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 and Quantitative Research

Breakouts Just Keep Coming; Upgrading Materials to Market Weight; Still Bullish. Buys: ALB, ATI ++

Reason for Near-Term Caution? 10Y Treasury Yield Above 4.20%; Upgrading Energy and Staples

Chop Continues; Nasdaq 100 Breaking Above Major Resistance; Speculative Leaders Wobbling

Rising Yields a Problem?; Russell 2000 Breakout; No Concern if 10Y Treasury Yield Is Below 4.2%

Back to Near-Term Bullish on SPX and Nasdaq 100; Supports Held at SPX 6480-6520 and QQQ $580-583

New Lockout Rally Underway on SPX, QQQ, and IWM? Yes. Here Is Why. Still Bullish

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical Analysis

<ul>
<li>We maintain our near-term bullish outlook on the SPX, Nasdaq 100 (QQQ), and Russell 2000 (IWM), in place since 4/22/25, aside from one week when we flipped to neutral.</li>
<li>We will stay near-term bullish as long as crucial support levels of 6480-6520 on SPX, $580-$583 on QQQ, and $245 on IWM continue to hold.</li>
<li>Signs of impending upside are evident with the Russell 2000 and many Sectors/areas of the market breaking out (more on that below).</li>
</ul>


We maintain our near-term bullish outlook on the SPX, Nasdaq 100 (QQQ), and Russell 2000 (IWM), in place since 4/22/25, aside from one week when we flipped to neutral.
We will stay near-term bullish as long as crucial support levels of 6480-6520 on SPX, $580-$583 on QQQ, and $245 on IWM continue to hold.
Signs of impending upside are evident with the Russell 2000 and many Sectors/areas of the market breaking out (more on that below).


iShares U.S. Aerospace & Defense ETF (ITA US)

Breakouts Continue: IWM, ARKK, SMH, URA, EEM, WGMI, NLR; Upgrading Discretionary to Market Weight

Russell 2000 Index

Breakouts Continue: IWM, ARKK, SMH, URA, EEM, WGMI, NLR; Upgrading Discretionary to Market Weight