The “Asbury 6” & A Lack Of Urgency To Buy
The markets are mixed following the latest retail sales data. John Kosar discusses movement in the S&P 500, the Asbury 6, NYSE Cumulative Volume Index (CVI), and the NASDAQ 100 (NDX). He notes that the SPX has been in a neutral, sideways trend since December, between 4200 and 3800, and that the “Asbury 6” has been negative since May 2nd. He then explains why there is a lack of urgency to buy and also mentions several key resistance levels to watch in Apple (AAPL). He notes that APPL and NDX have had a nearly-lockstep positive linear correlation over the past 35 years. Finally, he gives an overview of Technology and the outlook for the overall market. Tune in to find out more about the stock market today.
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