Armchair Investor Newsletter 2023-12-11M Nasdaq holds at July 2023 High

Armchair Investor Newsletter 2023-12-11M Nasdaq holds at July 2023 High

The Nasdaq is just 11.0% below its all-time high (which means the Nasdaq must rise 11.0% to match the prior high.  I doubt that the Nasdaq will make that run in the next 20days. But  a nice rise between today and the new year would give us a start on a new Uptrend! (Noted by IBD senior writer Ken Shreve)

First, a look at the weekly market to step back and get the current picture:

On the WEEKLY chart above, count the number of rising week we are now in….. We are in the 7^th rising week.  How pleasant is that?

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

Let's look at the daily chart.

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

….A rise to the 2021 market high and then a breakthrough to a new all-time high!

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 if a new Uptrend starts to fail on page 1 of this newsletter.)

Look at the three major indexes above and note:

Although the poor DOW usually just can’t seem to keep up….

Sometimes it surprises me!.

I hope you have followed the TRIPLE QQQ (TQQQ) and are enjoying its amazing gains. Yee How!  159.1% 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) in falling markets. Why not let the market do the heavy lifting while we just enjoy the gains?

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Back to the second half of the ARMCHAIR INVESTOR NEWSLETTER. Those great tables.  

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

·      Do you like what you see?

November was a STELLER RISE IN TOTAL!Yes, it dropped a bit in the last 6 days.

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 hits a new 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!

Notice the ratings on the Accumulation/Distribution counts are rising nicely. The percent of A ratings just walked higher every week for the last month.

And the total of stocks with A or B ratings (rising stocks) rose in just 4 weeks, from 43% off all stocks to 84%.  WOW! – Just 4 weeks!

>>>> That points to a nicely, consistently rising market!

NOTE THIS WARNING.  Holding onto a falling stock, whether an ETF or the stock of a favorite company, is a quick way to loose your recent gains. If you play individual stocks and ETF’s, play carefully. Use the real returns (daily, weekly, monthly)

>>>> Remember….. down is down!

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.

NOTE:_____EVEN IF CASH IS A VALID POSITION,…in a fast rising market, you should consider holding a position that allows 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!

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!.

I APPRECIATE YOUR CONTRIBUTIONS FOR SUPPORTING THIS NEWSLETTER.  I USUALLY SPEND  MORE THAN 4 HOURS RESEARCHING THE IDEAS IN THIS NEWSLETTER, CALCULATING ALL THE DATA I NEED, WRITING THE TEXT FOR THE NEWSLETTER AND…. FORMATING THE NEWSLETTER.

I WELCOME YOUR COMMENTS ON THE MINOR CHANGES IN TODAY’S NEWSLETTER (as described in the notes.)

Thank you for your kind feedback and ideas. Please keeps ending them.

‍

Charlotte Hudgin

The Armchair Investor

CharlotteDH100@mail.com