2022-10-10M UPTERND ENDs with UNDERCUT of PRIOR LOW

10/10/2022  DOWNTREND.   UPTRENDENDs with UNDERCUT of PRIOR LOW

10/10/2022:  Market continues dropping: Nasdaq undercuts June 2022 low AND September 2020 low. The Downtrend (correction) is still with us.

10/10/2022: Market continues dropping: Nasdaq undercuts June 2022 low AND September 2020 low. The Downtrend (correction) is still with us.

The Nasdaq is now almost half-way back to the March 2020 pandemic correction – just another 37% drop to match that low! But take heart! Markets rarely correct that hard…….unless they do. And they have in past markets with really black economic times. With the Federal Reserve Bank leaders and the politicians be able to build up this economy enough to support the market’s turn back up?  The only option for individual investors is to be prudent in your investing. (Yes, “cash” is a position.)

GOOD NEWS:The percent of stocks with A or B Accumulation/Distribution ratings rose from 19% to 26% in just the last week! That shift shows a lot of new buying going on –They can’t hide their buying from us!

Stay tuned.   Protect your stock positions. Do NOT let them crash just because you believe the correction might be over.

REMEMBER: The market can always go lower.

It’s been a wild ride!

The major indexes are all falling – in relative proportion to their prior rises.

Wishing you, “Many Happy Returns,”

Charlotte Hudgin, the Armchair Investor,   (214) 995-6702

>>>>FOR MARKETSMITH SUBSCRIBERS: Friday’s workshop on 3-Waves Down was not to be missed.  And the recording is on the MarketSmith site.

 My team is in the process of simplifying the nightly Armchair Investor newsletter. Many parts of the newsletter were simply copied over every day.  These non-changing items will be left off the daily newsletter and available on the new site as your reference.

If you have any ideas on improving the Armchair Investor newsletter, please send them to me at Editor@armchairinvestor.com

Thank you!

Please send your questions, comment and suggestions to:

Charlotte Hudgin, editor@armchairinvestor.com

>>> I am happy to talk to you about the market.

Call me if you’d prefer at (214) 995-6702.

If I don’t answer, please leave a message with your number. so I can call you back.

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