Vermilion ETF Pathfinder: Actionable ETF research & Ideas
Little Reason to be Bearish YetBreadth has improved since our last ETF Pathfinder (5/30/23), and the S&P 500 is 2% above the 4300-4325 area which we anticipated would cap upside for 2023. While it is unsurprising to see even our most bullish target surpassed during a blowoff stage, our stance since our 5/30/23 ETF Pathfinder has been that we cannot be bearish if the S&P 500 is above 4050, and we have subsequently moved that line-in-the-sand up to 4165-4200. 4300 is now short-term support to watch, and a break below it could bring selling pressure. Structurally higher core inflation and strong employment data suggests the Fed will need to continue hiking rates.
Downgrading Staples. In our 5/31/23 Compass we downgraded Consumer Staples (XLP) to underweight with RS breaking below 1+ year support. There are still several names we like that can provide protection
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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