- S&P 500 companies are on track to grow Q3 earnings 29.5% year over year, the fundamental driver behind the index's record highs.
- Nasdaq 100 (QQQ) and Technology (XLK) are breaking out of four-month bases, which Vermilion Research calls a very bullish sign while $745 and $197 supports hold on pullbacks.
- Vermilion stays bullish on the S&P 500 (SPX) as long as 7507-7580 support holds, and flags a potential upgrade of Technology to overweight.
- Vermilion downgraded consumer staples to underweight while keeping its bullish stance on Technology and AI areas including XLK, SOXX and DRAM.
引述
“S&P 500 companies are on track to increase third-quarter earnings by 29.5% year over year.”
“We remain bullish (as of our 4/21/26 Compass) on the S&P 500 (SPX), and we will stay that way as long as support at 7507-7580 holds.”
“The Nasdaq 100 (QQQ) and the XLK are both breaking out of their 4-month bases, a very bullish sign as long as $745 and $197 supports hold on any pullbacks.”