2/08/2023W After Tuesday’s Pop, Wednesday took it back - MUST READ THIS ARTICLE!
THE MARKET’s MESSAGE: Nasdaq Pauses at 12,000, PLUS a "Must Read" article
The Nasdaq faded after Tuesday’s pop!
When I collected the data for this newsletter Wednesday afternoon, I was frustrated when some of the IBD data sources I read to prepare this newsletter were not out at the usual times. Outside of Investors.com’s site, everything else I look at was available around the usual times.
What was going on at IBD? It turns out they were working hard to provide their readers with some great, timely information – included in tonight’s extraordinarily long Big Picture article.
Plus I encourage you to spend time with another IBD fascinating article that came out a couple of days ago that Imissed: “ChatGPT Is Just The 'Tip Of The Iceberg' In Content-Creating Artificial Intelligence; Get Ready For 'A Lot Of Disruption' “
By the time I copied the second article into a Word document and reduced the size of the pictures, the article is still 6 pages long. And Wow! It really stired up my concerns about this fundamental shift in the market. I strongly encourageyou to take the time to download this article t so you can spend time absorbing this groundbreaking shift.
(If you are not a subscriber to IBD’s site, I suggest you take this opportunity to take a trial… or find a friend who has a subscription and negotiate a copy.)
I also strongly recommend you take the time (as soon as you have a half hour) to read this second article completely.
If you are an AI specialist …. Or simply follow it, please give me a call. I would love to chat with you!
The market pulled back on Wednesday but its lower volume took some of the sting out of the loss. Note: Every UPtrend has some down days. Lower volume helps me cope with it.
The rising market strength shows up in the growth of “A”and “B” ratings over the last 4 weeks from 59% to today’s 66%:
We’ve talked about the strength of the Nasdaq as shown in the table below. Notice the green highlights in the Price column. A green highlighted price means it is the highest price in the last 20 days. Yes! The MARKET ACTION table shows how consistently the 2023 market is rising…. And so is your portfolio, I hope!
On the MARKET FACTORS table below, the only red is at the bottom – showing how far the major indexes have risen above their end of 2022 highs.
>>>>> BOTTOM LINE: This market continues to rise, showing strength – I hope you are “riding the rise”and grinning as much as I am!
STOCK WATCHING: Send your suggestion on which stocks to follow in this newsletter. I am looking for just one stock at a time, for training purposes.
Wishing you, “Many Happy Returns.”
CharlotteHudgin, The Armchair Investor, (214)995-6702