Conclusion, Investment Implications, Strategy

Table 1 below shows that, as of the close yesterday September 17th, 5 of our Asbury 6 key internal market metrics have moved back to Negative, afer turning Positive on September 16th.

The recent atypical volatility in the Asbury 6’s day-to-day movement indicates that six unrelated market metrics, five which are not based on stock prices, are all at balance points between Positive and Negative readings.  These individual balance points very seldom all occur at the same time like they are now.  This suggests an inflection point from which the next significant directional stock market move, up or down, is likely to begin. 

Feel free to call us for further clarification on current market conditions.

Table 1

 

The chart below highlights the Asbury 6’s directional signals since late 2018
Click the table to make it larger.

 

Four or more metrics in one direction, either Positive (green) or Negative (red), indicate a tactical bias.  The dates in each cell indicate when each individual constituent of the A6 turned either positive (green) or negative (red).  When all Asbury 6 are positive, market internals are the most conducive to adding risk to portfolios. Each negative reading adds an additional element of risk to participating in current or new investment ideas.