Musk-Trump ... Payroll Report ... Momentum Trading DOW Stocks & ETFs … Stock Market Analysis ...

 

“Solving the debt crisis” – Michael Ramirez, political commentary at...
https://michaelpramirez.com/index.html
 
“I heard Republican Congressman, Chip Roy of Texas, claim the “Big Beautiful Bill” pays for itself through tax cuts and economic growth. What crap. That’s like saying if I buy a new car with a credit card, it will pay for itself because I can now drive to work.  That’s true if I pay off the credit card, but in the case of the Federal budget, the debt is never paid. Congressman, how will the debt be paid? We need to fire all these clowns. It doesn’t matter whether it’s Tax-and-Spend-Democrats or Cut-Tax-and Spend-Republicans; the country is screwed.” – Meade Stith, NTSM.
 
“Trade what you see; not what you think.” – The Old Fool, Richard McCranie, trader extraordinaire.
 
“Far more money has been lost by investors in preparing for corrections, or anticipating corrections, than has been lost in the corrections themselves.” - Peter Lynch, former manager of Fidelity’s Magellan® fund.
 
"This is maybe the most dangerous market of my career, and that includes 1987's crash, that includes the savings and loan debacle market of the early '90s, that includes the 1999 to 2009 lost decade in the S&P 500 in the dot-com bubble. This is the most difficult market of my 45 years." -  Bill Smead, Smead Value Fund (SMVLX).
 
SPACE X WILL DECOMISSION DRAGON SPACECRAFT (CNBC)
“Elon Musk on Thursday said that his company SpaceX will begin decommissioning its Dragon spacecraft “immediately” because of threats by President Donald Trump to cancel government contracts with Musk’s businesses. Musk’s announcement, on his social media site X, came amid an escalating war of words with Trump that began after the Tesla CEO criticized the major tax bill being pushed by the Republican president. “In light of the President’s statement about cancellation of my government contracts, @SpaceX will begin decommissioning its Dragon spacecraft immediately,” Musk wrote.
https://www.cnbc.com/2025/06/05/musk-trump-spacex-dragon-nasa.html
My cmt: It was the Dragon spacecraft that brought the stranded astronauts back to Earth. It is currently the only way to get US astronauts to the International Space Station.
 
MUSK CALLS FOR TRUMP TO BE IMPEACHED (The Guardian)
“Elon Musk called for Donald Trump to be impeached after mocking his connections to the convicted sex offender Jeffrey Epstein, as the president threatened to cancel federal contracts and tax subsidies for Musk’s companies in an extraordinary social media feud on Thursday... In the most churlish moment of the astonishing saga, Musk said on X the reason the Trump administration had not released the files into Epstein was because they implicated the president. He later quote-tweeted a post calling for Trump to be removed and said Trump’s tariffs would cause a recession.” Story at...
Musk calls for Trump to be impeached as extraordinary feud escalates
My cmt: Musk for President! Unfortunately, he was not born in the USA.
“In the most recent Economist/YouGov Poll, 76 percent of Republicans viewed Musk favorably, compared to just 18 percent who viewed him unfavorably. A late April, New York Times/Siena College poll placed his favorability rating among Republicans at 77 percent.” From...
The Polling on Elon Musk Is a Warning for Republicans
 
PAYROLL REPORT (CNBC)
“Hiring decreased just slightly in May even as consumers and companies braced against tariffs and a potentially slowing economy, the Bureau of Labor Statistics reported Friday. Nonfarm payrolls rose 139,000 for the month, above the muted Dow Jones estimate for 125,000 and a bit below the downwardly revised 147,000 that the U.S. economy added in April... The unemployment rate held steady at 4.2%.” Story at.. 
https://www.cnbc.com/2025/06/06/jobs-report-may-2025.html
My Cmt: This was good news because numbers were better than expected.
 
MARKET REPORT / ANALYSIS
-Friday the S&P 500 rose about 1% to 6000.
-VIX fell about 9% to 16.77.  (VIX fell nearly 10%! The Options Guys say ‘All Clear’.)
-The yield on the 10-year Treasury rose to 4.506% (compared to about this time prior market day).
 
MY TRADING POSITIONS:
SPY – added 6/5/2025
 
CURRENT SUMMARY OF APPROXIMATELY 50 INDICATORS:
Today, of the 50-Indicators I track, 4 gave Bear-signs and 18 were Bullish. The rest are neutral. (It is normal to have a lot of neutral indicators since many of the indicators are top or bottom indicators that will signal only at extremes.)

TODAY’S COMMENT
The daily, bull-bear spread of 50-indicators improved and remained an extremely Bullish +14 (14 more Bull indicators than Bear indicators). I consider +5 to -5 the neutral zone. The 10-dMA of the spread is moving higher – a bullish sign.
 
The day of reckoning is coming. My AI search said that a day of reckoning “is not inherently ‘bad’ but rather signifies a period where actions and their outcomes are made clear.” The day of reckoning for the stock market is the prior all-time high. When the S&P 500 get’s to its prior all-time high we’ll get some important information about the rally.  If breadth is good, the rally is likely to continue.  
 
The S&P 500 is about 2.3% below its all-time high of 6144 on 19 February so we may not have long to wait.
 
BOTTOM LINE
I am Bullish. Let’s see what indicators are telling us at the all-time high, assuming the S&P 500 get’s there.
 
ETF - MOMENTUM ANALYSIS:
TODAY’S RANKING OF 15 ETFs (Ranked Daily) ETF ranking follows:
 

The top ranked ETF receives 100%. The rest are then ranked based on their momentum relative to the leading ETF.
*For additional background on the ETF ranking system see NTSM Page at…
http://navigatethestockmarket.blogspot.com/p/exchange-traded-funds-etf-ranking.html
 
DOW STOCKS - TODAY’S MOMENTUM RANKING OF THE DOW 30 STOCKS (Ranked Daily)

The top ranked Stock receives 100%. The rest are then ranked based on their momentum relative to the leading Stock.
For more details, see NTSM Page at…
https://navigatethestockmarket.blogspot.com/p/a-system-for-trading-dow-30-stocks-my_8.html
 
FRIDAY MARKET INTERNALS (NYSE DATA)

My basket of Market Internals remained BUY. (My basket of Market Internals is a decent trend-following analysis that is most useful when it diverges from the Index.) 
 
 
 

My current invested position is about 50% stocks, including stock mutual funds and ETFs. 50% invested in stocks is a normal, conservative position. (75% is my max stock allocation when I am confident that markets will continue higher; 30% in stocks is my Bear market position.)
                                             
I trade about 15-20% of the total portfolio using the momentum-based analysis I provide here. When I see bullish signs, I add a lot more stocks to the portfolio, usually by using an S&P 500 ETF as I did back in October 2022 and 2023.