12/15/22H Uptrend – Yikes! Nasdaq -3.2%, S&P500 -2.5% Uptrend under PRESSURE

December 16, 2022

12/15/22H  Uptrend – Yikes! Nasdaq -3.2%, S&P500-2.5%  Uptrend under PRESSURE

THE MARKET’s MESSAGE:  Warning! Bumpy road ahead!

When you look at Thursday’s3.2% drop in the Nasdaq, does it help to know that individual stocks and indexes typically fall faster than they rise?

Do note that the Nasdaq stayed above it’s 50-day line for over 4 weeks before it fell below that common support level on Thursday.


The market pulled broadly back amid murmurs of a Fed Funds rate as high has 5.75% next year with this comment, “Inflation must be brought under control,” and a forecast of 4.1% in 2025.


More bad news came in this morning when Ed Carson of Investor’s Business Daily added a comment that the Nasdaq, S&P500 and DJIA futures have fallen “solidly.”  Not an encouraging evaluation. This would be agood time to evaluate the stocks you are holding.


The percent of stocks with Aor B rating is off its high of 2 weeks ago, but still very encouraging!

Note the increase in yellow boxes on the MARKET FACTORS table. This points to weakness in the market.

On the MARKET ACTION OVER THE LAST 20 DAYS table below, the Nasdaq had its first accumulation day (when price andvolume rose) in 2 weeks. Now I look for the market to show me more!

Note: A RED highlighted index Price indicates a NEW LOW  during these 20 days.

A GREEN  highlighted index Price indicates a NEW HIGH  in these 20 days.

NOTE: Today's newsletter is a bit short due to another commitment of mine last night. My Rotary club celebrated the 100th birthday of a World War II hero, Lieutenant CC Collie, Jr., USN, Retired!!!

Don't forget to recognize the heroes in your lives!

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

Wishingyou 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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Charlotte Hudgin
Editor, Armchair Investor
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