“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.
TRUMP HAS A PLAN TO “EXPUNGE” IMPEACHMENTS (WSJ)
“President Trump and his allies have discussed pushing lawmakers to pass a resolution aimed at voiding his first-term impeachments, according to people familiar with the matter…“It should be done because I did nothing wrong,” Trump said when asked about the resolution in a phone call this week with The Wall Street Journal. “It was a rigged deal—it was a whole rigged situation.”…
… “It’s an absurd idea,” [expunging the impeachment] said Michael Gerhardt, a law professor at the University of North Carolina at Chapel Hill. “It’s in the history books…” Story at…
https://www.wsj.com/politics/elections/trump-and-allies-are-working-on-plan-to-expunge-impeachments-49ee2874
MY cmt: Trump says, “I DID NOTHING WRONG”?? So, his efforts to steal the 2020 election by attempting to place false electoral college representatives in the election certification process were nothing? Trump bullied Mike Pence not to certify the 2020 election to illegally throw the election into the House of Representatives where the Republicans (if they all went along) could install Trump as President even though he lost the election – that was nothing??!! The Jan 7th riots were designed to break up the election certification since Pence had ignored Trump’s threats and followed the Constitution. There were phone calls between the Proud Boys and the White House before and during the riots. Although we don’t know the content of those calls, it is circumstantial evidence that Trump and his cronies were involved in a last-ditch effort to break up the election certification - that was nothing??!!
Trump wrote a letter to the WSJ claiming the Pennsylvania
election was stolen. Here’s my response published by the WSJ in 2021.”
Readers to President Trump: Knock It Off
His claims of election fraud aren’t true and undermine our democracy.
Oct. 29, 2021 3:28 pm ET
A billboard about the 2020 election in Times Square in New York.
PHOTO: EDUARDO MUNOZ/REUTERS
“President Trump and his allies have discussed pushing lawmakers to pass a resolution aimed at voiding his first-term impeachments, according to people familiar with the matter…“It should be done because I did nothing wrong,” Trump said when asked about the resolution in a phone call this week with The Wall Street Journal. “It was a rigged deal—it was a whole rigged situation.”…
… “It’s an absurd idea,” [expunging the impeachment] said Michael Gerhardt, a law professor at the University of North Carolina at Chapel Hill. “It’s in the history books…” Story at…
https://www.wsj.com/politics/elections/trump-and-allies-are-working-on-plan-to-expunge-impeachments-49ee2874
MY cmt: Trump says, “I DID NOTHING WRONG”?? So, his efforts to steal the 2020 election by attempting to place false electoral college representatives in the election certification process were nothing? Trump bullied Mike Pence not to certify the 2020 election to illegally throw the election into the House of Representatives where the Republicans (if they all went along) could install Trump as President even though he lost the election – that was nothing??!! The Jan 7th riots were designed to break up the election certification since Pence had ignored Trump’s threats and followed the Constitution. There were phone calls between the Proud Boys and the White House before and during the riots. Although we don’t know the content of those calls, it is circumstantial evidence that Trump and his cronies were involved in a last-ditch effort to break up the election certification - that was nothing??!!
Readers to President Trump: Knock It Off
His claims of election fraud aren’t true and undermine our democracy.
Oct. 29, 2021 3:28 pm ET
A billboard about the 2020 election in Times Square in New York.
PHOTO: EDUARDO MUNOZ/REUTERS
"Regarding “President Trump Responds on Pennsylvania” (Letters, Oct. 28):
In 2020, former President Trump lost Wisconsin, Arizona, Georgia, Michigan and
Pennsylvania—all states he won in 2016. To have won in 2020, Mr. Trump needed
three of those states including Pennsylvania or four of them without Pennsylvania.
Adding Pennsylvania alone wouldn’t have changed the result.
In Wisconsin, as the Milwaukee Journal Sentinel reported, “Recounts that Trump sought in Milwaukee and Dane
counties yielded additional votes for Biden, slightly widening his margin.
Trump and his allies turned to the courts, which issued eight rulings against
them over 12 days in December. Among those ruling against Trump’s side were the
U.S. Supreme Court, the state Supreme Court and a federal judge appointed by
Trump.”
In Arizona, your editorial “Trump Loses Arizona—Again” (Sept. 27) presents the facts: “The
GOP state Senate launched an ‘audit’ by hiring Cyber Ninjas. . . . A hand
recount of Maricopa County’s 2.1 million ballots says that Mr. Biden won the
state by 10,817 votes”—a few hundred more than in the original count.
In Georgia, the Associated Press reports that “a recount requested by President Donald Trump confirmed
once again that Democrat Joe Biden won the
state, and the [Republican] governor then recertified the state’s 16
presidential electors. ‘We have now counted legally cast ballots three times,
and the results remain unchanged,’ Secretary of State Brad Raffensperger said.”
In Michigan, take it from the official Republican-led
state Senate report on the election: “This Committee found no evidence
of widespread or systematic fraud in Michigan’s prosecution of the 2020
election.”
Finally, in Pennsylvania, “Multiple official audits and
court proceedings have uncovered no proof of widespread fraud in Pennsylvania,
a state Joe Biden won by more than 80,000 votes,” reports Slate. Pennsylvania is the one state where there
were legitimate questions: Election officials allowed certain votes to be
counted that did not meet Pennsylvania state law. The case was sent to the U.S.
Supreme Court, which refused to hear it and the number of votes in question
would not have altered the state’s outcome.
What Mr. Trump fails to understand is that his claims of
election fraud undermine our democracy, are seditious and have turned off
thinking Republicans and independent voters. I will never vote for him again.
Even if he manages to get nominated in 2024, he can’t win a general election." - published by WSJ, 29 Oct 2021.
MY POST SCRIPT: I wrote in 2021, “…he [Trump] can’t win a
general election.” Wow! Talk about wrong! How was I to know the Democrats would
run an incompetent, far-left ticket in 2024? Senator Joe Manchin (WVA) would have wiped the
floor with Trump, but oh, wait, I forgot; the Democrats forced him to resign
from their party because he was too moderate.
CATHIE WOODS SAYS MARKET MISREAD JOBS REPORT (The Street)
“Wood's argument starts with a number most traders skipped past. Productivity growth is running near 3%, she said, while unit labor costs are hovering around 0.5%, in a post on X. Those are not the readings of an inflationary boom. They are the readings you get when output per worker is climbing faster than the cost of that worker...If companies are producing more for every dollar they pay in labor, faster hiring does not have to feed faster inflation. It can feed cheaper goods.” Story at…
Cathie Wood says the market just misread the jobs report
MICHIGAN SENTIMENT (US News)
“Consumer sentiment rose in June as gasoline prices showed a small dip, the University of Michigan said on Friday.
The university’s consumer sentiment index rose 4 points, or 9%, from May to 48.9. That still leaves the mood of consumers 13% lower than it was in January and 19% below where it was a year ago.” Story at…
https://www.usnews.com/news/national-news/articles/2026-06-12/a-dip-in-gas-prices-boosts-consumer-moods-in-june
QUICK MARKET SUMMARY
-Friday the S&P 500 rose about 0.5% to 7431.
-VIX declined about 9% to 17.68.
-The yield on the 10-year Treasury rose to 4.483% (compared to about this time prior market day).
MY TRADING POSITIONS
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
CURRENT SUMMARY OF APPROXIMATELY 50 INDICATORS:
At the close today, of the 50-Indicators I track, 11 gave Bear-signs and 12 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 -7 to +1 (1 more Bull indicator than Bear 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 declined, a BEARISH sign that is more important than the daily numbers. I’d like to see the 10-dMA of the Indicator Spread turn higher – that would be a good bullish sign, but it is a slow signal. The improvement in daily numbers is encouraging.
Breadth improved. Over the last 10-days, more issues have
gone up on the NYSE than have gone down.
The indicator that compares breadth to the S&P 500 is
still bearish; the Index is too far ahead of breadth.
Internals continue to improve as do indicators.
BOTTOM LINE
I am neutral in the short-term, but my guess is that the correction has been cancelled.
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 improved to 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.
“Wood's argument starts with a number most traders skipped past. Productivity growth is running near 3%, she said, while unit labor costs are hovering around 0.5%, in a post on X. Those are not the readings of an inflationary boom. They are the readings you get when output per worker is climbing faster than the cost of that worker...If companies are producing more for every dollar they pay in labor, faster hiring does not have to feed faster inflation. It can feed cheaper goods.” Story at…
Cathie Wood says the market just misread the jobs report
“Consumer sentiment rose in June as gasoline prices showed a small dip, the University of Michigan said on Friday.
The university’s consumer sentiment index rose 4 points, or 9%, from May to 48.9. That still leaves the mood of consumers 13% lower than it was in January and 19% below where it was a year ago.” Story at…
https://www.usnews.com/news/national-news/articles/2026-06-12/a-dip-in-gas-prices-boosts-consumer-moods-in-june
-Friday the S&P 500 rose about 0.5% to 7431.
-VIX declined about 9% to 17.68.
-The yield on the 10-year Treasury rose to 4.483% (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, 11 gave Bear-signs and 12 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 daily, bull-bear spread of 50-indicators improved from -7 to +1 (1 more Bull indicator than Bear 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 declined, a BEARISH sign that is more important than the daily numbers. I’d like to see the 10-dMA of the Indicator Spread turn higher – that would be a good bullish sign, but it is a slow signal. The improvement in daily numbers is encouraging.
I am neutral in the short-term, but my guess is that the correction has been cancelled.
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.
