This 'Shoeshine Boy' Spots Market Tops

Just before the 1929 market crash, John F. Kennedy's father stopped to get his shoes cleaned... [Chaikin PowerFeed]( This 'Shoeshine Boy' Spots Market Tops By Pete Carmasino, chief market strategist, Chaikin Analytics Just before the 1929 market crash, John F. Kennedy's father stopped to get his shoes cleaned... But the enthusiastic, young shoeshine boy wanted to offer something more – stock tips. That's all Joe Kennedy needed to hear. In his mind, nothing could indicate a market top better than unsolicited stock advice from a shoeshine boy. The legend says Joe immediately got out of the market. Then, he "shorted" it and got filthy rich. True or not, this story is an investor favorite for good reason. It sends an important warning about market manias. Put simply... a top is near when the proverbial "shoeshine boys" get in on the action. That's important to remember right now... You see, whether it was intended or not, global investing giant VanEck created a modern-day shoeshine boy investment. And as you'll see, it called the most recent market top. Let's take a closer look... Recommended Links: [Crash expert warns of huge May 25 event]( He called the exact days of the 2022 sell-off and the 2020 crash. Now, he's predicting an "aftershock" on May 25 that could lead to a 50% decline. What's coming next could cost you serious losses. OR... with one move by May 25, you could set yourself up to potentially double your money 10 times... without touching a single stock. [Click here to learn more](. [Here's Your Plan for 10% Inflation]( Stocks have been falling all year. But no matter how far they continue to drop, out-of-control inflation is already wreaking havoc on your hard-earned savings. It's at the highest level in 40 years... and could soon surge past 10%. But there's ONE group of stocks that could protect your savings and likely outperform everything else for the next 5-10 years... including a unique gold play that could soar 1,500%. [Click here for the complete inflation protection story](. The VanEck Social Sentiment Fund (BUZZ) launched in March 2021. The idea behind the exchange-traded fund ("ETF") is easy to understand. It invests in 75 mid- to large-cap stocks based on the amount of hype they're getting on social media. And it's based on the Buzz NextGen AI U.S. Sentiment Leaders Index... To be considered for the index, companies need a market cap of at least $5 billion. They also need consistent and diverse mentions on social media over the previous year. From there, any stocks that meet the criteria are ranked. The top 75 go into the index. The idea is to use crowd sentiment to find good companies. Essentially, it becomes a momentum index. In short, the index and related ETF are the collective shoeshine boy... The index's creators use artificial-intelligence ("AI") tools to track websites like Twitter and StockTwits. These AI bots decipher between good and bad phrases relating to stocks. But it's an interesting choice, to say the least... On Twitter, 50% of users don't have a college degree. I'm willing to bet that a much higher percentage don't even know investing basics. Plus, 92% of posts come from 10% of users. So there you go... That's your BUZZ Investment Committee. It's no surprise that the ETF is effectively a "meme stock" fund. Its largest initial holdings included Twitter (TWTR), DraftKings (DKNG), Meta Platforms (FB), and Tesla (TSLA). Investors couldn't get enough when BUZZ launched in March 2021. Its assets quickly skyrocketed to more than $500 million. But the good times didn't last long... Today, the ETF only boasts about $75 million in assets. And more importantly, this proverbial shoeshine boy called the latest market top. Look at how BUZZ sputtered out shortly before the broad market took a nose dive... [Chaikin PowerFeed] The ETF is down roughly 48% from its November 2021 peak. And now, the S&P 500 Index is down around 16% from its all-time high back in January. That tells us the shoeshine boy indicator worked yet again. The moral of the story is simple... A bear market was all but guaranteed when BUZZ launched. But now, this tool directly measures the proverbial shoeshine boy for us. As a result, you'll want to keep an eye on it. Good investing, Pete Carmasino Market View Major Indexes and Notable Sectors # Hld: Bullish Neutral Bearish Dow 30 +0.18% 5 20 5 S&P 500 -0.37% 77 308 109 Nasdaq -1.16% 9 68 22 Small Caps -0.45% 178 1189 525 Bonds -0.10% Energy +2.64% 15 6 0 — According to the Chaikin Power Bar, Small Cap stocks are more Bearish than Large Cap stocks. Major indexes are mixed. * * * * Top Movers Gainers [rating] OXY +5.68% [rating] NRG +4.21% [rating] HAL +4.07% [rating] CEG +3.63% [rating] MRO +3.63% Losers [rating] TWTR -8.18% [rating] SBNY -7.09% [rating] EXPE -6.02% [rating] ETSY -5.93% [rating] TSLA -5.88% * * * * Earnings Report Reporting Today Rating Before Open After Close HD, WMT KEYS No earnings reporting today. Earnings Surprises [rating] WIX Wix.com Ltd. Q1 $-0.72 Missed by $-0.11 [rating] TTWO Take-Two Interactive Software, Inc. Q4 $1.18 Beat by $0.15 * * * * Sector Tracker Sector movement over the last 5 days Energy +9.01% Health Care +2.48% Communication +1.38% Staples +0.80% Materials +0.65% Real Estate 0.00% Utilities -0.03% Industrials -0.26% Information Technology -0.36% Discretionary -1.57% Financial -1.86% * * * * Industry Focus Bank Services 0 72 27 Over the past 6 months, the Bank subsector (KBE) has underperformed the S&P 500 by -5.75%. Its Power Bar ratio, which measures future potential, is Very Weak, with more Bearish than Bullish stocks. It is currently ranked #20 of 21 subsectors and has moved up 1 slot over the past week. Indicative Stocks [rating] NYCB New York Community B [rating] RKT Rocket Companies, In [rating] LKFN Lakeland Financial C * * * * You have received this e-mail as part of your subscription to PowerFeed. If you no longer want to receive e-mails from PowerFeed, [click here](. You’re receiving this e-mail at {EMAIL}. For questions about your account or to speak with customer service, call [+1 (877) 697-6783 (U.S.)](tel:18776976783), 9 a.m. - 5 p.m. Eastern time or e-mail info@chaikinanalytics.com. Please note: The law prohibits us from giving personalized investment advice. © 2022 Chaikin Analytics, LLC. All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from Chaikin Analytics, LLC. 201 King Of Prussia Rd., Suite 650, Radnor, PA 19087. [www.chaikinanalytics.com.]( Any brokers mentioned constitute a partial list of available brokers and is for your information only. Chaikin Analytics, LLC, does not recommend or endorse any brokers, dealers, or investment advisors. Chaikin Analytics forbids its writers from having a financial interest in any security they recommend to our subscribers. All employees of Chaikin Analytics, LLC (and affiliated companies) must wait 24 hours after an investment recommendation is published online – or 72 hours after a direct mail publication is sent – before acting on that recommendation. This work is based on SEC filings, current events, interviews, corporate press releases, and what we've learned as financial journalists. It may contain errors, and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.