ETF Summary

The Biden administration announced this week that it is extending protection from deportations to more than 330,000 immigrants from four countries who were shielded by temporary protected status (TPS) – although one top Democrat senator said the move ‘simply does not go far enough.’

The Department of Homeland Security announced that it is rescinding a move by the Trump administration to end TPS for nationals from El Salvador, Honduras, Nepal and Nicaragua and extending the protections for an additional 18 months. It is expected to shield about 337,000 immigrants, some will be here illegally or at risk of overstaying their visa.

TPS authority allows the Department of Homeland Security to protect nationals of designated countries living in the U.S. from potential deportation if they are eligible, allows them to apply for work permits and gives them the freedom to travel. TPS is based on three grounds: armed ongoing conflict, environmental disasters or ‘extraordinary and temporary conditions.’

There are currently 16 countries designated for TPS, many of them either designated or extended by the Biden administration. Critics of the administration on the right have decried the use of the authority as ‘amnesty-lite.’

‘Through the extension of Temporary Protected Status, we are able to offer continued safety and protection to current beneficiaries who are nationals of El Salvador, Honduras, Nepal, and Nicaragua who are already present in the United States and cannot return because of the impacts of environmental disasters,’ said DHS Secretary Alejandro Mayorkas said in a statement. ‘We will continue to offer support to them through this temporary form of humanitarian relief.’

However, despite the broad use of the authority by the Biden administration, Sen. Bob Menendez, D-N.J., criticized DHS for not going a step farther and excluding both Guatemala and Venezuela.

‘I am glad the Biden administration has reversed the Trump administration’s cruel and misguided decision to rescind TPS designations for El Salvador, Honduras, Nicaragua and Nepal,’ he said. However, this decision simply does not go far enough.’

CBS News reported this week that some top administration officials opposed expanding TPS, citing concerns about it potentially leading to an increase in illegal immigration at the southern border.

In a statement, Menendez said he was concerned that the decision ‘may have been driven in part by political calculations instead of sound policy rationale and the conditions in each country.’

He called on the administration to ‘more aggressively leverage’ its authority on TPS to address ‘long-standing challenges of our immigration system.’

The Biden administration has called for a pathway to citizenship for millions of illegal immigrants – including TPS recipients. Menendez led the Senate push for legislation that included such an amnesty in 2021, but it failed after failing to pick up Republican support in the upper chamber.

Adam Shaw is a politics reporter for Fox News Digital, primarily covering immigration and border security.

He can be reached at adam.shaw2@fox.com or on Twitter.

This post appeared first on FOX NEWS

Politics

Massachusetts Gov. Healey recommends 7 pardons halfway through first year in office

Gov. Maura Healey recommended pardons for seven individuals Thursday, an unusual move for a Massachusetts governor just five months into her first term.

In recent decades, governors have typically waited until near the end of their time in office to make similar recommendations.

Healey, the state’s former attorney general, said the seven individuals had been fully vetted.

‘I believe deeply in our justice system and the important work of making it more fair and equitable for all of our residents,’ Healey said at the Statehouse. ‘Justice delayed can be justice denied.’

Healey said the seven had been convicted of crimes years ago at a young age, had accepted responsibility, and had spent decades abiding by the law. The crimes ranged from drug possession to assault to breaking and entering.

Healey said the past convictions have blocked the individuals from fully continuing on with their lives.

‘These men and women have been carrying the burden of convictions and dealing with the consequences far beyond their legal sentences,’ she said. ‘They deserve compassion and pardoning them is the right thing to do.’

The pardons must be approved by the eight-member Governor’s Council.

Healey said the administration is working to revise clemency guidelines — taking into account factors like racial disparities and brain development in young people — and added that clemency provides an opportunity to ‘soften the harshest edges’ of the criminal justice system.

One person recommended for a pardon is Glendon King. In 1992, at the age of 30, King was convicted of a number of drug charges. He had served in the U.S. Army and the Army National Guard and later joined the Boston Fire Department.

King said he succumbed to peer pressure in the events leading up to his conviction.

‘Unfortunately that was the wrong decision. I regret that up until this day,’ he said. ‘There’s the right way and the wrong way. I eventually took the wrong way for a short moment of time, but I got right back on track.’

Terrance Williams was convicted of assault and battery with a dangerous weapon in 1984 after he got into an altercation at age 15 with a friend, who he said remains a friend. He’s worked at the Boston Water and Sewer Commission for the past three decades but has been denied a job at a private security company.

‘We were just horsing around in school,’ he said. ‘Here I am 39 years later getting a pardon.’

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Politics

Wedding barn regulations, liquor law overhaul win bipartisan support in Wisconsin Legislature

A proposal to regulate wedding barns in Wisconsin as part of an overhaul of the state’s liquor laws won bipartisan support Thursday, advancing as the Republican-controlled Legislature moves swiftly to enact the sweeping bill.

An Assembly committee voted 12-2 to pass the measure just two days after a public hearing at which owners of wedding barns across the state said the proposed changes would put them out of business. The bill, which has been years in the making, was brought by Republican legislative leaders and agreed to by stakeholders with a wide array of interests. It affects every level of the state’s alcohol industry — governing the licensing, producing, selling and distribution of beer, wine and liquor.

The bill also attempts to resolve questions about primarily rural facilities that host weddings and other events where alcohol is served. The facilities, which have grown in popularity in recent years and operated in a legal gray area, currently do not need a liquor license to operate.

Under the bill, wedding barns that host more than six events a year would have to obtain a Class B liquor license, which would allow them to serve beer, wine and liquor.

Lawmakers on the Assembly’s state affairs committee on Thursday dismissed concerns brought by some wedding barn owners that the requirements were too onerous.

‘This bill is not going to put anyone out of business,’ said Republican Rep. Michael Schraa. ‘They just have to change their business model a little bit.’

Committee chair, Republican Rep. Rob Swearingen, said wedding barns were the ‘wild west’ and needed to be regulated in the name of public safety.

‘We’re talking about beverage: alcohol,’ he said. ‘We’re not talking about chocolate milk.’

Democratic Rep. Tod Ohnstad, one of three Democrats who joined all nine Republicans in voting to pass the bill, said it attempts to level the playing field for banquet halls, taverns and others who must get liquor licenses to operate and wedding barns, which don’t need a license.

The Legislature was expected to pass it on Wednesday, which would then send it to Democratic Gov. Tony Evers. His spokesperson did not immediately return a message seeking comment on the measure. Evers’ administration was involved with the drafting of the bill.

Wedding barns are just one small part of the proposal that makes changes to the state’s so-called three-tier system, created in the 1930s. The three-tier system refers to alcohol suppliers, distributors and retailers. The system, designed to prevent monopolies, has been eyed for changes for years, but policymakers and the alcohol industry have been unable to reach agreement.

This year though, the measure has broad support from some of the nation’s largest alcohol sellers to some of the state’s best-known smaller craft breweries. Distributors and retailers are also on board, leaving wedding barn owners as the most prominent opponent.

In one of the biggest changes, the bill would create a new division in the state Department of Revenue to oversee and enforce liquor laws. It would also allow for expanded hours at wineries, permit brew pubs to operate stand-alone retail stores and create a new statewide bartender license.

Supporters include Anheuser-Busch Companies, Kwik Trip, Molson Coors Brewing Co., New Glarus Brewing Company, the Wisconsin Craft Beverage Coalition, the Wisconsin Grocers Association and the Wisconsin Wine and Spirit Institute.

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Politics

California teacher suspended for allegedly targeting White students on basis of race, gender

FIRST ON FOX: A San Francisco school district suspended a teacher for discriminating against White male students, according to California Public Records Act documents obtained by Fox News Digital.

Nicole Noel Henares allegedly asked White male students in her high school English class to stand up and answer if they ‘felt like a minority’ during the 2022 fall semester.

Henares’ actions made the Lowell High School students feel ‘confused, sad and that there was no correct answer for them in that moment,’ they said in interviews with the district.

After a parent submitted a complaint, the San Francisco Unified School District placed Henares on paid administrative leave, starting Sept. 15, 2022, to conduct an investigation before assigning her Dec. 12 to a 15-day unpaid suspension to be served Dec. 13 to Jan. 12.

The San Francisco Unified School District did not respond to Fox Digital’s question about whether Henares is still employed by the high school, but Henares’ LinkedIn lists her as an SFUSD high school English teacher.

The National Council of Teachers of English (NCTE) wants states to discard literacy standards and incorporate teachings of ‘race, antiracism, anti-Blackness, and LGBTQIA+’ in K-12 classrooms.

The world’s largest education-content publisher made a commitment to ’embedding anti-racism’ in teaching and learning.’

Henares’ singling out of the students was ‘in no way related to the class content,’ the students said in interviews during the district’s investigation. Students also confirmed the use of inappropriate materials in Henares’ class, including the sexually explicit Lil Nas X song ‘Montero.’

The teacher allegedly admitted to singling out the White male students ‘out of frustration and anger’ in investigative interviews Oct. 14 and Nov. 10. She claimed the students dominated the class conversation, pushing her to single them out, but the students present denied this.

Henares denied teaching the Lil Nas X song, though the district found the song to be downloaded on Google Classroom in two different places, and multiple students confirmed she taught the profane pop song.

Henares began working for the district in October 2020. She did not respond to Fox Digital’s request for comment.

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Stocks

Speaking of AI — A Look at Our Alpha Rotation

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

Those who read our Daily and follow us on the media know that we talk a lot about risk gauges. The big focus for me personally is the relationship between the S&P 500 and the long bonds. The other 2 I watch are the relationships between junk and long bonds, and the S&P 500 and gold. All have flashed risk on for some time.

Our Alpha Rotation quantitative strategy that MarketGauge developed uses a combination of market internals, proprietary risk gauges, and market phases to determine risk-on or risk-off. If the math is aligned, we allocate to the major indices, U.S. treasures or cash. We then use both non-leveraged and leveraged versions for our entries. Furthermore, the model is built with initial risk parameters and profit targets. All automated.

The point of my showing you this today is to show you how the “math” has been smart. And the rally has been technical.

While the fundamental number crunching analysts hate this rally, the technical traders and retail investors have had a party. Hence, should the risk gauges change, it stands to reason the now trailing stops will be hit. It also stands to reason that the long bonds will show us the way.

On Wednesday, after the FOMC we said, “We love to watch the Long Bonds as they are a key factor in our risk gauges that help us see risk on/off.” We asked, “What might the Long Bonds be telling us?”

The chart is fascinating.

TLTs ran right up to 2 major moving averages, the 50-DMA (blue) and the 200-DMA (green). The Real Motion Indicator is now a bullish divergence pattern as the red dots cleared the 50-DMA. All the while, the indices enjoyed the rally that continued Thursday-although small caps were dragged along more for the ride.

Keep your eyes on the long bonds. Should TLTs clear and confirm over the moving averages, we might see a shift in the risk gauges. However, to see a shift in risk, the S&P 500 would also have to either stop rallying and consolidate or begin to drop from current levels.

Of course, if the TLTs head lower and the S&P remains strong, risk on until further notice. And we are documenting all of this so you can know what to look at and what to prepare for.

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

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.

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

“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

Ahead of the Fed’s announcement, Mish shares her take on major currency pairs, starting with EUR/USD, in this appearance on CMC Markets.

Mish joins Ash Bennington to discuss the market’s response to today’s inflation data, the AI-powered tech rally, whether we’re seeing signs of exhaustion in equities ahead of the Fed announcement on Real Vision.

Mish explains how the Russell 2000 is the canary in a coal mine on Business First AM.

Mish offers her technical forecasts for gold, EUR/USD, USD/JPY and WTI Crude Oil ahead of today’s CPI report on CMC Markets.

Mish Schneider and TG Watkins continue their chat about the business of trading in this video from StockCharts TV. Topics range from their work/home life balance, how being a consumer does or does not play into their trading decisions, and what they do in their free time to unwind.

Mish and Nicole Petallides go over rates, key sectors and the economy in this video from TD Ameritrade. They also discuss what raw materials are coming into vogue.

Mish and Jon talk about what could make markets continue or reverse and what to buy right now on BNN Bloomberg’s Opening Bell.

Mish and Charles talk inflation fears, the “wall of worry” and trading large-caps on Fox Business’ Making Money with Charles Payne.

The first 5 months of 2023 have been rallying on optimism going forward. Will that continue for the next few months? Mish digs into that question in this Twitter Spaces conversation with Wolf Financial.

Mish discusses impacts of weather, labor market and the FED on tap on Fox Business’ Coast to Coast with Neil Cavuto.

The US dollar rallied following a positive US jobs report last Friday, but could the Federal Reserve’s upcoming interest rate decision halt the greenback’s rise? Mish offers her views on USD/JPY, the S&P 500, and light crude oil futures on CMC Markets.

Mish talks GME (Gamestop) and more on Business First AM.

Where is the US economy actually heading? Rajeev Suri of Orios discusses this question and what trends suggest with Mish in this video.

Coming Up:

June 16: Mario Nawfal ETSpaces, 8am ET

June 19: Making Money with Charles Payne, Fox Business

June 22: Forex Premarket Show with Dale Pinkert

June 23: Your Daily Five on StockCharts TV

ETF Summary

S&P 500 (SPY): 440 clears-14 month high now-comments on risk in this Daily should help what to look for.Russell 2000 (IWM): 23-month MA 193 still a bit away.Dow (DIA): 34,000 in the Dow now pivotal.Nasdaq (QQQ): 370 target really close.Regional banks (KRE): 42 support, 44 pivotal.Semiconductors (SMH): 150 now major support.Transportation (IYT): 237 area the 23-month moving average-one place that really makes us believe things are better than okay.Biotechnology (IBB): 121-135 range.Retail (XRT): Back over the 200-DMA and again, needs to confirm and end the week above it.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

Stocks

How’s the US Dollar Reacting to the Fed’s Rate Hike Skip?

Maybe you were expecting the dollar to fall a bit more dramatically (and for gold to rise) when, after the FOMC meeting yesterday, the Federal Reserve announced that it was holding interest rates steady for the first time after 10 consecutive hikes. But the bearish response was a bit lackluster.

Why So Tepid a Response?

Well, a “skip” in hiking interest rates is a skip, meaning the central bank will hike rates again after taking a breather to analyze the current economic environment and to take in more data. So, the central bank left the Fed Funds rate unchanged at 5.00–5.25%, but it also hinted that two more are in store before the end of the year.

So, for dollar bears (and gold bulls), the near-term forecast is pretty much what the technicals have indicated for weeks: the dollar is heading toward a decline. Just how far and to where? Let’s take a closer look, using the Invesco DB US Dollar Index Bullish Fund (UUP) as our dollar proxy.

On a Weekly Scale, UUP’s Looking Up After a Breather

The weekly chart of UUP appears pretty bullish, except that it’s looking to test support near the $27.50 range. But before getting into that, let’s look at the bullish indicators (see chart below).

CHART 1: WEEKLY UUP CHART SHOWS A SLIGHTLY WEAKENING UPTREND. Price is looking to test support between $27.25 and $27.50 for a third time, potentially forming a triple bottom. Chart source: StockCharts.com. For illustrative purposes only.

UUP’s price may be whipsawing the 50-period Simple Moving Average (SMA), but it’s also holding well above the trendline projected from September 2021. The 50-period, 100-period, and 200-period SMAs are also in full sail, indicating a fairly strong uptrend, despite remaining in “overbought” territory for six months in 2022, based on the Relative Strength Index (RSI) reading.

Here’s the thing: If you’re looking to go long UUP, the price action on a weekly scale may seem to paint a bullish picture (because it is, technically speaking). But the distance between where the price is now and how much further down it can go can seem pretty alarming once you zoom in for a closer look.

On A Daily Chart, UUP Appears to Be Tripling Its Bottom

If you look at the price action on a daily scale, the situation doesn’t look very favorable, at least not yet.

CHART 2: DAILY CHART OF UUP. The blue rectangle illustrates the anticipated support range. In addition, you can see that prices appear bound to test support for a third time, potentially forming a triple bottom.Chart source: StockCharts.com. For illustrative purposes only.

Prices bottomed once in February at $27.22 and again between April and May near the $27.75 range. Technically, there was a third, rather dramatic drop, followed by an equally dramatic rejection/bounce in June at that same level. Now, prices are looking to work their way back down to test support again for a third time. Are we looking at a possible Triple Bottom Reversal? Should the price move to test its previous support range, we’re looking at a 3% drop from current prices.

On the upside, however, take a look at the difference in the Chaikin Money Flow (CMF), corresponding with the price peaks on March 7 and June 2 (see red vertical arrows). Simply put, the difference in buying pressure is immense and, to that end, immensely bullish.

How to Trade UUP

First, UUP is clearly sinking today. Rate hikes may be bullish, but not for the near term. Allow the anticipated formation (testing support third time) to play out.An aggressive entry point would be to go long when price reaches or sinks below $27.75, with a stop below $27.20. A more conservative entry point, though one with greater price risk, is to wait for price to break above the most recent swing high at $28.72, placing a stop below $27.50 (or lower depending on how much further down price declines).If you plan on swing trading UUP, then you might want to measure the height of the formation, which is currently $1.50 (High of 28.72 – Low of 27.22 – 1.50) and add that, or a multiple of that figure, to the top of the formation at $27.82 for a price target. Your stop would be around $27.20, or wherever you see fit according to your trading strategy.

The Bottom Line

The Federal Reserve’s pause in rate hikes is causing a near-term dollar decline, and prices are looking to form a classic triple bottom pattern. But given the rate hikes to come, there is plenty of upside room for UUP to run once it completes the current pattern. Monitor the market closely, and if you’re looking to go long the dollar, strategically choose your entry point based on your time frame, risk tolerance, and return expectations (e.g. swing trade versus longer-term position trade).

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.

Stocks

Major Indexes Have Reached Bull Market Perticipation Levels

DecisionPoint Alert Chart List

A Silver Cross is when a stock’s 20-day EMA crosses above the 50-day EMA, and that event rates the stock to be bullish in the intermediate term.. DecisionPoint’s Silver Cross Index (SCI) expresses the percentage of stocks in the index that have a Silver Cross. We currently consider a Silver Cross Index reading of 50 percent or higher to be bullish for that price index. We normally report these readings on Friday, but as of today all the major indexes we track have SCI readings above 50 percent.

It would be too cumbersome to show all their charts, so for the purpose of illustration, here is the chart of the S&P 500 Index SPDR (SPY) with Silver Cross Index. There is still a considerable negative divergence versus price, but we think that is well on the way to being erased. And, conversely, there is plenty of room for improvement before overbought levels are reached.

Here is a truncated version of the weekly SCI table showing the major indexes in the top group, miscellaneous Industry Groups in the middle, and the 11 S&P 500 Sectors at the bottom. Note that all but Gold Miners have shown improvement this week, and all the major indexes have reached bull market participation levels of 50 percent or more. The QQQ reading of 70 percent reflects the problem with the rally, which is that the mega-cap tech stocks are primarily leading the charge.

On the negative side, six of the 11 S&P 500 Sectors have not reached the SCI 50 percent reading yet, and half the Industry Groups are recalcitrant.

Conclusion: While mega-cap tech stocks are weighting the market indexes higher, we can see that other stocks are beginning to join the parade, and all the major indexes we track are at bull market participation levels.

Learn more about DecisionPoint.com:

Watch the latest episode of DecisionPoint on StockCharts TV’s YouTube channel here!

Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin

Helpful DecisionPoint Links:

DecisionPoint Golden Cross/Silver Cross Index Chart List

DecisionPoint Sector Chart List

DecisionPoint Chart Gallery

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

SCTR Ranking

Bear Market Rules

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

Stocks

A Foray into Currency Pairs

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

Teaching an old dog new tricks means that the tricks might be new, but the notion of doing tricks is familiar.

Case in point-currencies and trading currency futures.

We have traded ETFs UUP and FXE (dollar and Euro) in the past.

And, I have been vocal through the years on predicting dollar tops and bottoms relative to other currencies.

What I have not really done much of before is look at currency pair futures. Until lately.

Because of requests from traders that live overseas, we have been doing research, education and trade ideas focused on currencies and the futures rather than ETFs.

With that, I wish to share 2 charts (on the same currency pair) that I find interesting.

The platform we are using for the charts is TradingView.

A couple of pointers ahead of the analysis.

First, the ratio is defined by the lead currency. For the Dollar to Yen charts, this is how the dollar looks in comparison. So if the chart breaks out you are buying the first currency against the second one.

Secondly, we have our Real Motion Indicator on the TradingView platform. The rules are the same as when RM is posted on any other charting platform.

The first chart of the Dollar versus the Japanese Yen features a look since February-March 2023.

The second chart is the Dollar versus the Japanese Yen looking back to the breakdown in November 2022.

From February until mid-May, the dollar rose in price against the yen to the 200-day moving average twice and failed to clear that moving average.

On May 17th, the dollar broke out and held that 200-DMA and is now consolidating between 138 to 140.50.

Real Motion is more interesting in that the red dots (or momentum indicator) sits right on (slightly above) its 200-DMA.

The price had cleared it on May 17th. Now that momentum is finally catching up, it seems that a move above 140.75 is compelling.

The longer-term view chart tells us if the USD/YEN does indeed clear this resistance, it could run to 142, or higher.

The day it broke down hard or November 10, 2022 the selling began once price fell below 145.

That makes that level the strongest resistance.

Here are the fundamental implications:

The USD/JPY currency pair has traditionally had a close correlation with U.S. Treasuries.

When interest rates head higher, Treasury bond prices go down, which lifts the U.S. dollar, strengthening USD/JPY prices.

If the USD does indeed break out, we do have to ask, what might the implication be not only for yields, but also for the S&P 500?

Perhaps we are running too rich?

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

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 offers her technical forecasts for gold, EUR/USD, USD/JPY and WTI Crude Oil ahead of today’s CPI report on CMC Markets.

Mish Schneider and TG Watkins continue their chat about the business of trading in this video from StockCharts TV. Topics range from their work/home life balance, how being a consumer does or does not play into their trading decisions, and what they do in their free time to unwind.

Mish and Nicole Petallides go over rates, key sectors and the economy in this video from TD Ameritrade. They also discuss what raw materials are coming into vogue.

Mish and Jon talk about what could make markets continue or reverse and what to buy right now on BNN Bloomberg’s Opening Bell.

Mish and Charles talk inflation fears, the “wall of worry” and trading large-caps on Fox Business’ Making Money with Charles Payne.

The first 5 months of 2023 have been rallying on optimism going forward. Will that continue for the next few months? Mish digs into that question in this Twitter Spaces conversation with Wolf Financial.

Mish discusses impacts of weather, labor market and the FED on tap on Fox Business’ Coast to Coast with Neil Cavuto.

The US dollar rallied following a positive US jobs report last Friday, but could the Federal Reserve’s upcoming interest rate decision halt the greenback’s rise? Mish offers her views on USD/JPY, the S&P 500, and light crude oil futures on CMC Markets.

Mish talks GME (Gamestop) and more on Business First AM.

Where is the US economy actually heading? Rajeev Suri of Orios discusses this question and what trends suggest with Mish in this video.

Mish joins Rajeev Suri of Orios Venture partners to discuss the Fed, inflation, and buybacks in this video on LinkedIn.

In this episode of StockCharts TV’s ChartChats, Mish Schneider and TG Watkins (creator of the Moxie Indicator) sit down for a candid chat about working with other StockCharts contributors. Learn what TGs strategy for trading is, and how the the Moxie Indicator came to be. Mish shares her background and how she got started in the industry.

With Congress having reached a deal after months of debt ceiling talks, what direction could the US dollar move in, and what could this mean for the USD/JPY? Mish explores the market movements in this appearance on CMC Markets.

Mish joins Rajeev Suri of Orios Venture partners to discuss the trend toward a risk-on situation in this video on LinkedIn.

Mish weighs in on the overnight slump across the board on the benchmarks and where the momentum is heading on Singapore Breakfast, available on Spotify.

Mish explains how reversal patterns could come to the fore this week in this appearance on CMC Markets.

Mish joins Rajeev Suri of Orios Venture partners to discuss the possibility of economic stagflation in this video on LinkedIn.

Mish discusses how AI is being used to invest in this article for BNN Bloomberg.

Coming Up:

June 13: Daily Briefing on Real Vision

June 14: CMC Live Trading in London 1:30 ET

June 22: Forex Premarket Show with Dale Pinkert

June 23: Your Daily Five on StockCharts TV

ETF Summary

S&P 500 (SPY): Another move higher-starting to think we are close to a top 440 target.Russell 2000 (IWM): 23-month MA 193 still a bit away.Dow (DIA): 34,000 in the Dow-thinking next 6-months not as pretty.Nasdaq (QQQ): 370 max target.Regional Banks (KRE): 42 support, 44 pivotal.Semiconductors (SMH): 150 now maj0r support. Lots of models took profits into this run.Transportation (IYT): 237 area the 23-month moving average.Biotechnology (IBB): 121-135 range.Retail (XRT): Cleared the 200-DMA at 62.95-if this is good, it will stay above that level

Politics

‘Our country needs help’: Americans in nation’s biggest blue city grade President Biden’s performance

NEW YORK – Americans in the Big Apple offered lackluster grades for President Biden’s performance as he campaigns for re-election, with many citing the economy as a primary concern.

‘Our country needs help,’ Verdena from Nebraska told Fox News, awarding the president a failing grade. ‘And he’s not working for our country.’

‘The economy could be a little bit better,’ Susan from New York said, citing high inflation. ‘But there are other things I do agree with. So it’s kind of like passable but not exceptional.’ She gave the president a C.

A Quinnipiac University poll published Wednesday showed Biden with a 42% approval rating. Robert F. Kennedy Jr., a Democrat challenging the president’s re-election bid, had a 31% approval, but 43% said they weren’t familiar enough with him.

Among Biden’s potential Republican challengers in the 2024 race, former President Trump’s approval was 37% and Florida Gov. Ron DeSantis’ was 33%. The remainder were at 25% or below.

‘I think he’s done a really good job of handling the Russia-Ukraine situation,’ said Matt, giving the president a B-plus. ‘But domestically, there’s been some issues socially and economically that I haven’t been too happy with.’

‘PASSABLE BUT NOT EXCEPTIONAL’: AMERICANS IN NYC GRADE BIDEN:

Richard from Nebraska was less forgiving of economic issues, giving Biden a flat F grade.

Biden has just 33% approval when it comes to economic issues, according to a poll released last month by the Associated Press and the National Opinion Research Center (AP-NORC) at the University of Chicago. Americans polled also doubted the president’s ability to handle gun policies and immigration, at 31% for both issues.

‘He has screwed up our fuel prices,’ Richard said. ‘He’s screwed up the environment, the territory, the border. He’s not doing his job. He’s too old.’

Former White House physician and current Texas GOP Rep. Ronny Jackson raised flags over Biden’s health earlier this month on Fox News Channel’s ‘Hannity.’ Jackson said the president is ‘not fit mentally or physically’ after he fell on stage during a commencement ceremony at the U.S. Air Force Academy.

To hear more of Americans’ thoughts on Biden’s performance, click here.

Hannah Ray Lambert is an associate producer/writer with Fox News Digital Originals.

This post appeared first on FOX NEWS

Politics

GOP senators demand Biden comply with COVID origins transparency law as deadline approaches

EXCLUSIVE: Two Republican senators are demanding President Biden comply with the COVID origins bill he signed into law earlier this year, which requires the declassification of all information pertaining to the links between a Chinese lab and the origin of COVID-19.

The Biden administration has yet to act on the requirements laid out in the COVID-19 Origin Act of 2023 despite the deadline for the declassification – June 18 – quickly approaching.

‘We write today to urge the swift and complete implementation of the COVID-19 Origin Act of 2023, which Congress unanimously passed, and which you signed into law on March 20, 2023,’ Sens. Josh Hawley, R-Mo., and Mike Braun, R-Ind., wrote in a letter sent to Biden on Wednesday and shared with Fox News Digital.

‘As you know, the COVID-19 Origin Act of 2023 requires the Director of National Intelligence (DNI) to ‘declassify any and all information’ relating to links between the Wuhan Institute of Virology and the origin of COVID-19 within 90 days of the law’s enactment,’ they wrote.

Hawley and Braun added that the administration had not yet given any indication as to when the relevant material would be declassified, and noted that the law also required ‘all of the information’ to be transmitted to Congress.

They wrote that the law doesn’t allow for any redaction to the information, but that it did provide for narrower scope of redaction in order ‘to protect intelligence sources and methods.’

‘Your Administration should comply with the law as written and not undermine clear congressional intent to provide as much transparency to the American people as possible,’ Hawley and Braun wrote.

‘The American people deserve to know how this pandemic began, and their democratically elected representatives have expressed their will unanimously. I urge you not to stand in their way,’ they added.

Fox News Digital reached out to the White House for comment but did not immediately receive a response.

Brandon Gillespie is an associate editor at Fox News. Follow him on Twitter at @brandon_cg.

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