French politics are sliding into disarray... Earlier this month, President Emmanuel Macron of France suffered a stinging defeat in the European parliamentary elections when his party won only 15% of the popular vote.

Editor's note: Chaikin Analytics founder Marc Chaikin remains "bullish" on stocks in 2024... That's the crux of his broad election-year thesis. Marc believes the market will keep moving higher as we get closer to election day in November. Presidential-election years have historically been great for the market. But as you might expect, politics can also lead to volatility in the short term... That brings us to today's essay from our friend Sean Michael Cummings. As regular readers know, Sean is an analyst at our corporate affiliate Stansberry Research. This essay first ran in the free DailyWealth e-letter on Tuesday. In it, Sean explains that political volatility doesn't usually last long. And it can be a buying opportunity in disguise... A Surprise Ballot Won't Topple French Stocks By Sean Michael Cummings, analyst, Stansberry Research French politics are sliding into disarray... Earlier this month, President Emmanuel Macron of France suffered a stinging defeat in the European parliamentary elections when his party won only 15% of the popular vote. Macron's rivals, the National Rally party, more than doubled that vote count at 32%. In turn, Macron dissolved France's parliament and called for a snap parliamentary election – something no French president has done since 1997. The first round of voting will be held at the end of June. This turmoil has injected huge volatility into the French stock market... But I wouldn't bet against French stocks based on this political event. In fact, the growing uncertainty surrounding this market could be a major buying opportunity. Recommended Links: Here's What You Missed Last Night There's a massive shift playing out in U.S. stocks – one we've only seen a dozen times before, going all the way back to 1943... and now one Wall Street veteran is warning it'll impact every major stock you can think of, especially Nvidia. Last night, he shared where the stock market's going next... what it could mean for your money in 2024... and the No. 1 investing strategy he's now recommending if you want to protect and grow your wealth in 2024. Wall Street Millionaire Issues Buy Alert on "America's No. 1 Legacy Stock" Whitney Tilson bought AAPL at $0.35, AMZN under $2.50, and NVDA before it soared 1,200%. Recently, he sat down for an exclusive interview, revealing EXACTLY where to put your money this year. It's an investment vehicle he's so confident in, he says he'd put 50% of his kids' inheritance into this stock. You can get the name and ticker symbol, absolutely free, right here. France is facing its "Brexit" moment... In 2016, British voters shocked the world by electing to leave the European Union. Britain's exit (or "Brexit") from the union was an outcome almost no one expected. British stocks reacted violently when the news came to light. We can see this using the iShares MSCI United Kingdom Fund (EWU), which acts as a broad measure of U.K. stock performance. Take a look... As you can see, the Brexit referendum briefly unsettled U.K. stocks... but within a few months, the market was climbing again. The election of Donald Trump had a similar effect on the U.S. market... Virtually no forecasters called for a Trump victory on their 2016 scorecard. And just like Brexit, the result took the market by surprise. Take a look... Stocks dipped as the market digested the surprise. But the uptrend quickly resumed in the months that followed. In short, political volatility is generally short-lived. And it can even provide a great opportunity to go long at a discount. That brings us to the opportunity in French stocks today... France's index was jolted by National Rally's victory. We can see this with the iShares MSCI France Fund (EWQ), a basket of French stocks that reflects the broader French market. EWQ fell around 3.8% in a single day on June 11. And it fell another 3.3% on June 14. Check it out... You can see France's political turbulence reflected in the June sell-off. But as we've learned from Brexit and the 2016 U.S. presidential election, politics rarely move the needle in the long term. What's more, similar crashes have provided a great chance to buy French stocks. To test this, I found every time EWQ had a sell-off of 3% or more in a single day. Then, I tested each of these signals to see what they meant for future returns. Take a look... French stocks have been solid performers since 1996, generating about 4% a year. But that return jumps after the market takes a 3% single-day dive. The signal returned 6% in a typical six-month period... and 14% in a year. That's more than triple the return of a buy-and-hold strategy. In short, investors are underestimating the French market... We'll see more drama in the weeks ahead as the snap election unfolds. But history shows this volatility is a buying opportunity in disguise. This corner of the market is worth your attention today. Good investing, Sean Michael Cummings   Editor's note: Throughout this year's election cycle, Marc has frequently reminded readers to stay calm amid the occasional volatility. In fact, he just went on camera last night to share his latest market outlook with the public... During this special event, Marc covered topics from AI... to the election in November... to how investors can find the best stocks for today's market. He also unveiled his No. 1 favorite stock strategy. As he says, it could be the single most profitable strategy he has ever shared. If you missed the event, you're in luck... You can watch the replay of it and get the full story for yourself right here. Market View Major Indexes and Notable Sectors     # Hld:     Bullish     Neutral     Bearish Dow 30 +0.06% 8 17 5 S&P 500 +0.12% 110 309 78 Nasdaq +0.21% 33 54 13 Small Caps -0.26% 380 1067 447 Bonds -1.43% Consumer Discretionary +1.45% 6 36 10 — According to the Chaikin Power Bar, Small Cap stocks remain somewhat more Bearish than Large Cap stocks. Major indexes are mixed. *  *  *  * Sector Tracker Sector movement over the last 5 days Communication +2.3% Energy +2.2% Discretionary +1.37% Health Care +0.13% Utilities -0.59% Financial -0.61% Staples -0.68% Materials -1.06% Industrials -1.19% Real Estate -1.87% Information Technology -2.23% *  *  *  * Industry Focus Software & Services 35 92 7 Over the past 6 months, the Software & Services subsector (XSW) has underperformed the S&P 500 by -18.97%. However, its Power Bar ratio, which measures future potential, is Very Strong, with more Bullish than Bearish stocks. It is currently ranked #3 of 21 subsectors and has moved up 2 slots over the past week. Top Stocks ACIW ACI Worldwide, Inc. OSPN OneSpan Inc. CVLT Commvault Systems, I *  *  *  * Top Movers Gainers FDX +15.53% ALB +8.1% TSLA +4.81% AMZN +3.9% ALGN +3.56% Losers MRNA -11.01% APTV -7.93% PAYX -6.11% CEG -5.42% GIS -4.59% *  *  *  * Earnings Report Reporting Today Rating Before Open After Close WBA MKC NKE No earnings reporting today. Earnings Surprises MU Micron Technology, Inc. Q3 $0.62 Beat by $0.09 GIS General Mills, Inc. Q4 $1.01 Beat by $0.02 PAYX Paychex, Inc. Q4 $1.12 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 its028@gmail.com. For questions about your account or to speak with customer service, call +1 (877) 697-6783 (U.S.), 9 a.m. - 5 p.m. Eastern time or e-mail info@chaikinanalytics.com. 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