The following is a brief excerpt from Friday’s Weekly Recap report, one of many different reports that we produce for Asbury Research subscribers every month.

The Weekly Wrap-Up: September 23rd, 2016

Posted on: Friday, September 23rd, 2016

From Monday’s Keys To This Week Report:

The past week’s stability / strength in the S&P 500 (SPX) is a direct result of its test of a band of underlying support at 2121 to 2104, which we have been pointing out in various reports for the past several weeks as the first formidable level below the market.  This support, which is easy to spot on the charts, has apparently attracted the “buy the dip” crowd.  Internally, however, the market still looks vulnerable over the near term…”

Keys To This Week
Asbury Research
Tuesday, September 19th 2016

Most ETF Asset Flows Have Turned Positive Again…

The lower panel of Chart 1 below shows that the daily total net assets invested in the Power Shares QQQ ETF, which tracks the NASDAQ 100 (NDX, upper panel), rose back above their 21-day moving average on Thursday and Friday to indicate an emerging trend of monthly expansion that is characteristic of near term price advances in this market-leading index.

Chart 1

Chart 1

This is the single most influential metric on day-to-day US stock market direction, and right now it is positive (bullish).

…But Investors Are Too Complacent To Launch A Sustainable Advance

The highlighted red circle in the lower panel of Chart 2 below points out that the CBOE Volatility Index (VIX) finished this week at 12.29 after trading as low as 11.76 on Thursday (Sept 22nd).  The red vertical highlights between both panels show that previous instances of a 12.00 VIX have either coincided with or closely preceded literally every near term peak in the S&P 500 over the past two years, most recently the one in mid August.


Subscribers can log in to the Research Center to view the rest of the report and additional 3 charts.

The Weekly Wrap-Up , which is sent to subscribers every Friday, discusses what happened during the past week in the US stock market and why, what it means for the following week‘s market activity, and how it fits into our intermediate term, 1-2 quarter investment strategy.  Clients have told us that The Weekly Wrap-Up helps them to relax and enjoy the weekend more as  it includes a preview of what to expect in the upcoming week.

Asbury Research subscribers can view the entire report by logging into our Research Center.

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