Spotlight Futures Trend Indices Gain/Loss! Current Up-Date Market comment The Current Market Sunday December 17, 2023 The Markets Last Week ! Closing prices week ending (12/15/23) vs week ending ((12/08/23)            There was 4 new 52-week highs on the indices this past week! The DOW 30 (36,247.87), closed up +2.37 (+0.01%), on the week, making the index off -0.00 (-0.00%) from the 52-week high. The 52wk high" is 36,247.87, set on 12/8/2023. The 52 low is 31,430.00 set on 3/15/23. The Nasdaq (14,403.97) finished the  week up +98.94 (+0.69%) making the index off -00.00 (-0.00%) from the 52-week high. The all time high is 16,212.43, set on 11/22/2021 & the 52 week high is 14,358.02, set on 7/19/2023. The 52 week low is 10,089.00, set on 10/13/22. It took 15 years for the NASDAQ to start reaching new all time highs after the big crash 2000. The SPREAD (77916.08) finished the week up +33.11 (+0.42%), making it off -369.28 (-4.46%) from the 52-week high.   The "all-time" is 8,592.23 set on 11/08/2021.The "52 week high 8,285.36 on 7/31/2023. The 52 week low is 6,425.59, set on 9/30/22.   The SPREAD is the difference between the close  on the NY and the close on the VL Both are basically the same market, with the only exception being about 250 OTC stocks in the VL (the rest, over 1500, are NY listed). It tells us how the two separate markets are currently acting with the VL leaning slightly to the OTC market. The table below shows the closing indices on (9/21/01), the end of the first full week of trading after the Attack on America.     The table below shows the 52 week low, when it expired, the point difference and the % over that low at the closing price on the week.   There is 1 index with less than 10% to fall from the 52 week low this past week vs 1 the week before   The above table shows 1 indices with less than 20% to fall, before breaking the 52 week low, versus 1 the week before.   .   The below figures are % change from closing year-end indices for 2022 and cover this past week versus the week before.   Four indices finished in positive territory "year-to-date" this past week versus 10 the week before and 10 three weeks ago. The NY index has a difference of up (-2.09%) while the VL has a difference of up (+0.28%). This tells us the big OTC stocks outperformed the blue chips for week 3 (more bullish). The difference between these two indices is the SPREAD. The SPREAD climbs when the VL is climbing faster than the NY, and falls when the VL falls faster than the NY. The VL tends to lean more toward the direction of the Nasdaq stocks, or we could say, the big OTC stocks.   The markets tend to climb when the VL beats the NY, and falls when the NY beats the VL.    The SPREAD is "unique" to the Stocks in the Spotlight since we designed it in 1990 by producing an "equal weighted value equation" allowing a better view of the longer term markets when comparing the big OTC stocks to the New York Exchange listed stocks. The SPREAD has been adjusted for the big change of the New York index at the beginning of 2004 . The OTC stocks carried in the VL (the only part of the " SPREAD (NY vs VL)" with OTC stocks in it) are only a couple of hundred of the top OTC stocks, because the majority of the stocks in the VL are NY listed, and none are smaller caps. This means when the VL performs better than the NY it shows more buying in the top OTC stocks, or vice versa. The below figures are the discount to the 52 week high and cover this past week versus the week before.   Five indices set a new 52 week high this past week vs 4 the week before. 620 weeks ago we watched all the indices set a new 52 week high on the same day, but not since. There is 0 indices currently in bear market territory vs 0 the week before. I have always said that when all the indices reach a new high on the same day it will be the top of the current market and it will turn down soon after. This happened on March 26, 2012 and the markets have not been able to accomplish that same thing again. When we look at the indices compared to the 52 week high, we get a look at the shorter picture. However, the discount to the "all-time high" (below) will continue to show the results of the longer term market. More than a 10 percent discount to the 52 week high is "one" definition of a correction. More than a 20 percent discount to the 52 week high is "one" definition of a bear market. The below figures are the discount to the all-time high compared to this past weeks close. More than a 20 percent discount to the all-time high is another definition of a bear market. Using this definition, there is currently 0 indices in bear market territory compared to 0 two weeks ago and 0 three weeks ago. Use caution and buy the bargains! Be sure to visit "The Current Market" for comments about the current market and what to look for this coming week. Clicking on "The Current Market" will take you there!   Be sure to visit "Monthly Gains & Losses" for a look at the past "monthly" performance on the indices going back to 1994. Clicking on the "Index Gains & Losses" will take you there! Be sure to visit our "Spotlight Futures" for a look at metals, oil and currency futures updated weekly. Clicking on the "Spotlight Futures" will take you there! Be sure to visit our weekly "Stocks to Watch" section for brief news headlines and updated buy, sell, hold opinions on several Spotlight favorites from the past. Clicking on the "Stocks To Watch" will take you there!   "If in the right stock, at the right price, the market direction will mean little!"   There is still many negatives in the economy, and the markets, so continue to use caution and stick with value stocks for safety.   Choose wisely! I am J.R. Budke and this is my opinion! MEMBER LIST Click here to join our list and receive stock information via E-mail There is no charge to be a member of the Stocks in the Spotlight The recommendations and updates in this week ahead may include "forward- looking" statements as that term is defined in the Private Security Reform Act of 1995, & therefore are subject to various risks & uncertainties. There can be no assurance that actual results, business conditions, business developments, losses & contingencies, and local & foreign factors will not differ materially from those suggested in the "forward-looking" statements as a result of various factors, including market conditions, competition, advances in technology, acquisitions, potential litigation, personnel changes, capital availability, and all sorts of other factors. Do not make investments based on the material provided in this article. Investors should not make decisions based on any of the material featured here without first consulting with their brokers and/or financial advisors. J.R. Budke was a stock broker from 1981 to 2000, an options principle since 1982 and a branch office manager since 1987. JR became inactive as a stockbroker on 12/31/99. J.R. writes most of the articles and opinions for the Stocks in the Spotlight. 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