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

Downgrading Germany and Ireland; Global Technology Still Leading; Crucial Base Supports Holding

China and Japan Breaking Out -- Buy; Bullish Outlook Intact; U.S. Dollar (DXY) Remains Weak

Continue Adding Exposure to China; Short-Term Supports to for This ACWI-US Pullback

Invest As If the Lows Are In; EURO STOXX 50 and TOPIX Reclaim Key Levels

MSCI ACWI (ACWI-US) Testing All-Time Highs; Buy Pullbacks to $120-$121 or $115 Supports. Many Buys

MSCI ACWI Coiling Under All-Time Highs; Buying Korean Financials; Monitoring Europe for Downgrade

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical Analysis

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).</li>
<li>We will maintain our bullish view as long as market dynamics remain healthy and the SPX and ACWI-US are above 5700-5785 and $120-$121 (up from 5500 and $115).</li>
<li>We are upgrading Korea(KOSPI) to overweight; we discussed May 30 several Financials and other stocks to buy. KOSPI has exploded higher since, and is now reversing its 2-year RS downtrend.</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).
We will maintain our bullish view as long as market dynamics remain healthy and the SPX and ACWI-US are above 5700-5785 and $120-$121 (up from 5500 and $115).
We are upgrading Korea(KOSPI) to overweight; we discussed May 30 several Financials and other stocks to buy. KOSPI has exploded higher since, and is now reversing its 2-year RS downtrend.


Shenzhen Salubris Pharmaceuticals A (002294 CH)

The United Laboratories International Holdings Limited (3933 HK)

The United Laboratories International Holdings Limited

Korea Stock Exchange Kospi Index (KOSPI INDEX)

Tencent Music Entertainment Group (1698 HK)

한국을 과대평가로 상향 조정; MSCI ACWI 및 신흥시장 돌파

Kakaopay

한국을 과대평가로 상향 조정; MSCI ACWI 및 신흥시장 돌파