US Stock Market: 2019 Advance Resuming Amid Strengthening Market Internals
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 previous October 16th Stock Market Update & Asbury Investment Management Video, we pointed out that US broad market’s 5-month period of sideways investor indecision from the May 1st high was still in effect, but to watch the upside as the larger 2019 advance appeared to be resuming.
And resume it did, as the benchmark S&P 500 (SPX) is now 58 points or 2% higher than it was on October 16th, trading at new all-time highs amid positive market internals as indicated by our Correction Protection Model (CPM) and Asbury 6 risk models. As long as these models remain Positive, the rally is likely to continue.
We recently added some new data-driven tables and metrics to Asbury Research. That information is already being integrated into managed client portfolios via AIM. One of these, our S&P 500 vs. The World Table below, measures the relative performance of the S&P 500 versus a comprehensive list of 24 global equity indexes for the purpose of identifying the latest trends of relative performance by non-US markets.
The table shows that 16 of the 24 foreign markets we track are currently outperforming the S&P 500 on a Tactical and Strategic basis. This as an indication that global equity markets are starting to recover from 2018 weakness — which we view as being overall positive for the US market.
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