Bear Market Rally, Or Resumption Of 2009 Advance?
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 April 7th Stock Market Update, we pointed out that our Asbury 6 tactical model had just moved to an equally-balanced, Neutral reading of 3 green (Positive) and 3 red (Negative) constituents, after previously turning Negative on February 24th as shown in Chart 1 below.
The rightmost green arrow on the chart also shows that the “A6” turned back to Positive a day later and subsequently rose by 220 points or 8.3% into the 2879 April 17th high — but has since pulled back a bit over the past few days.
Chart 2 below shows the reason for this recent minor pullback: The benchmark US index ran into a formidable cluster of overhead resistance at 2822 to 2856, which represents the August and October 2019 benchmark lows (red highlights) and the 50-day moving average (minor trend proxy, blue highlights). Ken Tomko of our sister company, Asbury Investment Management, discusses this overhead resistance — and how we have navigated it thus far in real time — in this week’s video.
This test of resistance sets up an important Tactical decision point for the US broad market. If the current sharp rebound from underlying support at SPX 2193, the August 2016 benchmark high (green highlights), was just a corrective rebound within an uncompleted bear market, then the larger February decline is likely to resume from overhead resistance at 2822 to 2856. If this resistance area is broken to the upside, however, it would suggest the larger March 2009 uptrend may be resuming.
Our tactical models, the Asbury 6 and the Correction Protection Model (CPM), will confirm near term direction for us — as it happens.
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 April 22nd 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.