2023-12-15F Nasdaq moves to NEW 23-MONTH HIGH, just 8.6% off Nasdaq All-Time High!

December 17, 2023

2023-12-15F Nasdaq moves to NEW 23-MONTH HIGH, just 8.6% off Nasdaq All-Time High!

2023-12-15F Nasdaq moves to NEW 23-MONTH HIGH, just 8.6% offNasdaq All-Time High!

Nasdaq rose for each of the last 7 days!

Even if you are in a hurry and don’t have the time to read the whole newsletter, please jump down to the LAST TABLE in this newsletter – the ACCUMULATION/DISTRIBUTION RATINGS table.

Look at the rightmost column – the sum of the stocks with A or B ratings. Over the last 4 weeks, that sum has risen from a very respectable 45% to an astronomical 77%.  If you can’t find winning stocks in this market,… give up!  (Better yet,  call Charlotte at (214) 995-6702.

The Nasdaq is just 11.2% below its all-time high of 2021. Wow!The market is in a new Uptrend! as noted by IBD senior writer Ken Shreve, one of my favorite IBD sources!

I would be surprised if the Nasdaq closed that gap in the two weeks left in 2023. But  a nice rise between today and the new year would give us hope for the current uptrend to run up to a new high!  (I have to say…..these are wild times in the stock market!.

And I suspect much of the current runup is driven by the shift of focus on the extensive growth of the companies being driven by their use of the new Artificial Intelligence tools.

Have you invested in one of the companies newly based in using AI? They are taking off - and one of the reasons the whole market is driving higher so fast.

NOTE: This rise is not sustainable forever, Please enjoy this ride but watch for an ending (or significant pause.)

On the WEEKLY chart above, count the number of rising weeks we are currently  in….. We are in the 6th rising week.  How pleasant is that? What a nice way to end the year! (even if it takes a small dip before the end of the year.)

On the DAILY CHART below, note that the Nasdaq has stalled at its high price in July of this year. This is a common price action in an excited market. It runs…. It stalls…. It runs…. It stalls…., etc.

On Wednesday Nasdaq chart below, what do you see (1) in the Nasdaq price move today and (2) in the volume today?


What I see is…. Wow! The biggest price jump in more than a month AND the highest volume in the 7+ months of this chart. Is the market making a “run for the gold”?  If so, I am ALL IN!

What would I really like to see in the Nasdaq next year?  

….A rise to the 2021 market high and then a beyond it?

Ever since we were hit by Covid, it seems the market is making new rules! (and Ilike them!)

Let’s see if the Nasdaq (and therefore the QQQ) can keep rising through 2024 to match or exceed the 2021 high! And please, do not get greedy! (Remember, I will tell you on page 1 of this newsletter if a new Uptrend starts to fail.)

A bit more about the DAILY Nasdaq CHART above.

I still like the way the Nasdaq is just climbing those price stairs! On Tuesday, the Nasdaq rose 0.7% for the sixth rising day and today (Wednesday) it rose another 1.4%(and so did the S&P500 and the DJIA) Yippee oh hi hay!!

Yes, the volume has fallen back to just about average volume… but considering we are closing in on the end of the year, I suspect some traders want to close at anew high for the year, and then save some of that momentum for the start of 2024!

Next, please turn to the Nasdaq’s daily chart below….. The last 5 days have demonstrated a nice stairway to…. heaven???

Bottom line:Here are the three major indexes’ moves Friday:

But with the dependability of the QQQ (and its two bigger brothers also shown in the table below), I am very happy to point out the TQQQ is in a rising market.

I hope you have followed the TRIPLE QQQ (TQQQ) and are enjoying its amazing gains. Yee Hah!  172.1% gain. (yes, I do accept tips!)

>>> If you are new to this newsletter, please note that we don’t always use the TQQQ. But when the market is rising so powerfully (as it has for most of this year), I will be happy to get 3 times the gains using the TQQQ – the ETF (exchange traded fund that targets at growing this investment at 2.5 to 3 times the QQQ.

NOTE:  I will continue to highlight the TQQQ in strong Uptrends, and the inverse SQQQ (the triple SHORT QQQ) which rises in falling markets. In a falling market, the SQQQ (short triple QQQ) will rise when the market falls.  That is what a “short”investment does.

Why not let the market do the heavy lifting while we just enjoy the gains?

Back to the second half of the ARMCHAIR INVESTOR NEWSLETTER. Those great tables.  Thanks for your positive feedback!

First take a glance at the last 20 days of the Nasdaq below.

·       Do you like what you see?

NOTE:  I have gone back to my old way of coloring the Nasdaq daily closing price:

·       When the closing price is below the prior prices, it will be orange.

·       When the closing price is rising,it will be green.

·       When the closing price hits anew high on this table, it will be highlighted in green, pointing to its growth!

Please be sure to check in DAILY in this market. You don’t want to be caught with a market that turns back down without your getting out!


The total of stocks with A or B ratings (rising stocks) has skyrocketed!

The percent of stocks with A or B ratings rose from a strong 55% 4 weeks ago … to an amazing 77% on Friday.  WOW! – In just 4 weeks!  

And that points to an aggressively rising market!!!

PLease watch this newsletter daily. At some point this hot rise will stall and perhaps even fail.

IF THAT HAPPENS - I will be here to tell you if I think its time to get out.

Of course I do not sell a position that has been rising well after one or two small down days. But if you had a significant loss over several days, especially if there is an increase in market distribution days (down days on higher volume), then stepping out and waiting in cash can help you save your portfolio for future rallies and let you sleep at night.

REMEMBER:_____EVEN IF CASH IS A VALID POSITION,…in 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! And watch daily!

And….. those birds still aren’t going anywhere!

Stay tuned!    Those birds just aren’t going anywhere! (They may be whistling for you! It's nice to have a cheering squad behind us!)

One additional “Word to the Wise”…

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

Wishing you big returns in your portfolio!.




Thank you for your kind feedback and ideas. Please keep sending them.

Charlotte Hudgin

The ArmchairInvestor


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Editor, Armchair Investor
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