <a href="https://www.smartkarma.com/entities/440" target="_blank" data-smartkarma-citation="entities:440:1">Bank Central Asia (BBCA IJ)</a> the key overweight positions.  We analyse holdings in the food and beverages industry groups as ownership reaches peak levels in both.  Finally, we explore the sharp reversal in <a href="https://www.smartkarma.com/entities/13359" target="_blank" data-smartkarma-citation="entities:13359:1">Lenovo (992 HK)</a> sentiment as more and more GEM funds buy into the stock.

Copley Fund Research analyse the holdings of long-only equity funds.  This analysis is taken from our GEM research product, covering 189 global emerging market funds with a combined AUM of $350bn. In this month's Positioning Monthly, we highlight an increasing exposure towards Indonesian Financial stocks, with Bank Rakyat Indonesia Perser (BBRI IJ) and Bank Central Asia (BBCA IJ) the key overweight positions.  We analyse holdings in the food and beverages industry groups as ownership reaches peak levels in both.  Finally, we explore the sharp reversal in Lenovo (992 HK) sentiment as more and more GEM funds buy into the stock.

GEM Positioning Monthly:  Indonesian Financials, Food & Beverages, Lenovo Sentiment Reversal

China

Wuliangye Yibin Co., Ltd. manufactures and markets Wuliangye series of liquors. Through its subsidiaries, the Company also manufactures carbon and lactic acid and has operation in printing and packaging materials businesses.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Wuliangye Yibin Co Ltd A (000858 CH)

Global Equity Strategy: Stick With Technology

Global indexes remain overwhelmingly positive which is supported by the fact that there is a dearth of breakdowns. Overall our big picture view...

Vermilion Research

Global Equity Strategy: Stay Defensive With Technology, Health Care, Staples

Upside momentum continues to wane for global equities. Price action this week has indeed confirmed lower highs for now in the MSCI ACWI, ACWI...

Vermilion Research

Focus Industries for Asia Ex-Japan Fund Managers

In this report, we analyse Asia Ex-Japan fund positioning across the key Asian industry groups. The analysis measures current sentiment across all...

Steven Holden

China A-Shares: The 3rd Wave

This report looks at A-Share positioning among GEM, Asia-Ex Japan and Global funds. It serves to highlight the continued growth in both the size...

Steven Holden

GEM Positioning Monthly: Indonesian Financials, Food & Beverages, Lenovo Sentiment Reversal

Copley Fund Research analyse the holdings of long-only equity funds. This analysis is taken from our GEM research product, covering 189 global...

Steven Holden

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)