“After Yuri Bezmenov, a KGB agent working in the media, defected in 1970, he revealed the four stages by which the Soviets hoped to bring about revolutionary change in the U.S. It began with undermining our institutions and values, with the help of journalists and academics…
…In a New York Times op-ed — “The Constitution Is Broken and Should Not Be Reclaimed” — law professors Ryan Doerfler of Harvard and Samuel Moyn of Yale called for the nation to “reclaim America from constitutionalism.”
In yet another New York Times editorial, Jennifer Szalai denounced “Constitution worship” and claimed that “Americans have long assumed that the Constitution could save us. A growing chorus now wonders whether we need to be saved from it.”
Berkeley Dean Erwin Chemerinsky insists that it is time to trash the Constitution in favor of “radical changes.”
These voices are seeking to remove all of the moderating elements of our system —the safety features that have produced the world’s most successful and stable republic. They are the very constitutional elements protecting us from the tyranny of the majority, protecting us from ourselves.
Without those protections, we will unleash the self-destructive forces that have been tearing apart other democratic systems since Athens…history has shown that such radical proposals ultimately produce not democracy, but what the Framers called mobocracy. If we let that happen, many Americans will indeed look back at the last 250 years with a tragic sense of nostalgia.” - Jonathan Turley, law professor and the New York Times bestselling author of “Rage and the Republic: The Unfinished Story of the American Revolution.“ Commentary at…
https://jonathanturley.org/2026/07/20/democrats-dismiss-our-constitutional-traditions-as-nostalgia/#more-247218
“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 Federal Reserve released its latest interest rate decision on Wednesday, opting to keep rates at a range of 3.5% to 3.75%. Though markets largely expected the Federal Open Market Committee to stay on hold, recent talk from several officials indicate there’s a sizable constituency to at least consider a hike.” Story at…
https://www.cnbc.com/2026/07/29/fed-meeting-today-live-updates.html
-Wednesday the S&P 500 rose about 0.2% to 7429.
-VIX declined about 2% to 18.21.
-The yield on the 10-year Treasury declined to 4.606% (compared to about this time prior market day).
QLD – Added 5/28/2026
“…the market appears to be pricing Nvidia as though its best growth opportunities are behind it. This is not the first time such a rerating has occurred with Nvidia. In earlier instances when Nvidia's forward P/E contracted amid consolidation or shifting sentiment, subsequent evidence of accelerating revenue and profitability triggered multiple expansions. This pattern is consistent: Once operational results confirm that the company's AI-driven growth is continuing, investors eventually reengage, and the valuation rerates higher… Patient investors who recognize that Nvidia's recent price action reflects investor caution rather than a fundamental deterioration of its thesis can position themselves to benefit from meaningful share price appreciation as the chip giant continues to execute.” – Motley Fool at…
Nvidia stock has only gained 5% so far in 2026. History is crystal clear on where the stock is headed next
At the close today, of the 50-Indicators I track, 15 gave Bear-signs and 7 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.)
“The stock market extended its losses into the late afternoon on Wednesday, July 29, 2026, as investors reacted to the Federal Reserve’s decision to hold interest rates steady at 3.5%–3.75%, a "hawkish hold" that featured three dissenting votes favoring a rate hike, alongside ongoing remarks from Fed Chair Kevin Warsh. Selling pressure was also amplified by surging oil prices following renewed Middle East tensions and a deepening sell-off in AI chip stocks.”
I don’t think the current market action is demonstrating euphoria. Breadth was also reasonably good at the all-time high in June so I think higher highs are ahead. However, it is hard to tell if the current market weakness is done, but there were some bullish signs.
-Wednesday was a statistically significant down-day. That just means that the price-volume move exceeded my statistical parameters. Statistics show that a statistically-significant, down-day is followed by an up-day about 60% of the time. Bottoms almost always occur on/or near Statistically-significant, down-days, but not all statistically-significant, down-days occur at bottoms. Today could be a bottom, especially since Bollinger Bands and RSI were oversold.
I am bearish, but more hopeful now that a bottom is closer than many suspect.
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.
