6/05/2023M UPTREND Day 45 Nasdaq runs up 30.8% during 5 months of 2023!!

6/05/2023M UPTREND Day 47    Nasdaq runs up 30.8% during 5 months of 2023!!

Note to Armchair Investor readers:   I will be on my first vacation in 2 years for the second half of June. I expect to get the Armchair Investor out most nights, but it may be significantly shortened. I am not planning on giving an online class in June. (We  gather the first Thursday night of each month at the Ol’ South Pancake House in Ft Worth for a rockin’ discussion of the current market and a basket full of key stocks.) See you FWers next month: Thursday July 6.

Remember:You have my phone number: (214)995-6702, and are welcome to get me a call between the live classes. It may take some time to call you back, but I will try to get you the same or next day. (Right now the number of calls is doable within 48 hours.) And also, I will be on vacation for 2 weeks at the end of June (June13 – 27.)  Expect shortened newsletters with a few misses.

NOTE::This week:Investors.com’s Leaderboard software is FREE! No cost, no credit card. Just click here and give it a try.

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>>>> If you have comments, ideas or suggestions on how to make this newsletter more valuable to you, please send them to me at:

EDITOR2023@ARMCHAIRINVESTOR.COM

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Monday was a quiet day showing very small moves for the day in the major indexes and lower volume for them all. Is the market getting into the summer doldrums?

 On the MARKET ACTION (Nasdaq) OVER THE LAST 20 DAYS table below, note the flood of new highs with green highlighted prices  – 4 of the last 6 days hit new highs.

This is what we call a “healthy” uptrend.  

What fun to ride this Uptrend as the major indexes climb back toward the December 2021 -January 2022 all-time highs. I am amazed that the Nasdaq 20-day table below has only 1 Major Distribution (heavy selling) RED day and 1 minor distribution ORANGE day in the last 20 trading days.

Yes,the Nasdaq had 6 down days in the last 20 trading day, but most of them had lighter volume with price boxes in orange. But there were only 6 days consistent with a downtrend 2(higher prices with higher volume)  in the last 20 trading days versus 10 Green Price boxes. The big difference is that only one of the dropping days was red (down 1% or more) versus 5 days that dropped less than 1% compared to 4 Major accumulation days (up 1% or more) and two minor accumulation days (less than 1%rise with higher volume.)

>>>CONCLUSION:TODAY’S Uptrend is in STRONG shape.

Look at the PRICE column in the table below. The Nasdaq has made an impressive 26.7% runup this year from 12,257 on 5/8 to 12,230 today. I think I’m getting a nosebleed from the altitude!  (NOT complaining.)

·      The Nasdaq’s Accumulation rating is a solid B+ again, indicating more of the Nasdaq stocks are rising than falling.

·       The S&P500 has perked up to a B- for the S&P500 and  C- for the DJIA indicating they have about equal sellers and buyers. (I’ve warned you about the weak relative performance of these two indexes.)

·       If you hold some of those lagging indexes (S&P500, DJIA), I hope your position is not too large. I haven’t held the S&P500 in my portfolio this year (actually for a couple of years.) I don’t remember when I last held the DJIA. If you do, I suggest you rethink that strategy. If one of them powerfully turns backup, you can always jump on that winner.

The ACCUMULATION/DISTRIBUTION TABLE

Look at the rightmost column on the Accumulation/Distribution table below. The percent of stocks with A or  B ratings is staying in a healthy 40% for more on most days.

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

                                 Editor2023@armchairinvestor.com

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Wishing you, “Many Happy Returns.”

Charlotte Hudgin, The Armchair Investor,  

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

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