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

Supports Starting to Break; Upgrading Non-U.S. Small-Caps to Overweight; Transports/Comm/HC Buys

MSCI ACWI, MSCI EM Still Above Supports; Buys in Global Value - Financials and Communications

Remain Overweight and Add Exposure to Japan; Buys in Insurance, Services, Tech, Staples, Utilities

Remain Overweight Japan and India; Key Supports Holding; Buys in Energy, Tech/Services (India)

Further Declines in DXY, Sovereign Yields May Provide More Fuel for a Rally in Global Equities

Key Supports Holding Strong; 10-Year Treasury Yield Below Key Resistance; Buys in Non-Defensives

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical Analysis

<ul>
<li>Our overall outlook remains largely unchanged; we remain bullish on global equities as long as the MSCI ACWI (ACWI-US) is above major $93 support.</li>
<li>We also discussed that if the 10-year Treasury yield remains below 4.35% and the DXY is below $105.70, we would continue to expect $93 support on ACWI-US to hold.</li>
<li>The 10-year Treasury yield is attempting to break above 4.35% and this could create a problem for ACWI-US; we will continue to monitor closely.</li>
</ul>


Our overall outlook remains largely unchanged; we remain bullish on global equities as long as the MSCI ACWI (ACWI-US) is above major $93 support.
We also discussed that if the 10-year Treasury yield remains below 4.35% and the DXY is below $105.70, we would continue to expect $93 support on ACWI-US to hold.
The 10-year Treasury yield is attempting to break above 4.35% and this could create a problem for ACWI-US; we will continue to monitor closely.


Samsung Fire & Marine Insurance (000810 KS)

NTT (Nippon Telegraph & Telephone) (9432 JP)

Korea Investment Holdings Co, Ltd. (071050 KS)

Overweight Value Within Global Ex-U.S. Equities; DXY Below $105.70; Buys in Global Value

Stellantis NV

Overweight Value Within Global Ex-U.S. Equities; DXY Below $105.70; Buys in Global Value