11-08-23W UPTREND Day 6, Nasdaq has 8th Rising Day in a Row! But today was a small rise!

November 9, 2023

11-08-23W  UPTREND Day 8, Nasdaq has 8th Rising Day in a Row! But today was a small rise!

I expected to get out a quick summary newsletter earlier this evening, knowing that I had an opera world premier to attend here in Dallas tonight.  But my driver arrived too early so here I am back from the enjoying “The Diving Bell and the Butterfly” which I higher recommend. I apologize for the delay in this newsletter.

Where are we in this Uptrend?  In summary, the rising market slowed down to a 1% crawl on Wednesday for both the Nasdaq and S&P500. While one slow day is not enough to call the market “under pressure,”it has definitely slowed down.  

We will know in the next few days whether this price weakness was a top or just a momentary pause.  I suspect the reversal back into downtrend.

But one weak day does not turn an Uptrend into a Downtrend.  Patience will give us an answer – could be Thursday or later.

I have earned some amazing returns by holding the TQQQ in the recent rally. But I do not know how to get out at the very top of a run like the one we are in. One more distribution day (down day on higher volume) could do it.

The recent runup of the QQQ and the TQQQ (triple QQQs) has been encouraging. Many of us expected the Uptrending QQQ and TQQQ to fizzle today. But they only slowed down to a small rise today. But it was a RISE!

Even on a slower day, I would rather hold the TQQQ in an Uptrend:

After the market hesitated in growing the A, B and C rated stocks for a month, look at the week ended on Monday (11/7) below. The number of A, B and C rated stocks rose this week. But look at Monday’s A+B total’s rise from 21% to $46!

AND ARE MINDER: most indexes fall faster than they rise.

>>>>>Please remember: I do not know how to get in at the bottom  or out at the top. I just  get closer than most.

We don’t know it’s a top until after we have ridden the market down for a bit.

But I get closer to the turning points than most.  

>>>>LESSON to NOTE:  Most indexes drop faster than they rise but this drop is accelerating! Please take a few minutes to look at the stocks you own (QQQ, TQQQ and any individual stocks).

The Nasdaq hit a new 20-day high price but just barely - a 0.1% rise.

Look below at the MARKET FACTOR, COUNTS & RATINGS table for more encouraging news.


REMEMBER:_____EVEN IF CASH IS A VALID POSITION,…with a fast rising market, you should consider holding a position that allows you to position your portfolio to rise with the market (or a multiple of it.) Stay tuned!    Those birds just aren’t going anywhere!

One additional “Word to the Wise”…

>>>>>--- MOST MARKETS FALL FASTER THAN THEY RISE. Beware of buying any new position unless they are very healthy.

Please send questions, comments, suggestions, ideas and requests to:   My text message account at (214) 995-6702.

Wishing you, “Many Happy Returns.”

Charlotte  Hudgin, The Armchair Investor,                                              

www.ArmchairInvestor.com   (214)995-6702   


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