Vermilion Macro Vision: Sector Synopsis
STRATEGYWe are upgrading our outlook on the S&P 500 from neutral to bullish following last week's weekly close above 5783. We previously downgraded our outlook to neutral in our 8/6/24 Compass, after being bullish since early-November 2023, noting that we expected a 1- to 4-month consolidation phase with support coming-in at 5100-5191. Since late-August we have expected 5670-5783 to cap upside on the S&P 500, noting that we would go where the market takes us, i.e., upgrade to bullish on a breakout above 5783, or downgrade to bearish on a breakdown below 5100. Considering market dynamics have become much more constructive, we are listening to what the market is telling us, and we are upgrading our outlook to bullish. We would treat any pre-election pullback as a buying opportunity, as long as the SPX holds above 5670.
Part of the reason why we are comfortable upgrading our outlook to bullish is that several defensive Sectors are no longer outperforming. Specifically, it is becoming cle
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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