Vermilion Int'l Compass: Global Equity Strategy
5+ Month Uptrend Support Holding on MSCI ACWIWe 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), with Int'l Compass reports all echoing this sentiment. We will maintain our bullish intermediate-term view as long as market dynamics remain healthy and the SPX and ACWI-US are above 6028-6059 and $125-$126. Our bullish near-term outlook will remain in place as long as the 5+ month uptrend continues on ACWI-US. So far, the latest pullback is testing the uptrend -- buy/stay long. Short-term supports to watch on ACWI-US include the 5+ month uptrend (currently at $136), $134-$134.50, $131.50-$132, $130, $128, and $125-$126. Market dynamics remain largely risk-on, leading us to remain bullish and we continue to expect more upside into year-end and the early part of 2026.
Remain Overweight Taiwan, China, Korea, and the U.S. Our four country overweights include Taiwan (TAIEX), China (Shanghai Composite), Korea (KOSPI), and the U.S. (S&P 500). Most of our top ideas are within these countries. With that said, we are buying the test of 7-month base support in Europe (EURO STOXX 50), as RS is reversing above its 5-month downtrend. China's Shanghai Composite had a false breakout last week, but after collecting itself and shaking out any breakout buyers, all signs point to a second breakout attempt above 1.5-month resistance that is likely to succeed -- buy/stay long... see page 2.
Emerging Markets Overview. We remain bullish on EM with the 5+ month uptrend intact on MSCI Emerging Markets (EEM-US). We expect support at the uptrend and 50-day MA, and also $52.35. Taiwan, China, and Korea remain our favorite EM countries to be buying/overweight. In terms of Sectors, MSCI EM Technology and Materials are our favorites to be buying/overweight.
Actionable Themes: Technology, Industrials, and Materials. Technology remains global leadership -- remain overweight. Industrials and Materials are leading within Korea and China, and are also emerging as leadership within Europe -- add exposure...
Auras Technology Co.,Ltd.. AURAS Technology Co., Ltd. is a Taiwan-based company engaged in the manufacture, processing and distribution of computer cooling modules. The Company's cooling modules, which consist of radiator fans, cooling plates and heat pipes, are applied to notebook computers, desktop computers and other information electronic products. The Company distributes its products within the domestic market and to overseas markets, including the rest of Asia, Europe and the Americas.
Best Mart 360 Holdings Ltd. Best Mart 360 Holdings Limited is an investment holding company mainly engaged in the operation of leisure food chain retail stores. The Company mainly supplies imported prepackaged leisure foods and other grocery goods, including packaged bakery products and snacks, confectioneries, nuts and dried fruits, beverages and wines, grains and other miscellaneous foods, personal care products, baby foods and products, health foods and supplements, and miscellaneous household items. Miscellaneous household items include cleaning agents, table ware and rain gear. The Company mainly operates chain retail stores under the brand name of Best Mart 360.
Open Text is a provider of a suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. In addition, Co. provides solutions that facilitate the exchange of information and transactions between supply chain participants, such as manufacturers, retailers, distributors and financial institutions. Co. provides software through on-premise solutions, cloud solutions or a combination of both on-premise and cloud solutions. Co.'s enterprise information management offerings include: content services, business process management, customer experience management, discovery, business network, and analytics.
SPORTON INTERNATIONAL INC. is a Taiwan-based company principally engaged in the provision of testing and certification services for wireless communications and mobile communications products. The Company's primary products and services include the detecting, testing and reports issuing on electromagnetic interference (EMI) and electromagnetic suspension (EMS), the field testing of open sites and chambers, product safety testing and regulation, network communications products testing, mobile phone testing, debugging and diagnosing of electromagnetic compatibility (EMC), as well as the digital television performance testing, among others. The Company is also engaged in the trading of electronic components. The Company mainly operates its businesses in Asia, the Americas and Europe.
Vermilion Research delivers timely, actionable, and unique research inputs to professional investors. Our research strategists highlight securities which we believe are at major inflection points, based on our various proprietary technical indicators, and offer asymmetric risk/return profiles. We believe our research methodology, which is not limited by industry sector or market capitalization, enables us to deliver superior investment recommendations.
Our process begins by organizing all actively traded stocks into coherent sectors, then into logical industry groups. We then apply our proprietary relative strength tools to identify developing price trends. Once attractive trends are identified within a selected sectors or groups, we screen for individual stocks which we believe offer the best risk/reward profile. Vermilion offers U.S. and global equity market research products. Vermilion’s research team, which has received numerous awards and accolades, has a combined 70 year of experience in the analysis of investment securities.
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