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The Power Gauge's Take on the Market's Worst Sector

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chaikinanalytics.com

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Wed, Sep 6, 2023 12:48 PM

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Can you name the market's worst-performing sector this year? Even if you don't get the right answer,

Can you name the market's worst-performing sector this year? Even if you don't get the right answer, I bet you can at least get near the bottom. After all, despite an overall "bullish" setup, the market is still grappling with rising interest rates. [Chaikin PowerFeed]( The Power Gauge's Take on the Market's Worst Sector By Vic Lederman, editorial director, Chaikin Analytics Can you name the market's worst-performing sector this year? Even if you don't get the right answer, I bet you can at least get near the bottom. After all, despite an overall "bullish" setup, the market is still grappling with rising interest rates. For example, mortgage rates are soaring. They just hit a 21-year high in August. And that extreme is creating chaos and uncertainty in the housing market. So I wouldn't be surprised if you said real estate. But real estate is not the worst-performing sector. In fact, after a big swing up and down to start the year, the Real Estate Select Sector SPDR Fund (XLRE) is essentially flat in 2023. It's currently the second-worst-ranked sector in the Power Gauge. Today, we're focusing on the only sector with a worse ranking in our system. It's already down 13% in 2023. And as you'll see, this sector remains one we want to avoid right now... Recommended Links: [Surprising Twist Coming for U.S. Stocks]( If you missed the AI rally earlier this year, you can't overlook this new prediction about what happens NEXT to U.S. stocks, which two top analysts are preparing to show you on Tuesday, September 12. [Click here to learn more](. [His System Isolated NVIDIA – Here's His NEXT Buy]( Marc Chaikin's stock-picking system isolated NVIDIA before its massive bull run this year. Now, it just flashed "BUY" on a new A.I. company that no one is talking about yet. It's not a household name... but Marc predicts it could quickly double or triple from here. [Click here for the name and ticker](. In short, utilities is the worst-ranked sector in the Power Gauge. Specifically, it ranks 11th out of 11 sectors in terms of its Power Bar ratio today. Regular Chaikin PowerFeed readers know the Power Bar ratio is a "quick glance" tool... It breaks down all the stocks with Power Gauge rankings within an exchange-traded fund ("ETF"). They're color-coded as "bullish" or better (green), "neutral" (yellow), or "bearish" or worse (red). And with just a glance, we can get our system's overall take on the ETF. In XLU's case, the outlook is grim right now. Take a look... [Chaikin PowerFeed] As you can see, the Utilities Select Sector SPDR Fund (XLU) only features one stock with a "bullish" or better Power Gauge rating today. And 22 stocks in the ETF earn "bearish" or worse grades. When we dig deeper, we see that the Power Gauge's take has been spot-on in 2023... The following chart shows XLU's performance over the past year. The broad market has ripped higher in that period. But it's a different story for XLU. Take a look... [Chaikin PowerFeed] XLU is down about 13% in 2023. And it's down roughly 20% over the past year. Fortunately, the Power Gauge is proving its worth for us as investors. To see what I mean, look at the bottom panel on the above chart... XLU briefly flipped to "bullish" in late December 2022. Then, it did so again this past April and May. But for the most part, "neutral" or "bearish" ratings have prevailed for a year. You'll also notice that the Power Gauge has been almost exclusively "bearish" since mid-May. Since the system flipped to red on May 26, XLU is down around 5%. That's exactly the type of protection we want to see... The Power Gauge watches closely for technical turnarounds. And in hindsight, late December and April and May of this year both could've been the starts of major reversals. But as soon as those false reversals crumbled, the Power Gauge went back to its "bearish" outlook on XLU. And importantly, it kept investors away from this poorly performing sector. XLU's ugly Power Bar ratio and its poor performance this year are a telling combination. And in the end, it makes sense that utilities is the Power Gauge's worst-ranked sector today. That means our system expects the losses to continue. So for now, it's best to avoid XLU and use the Power Gauge to look for better prospects. Good investing, Vic Lederman Market View Major Indexes and Notable Sectors # Hld: Bullish Neutral Bearish Dow 30 -0.55% 13 14 3 S&P 500 -0.43% 146 251 102 Nasdaq +0.13% 49 40 10 Small Caps -2.10% 464 993 475 Bonds -1.42% — According to the Chaikin Power Bar, Small Cap stocks have become somewhat more Bearish than Large Cap stocks. Major indexes are mixed. * * * * Sector Tracker Sector movement over the last 5 days Energy +3.17% Information Technology +1.92% Discretionary +0.20% Financial -0.43% Materials -0.57% Communication -0.83% Industrials -1.16% Real Estate -1.43% Health Care -1.99% Staples -2.04% Utilities -3.41% * * * * Industry Focus Oil & Gas Equipment Services 16 15 0 Over the past 6 months, the Oil & Gas Equipment Services subsector (XES) has underperformed the S&P 500 by -4.67%. However, its Power Bar ratio, which measures future potential, is Very Strong, with more Bullish than Bearish stocks. It is currently ranked #2 of 21 subsectors. Top Stocks [rating] BOOM DMC Global Inc. [rating] WTTR Select Water Solutio [rating] LBRT Liberty Energy Inc. * * * * Top Movers Gainers [rating] TSLA +4.69% [rating] CF +4.23% [rating] HAL +2.65% [rating] ORCL +2.52% [rating] OXY +2.49% Losers [rating] DVA -6.16% [rating] PHM -5.74% [rating] ILMN -5.36% [rating] OGN -5.15% [rating] NVR -5.03% * * * * Earnings Report Reporting Today Rating Before Open After Close HCP, PATH CNM CASY, GME CHPT No earnings reporting today. Earnings Surprises [rating] ZS Zscaler, Inc. Q4 $0.48 Beat by $0.05 [rating] GTLB GitLab Inc. Q2 $-0.06 Beat by $0.08 [rating] ASAN Asana, Inc. Q2 $-0.09 Beat by $0.09 * * * * 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.

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