Conclusion, Investment Implications, Strategy

Table 1 below shows that, as of the close yesterday September 16th, 5 of our Asbury 6 key internal market metrics have turned Positive.

Table 1

 

Editor’s Note:  The recent volatility in the Asbury 6’s day-to-day movement is an indication that the US stock market is at an important Tactical decision point, from which its next significant directional move — up or down — is likely to begin.

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.