Vermilion Macro Vision: Sector Synopsis
STRATEGYWe maintain our near-term bullish outlook on the S&P 500 (SPX), Nasdaq 100 (QQQ), and Russell 2000 (IWM), which has remained in place since 4/22/25, aside from one week (11/19/25-11/25/25) when we flipped to neutral. Our intermediate-term bullish outlook has been in place since our 5/14/25 Compass. We will stay near-term bullish as long as crucial support levels of 6480-6520 on SPX, $580-$583 on QQQ, and $245 on IWM continue to hold. We will maintain our bullish intermediate-term view as long as market dynamics remain constructive and the SPX is above 6200. Supports to watch on SPX include 6800 (testing now), 6770-6775, 6480-6520, 6450, 6400-6410, 6340-6360, 6290, and 6200.
We are starting to see evidence of rotations out of Technology/speculative growth and into value areas of the market, and we are upgrading Financials (XLF) and Transportation (IYT) to market weight. Consumer Discretionary (XLY) and Industrials (XLI) are also seeing notable improvement. This is a broadenin
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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