The PRISM Report: A Clearer View of Global Investment Trends

The Prism Report is your streamlined, data-driven guide to uncovering opportunities across global markets and asset classes. Built around Asbury Research’s foundational “three-legged stool” approach of trend, relative performance, and asset flows, this tool offers a concise and comprehensive way to quickly and clearly identify where capital is being rewarded.

PRISM, which stands for Portfolio Review of Investment Sectors and Markets, is published at the end of the week.  You can find the PRISM Report right in the middle of the Research Center, listed chronologically with other reports, such as Keys to This Week and The Weekly Wrap-Up.  You can pull up all recently published PRISM Reports by typing “PRISM” in the Search By Keyword box located on the right border of the Research Center.

PRISM currently identifies Gold, Small Cap, and Emerging Markets as having a Positive/Bullish reading across all four time periods. 

Prism 01222026

PRISM: 01-21-2026

Key Takeaways

The PRISM Report continues to show Gold, Small Caps, and Emerging Markets with bullish readings across all four time frames. Global Equities have shifted to yellow on the Micro term, driven by a recent deceleration in asset flows; however, this has not yet developed into a broader trend.

Commodities are also exhibiting relative strength as investors rotate away from Big Cap Technology. This rotation helps explain the recent sideways movement in the broader S&P 500.

At the same time, Small Cap stocks are making fresh all-time highs, signaling constructive expectations for domestic economic growth and an overall positive outlook for the economy.

 

At the heart of Prism is a simple but critical formula for success: positive price trend, positive relative performance, and positive asset flows. These three factors—trend, performance, and conviction—are the cornerstones of identifying sustainable market leadership.

We’ve expanded this concept across four key time frames:

  • Micro (7 days)
  • Short (21 days)
  • Medium (63 days)
  • Long (200 days)

This multi-horizon approach provides investors with a dynamic lens through which to view the market in a multidimensional way. Why does this matter?

  • Trend: If the price isn’t appreciating, we’re not interested. Positive price momentum is non-negotiable.
  • Relative Performance: If it isn’t beating the S&P 500, there’s an opportunity cost. Investors deserve better than average performance.
  • Asset Flows: Capital inflow indicates directional conviction—real money moving with purpose. It’s the ultimate vote of confidence from institutional players with skin in the game.