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 identify where capital is being rewarded—quickly and clearly.

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 down the middle of the Research Center, listed chronologically with other reports like Keys To This Week.  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.

US Technology and Crypto currently have a bullish reading across all four monitored time frames.

Key Observations
  • US Technology (QQQ): Technology is back to full green, reaching a new all-time high of $556.25 on July 9th. This new high further extends a strong uptrend that began on April 7th.   QQQ has risen by 39% since then, driven by expanding asset flows while outperforming the benchmark S&P 500 (SDPY) by 7%. 
  • Grayscale Bitcoin Trust (GBTC): GBTC remains fully green and continues to test all-time highs. However, unlike QQQ, has been underperforming SPY since May 23rd and is beginning to show signs of a sideways trading range across all three categories (relative performance, price, and assets under management).
  • US Small Cap (IWM): Small Cap continues its uptrend as it approaches overhead resistance at $230.70.  Although IWM is currently lagging in long-term relative performance, this isn’t a cause for concern as Small Cap is showing strength across all other timeframes and metrics.
  • Global Equities ex-US (SPDW) & Commodities (DBC): SPDW is testing its mid-June all-time high, reflecting continued global appetite for equities. PRISM indicates a micro trend of outperformance, but longer-term trends have yet to develop. DBC has edged back above its 200-day moving average but is locked within a one-year trading range, underperforming across all timeframes except for the micro trend. 
Takeaway


PRISM is showing a clear bias toward equities and risk assets, with strong trends in Small Cap, US Technology, and Bitcoin. Tech and Bitcoin are testing all-time highs.  

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 gives investors a dynamic lens through which to view the market in a multi-dimensional 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.