Will The March Recovery Hold? Know Your Levels.

Asbury Research’s Stock Market Update & Asbury Investment Management Video is a free report that we use to keep in contact with existing clients, and those who have previously asked for information about either Asbury Research or Asbury Investment Management (AIM).  Feel free to contact us anytime for further information about our services for professional and private investors. 

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In our previous June 3rd Stock Market Update & Asbury Investment Management Video, we said the major trend in the benchmark S&P 500 (SPX) appeared to be turning back to positive but also pointed out that minor overhead resistance existed just above the market at 3215. 

Chart 1 below, an updated version of the one from that report, shows that SPX tested 3215 resistance on June 8th, failed there, and has since collapsed by 249 points or 8%, back into a band of major underlying support at 3017 to 2927.

Chart 1

This cluster of support, which represents the 200-day moving average (major trend proxy, orange), the April 29th high (green), and the 50-day MA (minor trend proxy, blue), is where the current advance must resume if the larger 2009 secular uptrend is still intact.

If SPX fails at this support, however, and is confirmed by a Negative / Risk Off shift in our tactical models (CPMAsbury 6), it would indicate the March recovery has failed and — especially amid the current economic environment — open the door for a potentially nasty decline.

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

Asbury Investment Management (AIM): Our Latest Video
Asbury Research Ideas, Expertly Managed

Here is our June 18th Video Review, which explains how we have recently utilized Asbury Research’s market analysis and investment ideas to professionally manage client portfolios.

AIM offers a unique approach to investment management that is data driven, dynamic, and solely based on the currenttechnical condition and quantitative risk/reward profile of the financial markets.

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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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