“You see, in this world there's two kinds of people, my
friend: Those with loaded guns and those who dig. You dig.” – Blondie, The
Good.
SAD HILL CEMETERY (The Guardian)
“…a group of film fans spent two
years restoring the cemetery to its former glories. The set,
which was built by soldiers in the northern Spanish province of Burgos for
Sergio Leone’s classic 1966 spaghetti western, had been forgotten and reclaimed
by nature until the Sad Hill
Cultural Association stepped in.” Story at…
https://www.theguardian.com/film/2017/jun/22/the-good-the-bad-and-the-ugly-graveyard-back-from-the-dead
“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.
“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.
“There’s a lot of exuberance out there,” Dimon continued.
“But it was in 1972, 1986, 2000, 2007. That doesn’t give me comfort.” – Jamie
Dimon
ANOTHER IMPEACHMENT? (The New Republic)
“It should provide the basis for the first article Democratic Representative Jamie Raskin and his Judiciary Committee draw up. It all has to do with the slush fund. The fund, you’ll recall, was the result of a settlement in a mind-bending legal proceeding in which Trump sued himself: That is, the president of the United States sued the Internal Revenue Service, seeking $10 billion for the (admittedly illegal) leak of some of his tax returns back in 2019. In May, Trump’s Justice Department, led at the time by Blanche as the acting attorney general, settled the suit between Trump the president and Trump’s IRS by establishing a $1.776 billion “anti-weaponization” fund, whose moneys were to go to parties Trump deemed to have been wronged by the deep state—starting of course with Trump himself. It also included a shocking clause granting Trump, his family members, and his companies immunity from prosecution for any tax-related crimes they may have committed before the date of deal.” Story at…
We now have the leading charge in Trump’s next impeachment
My cmt: The Dems would need to take back the House in the upcoming congressional elections to begin impeachment proceedings. The “anti-weaponization” fund was/is an unbelievably outrageous effort by Trump and his cronies. I don’t understand how DOJ has the power to settle this with payments well over a billion dollars. In my opinion, Congress should have been involved, but DOJ disagrees.
“The DOJ asserted that the Attorney General possesses
broad inherent authority under existing federal statutes to settle lawsuits
filed against the United States. The $1.776 billion was slated to be drawn
directly from the U.S. Department of the Treasury Judgment Fund, which is a
perpetual funding mechanism meant to satisfy court judgments and approved
settlements without requiring immediate, individual congressional
appropriations for each case.” - DOJ
“Legal experts and congressional critics argued that
using the Judgment Fund to create a multi-billion-dollar administrative
compensation program for political allies bypassed core congressional oversight
and appropriations powers.” - Congressman Tom Suozzi (D–NY)
QUICK MARKET SUMMARY
-Friday the S&P 500 rose about 0.7% to 7490.
-VIX declined about 6% to 15.99. (That’s a 23% decline in 2 days – a bullish sign.)
-The yield on the 10-year Treasury rose to 4.718% (compared to about this time prior market day).
MY TRADING POSITIONS
QLD – Added 5/28/2026
NVDA – Added 12/1/2025 & 2/6/2026
“…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
XLK – Added 6/5/2026
CURRENT SUMMARY OF APPROXIMATELY 50 INDICATORS:
At the close today, of the 50-Indicators I track, 13 gave Bear-signs and 8 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
Internals were weak today. Declining-issues outpaced advancing-issues; down-volume was higher than up-volume; and New-lows outpaced new-highs. We also note that unchanged-volume was high. That can be a sign of investor confusion. Some think that this suggests a reversal in the markets, but there isn’t much correlation of this opinion. It could be an end of quarter stat caused by portfolio shuffling.
While internals were weak on the day, indicators improved.
The daily, bull-bear spread of 50-indicators improved from -9 to -5 (5 more Bear indicators than Bull indicators), 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.
A couple of important indicators are:
-The McClellan Oscillator indicator is still in negative territory and that keeps the Hindenburg Omen bearish, too. The Oscillator is a breadth indicator so we need to see more new-highs on a daily basis.
-The 5-10-20 Timer indicator remains bearish along with its momentum indicator. If price continues higher, these indicators will improve.
Price improved again as the S&P 500 rose. The S&P
500 climbed 0.2% above its 50-dMA. That’s a good sign, but we still have some
mixed signals. Let’s hope indicators give us a better confirmation of recent
positive moves in the S&P 500.
BOTTOM LINE
I remain neutral.
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 HOLD. (My basket
of Market Internals is a decent trend-following analysis that is most useful
when it diverges from the Index.)
My invested position is about 60%
stocks, including stock mutual funds and ETFs. 50% invested in stocks is a
normal, conservative position for a retiree. (80% 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 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.
SAD HILL CEMETERY (The Guardian)
https://www.theguardian.com/film/2017/jun/22/the-good-the-bad-and-the-ugly-graveyard-back-from-the-dead
“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.
“It should provide the basis for the first article Democratic Representative Jamie Raskin and his Judiciary Committee draw up. It all has to do with the slush fund. The fund, you’ll recall, was the result of a settlement in a mind-bending legal proceeding in which Trump sued himself: That is, the president of the United States sued the Internal Revenue Service, seeking $10 billion for the (admittedly illegal) leak of some of his tax returns back in 2019. In May, Trump’s Justice Department, led at the time by Blanche as the acting attorney general, settled the suit between Trump the president and Trump’s IRS by establishing a $1.776 billion “anti-weaponization” fund, whose moneys were to go to parties Trump deemed to have been wronged by the deep state—starting of course with Trump himself. It also included a shocking clause granting Trump, his family members, and his companies immunity from prosecution for any tax-related crimes they may have committed before the date of deal.” Story at…
We now have the leading charge in Trump’s next impeachment
My cmt: The Dems would need to take back the House in the upcoming congressional elections to begin impeachment proceedings. The “anti-weaponization” fund was/is an unbelievably outrageous effort by Trump and his cronies. I don’t understand how DOJ has the power to settle this with payments well over a billion dollars. In my opinion, Congress should have been involved, but DOJ disagrees.
-Friday the S&P 500 rose about 0.7% to 7490.
-VIX declined about 6% to 15.99. (That’s a 23% decline in 2 days – a bullish sign.)
-The yield on the 10-year Treasury rose to 4.718% (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, 13 gave Bear-signs and 8 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.)
Internals were weak today. Declining-issues outpaced advancing-issues; down-volume was higher than up-volume; and New-lows outpaced new-highs. We also note that unchanged-volume was high. That can be a sign of investor confusion. Some think that this suggests a reversal in the markets, but there isn’t much correlation of this opinion. It could be an end of quarter stat caused by portfolio shuffling.
The daily, bull-bear spread of 50-indicators improved from -9 to -5 (5 more Bear indicators than Bull indicators), 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.
-The McClellan Oscillator indicator is still in negative territory and that keeps the Hindenburg Omen bearish, too. The Oscillator is a breadth indicator so we need to see more new-highs on a daily basis.
-The 5-10-20 Timer indicator remains bearish along with its momentum indicator. If price continues higher, these indicators will improve.
I remain neutral.
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.
