Plenty of unsettling news could've wrecked the market in recent weeks...
But instead, stocks keep building on the uptrend that began in April.
I'm sure you've seen some of the negative headlines...
Several weeks ago, the media sounded the alarm on rising bond yields. And a lot of investors worried about high government spending.
Then, protests in Los Angeles made national news. You probably saw the coverage of the National Guard in the city.
And then, a war broke out between Israel and Iran. The U.S. got involved with bombing Iranian nuclear sites. Iran then launched missiles at a U.S. military base in Qatar, which were intercepted.
If you only watched the news, you would think all this chaos would crush the market...
And yet, the S&P 500 Index has been soaring. It hit a new all-time high on Friday.
The index is up an incredible 24% from the market bottom in April. Year to date, it's now up about 5%.
Folks, the uptrend has continued for a simple reason...
Stocks Have More Room to Run
The U.S. economy is in solid shape. All the negative headlines didn't change that.
Sure, social unrest and war in the Middle East are unsettling. But on their own, these things don't hurt American businesses until they have material impacts.
To be fair, Iran could have caused a surge in oil prices by attacking shipping routes. But cooler heads prevailed – and both sides agreed to a ceasefire.
Now, both the S&P 500 and the tech-heavy Nasdaq 100 Index are making new highs. And the Power Gauge sees more upside ahead...
Regular readers know that we measure the S&P 500 with the SPDR S&P 500 Fund (SPY) in the Power Gauge. And we measure the Nasdaq 100 with the Invesco QQQ Trust (QQQ).
Today, SPY and QQQ both earn a "bullish" rating in our system.
In fact, SPY has held a "bullish" rating since late May. And QQQ has held a "bullish" rating since earlier the same month.
That's a "double bullish" signal from the Power Gauge. And it's one worth paying attention to.
Again, it means our system sees more upside ahead.
But it's not the only "double bullish" rating from the Power Gauge you need to take note of. And this type is a bit different...
The Power Gauge Is Finding a New Set of Opportunities Today
You see, last week I held a special presentation. In it, I explained that Chaikin Analytics' newest Senior Analyst Joe Austin and I have added a new layer to the Power Gauge.
It's finding new "double bullish" opportunities. And it's spotting market "trapdoors" waiting to catch unsuspecting investors.
In short, it works by looking at the quality of a company's earnings. Specifically, that means looking for the accounting tricks that companies use to manipulate their earnings.
In today's market, that's more important than ever. The broad-market boom is back on.
Tech stocks have been soaring. And we're seeing investors move back to the AI theme that is driving the market higher.
That means now, investors need a tool to sort out the high-quality opportunities... and avoid the low-quality traps. That's exactly what Joe and I have created.
We explain the full details in our free presentation. You can still view it here before it goes offline.
In it, Joe and I also give away the names of two actionable stocks – one to buy right now... and one to avoid.
Folks, the broad market is back in "double bullish" mode. And now it's time to find high-quality "double bullish" stocks.
Good investing,
Marc Chaikin
