Cross-Asset Strategist & Quantitative Analyst, Pennock Idea Hub

Cam Hui

Cam Hui has been professionally involved in the financial markets since 1985 in a variety of roles, both as a quantitative equity portfolio manager and as a sell-side analyst. He graduated with a degree in Computer Science from the University of British Columbia in 1980 and obtained his CFA Charter in 1989.

Cross-Asset Strategist & Quantitative Analyst

Pennock Idea Hub

We are creators of independent equity research. The Pennock Idea Hub team are veterans of the investment industry. Much of our team has spent their careers at Merrill Lynch, Deutsche Bank, RBC Capital Markets and Wood Gundy. We have taken every aspect of research back to the studs and returned to first principles. The Pennock Idea Hub marries the interests of the sell and buy side. 

We offer the best research for institutional investors by:

-Only publishing research from veteran analysts
-Eliminate the inherent conflicts of the traditional sell and buy side relationship
-Ensure our team is always accessible; collaboration with clients nurtures our collective success

Cross-Asset & Quantitative Research

Cross Asset Strategy

The S&amp;P 500 has been rising steadily since late February. As the stock market advanced, readings became increasingly overbought. The S&amp;P 500 has spent two consecutive weeks above its weekly Bollinger Band (BB). Past upper BB episodes have tended to be signals of positive momentum that led to further gains. The market spent several months on an upper BB ride in late 2017 and early 2018 before it finally topped out.It appears the S&amp;P 500 is undergoing another melt-up, with a blow-off top ahead. In the past, overruns of a rising trend line have been signals of an imminent blow-off top that lasts no more than two weeks.Despite our near-term caution, we expect any pullback to be no more than 5–10%. This is still a bull market. Both the Dow Jones Industrials and Transports have achieved fresh all-time highs, which are classic Dow Theory buy signals.Investors should view any weakness as buying opportunities. Traders should be positioned for a possible blow-off top, followed by a sharp pullback.

The S&amp;P 500 has been rising steadily since late February. As the stock market advanced, readings became increasingly overbought. The S&amp;P 500 has spent two consecutive weeks above its weekly Bollinger Band (BB). Past upper BB episodes have tended to be signals of positive momentum that led to further gains. The market spent several months on an upper BB ride in late 2017 and early 2018 before it finally topped out.It appears the S&amp;P 500 is undergoing another melt-up, with a blow-off top ahead. In the past, overruns of a rising trend line have been signals of an imminent blow-off top that lasts no more than two weeks.Despite our near-term caution, we expect any pullback to be no more than 5–10%. This is still a bull market. Both the Dow Jones Industrials and Transports have achieved fresh all-time highs, which are classic Dow Theory buy signals.Investors should view any weakness as buying opportunities. Traders should be positioned for a possible blow-off top, followed by a sharp pullback.

A Blow-Off Top Ahead?