Vermilion Macro Vision: Sector Synopsis
STRATEGYSince early-July (7/3/23 ETF Pathfinder, 7/18/23 Compass) we have discussed that we would need to see a break below 4300-4325 on the S&P 500 in order to shift to a defensive posture. We continue to believe that 4300-4325 will act as major support moving forward, and we are constructive as long as the S&P 500 is above 4300-4325. As initially discussed in our 8/29/23 Compass, we would not be surprised to see another month+ (i.e., through the end of September, and possibly longer) of consolidation between 4325 and 4600. We are also monitoring a 2-month triangle consolidation pattern on the SPX, where resistance is currently 4510-4515 and support is 4425-4430; a break in either direction is likely to result in a powerful move.
Several other indexes/Sectors continue to hold above major 1-2-year price supports (in addition to 4325 on the S&P 500). This includes 34,280 on the Dow, $93 on MSCI ACWI (ACWI), $28 on equal-weighted Technology (RSPT), $163 on cap-weighted Technology (XLK
ConocoPhillips is an exploration and production company engaged in exploring for, producing, transporting and marketing crude oil, bitumen, natural gas, liquefied natural gas and natural gas liquids. The company's segments include: Alaska, which operates in Alaska; Lower 48, which operates in the United States and the Gulf of Mexico; Canada, which operates in Alberta and British Columbia; Europe and North Africa, which consists of operations and exploration activities in Norway, the United Kingdom and Libya; Asia Pacific and Middle East, which operates in China, Indonesia, Malaysia, Australia, Qatar, and Timor-Leste; and Other International, which operates in Colombia, Chile and Argentina.
Exxon Mobil operates or markets products in United States and other countries through its divisions and affiliated companies. The company's business involves exploration for, and production of, crude oil and natural gas and manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals and other products. In United States, the company's development activities are focused on the onshore United States, in the Permian Basin of West Texas and New Mexico and the Bakken oil play in North Dakota. Gas development activities are also focused on the Marcellus Shale of Pennsylvania and West Virginia, the Utica Shale of Ohio and the Haynesville Shale of East Texas and Louisiana.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.