Asbury Research’s Stock Market Update & Asbury Investment Management Video is a free report that we use to keep in contact with existing subscribers, and also with those who have previously asked for information about either Asbury Research or Asbury Investment Management (AIM). Please contact us for additional information about our services for both professional and private investors.
Stock Market At A Tactical Inflection Point
In our previous Jun 26th Stock Market Update & Asbury Investment Management Video, we said that a number of important stock indexes and influential stocks were all testing important, formidable underlying support levels that could spur a significant market rally. However, we also pointed out that our Asbury 6 risk management model was still on a Jun 10th Negative status and that, as long as that was the case, it was too soon to assume that a tradeable market bottom was in place.
The Asbury 6 looks at market internals — the stock market’s real under-the-hood condition — rather than focusing on the day-to-day up and down market noise that is primarily driven by algorithmic (computerized) trading. This “noise” can really get investors in trouble because it pushes their “fear and greed buttons” to act on every erratic move, rather than just focusing on the actual condition of the market.
The table below shows that, through Thursday, Jly 7th, 4 of the Asbury 6 constituent metrics were green (positive), which shifted the model back to a Positive status from Negative on Jun 10th.
The Asbury 6 Risk Management Model
How To Interpret The Asbury 6: The Asbury 6 is our own quantitative risk management model which is updated daily in our Research Center. The “A6” is a combination of six diverse market metrics that we grouped together to look beyond the day-to-day, up-and-down noise of the stock market to determine its actual health — in much the same way that a doctor checks the patient’s vital signs during an office visit. Four or more metrics in one direction, either Positive (green) or Negative (red), indicate a Tactical market bias. The dates in each cell indicate when each individual constituent of the A6 turned either positive (green) or negative (red). When all Asbury 6 are positive, market internals are the most conducive to adding risk to portfolios. Each negative reading adds an additional element of risk to participating in current or new investment ideas.
The Asbury 6 has been on a Negative status for most of this year, which has helped us to protect both our subscribers from most of this year’s stock market decline. However, this very recent Positive shift in the Asbury 6 suggests an emerging buying opportunity at a great level, 19% below this year’s highs.
The next step is for the benchmark S&P 500 (SPX) to break what we call primary Tactical resistance, which is currently about 1%-2% above Friday’s close. Subscribers can log in to our Research Center to get the latest precise level of this resistance as it constantly changes with market movement.
Click Here for The Asbury Approach To Investing video for June 2022
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Disclaimer: This is provided for information purposes only and is not intended to be a solicitation to buy or sell securities. The performance indicated from back-testing or historical track record may not be typical of future performance. 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.