The End of the Turkey Surge Is Here

Regular readers know I love technical analysis... For one thing, it forces folks like us to look outside ourselves and avoid getting emotional. [Chaikin PowerFeed]( The End of the Turkey Surge Is Here By Marc Chaikin, founder, Chaikin Analytics Regular readers know I love technical analysis... For one thing, it forces folks like us to look outside ourselves and avoid getting emotional. It's easy to get "stuck" as an investor... The same ideas crop up again and again. So we're often blinded to novelty. Now, I'm not against doing what works. But sometimes, "what works" is something you would never consider on your own. That was the case when [I first wrote about the opportunity in Turkey]( last September... I'm sure some of you who read my original piece thought it was a stretch. After all, foreign markets were in turmoil. And Turkish stocks weren't on most investors' minds. Despite that... the Power Gauge noticed the opportunity. And I couldn't help but share its unusual findings with you. Then, [in early November]( I followed up with an exciting update. The iShares MSCI Turkey Fund (TUR) had soared roughly 35% in about five weeks. At the time, I told readers that technical analysis and the Power Gauge "still feels like magic to me." Although I know all the formulas behind the system, its results can still surprise me. Well, folks... the Turkey surge is coming to an end. Today, we'll take a quick look at how this opportunity has played out since November. And we'll cover why I'm confident that it's now time to look elsewhere in the markets... Recommended Links: [14% Cash Yields... 29% on the Horizon... Plus HUNDREDS of Percent Capital Gains]( It's a golden age for income investors. The very same forces (like inflation and high interest rates) that are making MOST of the market a painful disaster... are serving up the juiciest income yields in many, many years – in quality, low-risk stocks. Dr. David Eifrig just laid out an easy-to-follow plan that could essentially pay for all your retirement expenses. Plus, he shares a FREE, live recommendation that's yielding nearly 8% today... and a whole lot more. [Click here for full details](. [NEW TONIGHT: Get Marc Chaikin's No. 1 Buy Recommendation]( Shortly after today's closing bell, Marc Chaikin will reveal his No. 1 MUST BUY opportunity to act on... a company he expects to perform head and shoulders above the market in the the months to come. ACT NOW to be among the first to get the name and ticker. [Full details here](. In short, the iShares MSCI Turkey Fund smashed the benchmark S&P 500 Index since our first essay last September. Take a look... [Chaikin PowerFeed] TUR soared more than 50% over that span. Meanwhile, the S&P 500 returned about 14%. That's absolutely massive outperformance. Now, take another look at the above chart... Notice that TUR's performance has leveled off in 2023. The exchange-traded fund ("ETF") is actually down about 8% so far this year. And the Power Gauge recognizes what this recent reversal means... Our system moved from "bullish" to "neutral" on TUR in late March. Even worse, the so-called "smart money" is exiting the trade (which we can see using the Chaikin Money Flow indicator). And the ETF is now underperforming the S&P 500... [Chaikin PowerFeed] Folks, this is about as clear of a signal as we could hope for... A little bit of technical analysis helps us see that it's time to move on from Turkey. The Chaikin Money Flow indicator, relative strength, and the Power Gauge rating are all going the wrong way. Could Turkish stocks turn it around? Sure. But I'll be the first to admit that I'm not an expert on these stocks... The power of technical analysis – and the Power Gauge itself – helped us uncover this opportunity last September. So I'm more than happy to use technical analysis today to define the end of this surge, too. Good investing, Marc Chaikin Market View Major Indexes and Notable Sectors # Hld: Bullish Neutral Bearish Dow 30 -0.27% 12 16 2 S&P 500 -0.02% 148 279 72 Nasdaq -0.05% 48 38 14 Small Caps +0.17% 407 991 487 Bonds -0.10% — According to the Chaikin Power Bar, Large Cap stocks are more Bullish than Small Cap stocks. Major indexes are mixed. * * * * Sector Tracker Sector movement over the last 5 days Financial +3.67% Discretionary +3.14% Information Technology +1.68% Industrials +1.45% Materials +1.02% Staples +0.80% Real Estate +0.62% Communication +0.19% Health Care 0.00% Utilities -0.32% Energy -0.34% * * * * Industry Focus Bank Services 9 45 41 Over the past 6 months, the Bank subsector (KBE) has underperformed the S&P 500 by -34.21%. Its Power Bar ratio, which measures future potential, is Very Weak, with more Bearish than Bullish stocks. It is currently ranked #17 of 21 subsectors and has moved up 1 slot over the past week. Indicative Stocks [rating] CBSH Commerce Bancshares, [rating] BOH Bank of Hawaii Corpo [rating] WFC Wells Fargo & Compan * * * * Top Movers Gainers [rating] FRC +12.64% [rating] ISRG +10.88% [rating] ABT +7.82% [rating] UAL +7.50% [rating] ZION +7.42% Losers [rating] CDW -13.23% [rating] ELV -5.33% [rating] HPE -5.20% [rating] MOH -4.56% [rating] CSCO -4.51% * * * * Earnings Report Reporting Today Rating Before Open After Close AXP, DHI, PM PPG ALK, FITB, GPC, HBAN, MMC, NUE, SNA, T, UNP CMA, CSX, STX, WRB KEY, POOL, TFC No earnings reporting today. Earnings Surprises [rating] LVS Las Vegas Sands Corp. Q1 $0.28 Beat by $0.08 [rating] TRV The Travelers Companies, Inc. Q1 $4.11 Beat by $0.52 [rating] STLD Steel Dynamics, Inc. Q1 $4.01 Beat by $0.42 [rating] IBM International Business Machines Corporation Q1 $1.36 Beat by $0.12 [rating] BKR Baker Hughes Company Q1 $0.28 Beat by $0.02 * * * * 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. © 2023 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.