Int'l Macro Vision: International Equity Strategy
Int'l Equity Strategy: Bullish Big PictureEconomic data finally confirms what the charts have been saying all year: global growth in the major regions is now in sync. How timely. Given that the market's advance is grounded in reality, what do technicals suggest is next for global equities?
In short, more of the same—but different.
We see the bullish advance in equities continuing well into 2018, a continuation of a long-term trend. However, the Sectors that propel this trend may be different.
While 2016's leaders—namely, growth, especially Technology—encountered a hiccup in recent weeks, their uptrends remain intact. That said, we see an expansion of leadership into value-related Sectors and Groups, including Financials and Energy. These segments exhibit less “exploited†chart patterns and timelier entry points. In our December International Strategy, we explore these and the following themes in further detail:
• Overweight Japan.
• Cyclicals continue to lead, defensive continues to lag.
• Actionable Sector/Group themes:
1. Global banks are breaking out/bullishly inflecting.
2. Energy is bottoming – still a non-consensus view.
3. Pullback opportunity in metals & mining.
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Alcoa is a vertically integrated aluminum company comprised of bauxite mining, alumina refining, aluminum production (smelting, casting, and rolling), and energy generation. Through direct and indirect ownership, the company has 30 operating locations in nine countries around the world, situated primarily in Australia, Brazil, Canada, Iceland, Norway, Spain, and United States.
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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