Searching For A Bottom
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 March 11th Stock Market Update, we pointed out that the benchmark S&P 500 (SPX) was testing, and starting to rebound from, formidable underlying support at 2729 to 2722. We said that, should this support be broken, the next key level was an additional 5% below the market at 2604.
SPX subsequently crashed below 2722 the very next day and has since declined by an additional 539 points or 19.5% into yesterday’s (March 23rd) low.
Chart 1 below plots the S&P 500 weekly since 2015 and shows that most recent market collapse has positioned the US broad market index at another underlying support level, 2193 to 2133, which represents the August 2016 and May 2015 benchmark highs.
People say the market has a memory. But it’s really the collective intelligence of investors that has a memory, and this memory reveals itself in these underlying support levels in price charts.
This latest test of support, which is nothing more than some previous important index highs, sets up yet another decision point for investors. If there is some meaningful investor interest to buy at SPX 2193 to 2133, then we will see market internals start to improve via our tactical models, the Correction Protection Model (CPM) and Asbury 6.
Without improving market internals, however, this support is unlikely to hold and will give way to a deeper decline, perhaps down to the next support level shown on the chart.
Our latest video below shows how we have navigated these recent market conditions in real time.
Asbury Investment Management (AIM): Our Latest Video
Asbury Research Ideas, Expertly Managed
Here is our March 24th 2020 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 currenttechnical condition and quantitative risk/reward profile of the financial markets.
If you would like to learn more about Asbury Research, Click Here to contact us and type “subscription info” in the Reason For Inquiry text box or call 888-960-0005.
If you would like to learn more about Asbury Investment Management (AIM), please email firstname.lastname@example.org or call 1-844-4-ASBURY (1-844-427-2879).
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 carefully consider whether such trading is suitable for you in light of your financial condition.