Vermilion ETF Pathfinder: Actionable ETF research & Ideas
Upgrading Utilities; Downgrading Communication ServicesWe remain bullish following breakouts on the S&P 500 and Nasdaq 100 from their bullish falling wedge patterns. The Russell 2000 (IWM) has also broken above key $160 resistance. Additionally, market dynamics remain largely positive and are conducive to an ongoing bull market. Buy dips.
· Key Levels. Short-term support levels to watch include $342.50 & $331 on the S&P 500 (SPY) and $283 & $273 on the Nasdaq 100 (QQQ); as long as these levels hold, a bullish outlook is appropriate. Additionally, the Russell 2000 (IWM) broke above $160 resistance to hit highs not seen since February, and $159-160 is now short-term support on the IWM...
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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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