1/6/2023 UPTREND Market Strength moves market firmly into a new Uptrend.

January 8, 2023

1/6/2023   UPTREND   Market Strength moves market firmly into a new Uptrend.

The last 6 days in the market did not lie – they showed a clear shift in the market – rising in 3 of the last 6 days with 2 days moving so little (less than 0.2%) that they were inconclusive (also called “neither” days,)

 

Friday’s third accumulation day in the last 6 was enough to push the market diagnosis back into UPTREND!

 

This change in market sentiment is NOT a conclusive move into an Uptrend. But it sure looks strong to the Upside.

 

Friday’s individual market movements confirm the Uptrend diagnosis.

Please send your questions to editor@armchairinvestor.com .

 

Note: The color of the Trend count column boxes, telling you what type of market we’re in (red for Downtrend), confirming the market is in correction.

·      Green = Uptrend

·      Yellow = Uptrend under pressure

·      Red    = Downtrend

But look at the strength shown in the last 6 days “Type of Day ” show a strong turn-around:

·      3 accumulation days, (days of buying) and 2 were Major Accumulation days

·      1 minor distribution day (day of selling)

It will take a while for the longer term ratings of the market to all turn green.

Note: The color of the Trend count column boxes,  telling you what type of market we’re in (red for Downtrend).: confirming the market is in correction.

·      Green = Uptrend

·      Yellow = Uptrend under pressure

·      Red    = Downtrend

But look at the strength shown in the last 6 days “Type of Day ” show a strong turn-around:

·      3 accumulation days, (days of buying) and 2 were Major Accumulation days

·      1 minor distribution day (day of selling)

 

Starting 3 weeks ago, the stock market got sicker as the stocks with A or B ratings dropped from 58% of all stocks to 42%. Last week, there was a small 4% rise in A + B stocks.

The market ACCUMULATION day on Friday pushed the market back into UPTREND. Notice the change in “personality” over the last 6 days of the “downtrend.”   Was the market manipulated? Did it generate enough down days with higher volume (4 distribution days in the last 10 trading days) to truly indicate the market was in “correction?”  (also know as Downtrend.)

The judgment of a “manipulated” market does not change the results over the last 6 days:

·      3 accumulation days (2 of them were Major Accumulation days)

·      2 “neither” days – not showing Uptrend or Downtrend indication

·      And only 1 minor distribution day of selling.

With the Nasdaq jumping 2.6% on Friday, I have to agree with the new diagnosis:

>>> MARKET IS IN UPTREND! <<<

Please send your questions to editor@armchairinvestor.com .

 

>>> But has a long way to go to recover a year+ in losses

Here is the schedule of stock market holidays for 2023. I suggest you copy it into a spread sheet (such as Excel or Numbers) and save it for future reference.

Additionally, stock markets will close at 1:00pm EST on:

·       Monday July 3rd, 2023 (prior to Independence Day)

·       Friday November 24th, 2023 (Black Friday)

 

STOCK WATCHING:  Send your suggestion on which stock to follow in this newsletter.  I am looking for just one stock at a time, for training purposes.

>>>>>>>>>>>>>>> 

Wishing you and yours a happy and safe holiday season.

Charlotte Hudgin, The ArmchairInvestor,   (214)995-6702

www.ArmchairInvestor.com   (214)995-6702   editor@armchairinvestor.com

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