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In Monday’s DecisionPoint Trading Room we discussed that Technology (XLK) was the last one standing on our Bias Scoreboard with a Bullish Bias in both the intermediate term and long term. Today that bullish bias was lost in both timeframes. When the Silver Cross Index drops below its signal line, it is a “Bearish Shift” that moves the IT Bias to “Bearish”. When the Golden Cross Index drops below its signal line, it moves the LT Bias to “Bearish” on a Bearish Shift.

The Price Momentum Oscillator (PMO) is in decline again and is headed for a Crossover SELL Signal. Most concerning is the complete loss of participation. %Stocks > 20/50/200EMAs have seen declines since the sector topped at the beginning of September. We would easily read the ST Bias as “Bearish” given %Stocks > 20/50EMAs are below our bullish 50% threshold.

Adding insult to injury are the RSI dipping below net neutral (50) and Stochastics which are falling fast.

Conclusion: Technology tends to lead the market and in this case it should lead the market lower. Indicators are falling with the PMO nearing a SELL Signal. Relative strength has been failing and the loss of the Bullish Bias in both the IT and LT suggest this is not a sector to rely on in your portfolio.

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Bear Market Rules

We investors are frequently guilty of hearing only what we want to hear. The justification often being “that doesn’t apply to me.” Or my other favorite line, “Oh, I don’t do that.” In my previous blog — a tribute to William J. O’Neil, — I said that in the near future I’d share my specific takeaways from all his seminars I attended and his books I read. I absorbed this material from O’Neil over many decades, and in reviewing my extensive notes, I freely admit to paraphrasing his insights.

As with so many instances in life, O’Neil may have implied one lesson and I inferred something slightly different. Nevertheless, this is my collection of useful investing essentials that all of us need to remember and that all novices must adopt sooner rather than later. Not just for the betterment of our own portfolios, but for the crucial responsibility of passing the investment management baton to the next generation. Without this baton pass, your legacy dies. That may sound brutal, but it’s entirely truthful.

1. SUCCESSFUL INVESTING CAN BE LEARNED

This is a fact, and I’ll offer you proof. The Market Wizard, Richard Dennis, set out to prove this point by making a wager with his business partner. He won! He proved it could be done to the tune of $175 million. You should read Wikipedia’s biography of Dennis. He turned $1,600 into $350 million and then famously taught his system to a small group of investing recruits who he labeled “the Turtles.” In five years, his novice Turtle investors produced an aggregate profit of $175 million. The conclusion? Yes, you can learn to be a consistently profitable investor, too. 

2. START EARLY — DON’T PUT OFF INVESTING

In my over 25 years teaching investors, I consistently heard the same regret over and over again, “gosh, if only I had started investing sooner.” Be it Buffett, O’Neil or Bogle, they all applaud the magic of compounding and preach the gospel of starting early. You’ve all seen the seemingly unbelievable numbers. Young people who start investing almost certainly will be able to retire in their fifties. And even for those of you already 50, investing $15,000 annually and letting it grow at a reasonable market rate of 8% will reap a nest egg of $440,000 by the time you’re 65. But my God — do the math if you start at 25 years old! I’d present you with the number, but you probably wouldn’t believe me. Remember the importance of the baton pass. Teach young people to start investing early. Don’t be like 64 year-old Ned, a former student of mine who said he’d just begun doing some financial planning and discovered he could retire by 65 — but only for 45 minutes. Make it happen before you end up like him! Stop waiting for inspiration as all you are doing is feeding your procrastination.

3. THE WORLD’S GREATEST HOBBY WILL REWARD YOU

I began investing as a young man and then continued through my entire career as an entrepreneur. It began as a hobby — albeit a serious hobby. At the time, my assets were managed by a professional firm. When I transitioned to making my hobby a full-time avocation, I had already been a very serious student of investing for many years. Unlike some lazier novice investors who flame out early and quickly ( for some that may be a blessing in disguise) I continued to grow and succeed by bumping, grinding and persevering. If we commit ourselves to do what needs to be done and thereby grow as investors, the market will reward us as long as we’re willing to apply ourselves. The University of Wall Street will extract its tuition, but graduation pays immense dividends. It’s worth it! Investing Hell is reserved for “middle earth” which is where mediocrity resides. Far too many investors are by their own design sentenced to a life of investing mediocrity. Embrace this wonderful hobby! I believe author and professor Stephen R.Covey puts it nicely. “Sow a thought, and you reap an act; sow an act, and you reap a habit; sow a character, and you reap a destiny.” As an investor, growth is an obligation. The alternative is not financially attractive. Make the commitment.

4. THE METHODOLOGY OF POTHOLES

It might seem counterintuitive at first. It’s not what a novice investor wants to hear, but you’ll have far far more assets in your pocket over the long term if you first focus on what you should NOT do as an investor instead of trying to find the Holy Grail of stock trading methodologies. Once again, take heed of what Buffett and other Marker Wizards have advised. They will tell you that you can indeed outperform the market and actually possess mediocre investing skills — but there’s the big if — if you avoid falling into the most common potholes and don’t make all the usual mistakes and blunders that investors are prone to do over and over again. The reality is that the Methodology of Potholes will trump the Methodology of Investing, so to speak!

5. SIMPLE BEATS COMPLEX

Many investors have multiple university degrees, high IQs, and very successful careers. Generally, they are cerebral folks who understand complex stuff. That’s why they’re attracted to the stock markets and investing in the first place. Here’s the conundrum — one that I was myself was guilty of initially. Increased complexity is inversely related to profits. Simplicity (within reason) produces profits and clobbers complexity in most instances. Steve Jobs had it absolutely correct when he said, “Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains.” And you have to admit, Steve Jobs moved mountains. You can as well.

Till the next blog then, when I’ll present you investing essentials #6 through #10.

Trade well; trade with discipline!

Gatis Roze, MBA, CMT

StockMarketMastery.com

Author, “Tensile Trading: The 10 Essential Stages of Stock Market Mastery” (Wiley, 2016)Developer of the “Stock Market Mastery” ChartPack for StockCharts membersPresenter of the best-selling “Tensile Trading” DVD seminarPresenter of the “How to Master Your Asset Allocation Profile DVD” seminar

SPX Monitoring Purposes: Short SPX on 9/1/23 at 4515.77; cover short 9/5/23 at 4496.83 = gain .43%.

Gain since 12/20/22: 15.93%.

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

Today’s trading tested the gap of 9/6 on lighter volume, suggesting the gap has resistance and the market could stall near current levels. Option expiration week, which is this week, leans bullish. The bottom window is the 10-day average of the TRIN, which stands at .99; readings near 1.20 and higher are bullish. This low of a 10-day TRIN suggests market may not have enough panic to push higher. The next window higher is the VIX with a reading of 13.79; readings below 17 lean bullish. The market is not giving a clear signal. SPY could drop back to support near 444 and, if panic is present, could start a rally; if not present, the 444 SPY support may fail. Not a clear signal, so we will stay neutral for now.

Join me on TFNN.com Tuesday 3:30 Eastern; Thursday 3:20 Eastern, Tune in!

Last Thursday, we presented the SPX/VIX ratio, which leaned bullish (see last Thursday’s report). The bottom window in the chart above is the 5-day average of the TRIN, and the next window higher is the 10-day average of the TRIN. When the 5-day TRIN reaches 1.50 and 10-day TRIN reaches 1.20, a market low is near. The blue lines show when both 5- and 10-day TRIN reach bullish levels, and the red lines show only when the 10-day TRIN reaches bullish levels. Currently, both 5- and 10-day TRINS are not near bullish levels. The TRIN closes help to identify panic, and panic forms near lows in the market. Right now, the TRIN readings are not near levels where a worthwhile low is forming. There can be short term bounces, but a lasting low has not formed yet according to the TRIN indicators.

The bottom window is the 18-day average of the Up Down Volume percent, and the next window higher is the 18-day average of the Advance/Decline percent (both for GDX). This chart looks at the shorter timeframe, where signals can last as little as a week to as long as several months. The chart on last Thursday’s report for GDX looked at the big picture, where signals last years. Currently, both indicators closed above -10 and on a buy signal, and as long both indicators remain above -10, the buy signal will continue. We also have these indicators on a 50-day average, which looks at the intermediate-term where signals can last several months. These indicator trigger buy signals when both close above “0”; currently, both are coming in near -2 range and may kick in a buy signal in the coming days.

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.

In addition to analyzing the stock market’s overall performance, running scans when the market opens and after it closes is a good routine to follow. It can reveal some market activities you may not have thought about.

It’s interesting to note how many stocks from the Energy sector made it to the StockCharts Technical Rank (SCTR) scan I run every morning. While equities are still trying to figure out which way to go, crude oil prices have risen steeply. And energy stocks are running higher along with it.

FIGURE 1: SCTR SCAN RESULTS. Many stocks that made it to the SCTR scan on September 12 were in the Energy sector. Chart source: StockCharts.com. For educational purposes.

One of the stocks that showed up on the scan is Chesapeake Energy (ticker symbol: CHK). If you extend the chart to display a year of data, you’ll see that the trend has been relatively slow and steady.

FIGURE 2: CHESAPEAKE ENERGY STOCK HAS BEEN TRENDING HIGHER SINCE JUNE. The stock has room for more of the upside move, although an increase in volume would be more confirming.Chart source: StockCharts.com (click chart for live version). For educational purposes.

The stock has been trending higher since June, and its SCTR score is above 70. The relative strength of CHK relative to the S&P 500 ($SPX) is climbing, although it’s still relatively weak. The stock still has some room for upside movement, and the company pays out dividends to shareholders.

Note: To know how much the company will likely pay in dividends, check out the Symbol Summary page under Member Tools.

Go through the charts of the stocks that made it to the SCTR scan and identify those that meet your trading criteria. Last week, Diamondback Energy (ticker symbol: FANG) was the featured stock in this blog. It’s still a scan candidate.

As long as the Energy sector continues to trend higher, it’s worth adding some energy stocks to your portfolio. There are two sides to the coin. One is that crude oil prices are on their way to reaching triple digits. The other is that if crude prices go much higher, demand pressures will come into play. Consumers will feel the pinch when they fill their gas tanks. Some analysts question whether there’s enough buying to push oil prices higher.

A good proxy for following crude oil prices is the United States Oil Fund (USO). The weekly chart below shows that price continues to rise. The first major resistance level would be at around the $90 level.

FIGURE 3: UNITED STATES OIL FUND (USO) IS A GOOD PROXY TO FOLLOW WTIC CRUDE OIL PRICES. After a steep fall in 2020, oil prices have recovered. How much higher will they go remains to be seen.Chart source: StockCharts.com (click on chart for live version). For educational purposes.

Trading Chesapeake Energy

Chesapeake Energy’s stock has been rising steadily since June, but, except for a couple of volume spikes in August, volume has been relatively average. You could take advantage of the rise in oil prices by adding CHK or any other energy stock you have identified. For CHK, look for an increase in volume, because you want to see some momentum behind it.

Watch the crude oil market via the futures ($WTIC) or USO. This will help you keep track of the energy market, which will help you decide whether you should reduce, add, or close your positions.

SCTR Crossing Scan

[country is US] and [sma(20,volume) > 100000] and [[SCTR.us.etf x 76] or [SCTR.large x 76] or [SCTR.us.etf x 78] or [SCTR.large x 78] or [SCTR.us.etf x 80] or [SCTR.large x 80]]

Credit goes to Greg Schnell, CMT, MFTA.

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.

The S&P 500 SPDR bounced the last three weeks, but we did not see an improvement in breadth. Weak breadth is also reflected in performance for mid-caps and small-caps, which are lagging. Even so, SPY and QQQ are in short-term uptrends and I am watching the tech sector for clues.

Breadth is Not Keeping Pace with the Bounce – Plus MDY, IWM and XLK

These charts were part of Tuesday morning’s Chart Trader report at TrendInvestorPro. The first chart shows the S&P 500 with the red vertical line marking August 18th. The index is up 2.8% since date. The first indicator window shows SPX %Above 200-day SMA moving sideways since this move (red shading). There was no improvement during the bounce. The second window shows SPX %Above 50-day SMA also moving sideways and remaining below 50%.

The next chart shows SPY, the S&P MidCap 400 SPDR (MDY) and the Russell 2000 ETF (IWM) since January 2023. SPY exceeded its February high and is currently around 7.5% above this high. MDY and IWM failed at the February high and are currently around 5% below this high. Small-caps and mid-caps are not the place to be.

Large-cap techs are the place to be. QQQ and XLK are leading the market and helping the large-cap weighted S&P 500 (SPY). The next chart shows XLK with a breakout in late August and short-term uptrend (blue dashed lines). At this point, traders must decide what it would take to prove this bullish stance wrong.

The dashed lines show a possible rising flag (bearish pattern). XLK is testing the flag line after a decline last week. There is also the big surge on August 29th (Marubozu candlestick). I am using the low of this candlestick to mark support at 169. A close below 169 would erase this big gain and clearly break flag support. Such a move would be bearish.

Check out the Chart Trader report at TrendInvestorPro for more details. Tuesday’s report updated levels for SPY and QQQ, highlighted TLT and covered yield spreads. We also provided some analysis and setups for ITB, SOXX, PPA and five stocks. Click here for immediate access. 

Click here it learn about the TIP Indicator Edge Plugin for StockCharts ACP.  

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House lawmakers return to Capitol Hill for the first time in six weeks on Tuesday, but some factions have already begun to draw battle lines for Congress’ coming fight over how to fund the government for the next fiscal year.

The chamber is expected to vote on military funding this week, its second of 12 appropriations bills. Leaders in the House and Senate have both acknowledged that a deal must be struck on a stopgap funding bill, called a continuing resolution, to give both sides more time to reach an agreement.

If no deal is reached by Sept. 30, lawmakers risk sending the government into a partial shutdown.

As Speaker Kevin McCarthy works to build consensus within his House GOP majority, here are five major demands conservatives have made that could force a standoff between McCarthy’s conference and Democrats in charge of the Senate and White House.

DOJ weaponization

Allies of former President Donald Trump in Congress have called for an end to the ‘weaponization’ of the Justice Department in exchange for their support on any spending deal, particularly in the wake of the four indictments launched against the ex-president.

It was also a key part of the House Freedom Caucus’s formal position on agreeing to government funding.

The group called for measures aimed at the DOJ and FBI ‘to focus them on prosecuting real criminals instead of conducting political witch hunts and targeting law-abiding citizens.’

‘Woke’ Pentagon policies

Conservative Republicans are expected to put an emphasis on repealing the Biden administration’s progressive military policies on LGBTQ issues and diversity, equity and inclusion (DEI) efforts as lawmakers debate the defense spending bill this week.

In an internal memo to lawmakers sent late last month, the 175-member Republican Study Committee (RSC) pointed out that a host of conservative, anti-‘woke’ policy items were passed in the House’s version of the National Defense Authorization Act in July. It said the bill secured ‘funding for the Department of Defense (DOD) while countering Biden’s woke attacks on military personnel.’

Rep. Chip Roy, R-Texas, suggested to reporters on Monday that the defense appropriations bill might not even survive a floor vote if key demands in that area are not met.

‘If we want to try to get it across the finish line this week, I’m certainly open to having those conversations, but only if we get the policy changes that need to occur,’ Roy said. ‘Why would I fund transgender surgeries? Why would I fund the continued diversity, equity, inclusion officers that are dividing the Pentagon?’

Lower spending levels

McCarthy committed to Republicans to having the House pass appropriations bills at fiscal year 2022 spending levels, despite previously agreeing to roughly freeze spending at fiscal 2023 levels during negotiations with President Biden over raising the debt limit.

It’s already set the House on a collision course with the Senate, which is cobbling together its appropriations bills with toplines outlined by the McCarthy-Biden deal – about $120 billion dollars higher than the House GOP’s.

The demand for lower spending levels appears to be the most widely shared among House conservatives, though lawmakers have not settled on where to make those cuts.

Border security

Several hardliners in the GOP conference have called for any government spending deal to attach the party’s border security package, another wish-list item that’s virtually guaranteed to hit a wall of Democrat opposition.

Both the RSC memo and the Freedom Caucus’s official position have called for attaching the Secure the Border Act to an eventual continuing resolution, which lawmakers will likely need to pass to extend the current government funding priorities past Sept. 30 and avoid a shutdown.

Rep. Byron Donalds, R-Fla., said last week that he believes there’s a number of Republicans ready to vote against a continuing resolution that does not tackle border issues.

‘We’re basically done with this. It’s time to do the right thing. Secure the southern border,’ Donalds said.

Impeaching Biden

While a significant number of House Republicans still appear wary of launching impeachment proceedings against President Biden, Rep. Marjorie Taylor Greene, R-Ga., among the most vocal conservatives in the chamber, has made it a requirement of her support for a spending deal.

‘I’ve already decided: I will not vote to fund the government unless we have passed an impeachment inquiry into Joe Biden,’ Greene told constituents at a town hall.

However, not all members of McCarthy’s right flank agree. Roy told reporters on Monday that impeachment and government spending are, and should be, two separate processes.

This post appeared first on FOX NEWS

FIRST ON FOX: A new Senate Republican-led bill aims to make sure Americans are well aware of what is real online and how to spot content generated by artificial intelligence (AI).

Sen. Pete Ricketts, R-Neb., is introducing legislation on Tuesday to direct relevant federal agencies to coordinate on the creation of a watermark for AI-made content, including enforcement rules. That watermark would then be required on any publicly distributed AI images, videos and other materials.

‘With Americans consuming more media than ever before, the threat of weaponized disinformation confusing and dividing Americans is real,’ Ricketts told Fox News Digital.

‘Deepfakes generated by artificial intelligence can ruin lives, impact markets and even influence elections. We must take these threats seriously.’

Ricketts said his bill ‘would give Americans a tool to understand what is real and what is made-up.’

Officials in the Department of Homeland Security, Department of Justice, Federal Communications Commission and Federal Trade Commission would be tasked with laying out the guidelines.

Earlier this month, search giant Google unveiled a new policy that would see technology known as SynthID used to permanently embed a watermark on an AI-generated image.

It comes amid concern over the pitfalls of AI’s rapid advancement as increasingly sophisticated technology becomes more accessible.

Financial markets had been shaken this year and briefly dipped when an image of what appeared to be an explosion at the Pentagon circulated on the internet in May. It turned out to be AI-generated.

There is also growing concern that hostile actors could wreak havoc on the 2024 U.S. elections by using fake AI content.

It’s part of what has prompted a flurry of AI hearings and legislation in Congress as lawmakers scramble to get ahead of the rapidly advancing technology.

But at least one expert told senators at an Energy Committee hearing last week that watermarks, while helpful to an extent, will likely not be enough to stop malign foreign actors from injecting fake AI content into American information channels.

‘There will be many open [AI] models produced outside the United States and produced elsewhere that, of course, wouldn’t be bound by U.S. regulation,’ said professor Rick Stevens of the Argonne National Laboratory in Illinois.

‘We can have a law that says ‘watermark AI-generated content,’ but a rogue player outside the [country] operating in Russia or China or somewhere wouldn’t be bound by that and could produce a ton of material that wouldn’t actually have those watermarks. And so it could pass a test, perhaps.’

This post appeared first on FOX NEWS

EXCLUSIVE: Internal government communications obtained by Fox News Digital show administration officials scrambled to respond to information requests pertaining to Transportation Secretary Pete Buttigieg’s use of government jets.

According to the communications, officials within the Federal Aviation Administration’s (FAA) independent office that handles Freedom of Information Act (FOIA) requests actively consulted with a spokesperson for Buttigieg and a senior FAA official appointed by President Biden when processing the requests. In addition, they discussed how to sort data, enabling them to avoid sharing taxpayer costs of Buttigieg’s flights.

‘It’s become increasingly clear that the Biden administration is engaging in purposeful political meddling to protect Secretary Buttigieg and hide the true cost of his taxpayer-funded private jet travel,’ Caitlin Sutherland, the executive director of government watchdog group Americans for Public Trust, told Fox News Digital. 

‘They continue to willfully ignore public disclosure laws, confirming the unofficial motto of this administration: Rules for thee, but not for me.’

In December, Fox News Digital reported that, based on flight tracking data, Buttigieg had taken 18 trips on an FAA-managed fleet of executive aircraft, reserved for government officials for occasions when flying commercial isn’t feasible. The flight records aligned with Buttigieg’s internal calendar obtained at the time by Americans for Public Trust.

Following that report, Fox News Digital filed an FOIA request for detailed information and costs of all flights logged by FAA planes since early 2021. For months, the DOT FOIA office repeatedly delayed providing the requested information. 

Then, on Feb. 27, the FAA finally shared the flight log for its private jets almost immediately after the Transportation Department’s inspector general announced an investigation into Buttigieg’s use of the planes. The FOIA office, though, opted to leave costs associated with all the flights carrying Buttigieg and his advisers blank and ignored multiple attempts for clarification.

One day later, Fox News Digital filed a second FOIA request, asking for all internal communications related to the first request from December. Those communications were turned over this month.

‘One thing I did discuss with Randa: where we provide the ‘…cost the FAA charged for the flight…’, to use a header for that column that is something like ‘OMB Circ A-126 Cost,’’ Wil Riggins, the vice president of the FAA Flight Program Operations office, said in a Jan. 20 email to other officials discussing the Fox News Digital request from December.

Randa appears to be a reference to Alexandra Randazzo, a senior FAA attorney.

The email from Riggins — who remains the most senior official in the Flight Program Operations office which maintains the government jets — came in response to an email thread from a month prior in which a senior adviser said they would hold on any action related to the request until ‘preliminary discussion’ was conducted. 

Further, by altering how costs for the flights requested by Fox News Digital were defined, the FAA appeared to have found a loophole to avoid sharing such cost information.

On Jan. 30, six days after his email, Riggins then abruptly contacted Transportation Department spokesperson Benjamin Halle and FAA Assistant Administrator for Communications Matthew Lehner, who Biden appointed to the position in 2021, to arrange a conference call discussing the FOIA request. The call took place less than an hour later.

‘Wil, is it possible to send over the spreadsheet when you get a sec? I know it’ (sic.) not final, I just want to check it against our record to make sure what we have is all accurate,’ Halle emailed after the call.

Riggins responded shortly after with the entire flight log of Buttigieg’s flights on government jets. In addition, on Jan. 30, FOIA manager Dean Torgerson informed other officials that the responsive records were compiled, meaning the entirety of the records Fox News Digital requested were produced about a month before the FAA finally shared them on Feb. 27.

The communications additionally show Riggins repeatedly delayed giving his final signature on the FOIA production for reasons unknown to lower-level FOIA managers. 

At one point, on Feb. 14, a senior adviser to Riggins arranged a phone call with Torgerson who inquired about the delay. A week later, on Feb. 27, when Torgerson was asked by others whether the FOIA records had been given a final signature, he said he ‘advised that their Deputy VP can sign on behalf of the VP.’

After additional back-and-forth, Torgerson was informed on Feb. 27 at 1:10 p.m. that Riggins had finally signed off on the records, allowing them to be shared with Fox News Digital. Four minutes later, The Washington Post, citing information given to it by the Department of Transportation, scooped that agency’s inspector general had opened its probe into Buttigieg.

After the FOIA was shared, Fox News Digital emailed the FOIA office multiple times, asking for clarification on why the taxpayer costs of Buttigieg’s flights were omitted. While the agency never responded, the emails show officials discussed the issue offline.

‘The FAA follows FOIA requirements and regulations which include ensuring a complete response,’ the FAA said in a statement to Fox News Digital. ‘We routinely provide internal notifications about FOIA updates and responses.’

Riggins did not respond to a request for comment.

And in a separate email to Fox News Digital, Lehner said it is standard FAA practice that the FOIA office advises ‘when a media FOIA is released.’ However, the emails showed Lehner communicated with Riggins several weeks before the FOIA was released.

This post appeared first on FOX NEWS

Protesters stormed House Speaker Kevin McCarthy’s Congressional office on Tuesday, demanding that he and other House Republicans re-up funding for an AIDs relief program.

Protesters with Housing Works pressed their way into McCarthy’s office and refused to move until Capitol Hill Police arrived and arrested them. The group was demanding a 5-year reauthorization of the PEPFAR global AIDs relief program, which they say has saved ’25 million lives.’

Images of the incident show protesters sitting on the floor of McCarthy’s office and linking arms as bemused staffers remain at their posts.

‘We’re proud to use nonviolent civil disobedience, among other tactics, to demand that our government take action to end AIDS,’ the group wrote on X, the platform formerly known as Twitter.

McCarthy’s office did not respond to multiple requests for comment on the incident, but Capitol Police confirmed to Fox News Digital that they arrested seven individuals.

‘This morning, multiple individuals were demonstrating inside a House Office Building. After the demonstrators refused to cease demonstrating, USCP then arrested the 4 males and 3 females for Unlawful Entry,’ Capitol Police said in a statement.

Congress has until September 30 to re-up the law guaranteeing funding for the PEPFAR program, but agreement on the issue appears unlikely. The law had previously been renewed on a five-year rolling basis.

The program will still continue if Congress does not renew the law, but its funding will become subject to the annual budget battle.

McCarthy is already facing an impending battle over the annual budget as House lawmakers return to the Capitol for the first time in six weeks on Tuesday. Leaders in the House and Senate have both acknowledged that a deal must be struck on a stopgap funding bill, called a continuing resolution, to give both sides more time to reach an agreement.

If no deal is reached by Sept. 30, lawmakers risk sending the government into a partial shutdown.

Fox News Elizabeth Elkind contributed to this report.

This post appeared first on FOX NEWS

Former 2020 Democratic White House hopeful Andrew Yang reportedly said he’s had ‘conversations’ with No Labels regarding the organization putting forward a third-party presidential run in 2024. 

In his discussion at Politico’s headquarters in Virginia while in town promoting his new novel, ‘The Last Election,’ Yang reportedly side-stepped when questioned if No Labels specifically approached him as possible candidate. 

‘I’ve had conversations with various folks who are associated with No Labels,’ Yang, who broke with the Democratic Party two years ago, told Politico. ‘We have a lot of friends and people in common.’ 

Yang, also a former New York City mayoral hopeful, remains listed as the co-chair for the Forward Party, a nonpartisan group promoting rank-choice voting and nixing partisan primaries, which he told Politico is focusing on local elections to impact national politics from the bottom up. 

By contrast, No Labels is pursuing access to the ballot in enough states to potentially put forward a third-party, centrist unity ticket to win the White House next year. Potential third-party candidates reportedly being considered include Republican New Hampshire Gov. Chris Sununu, former U.S. Ambassador to China Jon Huntsman, former Republican Maryland Gov. Larry Hogan and Sen. Joe Manchin, D-W.Va.

During his interview with Politico, Yang categorized himself as an ‘anyone-but-Trump guy.’ 

‘I would not run for president, if I thought that my running would be counterproductive, or if it would increase the chances of someone like Donald Trump becoming president again,’ he said. 

He also surmised a potential rematch between former President Donald Trump and President Biden in 2024 would be ‘terribly unrepresentative and borderline ridiculous,’ noting both candidates’ ages. 

‘I mean, you’re talking about two guys whose combined age is 160,’ Yang told Politico. ‘In a country of 330 million people, you would choose these two gentlemen at this stage? I mean, it makes zero sense.’

Especially cynical of Biden’s chances, Yang laid out scenarios where a third-party candidates would hurt the current president’s likelihood of a second term. 

Yang predicted Cornel West, who is running on a Green Party ticket, to draw two to three percent of voters in 2024, representing a large share of the vote Jill Stein received in 2016. Yang also said he expected current Democratic presidential candidate Robert F. Kennedy Jr. to change to a Libertarian Party, saying Kennedy could draw a similar number of voters as West. Yang stressed presidential elections are decided by a few hundred thousand votes across key swing states but declined to say which candidate he’d personally vote for if he lived in those states. 

‘I mean, the field’s still coming together,’ Yang said.

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