“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, two of his adult sons and the Trump Organization, along with two of their attorneys, said in a joint filing Friday afternoon that they are appealing Judge Kathleen Williams’ scathing order to the U.S. Court of Appeals for the 11th Circuit. Williams had ruled July 13 that the lawsuit, ostensibly stemming from the leak of Trump’s tax returns by an ex-IRS employee years earlier, was in fact brought to provide “judicial legitimacy for a ‘settlement’ that had no viable basis in law or fact.” Story at…
https://www.cnbc.com/2026/07/31/trump-appeals-irs-lawsuit-blanche-fund.html
“Mr. Montefiore is a man who treats the sweep of history as his own backyard…his new book is titled “The Cauldron: The Making of the Modern Middle East…”
… “I call Gaza a semi-independent ‘statelet,’ and I think that’s important because there’s a pretense now that it was occupied from 2006 to 2023,” Mr. Montefiore says. He points out that since Israel withdrew troops and civilians from Gaza [in 2005] and the Palestinians held elections the following year, Hamas “had had prime minister, ministries, ministers and police.” It also had “what was in effect a formidable army of 40,000 paramilitaries, and it had a foreign policy. It was independent enough to launch a war.” Unlike anywhere else in the world, “it was a base for a military but it eschewed any need to educate or feed its citizens. That was the responsibility of international aid organizations. A very unique arrangement….”
…Mr. Montefiore quotes a Hamas official, Sami Abu Zuhri: “The price of the suffering is worth paying. The benefits are extensive.” Mr. Abu Zuhri added that “the wombs of our women will give birth to twice the number of martyrs.” Israel won “in the pitiful ruins of Gaza,” Mr. Montefiore says. “Hamas won in the West,” in part by controlling the media within Gaza and presenting all losses as civilian, a narrative that proved “irreversible even when Hamas’s allegations were later proven to be untrue.” – Opinion at…
https://www.wsj.com/opinion/we-live-in-a-new-world-of-counterhistory-0156ab8d
“The Manufacturing PMI® registered 55.6 percent in July, 2.3 percentage points above the June figure and the highest reading since May 2022 (55.9 percent). The overall economy continued in expansion for the 21st month in a row.” Report at…
https://www.ismworld.org/supply-management-news-and-reports/reports/ism-pmi-reports/pmi/july/
“U.S. spending unexpectedly fell in June…The Commerce Department's Census Bureau said on Monday that construction spending dipped 0.1%. Construction spending dropped 3.2% on a year-over-year basis in June…Spending on new single-family housing projects fell…3.3% on a year-over-year basis in June.” Story at…
https://www.reuters.com/markets/us/us-construction-spending-unexpectedly-falls-june-2026-08-03/
-Monday the S&P 500 rose about 1.5% to 7601.
-VIX declined about 0.8% to 15.86.
-The yield on the 10-year Treasury declined to 4.686% (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, 3 gave Bear-signs and 18 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 -6 to +15 (15 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 reversed higher, a BULLISH sign.
I’m bullish.
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
DOW STOCKS - TODAY’S MOMENTUM RANKING OF THE DOW 30 STOCKS (Ranked Daily)
For more details, see NTSM Page at…
https://navigatethestockmarket.blogspot.com/p/a-system-for-trading-dow-30-stocks-my_8.html
MONDAY MARKET INTERNALS (NYSE DATA)-
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.
