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: 11-05-2025
PRISM currently identifies that none of the Asset Classes show a Positive/Bullish reading across all four time periods.
Key Observations
Emerging Markets (EEM)
EEM continues to show strength across the Short- through Long-Term timeframes. However, on the Micro-Term, we’re seeing some early weakness in both Price and Asset Flows. Short-Term trends are also being tested across Price, Relative Performance, and Asset Flows — with EEM sitting right on its 21-day moving average at $54.57. The next key support level exists at the 50-day moving average, currently at $53.33.
US Technology (QQQ)
US Technology is currently Negative in the Micro-Term, and — like EEM — is also testing Short-Term trend support at its 21-day moving average. If broken, the next support level is an additional 2.1% lower at 599.74, the current location of the 50-day moving average, which has closely defined the current advance in QQQ since May 1st. QQQ has maintained a stable, nearly lockstep positive linear correlation with the S&P 500 (SPY) over the past 25 years, so as QQQ goes from here, so is likely to go the US broad market.
US Dollar (UUP) & Commodities (DBC)
Both the US Dollar and broad Commodities are showing strength in the Micro and Short-Term timeframes. In UUP, initial underlying support is just below the market at $27.88. DBC is particularly notable because Price and Asset Flows are Green across all four time periods, but Medium-Term Relative Performance is now being challenged. Initial support in DBC exists 1.2% below the market at $22.55 and represents the Oct 20th low and the 21- and 50-day moving averages.
Key Takeaways
The Prism Report is highlighting Micro-Term weakness this week, with multiple asset classes now testing critical Short-Term trend support levels. Combined with GBTC reading Bearish across the board, this suggests a noticeable cooling of risk appetite. Commodities emerging as leadership is consistent with investors seeking non-equity correlated returns. Keep an eye on AGG — currently Yellow across the board. A move to Green would indicate bonds are starting to outperform stocks, which historically aligns with risk aversion and stock market declines. The Asbury 6 remains Negative as of Nov 4th. As the S&P 500 negotiates its own 50-day moving average, monitor the Correction Protection Model (CPM) closely for a potential confirmation of Asbury 6 weakness.
About PRISM
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.