5/15/2023M UPTREND Day 33 Nasdaq hits new 9-month high! But where’s the volume?

5/15/2023M UPTREND Day 33    Nasdaq hits new 9-month high! But where’s the volume?

5/15/23M UPTREND Day 33    Nasdaq hits new 9-month high! But where’s the volume?

The part of today’s Investors,com Big Picture title that got my attention was

“…Debt Talks Stall, Adding Risk.” How do stalled debt talks effect the stock market?

If there is no resolution to the government running out of funds over the next few weeks, I want to know how the many low-income social security recipients will get their needs met?. I cannot believe congress won’t work it out. I think they are playing for the drama and to end up the heroes.  It is unlikely it won’t get worked out in time. (I’m still keeping my fingers crossed.)

GOOD NEWS: The Nasdaq continues to rise and is now at an 8 1/2 month high!

There is an interesting upcoming video class on Investors.com especially for new Investors.com visitors scheduled for  Wednesday May 17. It is called: “7-stock-market-myths-and-superstitions-debunked. ”The IBD site says it will be shown a 1:45 p.m. eastern time (12:45 p.m. central time, search for it by the name.)   ‍

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>>>>> Note that each index will lead in different markets.  Your job is to figure out which is in the lead…. at the moment. My job is to make the current winners obvious to you.  Let’s see how I did with the following table.

Examine the following table of the MARKET ACTION (Nasdaq) OVER THE LAST 10 DAYS.

Note there is only 1 day in the last 10 trading days that had an accumulation day as shown in the table above ...  Price AND volume rose on May 10.

 Note there is only 1 day in the last 9 trading days that had an accumulation day as shown in the table above.  (Price AND volume rose on May 2.)

Reviewing the MARKET FACTORS, COUNTS & RATINGS table below, note there is GOOD NEWS >>>>> (Updated 5/11):

·       The RISING/FALLING RATIO OF LEADER STOCKS has slowly risen to 1.3, above neutral (which would be 1.0).

·       The Nasdaq's Accumulation rating is a solid B+ (sorry about that C- for the S&P500and  D- for the DJIA indicating they have more sellers than buyers.).

·       If you hold some of those lagging indexes (S&P500, DJIA, and others), I hope your position is not too large. I don't hold them and suggest you rethink that strategy if you do. Some of the “old safe indexes” are now losing money or making a lot less than they have in the past. YES,,,, the price moves on 5/5(+2.2%) and on yesterday, 5/10 (+1.0%) were pleasant rises. But without a consistent strong volume statement like the +19.2% on Wednesday, I’m not convinced the new Uptrend isn’t tenuous. I don’t need 19% but a few +5% volume moves or more on days with a higher prices more would give me comfort.

·       Thus, I am NOT heavily jumping into this market…..yet! But I AM BUILDING MY WATCH LIST to invest in when I am convinced the new Uptrend is not only here, but strong enough to keep going.

·       I’d rather be a couple of days late to get into a new Uptrend, than jump into an uncertain market.

The ACCUMULATION/DISTRIBUTION TABLE8

The As and Bs have been stagnant over the last 3 weeks. It sounds like the market makers are uncertain what to do with this market.   That means I will wait cautiously and watch what they do.

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

Editor2023@armchairinvestor.com

Wishing you, “Many Happy Returns.”

CharlotteHudgin, The Armchair Investor,  

www.ArmchairInvestor.com   (214)995-6702   editor2023@armchairinvestor.com  

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