Is A Bull Market Starting at Least in the NASDAQ?

Tom Gentile

Posted in
Daily Report

By: Tom Gentile
May 9th, 2023

3 mins read

You might not get too excited to read the NASDAQ closed the day of trade up 0.2% on the day.

What if we told you this had the NASDAQ closing up 20% from its closing December 28 of 2022 low?

You might be at least encouraged by that last piece of information if you are aware of what that signifies.

If not let us tell you.

Bull or Bear Market Defined

Based on the metric/criteria used by Dow Jones Market Data a gain of 20% from a recent low signals the start of a bull market.  A drop of  20% (from a recent high) signals the start of a bear market. Based off that info one can deem the markets are always in either a bull or bear market.

This information isn’t agreed upon across the board by everyone.

Feel free to read up on your own by what metrics and from who provides their data to assess bull or bear market qualifications and act accordingly.

Maybe the form you are with has their assessment of what qualifies for a bull or bear market that sets the tone for your investing and options trading activity.

Prior to today the NASDAQ was in a deemed bear market for 143-days.  The only longer period of time we know about is data retrieved from that said the longest bear market for the NSADAQ was 218 days.  That losing streak ended in 2008.

As for the Dow and the S&P 500

The Dow Jones Industrial Average ended its bear market condition back in November of 2022.

The S&P 500 is still considered to be in a bear market from last year.

Everyone is inclined to have their own assessment and we don’t disparage anyone their opinion.

Today we are providing the Morning Report Lists to show where options traders are hanging out.

The ticker symbols in the lists show securities in both the Dow and the NASDAQ (stocks in the Dow are very likely to be included in the S&P500), but the way to distinguish those in the NASDAQ is to note the number of letters in the ticker symbol.

Any security with a ticker that has 4 or more letters is in the NASDAQ.

Isolate those from these lists and you have a starting point of stocks to research for bullish opportunities should you consider the NASDAQ now in a bull market.

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