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 is currently the only asset class with a bullish reading across all four monitored time frames.

Key Observations
  • US Technology (QQQ):  QQQ is testing all-time highs established on July 31st of this year and is now making all-time highs on the relative performance chart versus SPY.  Tech continues to provide leadership for the market rally.  Minor support exists just below the market at 562.18, the current location of its 21-day moving average.
  •   Gold (GLD):  GLD is showing strength in three of four time frames, with only Medium-term relative performance versus SPY not in the green.  That relative performance continues to act as a pseudo resistance level for gold as it has underperformed in that timeframe since May.  Resistance on the price chart is at 317.63, which represents the all-time high established on April 22nd.
  •   Global Equities Ex-US (SPDW) & Emerging Markets (EEM):  SPDW is currently testing its all-time high of 41.58 and is only missing green on its relative performance versus SPY in the Short and Medium term.  Out of the 41 iShares MSCI country ETFs that we track, 21 of those countries are now outperforming the S&P 500 on a 21-day basis, compared to just 6 last week.  EEM is also approaching major overhead resistance at 50.89, which would be the second test of that level in the past 30 days.  It is key for EEM to break through that resistance on the price chart, and on a relative basis versus SPY, to achive a green (positive) status in all four timeframes.
  Takeaways

The PRISM model suggests that the market is currently at an directional inflection/decision point, with continued strength in U.S. Technology and growing bullish momentum in Gold.  Emerging trends in SPDW and EEM may be signaling a potential slowing in the U.S. economy.  GBTC’s emerging bearish trend on the Micro and Short-term could indicate growing hesitation among managers to take on extreme risk.  However, for this negative trend to redirect the broader market, it would need to start manifesting itself within Big Tech.  In essence, we are seeing a shift in the report that points to mixed signals across the market.  Keep an eye on AGG, as an upside breakout there would further support the case for a broader negative market shift.

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.