Vermilion ETF Pathfinder: Actionable ETF research & Ideas
Defensive Sectors Improving; Small-Caps WeakeningWe are beginning to get some signals which suggest the market is entering a more mixed environment. These signals include RS improvement for defensive Sectors, RS deterioration for small-caps, and the US dollar breaking above 92. Despite this mild deterioration in market dynamics, the weight of the evidence remains positive and our outlook remains constructive for the weeks and months ahead.
· S&P 500, Russell 2000. The S&P 500 remains constructive as it holds above support at the prior downtrend which is currently in the 3840-3853 range. If this level fails to hold, the next support comes in at the uptrend (3760-3770 range); as long as this support holds our outlook remains positive. Mild RS deterioration for small-caps (IWM) is a concern, however with recent substantial outperformance it can be viewed as a sign of a healthy rotation. $207-208 is key support to watch on the IWM.... see chart below and page 2.
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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