US Stock Market Resuming 2019 Advance On Improving Market Internals

In our previous August 21st update, we pointed out that the benchmark S&P 500 (SPX) had recently tested and held major underlying support at 2817 to 2800, on August 5th and 15th, and said the 2019 major uptrend in the US broad market remained up (bullish) above this support.  We also pointed out that minor overhead resistance existed just above the market at 2941 to 2954, and said the minor trend in SPX remained down (bearish) below this resistance.
Since then, our Correction Protection Model (CPM) turned back to a Risk On status a day later, on August 22nd.  About a week after that, on August 29th, 5 of our Asbury 6 key market internals turned back to Positive (bullish) per our table below.  When all Asbury 6 are positive, market internals are the most conducive to adding risk to portfolios.
The chart below, updated through this morning, shows that SPX gapped above minor resistance at 2941 to 2954 this morning, confirming with price action the improving market internals that our CPM and Asbury 6 were indicating in late August.

S&P 500 daily since May 2018

This clears the way for an upcoming retest of the July 26th all-time high of 3028, as long as the 2950 area now contains the US broad market index as underlying support.
The video below shows how we have used Asbury Research’s recent analysis and strategy to manage investor assets, in real time, for our Asbury Research Management clients.

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

Click Here for our 09/04/2019 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.

These free bi-weekly reports are published to stay in touch with those who have expressed an interest in our approach to investing.
If you are interested in becoming an Asbury Research subscriber, Click Here to contact us and type “subscription info” in the Reason For Inquiry text box.
If you are interested in becoming an Asbury Investment Management  (AIM) client, please email or call 1-844-4-ASBURY (1-844-427-2879) for further information about individual managed accounts.

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.

Invest like a Professional. Get Started Today

Don’t miss any more opportunities. Sign up today and see how Asbury Research can give your investments the edge they need in a turbulent market.
Start Today!