US Stock Market: Emerging Correction?

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.

In our October 16th Stock Market Update & Asbury Investment Management Video, we said the US market’s larger 2019 advance appeared to be resuming following several months of choppy, sideways trading activity.  One of the key reasons for that shift back to a bullish market outlook was the October 15th shift back to a Positive bias in our Asbury 6 Model.  Since then, the benchmark S&P 500 (SPX) has risen as expected, by an additional 164.00 points or 5.5%.

The Asbury 6 consists of six key tactical market indicators, of which only one – by design — is based on price.  We use the “A6” as a lie detector test for the market that helps us identify real, sustainable market advances or declines from computer-driven market noise that often become traps for real investors.

The latest status of the model, which is updated daily in our Research Center, is shown in the table below.

Table 1

Another key chart we are focusing on this week identifies the underlying support levels in the S&P 500.  Chart 1 below shows that this week’s sharp decline has thus far stopped and reversed higher near minor underlying support at 3077.

Chart 1

The more important support level, however, is primary support at 3036 to 3028.  A breakdown below this level, amid a Negative shift in the Asbury 6, would indicate a long-overdue corrective decline is beginning.

A New Addition To The AIM Team

Please welcome James Oswald, CFA, to our firm. He will be primarily working as a member of our trading and portfolio management team.

Jim has more than 25 years of professional investment management experience as a trader, portfolio manager and strategist.  He is a Chartered Financial Analyst (CFA) and earned a B.S. in Finance from DePaul University.  We have known and worked with Jim for years and know that his vast market experience and depth of knowledge will make AIM even better.

He has hands-on experience with developing and implementing financial strategies during both up and down markets.  Jim said, “I have loved investing since I was a teenager and I’m grateful to be able to have a profession in what I love to do.  I might be considered to be a finance geek since it is what I mostly do, but I also like outdoor activities, music (especially playing bass guitar) and having fun with my family and friends.”



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

Click Here for our 12/4/2019 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 current technical 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 therefore carefully consider whether such trading is suitable for you in light of your financial condition.

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