Author

admin

Browsing

They know all about glory days on the Kop – the fabled terrace that is the spiritual home of fans of Liverpool – England’s Premier League champions.

But they’re more used to legends like Kenny Dalglish or Mohamed Salah banging in goals than political cries for help. So, it was surreal to watch alongside thousands of middle-aged Brits as Bruce Springsteen bemoaned America’s democracy crisis on hallowed footballing ground.

“The America that I love … a beacon of hope and liberty for 250 years, is currently in the hands of a corrupt, incompetent and treasonous” administration, Springsteen said at Anfield Stadium on Wednesday night.

The Boss’s latest warnings of authoritarianism on his European tour were impassioned and drew large cheers. But they did seem to go over the heads of some fans who don’t live in the whirl of tension constantly rattling America’s national psyche.

Liverpudlians waited for decades for Springsteen to play the hometown of The Beatles, whose “I Wanna Hold Your Hand” set his life’s course when he heard it on the radio as a youngster in New Jersey.

Most had a H-H-H-Hungry heart for a party. They got a hell of a show. But also, a lesson on US civics.

“Tonight, we ask all of you who believe in democracy and the best of our American experiment to rise with us, raise your voices, stand with us against authoritarianism and let freedom ring!” Springsteen said.

His European odyssey is unfolding as Western democracies are being shaken again by right-wing populism. So, his determination to engage with searing commentary therefore raises several questions.

What is the role of artists in what Springsteen calls “dangerous times?” Can they make a difference, or should stars of entertainment and sports avoid politics and stick to what they know? Fox News polemicist Laura Ingraham once told basketball icon LeBron James, for instance, that he should just “shut up and dribble.”

Springsteen’s gritty paeans to steel towns and down-on-their-luck cities made him a working-class balladeer. But as blue-collar voters stampede to the right, does he really speak for them now?

Then there’s this issue that Springsteen emphatically tried to answer in Liverpool this week: Does the rough but noble America he’s been mythologizing for 50 years even exist anymore?

How Springsteen and Trump mine the same societal ground

Trump certainly wants to bring the arts to heel – given his social media threats to “highly overrated” Springsteen, Taylor Swift and other superstars and his takeover of the Kennedy Center in Washington. Any center of liberal and free thought from pop music to Ivy League universities is vulnerable to authoritarian impulses.

But it’s also true that celebrities often bore with their trendy political views, especially preaching at Hollywood awards ceremonies. Springsteen, however, has been penning social commentary for decades. And what’s the point of rock ’n’ roll if not rebellion? Rockers usually revolt in their wild-haired youth, rather than in their mid-70s, but desperate times call for desperate measures.

Oddly, given their transatlantic dialogue of recent weeks, Trump and Springsteen mine the same political terrain – globalization’s economic and spiritual hollowing of industrial heartlands.

“Now Main Street’s whitewashed windows, And vacant stores, Seems like there ain’t nobody, Wants to come down here no more,” Springsteen sang in 1984 in “My Hometown” long before Trump set his sights on the Oval Office.

The White House sometimes hits similar notes, though neither the Boss nor Trump would welcome the comparison. “The main street in my small town, looks a heck of a lot worse than it probably did decades ago before I was alive,” Trump’s press secretary Karoline Leavitt said rather less poetically in March.

Political fault lines are also shifting. In the US and Europe, the working class is rejecting the politics of hope and optimism in dark times.

And the Democratic politicians that Springsteen supported – like defeated 2004 nominee John Kerry, who borrowed Springsteen’s “No Surrender” as his campaign anthem, and former President Barack Obama – failed to mend industrial blight that acted as a catalyst to Trumpism.

Shifting political landscapes in England and the US

There are warning signs in England too. The Boss’s UK tours often coincided with political hinge moments. In the 1970s he found synergy with the smoky industrial cities of the North. In his “Born in the USA” period, he sided with miners clashing with Prime Minister Margaret Thatcher. A new BBC documentary revealed this week he gave $20,000 in the 1980s to a strikers’ support group.

Liverpool, a soulful, earthy city right out of the Springsteen oeuvre is a longtime Labour Party heartland. But in a recent by-election, Nigel Farage’s populist, pro-Trump, Reform Party overturned a Labour majority of nearly 15,000 in Runcorn, a decayed industrial town, 15 miles upstream from Liverpool on the River Mersey. This stunner showed Labour’s working class “red wall” is in deep peril and could follow US states like Ohio in shifting to the right as workers reject progressives.

Labour Cabinet Minister Lisa Nandy, whose Wigan constituency is nearby, warned in an interview with the New Statesman magazine this month that political tensions were reaching a breaking point in the North.

“People have watched their town centers falling apart, their life has got harder over the last decade and a half … I don’t remember a time when people worked this hard and had so little to show for it,” Nandy said, painting a picture that will be familiar to many Americans.

In another sign of a seismic shift in British politics last week, Reform came a close third in an unprecedented result in a parliamentary by-election in a one-time industrial heartland outside Glasgow. Scotland has so far been immune to the populist wave – but the times are changing.

Still, there’s not much evidence Trump or his populist cousins in the UK will meaningfully solve heartland pain. They’ve always been better at exploiting vulnerability than fixing it. And Trump’s “big, beautiful bill” would hurt the poor by cutting access to Medicaid and nutrition help while handing the wealthy big tax cuts.

“When conditions in a country are ripe for a demagogue, you can bet one will show up,” Springsteen told the crowd in Liverpool, introducing “Rainmaker” a song about a conman who tells drought-afflicted farmers that “white’s black and black is white.” As the E Street Band struck up, Springsteen said: “This is for America’s dear leader.”

A battle for America’s soul

Springsteen has his “Land of Hope and Dreams.” But Trump has his new “Golden Age.” He claims he can “Make America Great Again” by attacking perceived bastions of liberal power like elite universities and the press, with mass deportations of undocumented immigrants and by challenging due process.

Springsteen implicitly rejected this as un-American while in Liverpool, infusing extra meaning into the lyrics of “Long Walk Home,” a song that predates Trump’s first election win by a decade: “Your flag flyin’ over the courthouse, Means certain things are set in stone. Who we are, what we’ll do and what we won’t.”

Sending fans into a cool summer night, the Boss pleaded with them not to give up on his country.

“The America I’ve sung to you about for 50 years now is real, and regardless of its many faults, is a great country with a great people and we will survive this moment,” he said.

But his fight with Trump for America’s soul will go on. The contrast would be driven home more sharply to Americans if he tours on US soil at this, the most overtly politicized phase of a half-century-long career.

Perhaps in America’s 250th birthday year in 2026?

This post appeared first on cnn.com

The Israeli military says it has killed the leader of a Palestinian militant group that took part in the October 7, 2023, terror attacks on southern Israel.

Asaad Abu Sharia, who led the Palestinian Mujahideen Movement and its armed wing the Mujahideen Brigades, was killed in a joint operation with Israel’s Shin Bet security agency, the Israel Defense Forces (IDF) said on Saturday.

His death and that of his brother Ahmed Abu Sharia were confirmed by the militant group hours after Gaza’s Civil Defense reported that an Israeli airstrike had hit their family home in the Sabra area of Gaza City.

Hamas run Al-Aqsa TV said the strike killed at least 15 people and injured several. Video showed people searching through the debris of a demolished four-story house.

The Mujahideen Brigades took part in the October 7 attacks alongside Hamas and other Palestinian terror groups and took hostage some of the most high-profile captives, including a family whose suffering became a symbol of the attack.

According to the Israeli military, Sharia was among the militant leaders who stormed Kibbutz Nir Oz, a small Israeli community near the Gaza border where many residents were killed or taken hostage during the brutal terror assault that led to Israel’s war in Gaza.

Despite not being aware of Hamas’ plans in advance, fighters from the jihadist group joined in the cross-border assault “as an extension of the Hamas attack,” the Israeli military said.

According to Israel, Sharia was directly involved in the abduction and murders of Shiri, Ariel and Kfir Bibas – a family that became one of the most recognizable victims of the attack, partly because of the young ages of Kfir and Ariel, who were nine months and four years old respectively at the time.

Kfir was the youngest hostage kidnapped into Gaza and the youngest to have been killed. The boys’ mother, Shiri, was 32 at the time of her kidnap. Their father Yarden was also captured, but was released alive in February after 484 days in captivity.

Reacting to news of Sharia’s killing, the Bibas family expressed their “heartfelt gratitude” to the Israeli military, saying his death was “another step on the journey towards closure.”

“While Shiri, Ariel, and Kfir cannot be brought back, we find some measure of comfort knowing these despicable murderers will not harm another family,” the Bibas family said in a statement shared via the Hostages and Missing Families Forum.

Israel’s military said Sharia was also involved in the abduction of the Israeli-American couple Gad Haggai and Judi Lynn Weinstein Haggai and the abduction and killing of Thai national Nattapong Pinta.

The Israeli-American couple were killed near their home in Kibbutz Nir Oz during the attack in 2023. The body of Nattapong, an agricultural worker who was abducted alive on October 7, was recovered from southern Gaza in a military operation on Friday.

Israel said it believes the Mujahideen Brigades are still holding the body of an additional foreign national. The group has previously denied killing their captives.

This post appeared first on cnn.com

Colombian senator Miguel Uribe, in the running to join next year’s presidential race, has been shot at an event in Bogota, according to national police.

The mayor of Bogota, Carlos Galán, said Uribe was receiving emergency care after being attacked in the Fontibon district on Saturday and that the “entire hospital network” of the Colombian capital was on alert in case he needed to be transferred.

The mayor added that the suspected attacker had been arrested.

Colombian President Gustavo Petro expressed his solidarity with the senator’s family in a tweet on X, saying, “I don’t know how to ease your pain. It is the pain of a mother lost, and of a wounded homeland.”

Colombia’s government has issued a statement condemning the attack on Uribe.

This is a developing story and will be updated.

This post appeared first on cnn.com

President Donald Trump has escalated his sudden rupture with Elon Musk by implying the government could sever ties with the tech titan’s businesses.

‘The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts. I was always surprised that Biden didn’t do it,’ Trump wrote Thursday on Truth Social.

Various estimates have been put forward about just how much Musk’s firms, primarily SpaceX and Tesla, benefit from U.S. government contracts and subsidies. The Washington Post has put the figure at $38 billion, with SpaceX President and COO Gwynne Shotwell estimating that company alone benefits from $22 billion in federal spending. Reuters has reported that the true figure is classified because of the nature of many of the contracts Musk’s firms are under.

NASA relies on SpaceX to ferry astronauts to and from the International Space Station. The agency’s only other option at the moment is to pay around $90 million for a seat aboard Russia’s Soyuz capsule.

Last year, SpaceX was selected to develop a vehicle capable of safely de-orbiting the International Space Station in 2030, when NASA and its partner space agencies agreed to end operation of the orbiting laboratory. SpaceX is also expected to play a major role in NASA’s efforts to return astronauts to the moon and eventually travel beyond to Mars.

Later Thursday afternoon, Musk posted that he would begin ‘decommissioning’ SpaceX’s Dragon spacecraft, which regularly flies astronauts and cargo to the ISS, in response to Trump’s threat.

NASA spokesperson Bethany Stevens said the agency ‘will continue to execute upon the President’s vision for the future of space.’

‘We will continue to work with our industry partners to ensure the President’s objectives in space are met,’ she said in a statement on X.

Tesla, meanwhile, has benefited from approximately $11.4 billion in total regulatory credits aimed at boosting electric-vehicle purchases, though that figure also includes state-level subsidies. Musk has claimed he no longer needs the credit, which he says now primarily benefits rivals.

Following Trump’s threat, shares in Tesla, which had already fallen 8% on Thursday as the tit-for-tat escalated on social media, declined as much as 15% following Trump’s post. SpaceX is privately held and its shares do not trade on the open market.

Trump’s warning came as part of a stunning exchange with Musk — who spent more than $250 million to help him get elected — that erupted into public view.

Earlier in the day, president told reporters in the Oval Office that he was disappointed in Musk’s criticism of the Republican policy bill that is making its way through Congress. Musk has blasted the bill, calling it a ‘disgusting abomination,’ amid concerns it would worsen the U.S. fiscal deficit.

Musk, who officially left his White House role last week to spend more time on his companies, spent much of Thursday launching into a tirade on X, his social media platform, where he posted a variety of critiques of Trump, the bill and other Republican politicians.

A make-good on Trump’s threat would come at a sensitive time for Tesla, which has seen global sales plunge partly in response to Musk’s very involvement with the Trump campaign. Year to date, its shares are down some 25%.

Trump’s warning also raises the specter that Trump could resurface pending government investigations into Musk’s firms. According to a report in April from Democratic staff of the Senate Homeland Security Permanent Subcommittee on Investigations, Musk’s firms were facing $2.37 billion in potential federal liabilities when Trump took office in January.

Since then, many of those actions have been paused or outright dismissed alongside the rise of the previously Musk-helmed Department of Government Efficiency, which gutted many of the agencies looking into Musk’s businesses.

This post appeared first on NBC NEWS

Silver just hit a 13-year high, breaking above a key resistance level that could ignite a major bull run. Some metals analysts now say a rally to $40 isn’t a long shot, but a matter of time. So, are the odds finally shifting in favor of the bulls?

And, more importantly, is now the time to capitalize on silver’s breakout?

To answer, let’s break down the key technical levels and explore the fundamental factors that may (or may not) fuel silver’s next major move.

Gold vs. Silver: A Look at Intermarket Momentum

In the StockCharts Market Summary, the Intermarket Analysis panel highlights various commodities and indexes. You’ll notice that SPDR Gold Shares (GLD) is leading the group with the largest positive three-month price change and StockCharts Technical Rank (SCTR) score.

FIGURE 1. MARKET SUMMARY INTERMARKET ANALYSIS PANEL. Gold is significantly outperforming other commodities.

While silver is missing from this panel, the intermarket analysis chart to the right of the panel, which plots a one-year chart of intermarket performance, allows you to add silver to the group.

FIGURE 2. ONE-YEAR CHART LAYING OUT THE INTERMARKET ANALYSIS COMPONENTS. iShares Silver Trust (SLV) (color-coded gray) and its latest intermarket performance reading is highlighted by the magenta box.

Is Silver Undervalued? Understanding the Gold-to-Silver Ratio

Note the wide performance gap between GLD and SLV. Let’s look at a chart illustrating the gold-silver ratio ($GOLD:$SILVER).

FIGURE 3. 15-YEAR CHART OF GOLD-TO-SILVER RATIO. The ratio is above both averages, suggesting that silver is undervalued.

Take a look at the blue and green bands. Both represent the common gold-to-silver ratio levels that many, if not most, analysts use.

  • The blue band (60:1 to 65:1) reflects the long-term post-1971 average.
  • The green band (70:1 to 75:1) reflects the 10-year modern average.

When the ratio is above these bands, silver is typically undervalued relative to gold. This can signal three possible outcomes:

  • Silver rises while gold declines.
  • Both rise, but silver outpaces gold.
  • Both fall, but silver falls less.

The key question now: If silver is undervalued, does the technical setup support an actionable bullish resolution?

SLV Breaks Out: Key Support and Resistance Levels to Watch

In the daily chart below, SLV recently broke above key resistance at $31.75, exiting a wide trading range that stretched down to $26.25. The Quadrant Lines symmetrically divide the entire zone, providing more clarity to the trading volume and price behavior.

FIGURE 4. DAILY CHART OF SLV. Support levels are highlighted within the four quadrants dividing SLV’s 8-month trading range.

Here are a few key insights to consider:

  • The Stochastic Oscillator is reading “overbought,” suggesting that a pullback is likely in the coming sessions.
  • Buying pressure is stronger than at any point over the past year, according to the Chaikin Money Flow (CMF), suggesting that SLV, even in the case of a pullback, may have enough volume-driven momentum to drive prices higher.
  • The first quadrant, shaded green, marks the breakout level and top of the eight-month trading range.
  • The second quadrant, shaded yellow, marks the highest concentration of trading activity and various levels of support and resistance.
  • The third quadrant, shaded red, marks another level of support before the bottom of the range, which also marks the lowest support level over the last eight months.

If SLV pulls back but investor conviction remains strong, a bounce is likely within the first two quadrants, particularly the second (yellow) quadrant. However, if SLV drops below the second quadrant and enters the third (shaded red), it signals weakening sentiment and suggests the breakout has failed, pulling SLV back into the trading range that has dominated over the past eight months.

Will Silver Hit $40? Forecasts and Fundamental Tailwinds

Some analysts are expecting $SILVER to rise to around $40 an ounce. SLV’s price equivalence is around $37–$38 per share.

From a technical perspective, historical resistance levels are often target zones for those looking to take profit or unload positions. Here are the historical resistance levels to watch in SLV (pull up a 20-year chart of SLV to see these levels):

  • $36.44 – the February 2012 high
  • $42.78 – the August 2011 high
  • $48.35 – the April 2011 high

These are the levels reached since the last major silver boom in 2011. SLV may (or may not) reach these levels, but it’s important to see the proverbial “roof” before you hit it.

What This Means for SLV Traders Going Forward

With silver breaking out and momentum accelerating, SLV could be setting up for a sustained move. So watch the depth of the pullback, if it happens. You will want to see a bounce above $29 (the lower part of the second quadrant); movement below that is not favorable to the bulls. And, last but not least, remember things can change quickly as geopolitical developments and economic news unfold.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Most religions of the world have the fundamental beliefs that are strikingly similar to the Ten Commandments. History has taught humanity that life does not seem to work well without such guiding principles. As responsible parents, we should have a parallel foundation of ten life skills that we impart part to our children. Your list will vary from mine, of course, but these are the ten essential precepts which I imparted to my son.

  1. Learn the basic life skills such as hygiene, cooking, cleaning, etc.
  2. Develop and maintain positive relations with friends and family.
  3. Keep a positive ‘can-do’ attitude exuding confidence and good self-esteem.
  4. Have strong ethics and values centered around honesty, morality and empathy for others.
  5. Develop strong communication skills, both verbal and written.
  6. Develop strong problem solving skills, curiosity, education, and rational thinking.
  7. Set goals and maintain the motivation to overcome life’s inevitable challenges.
  8. Appreciate the spiritual side of life.
  9. Keep healthy habits pertaining to diet, exercise, and lifestyle.
  10. Understand the tenets of financial literacy relating to money, saving, budgeting, and spending.

Many parenting books have been written on each of these ten topics, but I’d like to highlight the last one – #10. I propose that financial literacy alone has 10 essential skills that we should cultivate in our children. Giving them the gift of a money-wise toolkit along with your time will go along way to ensure their long-term success. It will be the proud legacy you leave and how you’ll be remembered.

These are my Ten Financial Commandments to teach your offspring.

  1. Start early and encourage your kids to embrace investing as a hobby. It’s intellectually stimulating and they’ll meet great people.
  2. Invest consistently and regularly. Don’t try to time the market. As of yet, no one has successfully created that algorithm.
  3. Warren Buffet famously described the magic of compounding as “the eighth wonder of the world.” He likened it to a snowball rolling down a long hill, accumulating more snow as it rolls. Do the math; it’s true.
  4. Avoid debt and leverage. Buying a house or college loan aside, credit card debt and onerous fees can ruin you.
  5. Ignore fads and hot tips. You’ll be inevitably late, pay too much and experience the bursting of the bubble eventually.
  6. Day trading is not investing, and it’s important to understand the difference. If you are an adrenaline addict and absolutely must day trade, then allocate a small percentage of your portfolio to this activity and consider it your “funny money” that’s expendable. Trading is indeed part of successful investing, but overtrading is not.
  7. Pay attention to fees. One percent a year may not sound like much, but when you do the calculations and look at a 10-15 year timeframe, you’ll lose out big-time. Fees represent your money that doesn’t get reinvested or compounded for you over the span of those 15 years.
  8. Be careful which assets you marry. Some have long-term handcuffs, high fees, unattractive risk-to-reward ratios and low probabilities of making you wealthier. I’ve never forgotten this famous quote from John Bogle, who founded Vanguard: “Don’t look for the needle in the haystack; buy the haystack.” In other words, buying the S&P 500 Index (SPY) is a reasonable strategy.
  9. Investing is a marathon, not a sprint. Young people often think that if they lose big, they’ll have many years to recover. My point is, why lose at all? Asset protection should always be a paramount objective throughout one’s life. Start young.
  10. Be action-oriented. Start today. Don’t procrastinate. Don’t make excuses. Buy a good investment book. (I humbly suggest the one I wrote with my son.) Start a free trial at StockCharts.com. Do some paper trading. You might discover you are the second coming of Warren Buffett!

In a spirit of full disclosure, it’s important that I acknowledge the other half of the equation in writing about the ten basic life skills and financial commandments instilled in my son. He was also raised by a devoted and well-educated mother who has an MBA and understands the markets as well.

The bottom line: teach your children about money management. If you don’t, you are intentionally placing them instead into the hands of that merciless professor called “Experience”. The tutorial will be ruthless, and the lessons learned will be costly and late.

Trade well; trade with discipline!

Gatis Roze, MBA, CMT

StockMarketMastery.com

P.S. If you would like to be notified when I post a new Traders Journal blog, please submit your preference via the tile in the right column titled FOLLOW THIS BLOG.

All of our major indices continue to rally off the April 7th, cyclical bear market low. A couple, however, have broken out of key bullish continuation patterns that measure to all-time highs. I’ll focus on one in today’s article.

Russell 2000

The IWM is an ETF that tracks the small-cap Russell 2000 and it’s chart couldn’t be much more bullish right now. After setting an all-time high on November 25, 2024 at 243.71, the IWM fell into its own cyclical bear market, dropping to a low of 171.73 on April 7th. That represented a drop of 71.98 points, or 29.54%, well beyond the 20% cyclical bear market threshold. A bottoming reverse head & shoulders pattern formed and I’ve been awaiting for a breakout above neckline resistance at 211. We saw that on today’s open after nonfarm payrolls highlighted our somewhat resilient economy as jobs came in ahead of expectations and the unemployment rate held steady. Check out this chart on the IWM:

I’m not saying that we’ll see a straight up move to 249, and short-term direction could be impacted by how we finish today. A weak afternoon could lead to further short-term selling, possibly back to the rising 20-day EMA. But, ultimately, and during 2025, I’m looking for that all-time high. A strong finish this afternoon and close on or near the daily high would add more bullishness to this chart.

Leading Stocks in Leading Industry Groups

The small cap IWM is no different than any of our other major indices, like the S&P 500 and NASDAQ 100. When you see an index breakout, you need to look to the leading stocks in that area in order to outperform the benchmark index. We started our Leading Stocks ChartList (LSCL) two weeks ago and the results have been absolutely phenomenal so far, which I would expect them to be. After last week, we produced our 2nd weekly LSCL and the results have been awesome once again. There were 43 stocks included and 32 of the 43 have outperformed the S&P 500 this week. That’s similar results to our first weekly LSCL.

Individual stock leaders from our LSCL included the following big winners as of 1pm ET today:

  • PRCH: +16.89%
  • DOMO: +15.75%
  • LASR: +15.40%
  • HOOD: +15.10%
  • QBTS: +13.17%
  • TTMI: +11.62%
  • ZS: +10.76%

These are exceptional returns when you consider the benchmark S&P 500 gained just 1.38% this week.

I want to provide all of our followers a SPECIAL OFFER to join our FREE EB Digest newsletter. Subscribe HERE with only your name and email address (no credit card required), and we’ll provide you a link and password to download this unique Leading Stocks ChartList (LSCL) and check it out for yourself. You need to be an Extra or Pro member at StockCharts in order to download the ChartList into your account. Basic members and non-members can view the ChartList and check out the stocks we include for next week.

Happy trading!

Tom

This week, we got a smorgasbord of jobs data — JOLTS, ADP, weekly jobless claims, and the nonfarm payrolls (NFP). Friday’s NFP, the big one the market was waiting for, showed that 139,000 jobs were added in May, which was better than the expected 130,000. Unemployment rate held steady at 4.2%, and average hourly earnings rose 0.4% for the month.

The stock market rallied on the news. The S&P 500 rose above the 6000 level and closed slightly above it. That’s the first time the index has hit the 6K level since February. And the party wasn’t just in the S&P 500. All the major stock market indexes closed higher, and the Cboe Volatility Index ($VIX) closed below 17, suggesting investors are pretty complacent.

Sector Performance: Tech Takes the Lead

When you look at which sectors did best this week, it’s pretty clear that Technology was leading the charge. But is the leadership as strong as it was last year?

To answer, we can begin by taking a look at the MarketCarpet for S&P Sector ETFs below. It clearly illustrates the strength of the Technology sector.

FIGURE 1. WEEKLY PERFORMANCE OF THE S&P SECTOR ETFS. Technology is in the lead while Consumer Staples is the laggard.Image source: StockCharts.com. For educational purposes.

Now, if you drill down, it’s evident from the MarketCarpet of the Technology Sector that heavily weighted large-cap stocks, across the many different categories within the sector, displayed strong performance for the week.

FIGURE 2. WEEKLY PERFORMANCE OF TECHNOLOGY SECTOR. Large-cap heavily weighted stocks were in the green this week.Image source: StockCharts.com. For educational purposes.

Semis Grind Higher

Within tech, the semiconductors look especially strong, with several dark green squares in the MarketCarpet. This warrants a closer look at this industry group.

The weekly chart of the VanEck Vectors Semiconductors ETF (SMH) shows an upside move, with the ETF trading above its 40-week simple moving average. However, SMH is still underperforming the SPDR S&P 500 ETF (SPY). The Relative Strength Index (RSI) is trending higher and is in better shape since the end of March, but needs to gain more momentum to push it into overbought territory.

FIGURE 3. WEEKLY CHART OF VANECK VECTORS SEMICONDUCTOR ETF (SMH). While the price action in SMH is leaning towards the bullish side, it’s underperforming the SPY and needs more momentum.Chart source: StockCharts.com. For educational purposes.

If SMH continues to move higher with strong momentum, it would be a positive indication for the equity markets. However, there are several moving parts that investors should monitor.

Closing Position

While stocks are inching higher on low volatility, news headlines disrupt trends, sometimes drastically.

The weakening U.S. dollar and rising Treasury yields can sometimes signal headwinds for the stock market. Next week is going to be all about inflation, and we’ll get the Consumer Price Index (CPI) and Producer Price Index (PPI) for May.

With the job numbers in the rearview mirror, investors will be focused on inflation, especially since the Fed meets the following week. As of now, the Fed isn’t expected to make any changes to interest rates until perhaps their September meeting. Let’s see if next week’s inflation data changes the picture.

Watch the price action unfold by monitoring the StockCharts MarketCarpets and the StockCharts Market Summary page.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Stay ahead of the market in under 30 minutes! In this video, Mary Ellen breaks down why the S&P 500 just broke out, which sectors are truly leading (industrials, technology & materials), and what next week’s inflation data could mean for your portfolio.

This video originally premiered June 6, 2025. You can watch it on our dedicated page for Mary Ellen’s videos.

New videos from Mary Ellen premiere weekly on Fridays. You can view all previously recorded episodes at this link.

If you’re looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.

Israel is arming local militias in Gaza in an effort to counter Hamas in the besieged enclave, officials say, as opposition politicians warned that the move endangers national security.

Israeli Prime Minister Benjamin Netanyahu defended the covert enterprise on Thursday, calling it “a good thing.” In a video posted on social media, Netanyahu said Israel had “activated clans in Gaza which oppose Hamas,” and that it was done “under the advice of security elements.”

Former defense minister and Netanyahu rival Avigdor Liberman divulged the move on Israel’s Ch. 12 News on Wednesday, saying that Israel was distributing rifles to extremist groups in Gaza and describing the operation as “complete madness.”

“We’re talking about the equivalent of ISIS in Gaza,” Liberman said one day later on Israel’s Army Radio, adding that Israel is providing weapons to “crime families in Gaza on Netanyahu’s orders.”

Meanwhile, Hamas said the plan revealed “a grave and undeniable truth.” In a statement, the militant group said: “The Israeli occupation army is arming criminal gangs in the Gaza Strip with the aim of creating a state of insecurity and social chaos.”

One group that has received weapons from Israel is the militia led by Yasser Abu Shabab, officials said. Abu Shabab heads an armed group that controls some territory in eastern Rafah and he has posted photos of himself holding an AK-47 rifle with UN vehicles behind him. Though Abu Shabab has denied receiving weapons from Israel, Hamas has accused him of being a “traitor.”

“We pledge before God to continue confronting the dens of that criminal and his gang, no matter the cost of the sacrifices we make,” Hamas said on Thursday.

Opposition politicians ripped Netanyahu for the plan to arm militias and the secrecy around it, lambasting it as a continuation of the Israeli leader’s decision to allow millions of dollars in cash to travel from Qatar to Gaza beginning in late 2018. They accused him of strengthening Hamas in the past as an alternative to the rival Palestinian Fatah faction, and now arming gangs as an alternative to Hamas.

“After Netanyahu finished handing over millions of dollars to Hamas, he moved on to supplying weapons to groups in Gaza affiliated with ISIS – all improvised, with no strategic planning, and all leading to more disasters,” opposition leader Yair Lapid said on social media.

Netanyahu has not laid out a plan for who will govern Gaza in the future and has hardly made clear any of his post-war intentions for the coastal enclave. Part of Israel’s war goals include the complete disarmament of Hamas and the end of its ability to govern in the territory.

The arming of militias in Gaza appears to be the closest that Netanyahu has come to empowering any form of alternate rule.

Despite nearly 20 months of war, Israel has not been able to dislodge Hamas completely from large swaths of Gaza, and the militant group – classified as a terrorist organization in Israel, the United States, and the European Union – has clung to power.

Yair Golan, head of the left-wing Democrats party, said in a post on social media: “Instead of bringing about a deal, making arrangements with the moderate Sunni axis, and returning the hostages and security to Israeli citizens, he is creating a new ticking bomb in Gaza.”

This post appeared first on cnn.com