Editor’s Note: On April 17th, we first introduced the PRISM Report to Asbury Research Subscribers.  PRISM is an acronym for Portfolio Review of Investment Sectors and Markets.  The PRISM Report is currently published at the end of the week.  Your 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 in the right border of the Research Center.

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, this tool offers a concise and comprehensive way to identify where capital is being rewarded—quickly and clearly.

Asset classes with bullish readings across all four monitored time frames are US Technology, Emerging Markets & Crypto.

Key Observations

  • U.S. Technology (QQQ): The recent pause is over as Tech has broken out to all-time highs, pushing through former resistance at QQQ $539.15.  Price momentum is strong, but we have yet to see a new high in relative performance versus the benchmark S&P 500. That relative performance extremes, set in July 2024, needs to be cleared before we can truly call it “blue skies ahead.”
  • Grayscale Bitcoin Trust (GBTC): GBTC remains all green in the PRISM Report and is now making its third attempt in just over a month to break its all-time high of $86.11. Currently wedged between that resistance level and its 21-day moving average below the market, we’re watching for a fresh push higher as the trend remains positive.
  • Emerging Markets (EEM): EEM recently broke out above key resistance at $47.44, reaching its highest level since February 2022. The next level of overhead resistance is $50.89. On a relative basis versus the S&P 500, however, EEM continues to trade within a sideways range established in March 2025.
  • Crude Oil (USO) & Commodities (DBC): Geopolitical tensions initially fueled gains in oil and commodities, but those fears have since cooled — and so has price action. USO is finding support at its 200-day moving average, while DBC is holding its 21-day (monthly) moving average as underlying support.

Takeaway

PRISM is flashing “Risk-On” across QQQ, GBTC, and EEM — suggesting a renewed appetite for risk. Meanwhile, the S&P 500 is once again testing its February 19th all-time high at 6147. With the PRISM Report and Asbury 6 both aligned to the upside, the path ahead looks promising. That said, several major US indexes are still situated just below some key resistance levels, while the latest data show a positive but slowing trend in asset expansion. Things look good overall in equities, but we need to break out to new all-time highs in several indexes amid expanding investor assets to clear the way for more sustained strength.

 

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.