reports
- Dave Nicoski
- Ross LaDuke
Vermilion ETF Pathfinder: Actionable ETF research & Ideas
Market at key inflection point, still vulnerable We remain cautious with an overall neutral outlook as indicators continue to send mixed signals. By and large, new developments have been negative, but many areas we often look to in order to gauge risk sentiment - which also give us clues to where the market is likely headed next - are testing important support levels. • Negative developments. Several negative developments support our belief that the market may be poised for further weakness,...
EWC ISHARES MSCI CANADA ETF
CARZ FIRST TRUST NASDAQ GLOBAL AUTO INDEX FUND
EWN ISHARES MSCI NETHERLANDS ETF
XLP SELECT SECTOR SPDR-CONSUMER STAPLES
XLY SELECT SECTOR SPDR-CONSUMER DISCRETIONARY
XLF SELECT SECTOR SPDR-FINANCIAL
XLI SELECT SECTOR SPDR-INDUSTRIAL
XLK SELECT SECTOR SPDR-TECHNOLOGY
XLRE REAL ESTATE SPDR
XLU SELECT SECTOR SPDR-UTILITIES
ENZL ISHARES MSCI NEW ZEALAND CAPPE
ERUS BLACKROCK INSTITUTIONAL TRUST COMPANY N.A.
EFA ISHARES TRUST MSCI EAFE INDEX FUND
XAR SPDR S&P AEROSPACE AND DEFENSE FUND
A2AMMR PUREFUNDS ISE MOBILE PAYMENTS ETF
VWO VANGUARD FTSE EMERGING MARKETS
XLC THE COMMUNICATION SERVICES SELECT SECTOR SPDR FUND
SIL GLOBAL X SILVER MINERS ETF
RYT INVESCO S&P 500 EQUAL WEIGHT TECHNOLOGY ETF
RYH INVESCO S&P 500 EQUAL WEIGHT HEALTH CARE ETF
RTM INVESCO S&P 500 EQUAL WEIGHT MATERIALS ETF
EUFN ISHARES MSCI EUROPE FINANCIALS
RYF INVESCO S&P 500 EQUAL WEIGHT FINANCIALS ETF
RYE INVESCO S&P 500 EQUAL WEIGHT ENERGY ETF
TAN INVESCO SOLAR ETF
- Dave Nicoski
- Ross LaDuke
Vermilion ETF Pathfinder: Actionable ETF research & Ideas
Upgrading Communications and Energy We remain positive on U.S. and foreign equities and we are encouraged by recent developments highlighted below which are primarily of the bullish variety. • Upgrades: We are upgrading Comm. Services (XLC) to overweight and equal-weighted Energy (RYE) to market weight due to an RS breakout for the XLC and bullish RS reversals for several energy ETFs (RYE, XOP, IEO). Add exposure. See charts below and Sector comments on pages 4-5 for actionable ideas. • A...
EEM ISHARES MSCI EMERGING MARKETS ETF
EWL ISHARES MSCI SWITZERLAND CAPPE
CARZ FIRST TRUST NASDAQ GLOBAL AUTO INDEX FUND
EWO ISHARES MSCI AUSTRIA CAPPED ET
EWQ ISHARES MSCI FRANCE ETF
MCHI.. ISHARES MSCI CHN
XLP SELECT SECTOR SPDR-CONSUMER STAPLES
XLY SELECT SECTOR SPDR-CONSUMER DISCRETIONARY
XLF SELECT SECTOR SPDR-FINANCIAL
XLI SELECT SECTOR SPDR-INDUSTRIAL
XLK SELECT SECTOR SPDR-TECHNOLOGY
XLRE REAL ESTATE SPDR
XLU SELECT SECTOR SPDR-UTILITIES
SMH MARKET VECTORS SMEICONDOUCTOR ETF
EFA ISHARES TRUST MSCI EAFE INDEX FUND
XOP SPDR S&P OIL & GAS EXPLORATION ETF
KRE. SPDR KBW REGIONAL BANKING ETF
KCE SPDR KBW CAPITAL MARKETS ETF
EWH ISHARES MSCI HONG KONG ETF
IEO ISHARES U.S. OIL & GAS EXPLORA
KBE SPDR KBW BANK ETF
XHB SPDR S&P HOMEBUILDERS ETF
VEA VANGUARD FTSE DEVELOPED MARKETS ETF
VWO VANGUARD FTSE EMERGING MARKETS
RCD INVESCO S&P 500 EQUAL WEIGHT CONSUMER DISCRETIONARY ETF
XLC THE COMMUNICATION SERVICES SELECT SECTOR SPDR FUND
RYT INVESCO S&P 500 EQUAL WEIGHT TECHNOLOGY ETF
RYH INVESCO S&P 500 EQUAL WEIGHT HEALTH CARE ETF
RTM INVESCO S&P 500 EQUAL WEIGHT MATERIALS ETF
EUFN ISHARES MSCI EUROPE FINANCIALS
GREK GLOBAL X MSCI GREECE ETF
RYF INVESCO S&P 500 EQUAL WEIGHT FINANCIALS ETF
RYE INVESCO S&P 500 EQUAL WEIGHT ENERGY ETF
A14MTT ISHARES CURRENCY HEDGED MSCI GERMANY ETF
- Dave Nicoski
- Ross LaDuke
Vermilion Compass: Weekly Equity Strategy
The good outweighs the bad Our checklist of bullish indicators continues to grow as equal-weighted Financials (RYF), global Financials (IXG), global autos (CARZ), and the Dow Jones Transportation Average (IYT) are each decisively breaking topside critical resistance levels. These developments have led us to be incrementally more bullish. At the same time, biotech has succumbed to weakness within Health Care -- a point for the bears as it is one aspect that puts a damper on risk sentiment. Overa...
STT STATE STREET CORPORATION
KMX CARMAX INC.
NCR NCR CORPORATION
UNH UNITEDHEALTH GROUP INCORPORATED
SEIC SEI INVESTMENTS COMPANY
LEA LEAR CORPORATION
LAD LITHIA MOTORS INC. CLASS A
IVZ INVESCO LTD.
GPI GROUP 1 AUTOMOTIVE INC.
FIS FIDELITY NATIONAL INFORMATION SERVICES INC.
ETN EATON CORP. PLC
CRMT AMERICA'S CAR-MART INC.
BWA BORGWARNER INC.
ARCC ARES CAPITAL CORPORATION
AN AUTONATION INC.
AMP AMERIPRISE FINANCIAL INC.
AMG AFFILIATED MANAGERS GROUP INC.
ALV AUTOLIV INC.
AG31 APOLLO GLOBAL MANAGEMENT INC. CLASS A
MG/CN MAGNA INTERNATIONAL INC.
BX BLACKSTONE GROUP INC.
FHI FEDERATED HERMES INC. CLASS B
LM LEGG MASON INC.
LPLA LPL FINANCIAL HOLDINGS INC.
GDX VANECK VECTORS GOLD MINERS ETF
TROW T. ROWE PRICE GROUP
WPC W. P. CAREY INC.
TYIA JOHNSON CONTROLS INTERNATIONAL PLC
JHG JANUS HENDERSON GROUP PLC
APTV APTIV PLC
CARZ FIRST TRUST NASDAQ GLOBAL AUTO INDEX FUND
XLV SELECT SECTOR SPDR-HEALTH CARE
ADNT ADIENT PLC
IHF ISHARES U.S. HEALTHCARE PROVID
A2AHFT MARKET VECTORS JUNIOR GOLD MINERS ETF
RYH INVESCO S&P 500 EQUAL WEIGHT HEALTH CARE ETF
RYF INVESCO S&P 500 EQUAL WEIGHT FINANCIALS ETF
IXG ISHARES GLOBAL FINANCIALS ETF
STTX STRATEX OIL & GAS HOLDINGS
- Dave Nicoski
- John Betz
- Shelley Moen
Vermilion ETF Pathfinder: Actionable ETF research & Ideas
Technicals support an emerging inflation trade U.S. Equities • Bullish Big Picture. Long-term trends, though arguably extended, have yet to depict signs of deterioration. We remain bullish for a variety of reasons, ranging from: (1) cyclical sector leadership; (2) weakness in defensive sectors, where utilities and staples are breaking down to 12+ month relative strength lows; (3) confirming points 1 and 2, the Consumer Discretionary/Staples ratio (XLY/XLP), a barometer of risk appetite levels...
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