Positive Asbury 6 Fuels Rally From S&P 500 Support

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In our previous September 26th Stock Market Update & Asbury Investment Management Video, we pointed out that the benchmark S&P 500 (SPX) was testing formidable underlying support at 3233 amid a Risk Off / Negative reading in our Tactical models, the Correction Protection Model (CPM) and Asbury 6.  We said that as long as our models remained Risk Off, 3233 was likely to be broken and SPX would be on its way to a deeper decline.

However, our Tactical models turned back to Risk On / Positive as of October 5th, which turned 3233 support into the launching pad for the S&P 500’s next move higher.  The chart below shows that SPX subsequently jumped 141 points or 4% higher over the next 5 days.

S&P 500 daily since January

This chart is a prime example of why we are data driven rather than trying to make predictions about the future, the latter which is often an expensive if not losing game.

Table 1 below displays the current Positive (bullish) reading in our Asbury 6, which has been in effect since October 5th.  As long as the “A6” remains Positive, meaning 4 or more metrics are green, the current rally from 3233 is likely to continue.

Click the table to make it larger.

The Asbury 6

Editor’s Note: The Asbury 6 is a combination of six diverse market metrics that we use as a lie detector test for the market — to help identify real, sustainable market advances or declines from computer-driven traps for investors. It is updated daily in our Research Center. We created the Asbury 6 primarily because algorithmic trading now accounts for about 80% of the daily volume in the US stock market. Many of these computer-generated trading programs are designed to prey on human investors by causing quick, sharp moves in financial asset prices that provoke people to make emotionally driven, ill-timed trading decisions to enter or exit the market at the worst possible times and places. The Asbury 6 is designed to look past the day-to-day noise of the market to determine its real “under-the-hood” condition.

The bottom line is that, as improbable as this rally may be within a weakening economy and a global pandemic, we will continue to “follow the money” every day to stay on the right side of the market.

Our latest video below shows how we have navigated these recent market conditions in real-time.

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Here is our September 11th Video Review, which explains how we have recently utilized Asbury Research’s market analysis and investment ideas to professionally manage client portfolios.

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This communication is for informational purposes only. It is not intended as investment advice, or as an offer or solicitation for the purchase or sale of any financial asset.  No inferences may be made and no guarantees of profitability are being stated by Asbury Research LLC.  The risk of loss trading in financial assets can be substantial. Therefore, you should carefully consider whether such trading is suitable for you in light of your financial condition.

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