Editor’s Note: Several weeks ago, we 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 clean and powerful way to identify where capital is being rewarded—quickly and clearly.

The only asset class with bullish readings across all four monitored time frames is Crude Oil.

Key Observations

  • Crude Oil (USO):  USO emerges as the only asset class showing a bullish lean in all four time periods and is up almost 12% since Jun 12th. USO is currently bumping up against formidable overhead resistance at $83.29, the Sep 27th 2023 benchmark high.  USO has had three failed attempts to break this resistance since then.
  • Commodities (DBC):  DBC has had a solid run—though not quite as strong as USO—as it is up over 5% since Jun 12th.  However, it is approaching formidable overhead resistance at $23.60,  the October 2024 benchmark high.  Meanwhile, DBC is also challenging its December 2022 trend of annual relative underperformance versus the S&P 500, which we view as a long-term decision point for oil prices.  Continued relative outperformance by DBC versus SPY would suggest an emerging longer-term opportunity to buy oil and related assets.
  • Grayscale Bitcoin Trust (GBTC):  GBTC tested and twice failed at its Dec 17th $86.11 benchmark high over the past month.  As long as this resistance holds, new long positions in bitcoin appear risky.
  • U.S. Technology (QQQ): Tech continues to pause in the Micro Term as QQQ has tested and is thus failing at its $539.15 Dec 16th benchmark high.  

Takeaway

The aggressive April recovery in the benchmark S&P 500 is stalling at its $6147 Feb 19th all-time high. PRISM has corroborated this near-term “stall” in the US broad market by indicating a coincident shift from riskier assets like QQQ and GBTC into non-correlated assets such as DBC and USO.  Additionally, AGG is beginning to show a bullish lean in the micro term, which may signal the early stages of a flight to safety into bonds/fixed income. This defensive shift is further corroborated by the Asbury 6’s recent shift to a Negative/bearish bias.

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.