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A protester wearing a prison costume tried blocking former President Donald Trump’s motorcade following his arraignment in a Miami federal court where he pleaded not guilty Tuesday in connection with the alleged mishandling of classified documents at Mar-a-Lago.

Video of the incident shows the man holding a sign jumping in front of an SUV before being grabbed by what appeared to be Secret Service agents running alongside the vehicle. 

Video captured by Fox News’ Griff Jenkins from earlier in the day shows the same anti-Trump protester holding up a bright orange sign that read ‘Lock Him Up.’ 

It’s unclear if the man will face any charges for rushing Trump’s motorcade. 

Trump appeared in court with his arms folded most of the time and occasionally spoke with his lawyers. 

He was indicted Friday on 37 federal counts, including willful retention of national defense information, conspiracy to obstruct justice and false statements. 

The indictment accuses Trump of failing to comply with demands to return classified documents — including plans for a retaliatory attack on an unnamed foreign power — he had gathered in Mar-a-Lago.

Other documents include defense and weapon capabilities of the U.S. and details of the U.S. nuclear program.

‘The unauthorized disclosure of these classified documents could put at risk the national security of the United States, foreign relations, the safety of the United States military, and human sources and the continued viability of sensitive intelligence collection methods,’ the indictment says. 

It also accuses him of storing the documents in a bathroom and other places at the residence, and of even bragging and showing off the documents to visitors. In one instance, he is said to have told individuals of a document, ‘as president, I could have declassified it,’ and, ‘Now I can’t, you know, but this is still a secret.’

He is also said to have directed an aide to move boxes of documents demanded by a grand jury subpoena while claiming to have fully cooperated. The FBI opened a criminal investigation into the matter in March 2022.

After appearing in court, Trump stopped at a Miami cafe where he was greeted by religious leaders and supporters.

‘Food for everyone,’ he said. 

The crowd then sang ‘Happy Birthday’ to him. The former president’s birthday is June 14.

Fox News’ Adam Shaw and Jake Gibson contributed to this report. 

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Republican politicians across the country reacted with outrage Tuesday as former President Donald Trump was arraigned and pleaded not guilty to 37 federal felony charges in a classified records case.

GOP Rep. Elise Stefanik, called the arraignment a ‘dark day for our country’ as ‘Joe Biden continues to fully weaponize the federal government against President Trump, his leading opponent for the White House in 2024.

‘America was founded on the principle of equal justice under law,’ the New York Republican continued. ‘The American people see the glaring double standard: one set of rules if your last name is Biden or Clinton and another set of rules for everyone else. It’s never been more important that we unite behind President Trump’s historic campaign to win the White House, to restore the rule of law, and save our Republic. God bless America, President Trump, and all those targeted by Biden’s regime as we continue our efforts to end this corrupt political weaponization and stop the deep state.’

‘Make no mistake: at today’s arraignment you are watching a sitting President use his DOJ to put his top political rival in jail,’ Stefanik’s Republican colleague from South Carolina, Rep. Nancy Mace, said in a statement. ‘Both sides of the aisle should be able to set aside their emotions and see how dangerous of a precedent this sets.’

Mace’s fellow South Carolina Republican, Gov. Harry McMaster, also posted a statement calling Tuesday a ‘troubling day’ and said Trump opposition has gone ‘too far.’

‘I STAND WITH PRESIDENT TRUMP!’ Florida GOP Congressman Matt Gaetz tweeted. 

‘The Swamp fears President Trump, and that’s exactly why they’re doing everything possible to stop him,’ Ohio Republican Rep. Jim Jordan tweeted.

Trump pleaded not guilty to 37 federal charges stemming from Special Counsel Jack Smith’s investigation into his alleged improper retention of classified records at Mar-a-Lago in federal court in Miami, Florida on Tuesday.

The charges include willful retention of national defense information, conspiracy to obstruct justice and false statements.

This is the first time in United States history that a former president has faced federal criminal charges.

Fox News Digital’s Brooke Singman contributed to this report. 
 

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The legislative affairs director for the Arkansas Department of Parks, Heritage and Tourism is taking over as director of its Heritage Division.

Gov. Sarah Huckabee Sanders on Monday announced she was naming Marty Ryall to replace outgoing Arkansas Division of Heritage Director Jimmy Bryant. Bryant is retiring at the end of June.

‘I have a deep love and respect for our state, its unique history, her natural beauty, and our rich heritage,’ Ryall said in a statement. ‘It is a great responsibility and challenge that I am humbly honored to accept.’

Ryall has served as the department’s legislative affairs director since January and before that he was director of governmental affairs for Arkansas PBS. He’s also a former executive director of the Republican Party of Arkansas.

‘I appreciate Jimmy Bryant’s service to our state and know that Marty is the perfect candidate to take up Jimmy’s role,’ Sanders said in a statement. ‘Together, we will take Arkansas Heritage to the top.’

Ryall’s annual salary as Division of Heritage director will be $120,000, effective July 1 after Bryant retires, Sanders’ office said.

Arkansas Heritage oversees several facilities and offices, including the state archives, the Arkansas Arts Council and the Historic Arkansas Museum.

Ryall’s appointment follows the departure of three of the department’s top three officials. Secretary Mike Mills resigned his position earlier this month after less than six months. State Parks Director Shea Lewis is serving as interim secretary.

Travis Napper, the director of Arkansas Tourism, also recently announced he will step away from his position later this month to take a job in tourism consulting.

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U.S. District Judge Laura Taylor Swain has ordered attorneys to examine a potential receivership structure in a move that would seize control of Rikers Island from New York City.The city has also been ordered to monitor and report deaths and serious injuries in custody — both of which lend the facility some of its notoriety.Swain claims to have been pushed to reevaluate a potential takeover after being ‘shaken by the incidents of the past few weeks.’

A federal judge is once again weighing a takeover of New York City’s troubled Rikers Island jail complex, describing her faith in its leadership as ‘shaken’ following recent reports of violence, gruesome injuries and a lack of cooperation that has thwarted court oversight.

The emergency court hearing on Tuesday came after a federal monitor overseeing the jails system outlined a pattern of disturbing incidents — including detainee deaths and grave injuries — that jail officials failed to report as required last month.

The monitor, Steve Martin, said the city’s jails commissioner also personally lobbied him not to publicly release a report on those findings, claiming it would ‘fuel the flames of those who believe we cannot govern ourselves.’

In response, U.S. District Judge Laura Taylor Swain ordered attorneys for both detainees and the city to formally discuss a potential receivership structure, an extraordinary intervention that would end New York City’s control over one of the nation’s largest and most famous jails. Swain said she would consider the proposal in August.

She also ordered the city to notify the monitor immediately anytime someone dies or suffers a serious injury in custody, rebuking jail officials for flouting reporting requirements put in place following a 2015 federal consent decree.

‘I find that it is unfortunately necessary to clarify and underscore the responsibilities that have been imposed by orders that have been in place for years,’ she said during the three-hour video hearing.

Advocates for detainees say a federal receivership is necessary to stem the violence on Rikers Island, where 19 people died last year, the highest number in a quarter of a century. In November, the judge rejected calls for a receiver, allowing the city more time to undertake promised reforms.

Mayor Eric Adams has repeatedly touted the success of those efforts, pointing to a reduction in slashings and staff absenteeism since he took office and appointed Department of Correction Louis Molina in January 2022.

But on Wednesday, Judge Swain indicated her position on a federal takeover may be shifting, saying the court’s confidence in the city had been ‘shaken by the incidents of the past few weeks.’

She pointed to a report issued by the federal monitor detailing violent incidents that jail officials allegedly neglected to report to the monitor, including the death of a detainee who was originally said to have suffered a heart attack, but was later discovered to have died from a skull fracture.

Another man who attempted to flee from correction officers was tackled and paralyzed from the neck down, an injury the monitor said also wasn’t properly reported.

‘The Department’s approach to reform has recently become characterized by inaccuracies and a lack of transparency,’ the monitor wrote.

In addition to her concerns about reporting, the judge also called out efforts by city leaders ‘to shape public opinion and public perception on these very serious issues.’

In recent weeks, Adams and Molina have allowed select reporters to view footage of Rikers Island that they claim would undermine the monitor’s narrative. The Department of Correction has also said it will cease alerting the public about detainee deaths.

Asked about his agency’s media strategy on Wednesday, Molina said he was trying to protect against bad-faith criticism, arguing the monitor’s findings of chronic violence could undercut efforts to stabilize the jail system.

‘What I was trying to get the monitor to appreciate is that we have a number of groups that just want to see the department fail because it advances their position that Rikers Island or the city’s jail system should not exist,’ Molina said.

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If you missed the AI run, this could be an opportunity to jump into a related stock, which surprised when it showed up in the StockCharts Technical Ranking (SCTR) scan on June 13.

Intel Corp. (INTC) is a stock that could have some upside potential. Like most stocks in the Tech sector, INTC had its share of woes in 2022. While semiconductor stocks such as Nvidia (NVDA), Marvell Technology (MRVL), and Broadcom (AVGO) rallied strongly, INTC has been the laggard, struggling to follow along. But a strategic move by Intel may give the stock price a boost.

There’s a chance that INTC may be an anchor investor for Arm Holdings’ upcoming IPO. Why does this matter? Arm designs cutting-edge chips that are used by companies such as Apple (AAPL), Samsung, and Amazon (AMZN). Investing in Arm opens the door for INTC to join the AI boom. Given this development, it may be worth adding INTC to one of your ChartLists.

Zeroing In: Daily Price Action in Intel

INTC is trading above its 50-, 100-, and 200-day moving averages (see chart below). As long as the stock remains above the trading range it was stuck in for a few months and breaks above its April high, which it’s flirting with, the stock could have upside potential.

CHART 1: DAILY CHART OF INTC. After a long struggle, INTC may catch up to its semiconductor peers, as it may have a path toward joining the AI boom.Chart source: StockCharts.com (click chart for live version). For educational purposes only.

The SCTR score crossed the 70 level, but it has done that before and the stock price wasn’t able to follow through on the rally. Instead, price moved back within the trading range. Will SCTR stay above 70 this time? That remains to be seen.

Relative strength with respect to the S&P 500 index ($SPX) is weak, but is in positive territory and moving higher.

A Weekly Perspective

Looking at the weekly chart of INTC, a completed triple bottom has formed (see chart below). The stock price broke above the triple top on March 27 (hint: check the Inspect box located above the chart on the left side) on relatively high volume.

CHART 2: TRIPLE BOTTOM IN THE WEEKLY CHART OF INTC. A move above the breakout measured move price target could be a valid entry point.Chart source: StockCharts.com. For educational purposes only.

Tip: You can use the Inspect tool in SharpCharts to measure the height of the triple bottom to anticipate how much higher the stock’s price will likely move. Place your cursor at the bottom of the pattern and drag it to the top of the two peaks, which is at around $30 (red dashed horizontal line).

In the case of INTC, the measured move is $5. That means price would move at least $5 from the breakout point of $30 or to at least $35 (green dashed horizontal line).

On March 27, when price broke above the triple bottom pattern, it didn’t quite reach the $35—it pulled back and dipped below the $30 breakout point. It’s attempting to break above the $30 level again. Will it reach $35 this time? It could, but the price action after it reaches $35 is more important.

How to Trade Intel Stock

The first hurdle for INTC is to break above its April high. Once it does, look for a move above $35. If it happens with above-average volume, there’s a strong chance INTC will rally higher. In triple bottoms, generally, when price reaches the measured move price target, there’s a pullback. Price action after the pullback is important. How the price action during the pullback unfolds will provide clues as to how likely price is to rally.If price pulls back after reaching $35 and continues moving higher on above-average volume, it would be a good entry point signal.The first resistance level would be the 100-week MA. If price continues higher with momentum, there’s no need to exit the trade. Hopefully, by then, the 100-week MA turns upward. If price continues higher, you could set a trailing stop and take profits on partial positions.Keep an eye on the SCTR and relative strength on the daily chart. A SCTR > 70 means the stock is still worth holding. If the stock’s strength relative to the S&P 500 gets stronger, this stock could be a solid trade.

Other Stocks From the Scan

Here are some of the other stocks that showed up on the large-cap SCTR scan. Do you detect any industry trends?

Baidu, Inc. (BIDU)

Cardinal Health Inc. (CAH)

Caterpillar, Inc. (CAT)

Microchip Technology, Inc.  (MCHP)

NXP Semiconductor N.V. (NXPI)

Toyota Motor Corp. (TM)

Looking Back at Zillow

On June 6, Zillow Group, Inc. (ZG) was the featured SCTR scan stock. Let’s look at how that stock is performing.

CHART 3: DAILY CHART OF ZILLOW GROUP (ZG). The stock price didn’t reach the $48 entry point, which means no trade.Chart source: StockCharts.com (click chart for live version). For educational purposes only.

SCTR is moving lower, but is still above 70. Relative strength with respect to the S&P 500 index ($SPX) has fallen, but is still in positive territory. The stock price didn’t reach the $48 level, so no trade should have been made. Does it mean you should delete this stock from your ChartList? You could until it shows up in the scan result later. The stock is pulling back, and there’s a chance it could make another run for the $48 level.

SCTR Crossing Scan

[country is US] and [sma(20,volume) > 100000] and [[SCTR.large x 76] or [SCTR.large x 78] or [SCTR.large x80]]

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 Equal Weighted Index is continuing to advance higher led today by gains in Aluminum, Steel, Industrials and Consumer Cyclicals. This is great news for the possibility of a continuation rally as broader participation beyond mega-cap FAANMG and select Technology names will help keep the current uptrend in the markets in place. The S&P 500 Index is also flashing a bullish bias with today’s move taking it more decisively above the 4300 level which had been marked as a key longer-term area of possible upside resistance.

DAILY CHART OF EQUAL WEIGHTED S&P 500 INDEX

Investors can look at turnaround candidates such as Steel Dynamics (STLD) and Deere (DE) which are reversing downtrends today as they move above their 50-day moving averages with their MACD’s just entering positive territory on their daily charts. Select areas of Technology are continuing to rally as well, as interest in AI related companies remains strong. Investors can use the link below to trial my twice weekly MEM Edge Report for a list of top stock candidates that are poised to trade higher as well as sector rotation insights.

While the markets are behaving in a bullish manner, investors must be aware of Wednesday’s FOMC meeting with particular attention to Fed Chair Powell’s comments regarding interest rate policy going forward. Any hints of future rate hikes may have investor’s hitting the pause button.

For those with any questions including information about my other work, please email me at maryellen@thememgroup

Warm Regards,

Mary Ellen McGonagle, MEM Edge Report trial link

In this episode of StockCharts TV’s Sector Spotlight, I present an in-depth assessment of the current state of rotation in asset classes and sectors, and also share some background on where the split into three groups — offensive, defensive, and sensitive — is coming from. Spoiler alert: The rotation OUT of defensive sectors is accelerating.

This video was originally broadcast on June 13, 2023. Click anywhere on the Sector Spotlight logo above to view on our dedicated Sector Spotlight page, or click this link to watch on YouTube. You can also check out the video on the StockCharts TV on-demand website StockChartsTV.com, or on the associated app on mobile platforms like iOS and Android, or TV platforms like Roku, Apple TV, Amazon Fire TV and Chromecast.

Sector Spotlight airs weekly on Tuesdays at 10:30-11:00am ET. Past episodes can be found here.

#StaySafe, -Julius

The latest inflation data for the month of May lands on Tuesday morning.

Economists are forecasting an annual increase of 4%, down from 4.9% rate in April. On a monthly basis, forecasts point to a 0.1% increase, lower than April’s 0.4% reading.

In other words, inflation — and the high prices that result from it — is finally starting to meaningfully come down.

The decline has been helped by gasoline prices, which have steadily fallen after sharp increases last year that were largely the result of Russia’s invasion of Ukraine.

Nearly one year after inflation peaked at a 40-year high of more than 9%, analysts are now debating just how fast inflation will continue to fall.

Some things aren’t falling as dramatically

In a note to clients Monday, economists at Citibank said workers’ pay increases continue to be substantial at about 6% since March 2022. It’s a pace, they say, that is ‘consistent with underlying price inflation stably around 4.5% to 5%.’

Groceries are also continuing to see rapid increases. Prices for food ordered online climbed 8.2% over the past 12 months in May, according to data from the Adobe Digital Price Index, a separate reading unrelated to the inflation data published by the U.S. Labor Department.

While that metric is down from the 14.3% high last September, consumers are increasingly buying more of their groceries online, according to the Adobe data. As a result, the category has generally moved in lock step with the official Consumer Price Index.

Food prices are influenced by the same forces as other sectors, including higher wage costs, said Jayson Lusk, a professor and head of the Department of Agricultural Economics at Purdue University. In an interview, Lusk noted wages in the food service industry have jumped more than 20% for food and beverage retailers compared with pre-pandemic levels.

‘The cost of agriculture relative to other costs for food is small; it’s mainly labor, transportation, and real estate,’ Lusk said. ‘So if you’re looking at causes, it’s probably in those spaces.’

Central bankers make their move next

The Federal Reserve is still hoping to cool the overall inflation rate to 2%. On Wednesday, it will announce its latest interest rate policy, and is expected to hold the key federal funds rate at about 5% following 10 consecutive rate hikes since March last year.

By making it more expensive to borrow and invest, the Fed hopes to reduce demand for goods and services in the economy.

Though mindful of the consumer impact of price increases, the Fed tends to discount changes in food and gas prices, which are usually volatile.

Instead, it is now focused on price increases in services like the cost of travel, which includes airfare and hotel expenses. Those continue to surge, which is likely to keep inflation elevated.

“[The] magnitude of [service] price increase has failed to slow enough to be comfortable that inflation is firmly on a path to 2%,” Joe Davis, chief global economist at Vanguard, and Andrew Patterson, a senior international economist at Vanguard, said in a statement. They pointed to ongoing increases in wages as one reason this measure has proven sticky.

‘An easing in labor market pressures will be key in lowering this component,’ they wrote.

In a follow-up phone interview, Patterson noted employment in leisure and hospitality still has not reached pre-pandemic levels, which is causing pay in lower-wage industries to rise.

‘It’s taking longer than anticipated to resupply the workforce,’ Patterson said.

He added that if these workers continue to experience higher household inflation, they are more likely to demand higher wages.

‘That dynamic will take time to change,’ Patterson said.

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Members of the House Armed Services Committee are demanding several updates from the Pentagon on whether it is effectively using artificial intelligence to defend against growing threats from China and other adversaries.

The committee on Monday released its annual proposal for the defense policy bill known as the National Defense Authorization Act, which will be considered by various subcommittees starting Tuesday. The section of the bill that deals with cyber and information technology was accompanied by several demands for updates on the Defense Department’s efforts to incorporate AI into its national security posture.

One of these demands relates directly to China, which the committee said has an increasing presence in disputed waters around the world that threatens U.S. national security.

‘The committee is increasingly concerned about the ability of the United States to counter this threat due to the vastness of the maritime environment,’ the text said. ‘Maritime Domain Awareness (MDA), driven by artificial intelligence (AI), would enhance the Navy’s ability to monitor the maritime environment, increase strategic planning activities, and expose emerging threats through lead generation.’

The committee asked the Defense Department to brief its members on this issue by next February on its current use of ‘AI-driven MDA systems’ and how else AI might help the Navy quickly assess maritime traffic and determine possible threats.

Lawmakers on the committee said the Pentagon should also be using AI to help warfighters detect and analyze signals in the electromagnetic spectrum (EMS) that can indicate cyber and electronic warfare tactics.

‘The ongoing conflict in Ukraine has exposed the threat that adversarial electronic warfare systems pose,’ the committee said. ‘Accordingly, the committee believes that the Department of Defense should pursue capabilities that give the warfighter the ability to maintain awareness of the EMS environment and rapidly develop insights at the tactical edge.’

The committee said special operations forces have already used AI-driven systems to detect EMS signals and that the Pentagon should ‘increase the adoption of such technologies.’ It asked the Defense Department to brief members of the committee on this issue by Dec. 1.

Lawmakers noted a broad plan by DOD to create a Joint All-Domain Command and Control system that uses AI to assess data from a broad range of military sensors and make it easier for military commanders to make real-time decisions. They also said the Air Force could benefit from a similar system and asked the secretary of the Air Force to report to the committee by next January.

The committee pushed the Pentagon to report back on several other AI initiatives, including the creation of an ‘AI education strategy’ aimed at educating service members on how to use AI. Members want DOD to brief them on that subject by next March.

By December, the committee wants DOD to brief lawmakers on the infrastructure needed to build up AI capacity and what the Pentagon is doing to create more ‘red teams’ that road-test AI systems before they are deployed.

Committee members also want officials to study how to develop autonomy software and to ensure the Army uses AI to support the next generation of military helicopters developed under the Future Vertical Lift program.

In April, U.S. Central Command’s top AI adviser told Fox News Digital that the military is hoping it can use AI to quickly absorb data and help military leaders make faster decisions, but the adviser, Dr. Andrew Moore, said the goal is to keep people in charge of these decisions, not AI systems.

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Rep. Marjorie Taylor Greene, a Republican from Georgia, announced Monday she will introduce a measure to remove funding for special counsel Jack Smith’s office and his investigation into former President Donald Trump.

‘Today, I’d like to announce that I’m writing an appropriations rider to defund Jack Smith, special counsel, his office and the investigation,’ Greene said Monday on the House Floor. ‘This is a weaponized government attempt to take down the top political enemy and leading presidential candidate of the United States, Donald J. Trump.’

Smith was appointed by Attorney General Merrick Garland in November to investigate Trump’s handling of classified documents that he removed from the White House and transported to Mar-a-Lago when his term ended. 

Greene’s announcement comes as Trump is scheduled to be arraigned Tuesday in Miami, Florida, on 37 charges connected to the classified documents and alleged obstruction of justice. 

Greene argued that Smith’s investigation into Trump is politically motivated and claimed there was a double standard between Trump and Democrats who also were found to have removed classified material.

‘We cannot allow the government to be weaponized for political purposes,’ she said. ‘I’d also like to ask all of my colleagues to join me in this effort. We have to use the power of appropriations to stop the weaponization of government, especially in light that we know that there are others who are guilty of true crimes.’

She also made comparisons between how the Justice Department was handling Trump’s case and how it investigated former Secretary of State Hillary Clinton.

‘There should have been an investigation done into that,’ she said.

Greene also referenced classified documents belonging to President Joe Biden, which were removed during his time as vice president and later found in the Penn Biden Center in Washington, D.C. Additional documents were found at his home in Delaware. 

Special counsel Robert Hur is investigating Biden’s handling of classified documents.

‘Don’t forget Joe Biden’s documents that are sitting in his garage next to his Corvette where the door opens and closes,’ Greene said. ‘America sees this for exactly what it is and we will not allow it to stand.’

Florida Republican Rep. Matt Gaetz expressed support for Greene’s proposal. 

‘This is an Article I flex! I’m so here for it,’ he wrote on Twitter.

Rep. Andy Biggs, R-Ariz., said Sunday that the House should act in accordance with its constitutional duty to conduct oversight.

‘Congress can and should hold the Biden DOJ accountable by defunding their efforts during the appropriations process, executing the Holman Rule to remove and defund corrupt officials, and conducting oversight on its baseless investigations,’ Biggs said in a tweet.  

In a 49-page indictment, Smith argued Trump intentionally took secret documents with him as he left the White House in January 2021.

These documents included ‘information regarding defense and weapons capabilities of both the United States and foreign counties; United States nuclear programs; potential vulnerabilities of the United States and its allies to military attack; and plans for possible retaliation in response to foreign attack,’ Smith said.

Smith’s office also said the former president spoke to other people about the classified material. He also precariously stored them inside a ballroom, a bathroom and shower, an office space, his bedroom and a storage room at his club and residence at Mar-a-Lago, the special counsel alleged.

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