“Trade what you see; not what you think.” – The Old Fool, Richard McCranie, trader extraordinaire.
“Never, never, never, believe any war will be smooth and easy, or that anyone who embarks on that strange voyage can measure the tides and hurricanes he will encounter. The Statesman who yields to war fever . . . is no longer the master of policy but the slave of unforeseeable and uncontrollable events.” - Winston Churchill.
The legislation, part of the National Popular Vote Interstate Compact, passed mostly along party lines with Democrat votes. It requires 270 electoral votes from participating states to take effect.
Once activated, your individual vote in Virginia (and other compact states) would be overridden by the nationwide popular vote total.
This is a radical attempt to bypass the Electoral College and diminish the power of individual states.” – David J Harris Jr., from a Facebook post.
“The Electoral College prevents presidential candidates from winning an election by focusing solely on high-population urban centers and dense media markets, forcing them to seek the support of a larger cross-section of the American electorate. This addresses the Founders’ fears of a “tyranny of the majority,” which has the potential to marginalize sizeable portions of the population, particularly in rural and more remote areas of the country.
Large cities like New York City and Los Angeles should not get to unilaterally dictate policies that affect more rural states, like North Dakota and Indiana, which have very different needs. These states may be smaller, but their values still matter—they should have a say in who becomes President…While no system can completely eliminate the risk of individuals trying to cheat the system, the Electoral College minimizes the incentives for voter fraud because the system isolates the impact of stolen votes. Under the current system, stolen votes only affect the outcome of one state rather than the national outcome. This is because fraudulent votes may win the state, securing the electoral votes, but it would make no difference for the candidate to win that state with 100 stolen votes or 100,000 since the candidate would secure the same electoral votes regardless.5 Under a national popular vote system, though, votes stolen in one state would have an impact beyond that state’s border, since those illegitimate votes would be added to the national vote total.” – Commentary from…
https://www.heritage.org/the-essential-electoral-college/the-benefits
“U.S. applications for unemployment benefits in the week ending June 13 dropped by 4,000 to 226,000, the Labor Department reported Thursday.” Story at…
https://www.fastcompany.com/91561858/u-s-jobless-claims-drop-226000-unemployment-rate-stays-historically-low-4-3
“The Philly Fed said its diffusion index for current general activity shot up to a positive 10.3 in June from a negative 0.4 in May, with a positive reading indicating growth.” Story at…
https://www.rttnews.com/3661267/philly-fed-index-jumps-back-into-positive-territory-in-june.aspx
LEADING ECONOMIC INDICATORS (Conference Board)
"The Leading Index for the US increased slightly in May, fueled entirely by positive contributions from financial components, especially stock prices and the interest rate spread," said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board. "On the non-financial side of the LEI, only ISM® New Orders Index showed some strength, with consumer expectations remaining a major drag. Despite two consecutive monthly increases, the LEI's six- and twelve-month growth rates were still negative, suggesting slower economic expansion ahead…The Conference Board is currently projecting 1.8% y/y GDP growth in 2026, down from 2.1% in 2025." Press release at…
https://www.prnewswire.com/news-releases/the-conference-board-leading-economic-index-lei-for-the-us-rose-for-the-second-consecutive-month-in-may-302804403.html
-Thursday the S&P 500 rose about 1.1% to 7501.
-VIX declined about 11% to 16.40.
-The yield on the 10-year Treasury declined to 4.457% (compared to about this time prior market day).
QLD – Added 5/28/2026
NVDA – Added 12/1/2025 & 2/6/2026
“According to the 54 analysts' twelve-month price targets for NVIDIA, the average price target is $278.73. The highest price target for NVDA is $360.00, while the lowest price target for NVDA is $205.00.”- MarketBeat at…
https://www.marketbeat.com/stocks/NASDAQ/NVDA/forecast/
XLK – Added 6/5/2026
At the close today, of the 50-Indicators I track, 12 gave Bear-signs and 13 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 from -2 to +1 (1 more Bull indicator than Bear indicators), still a NEUTRAL indication. I consider +5 to -5 the neutral zone. The 10-dMA curve of the spread (purple on the chart above) that smooths daily fluctuations continued down, a BEARISH sign that is more important than the daily numbers.
I have to be neutral now, but I am still expecting indicators to turn bullish soon.
TODAY’S RANKING OF 15 ETFs (Ranked Daily) ETF ranking follows:
*For additional background on the ETF ranking system see NTSM Page at…
http://navigatethestockmarket.blogspot.com/p/exchange-traded-funds-etf-ranking.html
For more details, see NTSM Page at…
https://navigatethestockmarket.blogspot.com/p/a-system-for-trading-dow-30-stocks-my_8.html
I trade about 15-20% of the total portfolio using the momentum-based analysis I provide here although I don’t trade as much as I used to. 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.
