Don't Let the Invisible Bloodbath Cloud Your Vision

Folks, we're in the thick of earnings season... Investors were expecting a bloodbath. After all, many experts believe we're on the edge of a recession. [Chaikin PowerFeed]( Don't Let the Invisible Bloodbath Cloud Your Vision By Marc Chaikin, founder, Chaikin Analytics Folks, we're in the thick of earnings season... Investors were expecting a bloodbath. After all, many experts believe we're on the edge of a recession. Well, the results are starting to come in... Roughly 235 companies in the S&P 500 Index had reported their results in this earnings cycle through Thursday. And they beat expectations by an average of 8%. That's definitely not the bloodbath the naysayers expected. And it gets better... Regular readers know the Power Gauge is now ["very bullish" on the technology sector](. Our system first flipped to a "bullish" rating on this space in early February. The Technology Select Sector SPDR Fund (XLK) is up more than 5% since then. And overall, it's up around 20% so far this year. That's a bull market, folks. We learned the latest earnings results from some of the most important names in tech over the past week. So let's take a closer look today. And more specifically, let's see what the Power Gauge says... Recommended Links: ["This is the absolute BEST value opportunity I've seen in my entire career"]( A specific class of stocks has quietly made countless investors rich for almost a century... and they're now trading at their BEST prices in 15 years. One accomplished analyst explains what to do immediately to avoid missing this rare shot at generational wealth. [Click here to learn more](. [Prepare for a 90-Day Stock Market Shakeup]( It doesn't matter if you have money in stocks right now or are waiting on the sidelines. According to one 50-year Wall Street legend, the short period we're about to enter changes everything. [Click here to learn more](. We'll start with Meta Platforms (META). Facebook's parent company reported its results last Wednesday. The report included its first sales increase in a year. So not surprisingly, Meta Platforms' share price surged at the end of last week. The stock is now up roughly 14% from its pre-earnings level. Now, Meta Platforms has waffled between a "bullish" and "neutral" rating in the Power Gauge over the past few months. But things are looking solidly optimistic today... The company is outperforming the broad market. And our Chaikin Money Flow indicator points to strong persistency from the so-called "smart money." In other words, the company's share-price activity indicates that institutional traders are buying. So it's no surprise that the company earns a "bullish" rating from the Power Gauge today. Meanwhile, Alphabet (GOOGL) reported its latest results last Tuesday... The results weren't incredible for Google's parent company. Growth over the previous quarter came in at a paltry 3%. But importantly, the results beat analysts' expectations. And beyond that, the company is cutting costs and taking the tighter advertising market seriously. That means the company will be at its leanest – and potentially most profitable – point as the economy continues to find its footing. It's getting in position to thrive moving forward. Today, Alphabet earns a "very bullish" rating from the Power Gauge. We'll stop there. I can't give away all of the Power Gauge ratings for the tech sector today. That wouldn't be fair to our paying subscribers. With that said, I can give you a glimpse into the tech sector as a whole... I believe you'll see from the following snapshot that the media's current narrative around this space is disconnected from reality. Sure, the industry is facing a wave of layoffs. And to be honest, they were likely long overdue. But now, many of the biggest names in the tech sector have gotten more efficient. And as a result, they're beating earnings in an admittedly tough market. We still have a few days left of earnings season. But so far, it's hard to see any evidence of the bloodbath the pundits called for... In fact, only three companies in XLK earn a "bearish" or worse rating from the Power Gauge. That strong "bullish" tilt means it's currently the top-ranked sector in our system... [Chaikin PowerFeed] Put simply, the market is full of opportunity. And the tech sector is leading the way. But you can't let the pundits' invisible bloodbath cloud your vision. Sure, some companies are still struggling. That's just how the market works. But today, the Power Gauge is clear. It sees a market flooded with "bullish" potential. It's our job to go out and find the best ways to profit. Good investing, Marc Chaikin Market View Major Indexes and Notable Sectors # Hld: Bullish Neutral Bearish Dow 30 +0.84% 12 15 3 S&P 500 +0.85% 148 275 76 Nasdaq +0.69% 45 45 10 Small Caps +0.88% 0 0 0 Bonds +1.61% Energy +1.55% 1 10 12 — According to the Chaikin Power Bar, Large Cap stocks are more than Small Cap stocks. Major indexes are mixed. * * * * Sector Tracker Sector movement over the last 5 days Communication +3.83% Information Technology +2.08% Real Estate +1.29% Staples +1.14% Discretionary +0.33% Energy +0.18% Financial -0.15% Materials -0.19% Health Care -0.57% Industrials -0.61% Utilities -0.92% * * * * Industry Focus Innovative Technology Services 36 50 14 Over the past 6 months, the Innovative Technology subsector (XITK) has outperformed the S&P 500 by +0.20%. Its Power Bar ratio, which measures future potential, is Strong, with more Bullish than Bearish stocks. It is currently ranked #7 of 21 subsectors and has moved down 1 slot over the past week. Top Stocks [rating] KLAC KLA Corporation [rating] ONTO Onto Innovation Inc. [rating] AMD Advanced Micro Devic * * * * Top Movers Gainers [rating] CHTR +7.57% [rating] MHK +7.21% [rating] RMD +6.95% [rating] CTLT +6.75% [rating] RCL +6.11% Losers [rating] FSLR -9.09% [rating] TMUS -4.03% [rating] AMZN -3.98% [rating] FE -3.21% [rating] DLR -2.56% * * * * Earnings Report Reporting Today Rating Before Open After Close GPN ANET, HOLX, RE, SYK, VRTX BEN, ON, WEC CF, FMC, INVH, L, MGM, NXPI, VICI NCLH FANG, SBAC No earnings reporting today. Earnings Surprises [rating] LYB LyondellBasell Industries N.V. Q1 $2.50 Beat by $0.76 [rating] ARES Ares Management Corporation Q1 $0.71 Missed by $-0.10 [rating] CHTR Charter Communications, Inc. Q1 $6.65 Missed by $-0.90 [rating] XOM Exxon Mobil Corporation Q1 $2.83 Beat by $0.23 [rating] CL Colgate-Palmolive Company Q1 $0.73 Beat by $0.03 * * * * You have received this e-mail as part of your subscription to PowerFeed. 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