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

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical Analysis

Energy Select Sector SPDR Fund / Technical Analysis

<ul>
<li>We remain bullish (as of our 4/21/26 Compass) on the S&amp;P 500 (SPX), Nasdaq 100 (QQQ), and Russell 2000 (IWM).</li>
<li>50-Day MAs have held on SPX and QQQ, but we are concerned of a prolonged consolidation -- particularly as crude oil, gasoline (UGA), and Energy (XLE) appear to have bottomed.</li>
<li>QQQ/Technology remains our primary concern; we continue to believe a consolidation through mid-to-late-August is likely amid ongoing choppy price action for semiconductors (SOXX), memory (DRAM), and optical equipment/photonics (EUV) names</li>
</ul>


We remain bullish (as of our 4/21/26 Compass) on the S&amp;P 500 (SPX), Nasdaq 100 (QQQ), and Russell 2000 (IWM).
50-Day MAs have held on SPX and QQQ, but we are concerned of a prolonged consolidation -- particularly as crude oil, gasoline (UGA), and Energy (XLE) appear to have bottomed.
QQQ/Technology remains our primary concern; we continue to believe a consolidation through mid-to-late-August is likely amid ongoing choppy price action for semiconductors (SOXX), memory (DRAM), and optical equipment/photonics (EUV) names


Energy (XLE), Crude Oil, and Gasoline Prices Climbing; A Bull Market Until Proven Otherwise