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2023

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Yesterday, we covered the 80-month moving average in small caps and retail.

Today, I did several interviews — some already out (BNN Bloomberg), others out soon (Financial Sense with Jim Pupluva), and the one that you’ll find on YouTube later today with Real Vision.

We chose this one to feature as it is 30 minutes long and covers the breadth of pretty much everything:

Bonds — Yields, Corporate DebtDollar/YenEconomic Modern FamilyCommodity Futures — Oil, Gold, Food, Base MetalsGrowth Stocks vs. Small CapsRecession, soft landing, stagflationVolatilityBitcoin and alt coins

Please have a listen! The clip will be available on the MarketGauge YouTube channel soon.

This is for educational purposes only. Trading comes with risk.

For more detailed trading information about our blended models, tools and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.

If you find it difficult to execute the MarketGauge strategies or would like to explore how we can do it for you, please email Ben Scheibe at Benny@MGAMLLC.com.

“I grew my money tree and so can you!” – Mish Schneider

Get your copy of Plant Your Money Tree: A Guide to Growing Your Wealth and a special bonus here.

Follow Mish on Twitter @marketminute for stock picks and more. Follow Mish on Instagram (mishschneider) for daily morning videos. To see updated media clips, click here.

Mish in the Media

Mish presents a warning in this appearance on BNN Bloomberg’s Opening Bell — before loading up seasonality trades or growth stocks, watch the “inside” sectors of the US economy.

Watch Mish and Nicole Petallides discuss how pros and cons working in tandem, plus why commodities are still a thing, in this video from Schwab.

Mish talks TSLA in this video from Business First AM.

See Mish argue investors could jump into mega-tech over value and explain why she is keeping an eye on WTI prices on BNN Bloomberg’s Opening Bell.

Even as markets crumble, there are yet market opportunities to be found, as Mish discusses on Business First AM here.

Mish explains how she’s preparing for the next move in Equities and Commodities in this video with Benzinga’s team.

Mish talks about the head-and-shoulders top pattern for the S&P 500 in The Final Bar.

Mish covers sectors from the Economic Family, oil, and risk in this Yahoo! Finance video.

Mish shares why the most important ETFs to watch are Retailers (XRT) and Small Caps (IWM) in this appearance on the Thursday, September 20 edition of StockCharts TV’s The Final Bar with David Keller, and also explains MarketGauge’s latest plugin on the StockCharts ACP platform. Mish’s interview begins at 19:53.

Mish covers 7 stocks that are ripe for the picking on the Wednesday, September 20 edition of StockCharts TV’s Your Daily Five, and she gives you actionable levels to watch.

Take a look at this analysis of StockCharts.com’s Charting Forward from Jayanthi Gopalkrishnan, which breaks down Mish’s conversation with three other charting experts about the state of the market in Q3 and beyond.

Mish was interviewed by Kitco News for the article “Oil Prices Hit Nearly One-Year High as it Marches Towards $100”, available to read here.

Mish covers short term trading in DAX, OIL, NASDAQ, GOLD, and GAS in this second part of her appearance on CMC Markets.

Mish talks Coinbase in this video from Business First AM!

Mish looks at some sectors from the economic family, oil, and risk in this appearance on Yahoo Finance!

Mish covers oil, gold, gas and the dollar in this CMC Markets video.

In this appearance on Business First AM, Mish explains why she’s recommending TEVA, an Israeli pharmaceutical company outperforming the market-action plan.

As the stock market tries to shake off a slow summer, Mish joins Investing with IBD to explain how she avoids analysis paralysis using the six market phases and the economic modern family. This edition of the podcast takes a look at the warnings, the pockets of strength, and how to see the bigger picture.

Mish was the special guest in this edition of Traders Edge, hosted by Jim Iuorio and Bobby Iaccino!

In this Q3 edition of StockCharts TV’s Charting Forward 2023, Mish joins a panel run by David Keller and featuring Julius de Kempenaer (RRG Research & StockCharts.com) and Tom Bowley (EarningsBeats). In this unstructured conversation, the group shares notes and charts to highlight what they see as important considerations in today’s market environment.

Coming Up:

October 5: Yahoo! Finance & Making Money with Charles Payne, Fox Business

October 12: Dale Pinkert, F.A.C.E.

October 26: Schwab and Yahoo! Finance at the NYSE

October 27: Live in-studio with Charles Payne, Fox Business

October 29-31: The Money Show

Weekly: Business First AM, CMC Markets

ETF Summary

S&P 500 (SPY): There are multiple timeframe support levels round 420-415.Russell 2000 (IWM): 170 area huge.Dow (DIA): 334 pivotal.Nasdaq (QQQ): 330 possible if can’t get back above 365.Regional Banks (KRE): 39.80 the July calendar range low.Semiconductors (SMH): 133 the 2000DMA with 147 pivotal resistance.Transportation (IYT): 237 resistance, 225 support.Biotechnology (IBB): 120-125 range.Retail (XRT): 57 key support; if can climb over 63, get bullish.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

In this edition of StockCharts TV‘s The Final Bar, Dave digs out his market correction playbook and shares what market breadth indicators tend to do leading into and out of market bottoms. He also reveals the charts that can serve investors well in corrective phases, using relative strength as a foundation for top-performing stocks and ETFs.

This video originally premiered on October 4, 2023. Watch on our dedicated Final Bar page on StockCharts TV, or click this link to watch on YouTube.

New episodes of The Final Bar premiere every weekday afternoon LIVE at 4pm ET. You can view all previously recorded episodes at this link.

In this week’s edition of Trading Simplified, Dave shows his methodology in action by discussing his current portfolio and how he is seeing each position to its fruition. He then resumes his series on Jesse Livermore. This week, he explains how years of experience can give you intuition, sector confirmation on trades, and expertise in paying attention to market action/reading the tape. Dave also discusses how Livermore often behaved badly, which led to frequent blowups.

This video was originally published on October 4, 2023. Click anywhere on the Trading Simplified logo above to watch on our dedicated show page, or at this link to watch on YouTube.

You can view all recorded episodes of the show at this link. Go to davelandry.com/stockcharts to access the slides for this episode and more. Dave can be contacted at davelandry.com/contact for any comments and questions.

The stock market plunged on Tuesday, with the Dow Jones Industrial Average ($INDU), S&P 500 ($SPX), and Nasdaq Composite falling over 1% at the close. There are few different possible reasons for this.

One could be the August Job Openings and Labor Turnover Survey (JOLTS) report. The report exceeded expectations, with 9.6 million job openings reported (versus 8.8 million expected), indicating the tight labor market.

The other, and the one probably more reflective of the selloff, is the 10-year Treasury yield spiking to 4.8%. The last time yields were at that level was in August 2007. However, relatively speaking, are they really that high? Pre-2007, the average was almost 6%. And if you go back 45 years, you can see that since 1979, when interest rates were higher than they are now, the S&P 500 rallied up until the dot-com crash. Even this time, from a very long-term perspective, the S&P 500 is in an uptrend.

CHART 1: 10-YEAR US TREASURY YIELD INDEX VS. THE S&P 500. Higher interest rates don’t necessarily mean that equities will fall. Between 1979 and 2000, interest rates were higher than now, yet equities rose.Chart source: StockCharts.com. For educational purposes.

So even though the “higher for longer” narrative is likely to be here for a while, it doesn’t necessarily mean the stock market will crash. In a market that’s charged ahead rapidly, a pause can be healthy and an opportunity to pick up assets at a better value.

Sure, there’s the concern that record-high yields might freeze the housing market and tip the economy into a recession. But this isn’t a repeat of the situation that led to the 2007–2008 housing crisis. Mortgage rates, closely correlated with the 10-year yields, have risen and are averaging 7.3%. But those holding mortgages have locked in the lower 30-year fixed rates, and we aren’t seeing the subprime mortgages that were prevalent during the housing crisis.

A Look at the Sectors

Among the 11 sectors, Technology, Consumer Discretionary, Real Estate, and Financials tend to be more sensitive to changes in the 10-year yield. Financials can benefit from higher interest rates, but, if the rates are too high, it also increases the likelihood of defaults while discouraging demand for loans.

The PerfChart below compares the performance of the 10-year Treasury Yields to some of the different S&P 500 sectors.

How To View PerfCharts

PerfCharts can be accessed from Your Dashboard or the Charts & Tools tab.From Your Dashboard, in the Member Tools section, under Charting Tools, scroll down to PerfCharts and click on it.Enter the symbols you wish to view separated by commas, i.e., ($TNX,XLK,XLY,XLC,XLF,XLRE).Hit enter.Right-click on the slider on the far right (below the chart) to select a time frame. For the example in the article, the time frame was Past Six Months.

CHART 2: COMPARING PERFORMANCE OF 10-YEAR US TREASURY YIELD WITH S&P SECTOR ETFS. Rising yields hurt the Real Estate sector. Financials are barely in positive territory. Technology, Communication Services, and Consumer Discretionary are also trending lower, but their performance is in positive territory.Chart source: StockCharts.com. For educational purposes.

You can see the contrasting trajectories between the 10-year yield and sector ETFs. As yields rose to higher levels in July, the sectors began topping out. In the last month, when the 10-year yield surged to record levels, the sectors saw an accelerated slide.

Performance of Technology, Communication Services, and Consumer Discretionary are still in positive territory. If you look at the six-month Sector Summary tool, these three sectors are the top-performing ones. It’s likely that when certainty and stability return to the market, these three sectors will lead the rally.

StockCharts Tip

The Sector Summary can be accessed directly from Your Dashboard, Member Tools, or from the Charts & Tools tab.Change the Period from the dropdown menu to Six Month or any other period you wish to use.

CHART 3: TOP PERFORMING SECTORS IN THE LAST SIX-MONTH PERIOD. Communication Services, Technology, and Consumer Discretionary are the top three sector performers for the last six months.Chart source: StockCharts.com. For educational purposes.

So, Where Should You Invest?

The logical place would be to watch the mega-cap tech stocks. Besides analyzing the chart of $COMPQ, you could also look at the Nasdaq Composite Bullish Percent Index ($BPCOMPQ). This is a great indicator that shows clear signals based on Point & Figure charts.

The chart below displays the $BPCOMPQ with the Nasdaq Composite overlaid on the index. There are different ways to apply the Bullish Percent Index, but one way is to look for reversals in the indicator. 

StockCharts Tip

To overlay the index, go to the Indicator dropdown menu and select Price, then add $COMPQ as a parameter and position it behind price.

CHART 4: NASDAQ COMPOSITE BULLISH PERCENT INDEX VS. NASDAQ COMPOSITE. When the Bullish Percent Index reversed, it was followed by a strong rally in the Nasdaq Composite.Chart source: StockCharts.com. For educational purposes.

The Bullish Percent Index tends to reverse sharply. While the indicator is trending lower, it’s pretty close to its last two lows, which didn’t hit oversold levels of below 30. Both lows reversed sharply, after which the Nasdaq rallied. There’s a chance it could happen again, so save this chart to a ChartList you look through daily, because a reversal could be quick.

The Bottom Line

You don’t want to miss out on the opportunity to pick up stocks at a value. Thus, when the stock market reverses and gains momentum, you want to get in the trend earlier rather than later. Be prepared with the stocks you’d like to add to your portfolio.

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.

SPX Monitoring Purposes: Long SPX 9/28/23 at 4299.70.

Gain since 12/20/22: 15.93%.

Monitoring Purposes GOLD: Long GDX on 10/9/20 at 40.78.

Above is the monthly SPX. The pattern that appears to be forming is a head-and-shoulders bottom. Support lies near the 4200 range, which is being tested. The “Right Shoulder” appears to be in the making and, once completed, another rally may start that leads to new highs. The SPX was up 5 months in a row going into July, which in the past has not marked the final high. At a minimum, after a 5-month rally, the market will see at least one new higher high (momentum rules). Long SPX 9/28/23 at 4299.70.

The bottom window is the NYSE Advancing Issues/NYSE Total Issues with a 10-period average.  A “Zweig Breadth Thrust” occurs when this indicator drops below .40 than rallies to .60 within 10 days. We pointed out the previous “Zweig Breadth Thrust” in the past. The current reading on this indicator stands at .35, and we would like to see a thrust to .60 in the next 10 days, as this condition would trigger a “Zweig Breadth Thrust” and a bullish sign for a rally into year-end. Previous examples of readings below .40 on chart above have led to short-term lows in the past. Also notice that SPX is near the 4200 support area. SPX appears to be near a low.

Tim Ord,

Editor

www.ord-oracle.com. Book release “The Secret Science of Price and Volume” by Timothy Ord, buy at www.Amazon.com.

Signals are provided as general information only and are not investment recommendations. You are responsible for your own investment decisions. Past performance does not guarantee future performance. Opinions are based on historical research and data believed reliable; there is no guarantee results will be profitable. Not responsible for errors or omissions. I may invest in the vehicles mentioned above.

Lawmakers voted Tuesday to oust embattled Kevin McCarthy, R-Calif., as speaker of the House of Representatives.

Such a move is the first in time in U.S. history that the top member of the House has been removed from the job. Eight Republicans sided with every Democrat in a 216-210 vote.

Rep. Matt Gaetz, R-Fla., introduced a measure against McCarthy known as a motion to vacate on Monday night, accusing him of breaking promises he made to win the speaker’s gavel in January. 

‘For the last eight months, Speaker McCarthy has been in breach of that agreement,’ Gaetz said Tuesday in a statement. ‘All of Speaker McCarthy’s failure theater resulted in him teaming up with Democrats to pass a continuing resolution that funds Ukraine, funds Jack Smith’s election interference against President Trump, abandons E-Verify, and does nothing to put the interests of the American people first.’

Here are the eight Republicans who broke with their party to oust McCarthy:

Rep. Andy Biggs, Arizona

During remarks on the House floor, Biggs said McCarthy’s passage of a budget resolution only further negatively impacted the national debt and immigration.

‘Until you leverage the budget and spending, you will not see enforcement by this administration,’ he said.

In a statement earlier, he said McCarthy had failed as an effective leader.

‘He has gone against many of the promises he made in January and can no longer be trusted at the helm,’ he wrote.

Rep. Ken Buck, Colorado

Buck said his vote stemmed from McCarthy’s fiscal moves he says has elevated the national debt.

‘We are $33 trillion in debt and on track to hit $50 trillion by 2030,’ he wrote on social media. ‘We cannot continue to fund the government by continuing resolutions and omnibus spending bills. That’s why I voted to oust @SpeakerMcCarthy. We must change course to sensible budgeting and save our country.’

In another statement, Buck said he initially supported McCarthy in January because he was in the best position to keep the GOP’s promises to the American people. 

‘It’s clear that we need a principled Speaker who can keep his word not just to members of Congress, but to the American people,’ he wrote. 

Rep. Tim Burchett, Tennessee

Burchett described McCarthy as a friend but that his vote to oust McCarthy was ‘a choice between that and my conscience.’

‘This was a tough decision. I voted for McCarthy for Speaker of the House back in January and I consider him a friend,’ he said in a statement. ‘However, I had to vote for what I think is best for the American people.’

‘We need leadership that will take real action to address our country’s serious financial crisis and steer us in a better direction, and we shouldn’t settle for anything less than that,’ he added.

Before the vote, Burchett said he was poised to remove McCarthy over the $33 trillion in debt, saying the House needed to change direction in leadership.

Rep. Eli Crane, Arizona  

Crane didn’t mention McCarthy by name but said after the vote that change was needed to overhaul the ‘ineffective and dishonest way’ Washington works.

‘I’m prepared to support a speaker who agrees,’ he said.

Earlier, he said Republicans have capitulated to Democrats to support their measures.

‘Each time our majority has had the chance to fight for bold, lasting change for the American people, leadership folded and passed measures with more Democrat support than Republican,’ he said.

Rep. Matt Gaetz, Florida

Gaetz led the effort to remove McCarthy, who he often criticized for negotiations over the debt ceiling and other measures. 

In an interview after the vote, he called the former speaker a ‘feature of the swamp.’

‘He has risen to power by collecting special interest money and redistributing that money in exchange for favors,’ he said. ‘We are breaking the fever now.’

In a social media post, Gaetz wrote, ‘The fight is not over. Now we must elect a Speaker.’

Rep. Bob Good, Virginia

Good cited this past weekend’s continuing resolution, which kept the government open, in his remarks.

‘The American people need a Speaker who will fight to keep the promises Republicans made to get the majority, not someone who cuts fiscally irresponsible deals that get more Democrat votes than Republican votes,’ he said in a statement.

Rep. Nancy Mace, South Carolina

Mace said McCarthy had not ‘lived up to his word’ on how the House would operate.

‘There has also been no action on many issues we care about and were promised,’ the South Carolina congresswoman wrote in a statement. ‘We were promised we would move on women’s issues and legislation to keep our communities safe. Those things never happened.’

‘I came here to take difficult votes and do the right thing, regardless of the pressure and regardless of the threats (bc there’s been plenty of both),’ she added. ‘Today I’m voting against 95 percent of my party in the hopes of fixing how Congress operates.’

She said as long as McCarthy remains as House speaker ‘this chaos will continue.’

Rep. Matt Rosendale, Montana

Rosendale accused McCarthy of working against the Republican Party and supporting ‘ploys to aid the left.’

‘This demonstration of failed leadership is exactly why I plan on supporting the motion to vacate this afternoon,’ he said in a statement.

Before the vote, he told Fox News in a statement that he planned to help oust McCarthy over him working with Democrats on the debt limit deal earlier this year, not negotiating with the Senate over the National Defense Authorization Act, and pushing a continuing resolution to avert a government shutdown over the weekend.

Fox News Digital’s Elizabeth Elkind contributed to this report.

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In his first appearance since being ousted from the House speakership, Rep. Kevin McCarthy, R-Calif., told reporters Tuesday night that hard-line Republicans led by Rep. Matt Gaetz, R-Fla., ‘are not conservatives.’

‘They voted against one of the greatest cuts in history that Congress has ever voted for, $2 trillion. They voted against work requirements. They voted against NEPA (National Environmental Policy Act) reform. They voted against border security. They don’t get to say they’re conservative because they’re angry, and they’re chaotic,’ McCarthy said.

His comments came just hours after Gaetz introduced a motion to vacate McCarthy — and succeeded — with the help of hard-liners in his own party and 208 House Democrat votes. McCarthy said he would not seek to be reelected as speaker.

Hard-line conservatives and Democrats voted in sync to seal the deal on Tuesday as the vote to vacate commenced after an hour of passionate debate with McCarthy’s supporters and dissenters.

Gaetz introduced a motion to vacate on Monday night, accusing McCarthy of breaking the promises he made to win the speaker’s gavel in January. Meanwhile, Democrats condemned his ‘lack of interest in bipartisanship’ while Republicans jabbed his apparent failure to pass a government spending patch with additional border security provisions and not enough budget cuts.

‘I made a decision as speaker to keep the government open, and I put something on the floor,’ McCarthy said.

McCarthy angered hard-liners over the weekend when he passed a short-term spending bill known as a continuing resolution (CR) to keep the government open for 45 days to avert a government shutdown and give lawmakers more time to cobble together 12 individual spending bills.

Rep. Nancy Mace, R-S.C., shocked McCarthy as she joined the seven other GOP lawmakers who voted to boot him.

‘Nancy Mace is a whole other story,’ McCarthy told reporters.

Democrats signaled early on Tuesday that they were not inclined to help McCarthy. House Minority Leader Hakeem Jeffries, D-N.Y., said before the vote, ‘Democrats are ready to find bipartisan common ground. Our extreme colleagues have shown no willingness to do the same. They must find a way to end the House Republican civil war.’

In January, it took 15 rounds of voting until McCarthy was elected as speaker.

Fox News’ Liz Elkind contributed to this report.

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As Kevin McCarthy, R-Calif., has been booted from his post as House speaker after a motion to vacate brought forth by hardliner Rep. Matt Gaetz, R-Calif., an unlikely nominee has been suggested as next speaker: former President Donald Trump.

Texas Rep. Troy Nehls said in a statement Tuesday afternoon his first order of business when the House reconvenes ‘will be to nominate Donald J. Trump for Speaker of the U.S. House of Representatives.’

‘President Trump, the greatest President of my lifetime, has a proven record of putting America First and will make the House great again,’ he said.

Rep. Greg Steube, R-Fla., followed suit in a post on X, formerly known as Twitter, on Tuesday evening: ‘@realDonaldTrump for Speaker.’

The next speaker does not have to be a current sitting member in the House, but every speaker in U.S. history has been.

It’s not the first time Trump has been floated as a nominee for speakership, either. In January, as McCarthy struggled to garner enough votes to secure his speakership, Gaetz cast a ballot for Trump.

In a gaggle with reporters on the Hill after the vote Tuesday, Gaetz said he’d support several members of Congress should they decide run for the post, including GOP Reps. Tom Emmer, Mike Johnson, Jodey Arrington, Kevin Hern, or Steve Scalise, none of whom voted to oust McCarthy.

House Financial Services chairman Rep. Patrick McHenry will serve as interim Speaker until a replacement for McCarthy is chosen. 

House rules dictated that McCarthy, upon his election as speaker in January, provide a secret list of members to succeed him as speaker pro tempore should the office be vacated as it was with his removal. It was revealed following the vote to oust McCarthy that McHenry was at the top of the list.

McHenry, a former media consultant and political operative, was first elected to the House to represent North Carolina’s 10th Congressional District in 2004. He was selected as the House Republican chief deputy whip in 2015 and served in the role until 2019. He was selected as chair of the House Financial Services Committee in January.

Eight Republicans sided with House Democrats on Tuesday to oust McCarthy from his role as speaker after a dramatic floor vote tallying each member’s vote by surname. 

An hour of debate was heard before members of Congress cast their votes. The vast majority of Republican lawmakers passionately spoke in favor and against McCarthy, and forced the anti-McCarthy group to speak from the Democratic side of the House floor.

McCarthy told reporters Tuesday evening he would not be running again for speakership.

Fox News’ Brandon Gillespie contributed to this report.

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Todd and Julie Chrisley are teaching classes in prison to reduce their sentences, including finance classes, which their daughter Savannah called ‘ironic’ given their fraud convictions. 

‘We’re continuing to utilize the system as it’s presented to us,’ she explained on her ‘Unlocked’ podcast, adding that federal sentencing guidelines going into effect in February may further reduce their sentences retroactively. 

‘We’re extremely grateful for the First Step Act because Dad’s sentence was cut down by two years and Mom by a year,’ Savannah said. ‘They could get multiple years off their sentences … and for that I’m grateful.’

The Chrisleys’ prison education program is part of the First Step Act, passed by Congress in 2018 and signed by former President Donald Trump.

Todd was originally sentenced to 12 years and Julie was sentenced to seven after being indicted in August 2019 on bank fraud and tax evasion charges. They were also ordered to complete 16 months of probation following the end of their prison terms.

Julie was convicted on charges of conspiracy to commit bank fraud, bank fraud, tax fraud and conspiracy to defraud the United States. She was also hit with wire fraud and obstruction of justice charges. Todd was convicted of conspiracy to commit bank fraud, bank fraud, tax fraud and conspiracy to defraud the United States.

Prosecutors had claimed the Chrisleys had submitted fake documents to banks when applying for loans. Julie also allegedly submitted a false credit report and fake bank statements when trying to rent a house in California. Then, the couple allegedly refused to pay rent a few months after they started using the home.

Savannah, who now has custody of her underage brother Grayson and her niece Chloe, said her ‘overachiever’ mom has taught a real estate course, and her dad has taught a trauma course and a finance class, ‘which, how ironic.’ 

The Bureau of Prisons website says Todd will be released in January 2033, two years before his original sentence was to expire, and Julie is expected to be released in October 2028, a little more than a year less than her original sentence. 

Savannah also spoke out with allegations about her parents’ liviing conditions. 

‘Regardless of what you believe someone has or has not done, no one deserves to be living in conditions like mom and dad are living in because, sure they were given a 12- and seven-year sentence, but with the conditions they’re living in, they’re really being given a life sentence,’ she said. 

She alleged that her parents have been exposed to black mold, asbestos, lead-based paint and unclean drinking water. 

‘You literally have a life sentence because of the health conditions that you’re going to be suffering from,’ she explained. 

Savannah said her mom, a cancer survivor, has had a cough for months now. 

‘In these conditions, she’s living in you can’t help but wonder is this having an effect on her,’ Savannah said.

Federal Medical Center (FMC) Lexington in Kentucky, where Julie is serving her sentence, previously provided a statement to Fox News Digital with information about the general ‘conditions of confinement’ for any adult in custody (AIC).

‘The FBOP takes seriously our ability to protect and secure individuals in our custody while ensuring the safety of our employees and the surrounding community. We make every effort to create a controlled environment within our facilities that is both secure and humane, prioritizing the physical and emotional well-being of those in our care and custody,’ it said in part. 

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Former House Speaker Nancy Pelosi, D-Calif., was evicted from her private Capitol office by the new speaker pro-tempore.

Fox News Digital confirmed that House Speaker pro-tempore Patrick McHenry, R-N.C., gave the order to Pelosi to vacate her Capitol hideaway by Wednesday.

McHenry is a close ally to now-former House Speaker Kevin McCarthy, R-Calif., who was ousted from his role on Tuesday.

McHenry’s eviction order was one of the congressman’s first acts as the top House lawmaker.

Pelosi was notified of the eviction, first reported by Politico, in an email.

The email said the former speaker’s hideaway was being reassigned ‘for speaker office use.’

‘Please vacate the space tomorrow, the room will be re-keyed,’ the email read.

Pelosi moved out of her hideaway on Tuesday, with help from the staff of House Minority Leader Hakeem Jeffries, D-N.Y., according to a spokesperson for the former speaker.

Capitol hideaways are a mainstay in the Senate, but are a luxury only afforded to a select few House members.

‘With all of the important decisions that the new Republican Leadership must address, which we are all eagerly awaiting, one of the first actions taken by the new Speaker Pro Tempore was to order me to immediately vacate my office in the Capitol,’ Pelosi said in a statement.

‘Sadly, because I am in California to mourn the loss of and pay tribute to my dear friend Dianne Feinstein, I am unable to retrieve my belongings at this time,’ the former speaker continued.

‘This eviction is a sharp departure from tradition,’ Pelosi said. ‘As Speaker, I gave former Speaker [Dennis] Hastert a significantly larger suite of offices for as long as he wished.’

The former speaker said office space doesn’t matter to her, ‘but it seems to be important to them.’

‘Now that the new Republican Leadership has settled this important matter, let’s hope they get back to work on what’s truly important for the American people,’ she concluded.

Pelosi’s eviction comes after McCarthy was ousted by his seat in a motion to vacate.

Eight House Republicans led by Rep. Matt Gaetz of Florida voted with the entirety of the House Democrats to remove McCarthy from the speakership. Pelosi did not vote because since she was in California after accompanying the late Senator Feinstein’s remains for burial.

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