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John Kosar
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John Kosar, CMT, is Director of Research of Asbury Research LLC (http://www.asburyresearch.com/). Since 2005 Asbury Research has been providing in-depth, comprehensive financial market research to professional investors that understand the value and importance of incorporating technical,... More
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Asbury Research LLC
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Logic-Over-Emotion Investing
  • Will The October Stock Market Rally Continue? Watch The Semis. 0 comments
    Mar 16, 2012 12:19 PM | about stocks: SOXX, SPY

    The following (green font) is an excerpt and a chart from our Monday March 12th Keys To This Week report. Asbury Research subscribers can view the entire report by logging into our Research Center.

    In this report we identified the relative performance of the SOX Index versus the broad market S&P 500 as one of 11 key factors to upcoming US stock market direction.


    excerpt from Asbury Research's Keys To This Week
    The US Stock Market
    March 12th, 2012

    Key #4> Relative Performance: PHLX Semiconductor (SOX) vs. S&P 500 (SPX) Indexes. NEAR TO INTERMEDIATE TERM BEARISH. Chart 2 below displays the daily relative performance of SOX vs. SPX in the upper panel (green line), quarterly overbought and oversold extremes by SOX versus SPX in the middle panel (red line), and SPX by itself in the lower panel (black bars).

    Chart 2

    The red vertical lines between all three panels show that the market-leading SOX Index has just started to work off mid February quarterly overbought extremes versus the S&P 500, and that previous similar extremes have coincided with or led most of the intermediate term trends of relative underperformance by the SOX since 2006 - and coincident declines by the broad market S&P 500.

    continued…


    Keys To This Week is one of 8 different reports that Asbury Research produces for subscribers at various intervals throughout the month. A sample copy of Keys To This Week, as well as the other reports, are available by clicking here.

    Interested investors can request further information about our research by clicking here and completing the on-line form, or by calling 224-569-4112.

    Themes: Semiconductors Stocks: SOXX, SPY
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