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

As a chartist, it’s easy to be bearish. After all, the market is experiencing numerous negative breadth divergences and signs of excessive bullish sentiment. Beneath the surface, however, the technical condition of the market can better be described a “glass half full or half empty” dilemma.We continue to believe the market has bifurcated into two distinct markets — value and growth. In aggregate, it’s difficult to make much of a judgment about the direction of the S&amp;P 500 owing to the divided nature of market internals. The internal rotation is continuing and value is poised to gain the upper hand.Short-term breadth and sentiment readings indicate that a rebound is likely, but the bulls shouldn't bring out the champagne just yet as the market could just be at the bottom of a trading range. Until we see a definitive bullish or bearish catalyst, our base case calls for a sideways market with a possible minor upward bias.

As a chartist, it’s easy to be bearish. After all, the market is experiencing numerous negative breadth divergences and signs of excessive bullish sentiment. Beneath the surface, however, the technical condition of the market can better be described a “glass half full or half empty” dilemma.We continue to believe the market has bifurcated into two distinct markets — value and growth. In aggregate, it’s difficult to make much of a judgment about the direction of the S&amp;P 500 owing to the divided nature of market internals. The internal rotation is continuing and value is poised to gain the upper hand.Short-term breadth and sentiment readings indicate that a rebound is likely, but the bulls shouldn't bring out the champagne just yet as the market could just be at the bottom of a trading range. Until we see a definitive bullish or bearish catalyst, our base case calls for a sideways market with a possible minor upward bias.

A Glass Half Full, or Half Empty?