4/20/2023H UPTREND day 16 Market has broad but mild pullback Thursday

4/20/2023H  UPTREND day 16  Market has broad but mild pullback Thursday

THE MARKET’S MESSAGE:  It is time to layout your plan for how to build your portfolio in this rising market!  I do believe it will resume its rise soon (but I won’t start investing heavily in the “rising” market until it arrives.)

On Thursday evening we had the April online class for you Armchair Investors. It was a “small move” day. The Nasdaq lost the most, -0.8% and the S&P500 lost 0.6% and the sleepy DJIA was down 0.3%. The only significant change was the 5% increase in the NYSE volume. Everything else I track was lower.

The ACCUMULATION/DISTRIBUTION RATINGS continue to grow higher in its “As + Bs” column meaning the increase in buying continues! (I look down that rightmost column to answer this question:

“Is the market buying-up or selling-down this market?

The right column (sum of the count of A-and B-rated stocks) is rising! showing the market is feeding the increased buying pressure. Look at the consistent growth in the sum of the A sand Bs (rightmost column.) Note I have moved the Accumulation/Distribution column to the front of this newsletter as I have come to appreciate its message:“Is this a healthy, rising market?” The 39% increase in As & Bs says, “YES!”

>>> More details over the weekend.

Looking over the MARKET ACTION OVER THE LAST 20 DAYS table, I start with the “Type of Day” column to see if there is more serious buying (accumulation days) or more serious selling (distribution days.) In the last  10 days (2 weeks). The accumulation and distribution days were evenly balanced:

·       2distribution (selling) days,

·       2accumulation (buying) days, and

·       6“neither” days (low volume days – a sign of indetermination).

There is an interesting spin on the above data when you look at the table below. All of the distribution days are 7 or more days ago, while in the last 6 days,there were no distribution days and 2 accumulation days. I call that a modest but favorable “change in color!”.

‍

Notice in the MARKET FACTORS, COUNTS & RATINGS table below. There is good news here!:

·      The market is on the 16^th day of this Uptrend (that’s 3+ weeks.)

·      The RISING/FALLING RATIO OF LEADER STOCKS is a strong 1.5.

The Nasdaq Accumulation rating is a B (sorry about those Ds for the S&P500 and DJIA).

I am always looking for a stock to “go the distance.”   And as with a bad date, I have no problem saying, “Good night,” early if the evening is not going well.Please consider exiting any stocks that just aren’t “cutting it!”

Are you registered on the current www.ArmchairInvestor.com site?

If so, you will receive a BRIEF email from me after I post this newsletter each night to tell you, as soon as possible, when it is available for your review. If you don’t get that message,just click on the popup invitation that appears when you go to the www.ArmchairInvestor.com website(the one listed above) and register.

>>>>>I will appreciate any feedback you have for me. Please send comments and ideas to:

Editor@armchairinvestor.com

Wishing you, “Many Happy Returns.”

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

www.ArmchairInvestor.com   (214)995-6702   editor@armchairinvestor.com  

2023 ACI NEWSLETTER sent via WEBFLOW

‍