It’s Sink Or Swim Time For US Stocks
In our previous May 6th update, we said “as goes technology, so is likely to go the market”.
Tech bellwether NASDAQ 100 (NDX) immediately declined by 490 points or 6% over the next week, into the May 13th lows, and is trading just above that area now.
At the same time, the chart below shows that the benchmark S&P 500 (SPX) also reversed lower from a failed attempt to rise and remain above its 2941 September 2018 all-time high, and quickly collapsed to test — and thus far hold — major underlying support at 2800 to 2777.
If the current 2019 US stock market advance is still healthy and intact, it must resume from at or above this major support.
However, the table below shows that our Asbury 6 key market internals — which we update daily in our Research Center — are all currently in negative territory.
When all Asbury 6 are negative, as they are now, stock market internals are the least conducive to adding risk to portfolios.
How the S&P 500 resolves this major decision point is likely to determine whether the US stock market begins a rise to new all-time highs, or a long overdue and potentially nasty corrective decline. And without improving market internals, as would be seen in a positive shift in our Asbury 6, it is likely to be the latter.
The video below shows how we have used Asbury Research’s analysis and strategy to manage investor assets, in real time, for our Asbury Research Management clients.
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Click Here for our 05/22/2019 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 dynamic, based on the current condition and risk/reward profile of the financial markets, rather than on whatever your investment allocation may have been pre-determined to be.
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