Time to Pop the Champagne?

We're seeing bullish confirmation. You are receiving this email because you signed up to receive emails from True Market Insiders, rebranding to Sector Edge. [Unsubscribe here]( Keep the emails you value from falling into your spam folder. [Whitelist True Market Insiders](. Forgot your login information? Click [here](. [Image] Weekly Market Update Today is January 27, 2022 Hello and Happy Friday! After today there will be just two trading days remaining in the month of January. And as we’ve mentioned more than once, “as January goes, so goes the year.” So far, I really like our chances of having an outstanding 2023. Bill Spencer Editor-In-Chief True Market Insiders For one thing, this week saw a welcome follow-through to last Friday’s bullish action, when, after a down three days of trading (it was a holiday-shortened week)... the market rallied. This week, all six of our major averages are up. (The image below is from Monday through intraday action on Friday.) Contrast that current weekly view with last week’s action over the holiday-shortened trading week. These results include last Friday’s rally.   How to make the most of your 2023 and beyond with Chris Rowe [Learn more here](   And here’s how the market has performed to date throughout the month of January. Two things from that view bode well for bulls in January and in 2023. The tech-heavy Nasdaq Composite is leading the charge. That says we’re in a “risk on” market and the greed of the giant institutions is shouting down their fear. Also, the second and third spots are taken by, respectively, the Russell 2000 and the S&P 600. Both of those indices serve as proxies for small-cap stocks. The small-caps tend to lead the large caps. So we’re justified in expecting market strength to continue and even grow. (Of course, we’re never justified in getting too big for our britches by “guaranteeing” anything.) Finally, here’s a reason to, if not pop champagne, then at least put it on ice. On Tuesday, January 24, our #1 indicator – the [New York Stock Exchange Bullish Percent Index (NYSE BPI)]( went on a point-and-figure Buy signal. This marked the first time the chart has been on a Buy signal since September 28, 2022. This image is from [an update we published yesterday]( analyzing this new development. A Buy signal on the BPI is a big deal, because it tells us something we need to know, but cannot know if all we do is look at the Dow Jones, the S&P 500, or any of the other major averages. What it tells us is that more stocks are participating in the current rally than participated in the previous rally. We know that’s true because the highest X-box in the new X-column (highlighted at the far right of the image above) is higher than the highest X-box in the previous X-column. The BPI shows the percentage of stocks trading on the NYSE that are currently on point-and-figure Buy signals on their own price charts. For a stock to go on a Buy signal, it has to penetrate a key, historical area of resistance. That is, the buyers of that stock (the bulls) have to overcome (and even overwhelm) the sellers of that stock. We’re seeing that happen with more and more of the 2,800 stocks on the New York Stock Exchange. And, again, the fact that it’s happening now bodes well for 2023. But don’t pop that champagne, but do keep it chilled. I suspect we’re going to want it as we move deeper into the new year. ***************************** We're Putting a Stop to It! The reason "insiders" make so much money in the stock market is NOT because they're smarter than you. No, the reason is that they KNOW things you and I don't know. And the reason for THAT is because, being “insiders” means they get to SEE things you and I don't see. Well... no more. The insiders’ days of having the market all to themselves are over and done. 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