“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.
“Democrats are likely to retake the House and maybe the Senate in November, which is reason to ask: What would they do with that power? One emerging answer is that they seem determined to blow up the Supreme Court. Listen to Rep. Hakeem Jeffries, the betting favorite to be the next Speaker of the House. “The Supreme Court is a disgrace,” he said in April. “In the new Congress, we’re going to have to do something about this Supreme Court, and let me be very clear: Everything is on the table—everything to deal with this corrupt MAGA majority.”…
…But what really angers Democrats is that the Supreme Court is no longer a second progressive legislature that can impose policies they can’t get through Congress.” – Editorial Board, WSJ. Opinion at…
https://www.wsj.com/opinion/democrats-promise-to-wreck-the-supreme-court-bdc9a277
My cmt: This is the sort of wacko idea that makes even mostly-rational people vote Republican, even if it means voting for Trump.
“Where we are today is frightening,” Ahamed, the Pulitzer Prize-winning author of Lords of Finance: The Bankers Who Broke the World, told Fortune in an interview. The historian, whose landmark 2009 book chronicled how four central bankers helped cause the Great Depression, was speaking about America’s national debt — now hovering around $39 trillion — and the mounting risks he sees in the global financial system…In 2008, at the height of the global financial crisis, then-Treasury Secretary Hank Paulson was in Beijing when he learned that Russia had approached China with a proposal: dump their massive holdings of U.S. agency debt, and accelerate the financial meltdown already underway on Wall Street. “The Chinese very sensibly said no,” Ahamed recounted. But the episode left a mark on him. If the next financial crisis played out against the backdrop of extreme tension with China, he added, “you could imagine a lot of things happening that would not be … that would not work out.” …
… “That’s essentially what happened between Germany and France in 1873. And it damaged the world for 20 years.”
After defeating France in the Franco-Prussian War of 1870–71, as explained in the book (and which this author would recommend checking out), Germany sought to press its advantage financially — deliberately targeting France’s silver reserves in a bid to destroy its economic standing. The move triggered a global collapse of silver prices, froze half the world’s precious metal reserves, and helped ignite the cascading crises of 1873. The resulting depression lasted two decades… Could China do the same to the United States, at a moment when Washington is least able to absorb it?” Story at…
‘Where we are today is frightening’: A Pulitzer-winning historian sees a doomsday scenario involving China and the national debt
“Private hiring expanded at a brisk pace in May, providing further indication of a stable labor market, ADP reported Wednesday.
The payrolls processing firm said companies added 122,000 workers for the month, up from 105,000 in April…” Story at…
https://www.cnbc.com/2026/06/03/adp-jobs-report-may-2026-payrolls-increase-by-122000.html
“This month’s reading of 54.5 not only exceeds expectations but also points to a robust pace of growth within the sector. Such a performance is generally perceived as a positive signal for the U.S. economy, reflecting increased demand and activity across various service-oriented industries.” Story at…
https://m.investing.com/news/economic-indicators/ism-nonmanufacturing-pmi-surpasses-expectations-signals-growth-93CH-4724603?ampMode=1
-Wednesday the S&P 500 declined about 0.7% to 7554.
-VIX rose about 2% to 16.06.
-The yield on the 10-year Treasury rose to 4.481% (compared to about this time prior market day).
QLD – Added 5/28/2026
“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/
At the close today, of the 50-Indicators I track, 7 gave Bear-signs and 17 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 declined from +16 to +10 (10 more Bull indicators than Bear indicators), a BULLISH 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 higher, a BULLISH sign that is more important than the daily numbers.
I am cautiously bullish, but markets are due for a pause. FOMO (Fear of Missing Out) has been the pattern and it may start up again so the pause may be short – we’ll see.
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.
