2/01/2023W UPTREND It’s a GREEN explosion! Market POPs after Fed Chair Powell comments
THE MARKET’sMESSAGE: Market shows broad UPWARD strength in 2023
Before I go into today’s market action, please jump down to the MARKET ACTION (Nasdaq) OVER LAST 20 DAYS table a few pages below and COUNT THE NUMBER OF DISTRIBUTION DAYS in the last 20 trading days for the Nasdaq. I’ll wait!
My mouth is hanging open! I have never seen a 20-day period were there was only 1 distribution day. I am almost teared up! This is an amazing Uptrend!
Today’s newsletter was lots of fun to put together! It always is when there is so much good news to share.
What a beautiful site!
Except for the Dow Jones Industrial Average, the market was on FIRE today!
It is clear the market liked the Fed’s response Wednesday. Look at the market run up!
On the ACCUMULATION/DISTRIBUTION RATINGS table below, note the shift to more and more “A” and “B” stocks points to some aggressive buying of top stocks.
When I see the sum of the As plus the Bs equal 65%, I know that this market is flying!
If you haven’t fully invested your available cash, you may want to start putting it to work.
Everything in the next table is green (rising, showing strength) or white (the loser of the 2 possible answers.)
The only red on the MARKET FACTORS table is at the very bottom – and it will always be Red until the indexes hit new highs.
And just to come back to today’s reality, note there is still plenty of upside growth to get back to the previous highs. >>>>> I WILL BE HAPPY TO RIDE THIS MARKET BACK UP TO TOP THOSE PREVIOUS HIGHS!
>>>>> BOTTOM LINE: This market continues to rise, showing strength – I hope you are grinning as much as I am AND ARE ADDING UP YOUR GAINS!
Note: When youlook at today’s MARKET ACTION table above, scan down the PRICE column and notethe GREEN highlighted prices. They are green because, in the last 20 days, theNasdaq hit new highs in this chart! THAT’S A LOT OF GREEN.