In our Logic-Over-Emotion Investing blog postings we try to feature an investment idea or chart from one of our recent Asbury Research premium reports.
The following (green highlights) is an excerpt from our August 3rd What We’re Watching Today report, a new addition to our research line-up that was emailed to Asbury Research subscribers before the opening on Wednesday August 3rd.
This report is particularly significant this week.
Asbury Research’s What We’re Watching Today
The US Stock Market
August 3rd, 2011 7:14 AM
1) A Major Top Was Confirmed In the S&P 500 Tuesday (Aug 2nd)
…at the May 2nd high that targets an initial -8% decline to 1150 (red highlights on chart below). Below the market, the next key support levels (green highlights) to watch are 1249, the 2011 low that was set on March 16th, and 1227 to 1220 which represents the November and April 2010 benchmark highs.
Since that report. the S&P 500 has declined by 104 points or -8% in just 4 trading sessions to meet its 1150 downside target earlier today.
Avoiding a huge loss is at least as important as capturing a huge gain.
The entire August 3rd What We’re Watching Today report is available to Asbury Research subscribers by logging into the Research Center via the button at the upper right corner of the screen.
Professional investors can learn more about our investment research right here on our website which includes sample reports, client testimonials, our 2010 market calls, and John Kosar’s recent appearances in the media.