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North Dakota Gov. and former presidential candidate Doug Burgum was front and center at Donald Trump’s campaign rally in Wildwood, New Jersey, on Saturday, fueling speculation he remains a contender on the increasingly short list of potential running mates. 

Burgum was a guest on Trump’s ‘Trump Force One’ campaign plan. He briefly addressed the crowd before the former president took the stage. 

Bergum said working with President Trump was ‘like having a beautiful breeze at your back.’ 

‘President Trump respects state’s rights. He cut regulation. He lowered taxes,’ Burgum said. ‘Working under the Biden regulatory regime is like having a gale-force wind in your face.’ 

Later in Trump’s speech, the former president heaped praise on Burgum saying, ‘he probably knows more about energy than anybody I know.’ 

He then remarked ‘So, get ready for something, okay? Just get ready,’ but did not elaborate. 

Fox News Digital has reached out to the Trump campaign for comment. 

Last weekend, Trump held a closed-to-press gathering at the Four Seasons Hotel in Palm Beach and at his Mar-a-Lago estate with top donors and a list of ‘special guests.’ 

Among those were a number of Republican politicians — including Burgum — considered to be on Trump’s shortlist for running mate. 

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A controversial judicial nominee proposed by President Biden will expire at the end of the 118th Congress in just months, and some experts are speculating that this is just what the president and Senate Majority Leader Chuck Schumer, D-N.Y., are planning for. 

‘This nominee has lost all hope from the Biden White House of getting a floor vote, given we are months away from the election,’ explained Ron Bonjean, a former spokesman for former Sen. Trent Lott, R-Miss., and former chief of staff of the Senate Republican Conference. 

‘They are more than likely going to let him twist in the wind hoping he withdraws on his own,’ he continued. Bonjean ran communications for the Senate confirmation of Supreme Court Justice Neil Gorsuch while working in the upper chamber and has experience with the process. 

Neither the White House nor Schumer’s office provided comment to Fox News Digital regarding their plans for Mangi’s nomination and whether it would ever see the chamber floor for a vote, where it would likely fail.  

‘Having a vote and losing it, due to members of your own party, would only serve to advertise the problems the president is having related to the Israel-Hamas war,’ said Grant Reeher, a political science professor at Syracuse University. 

Ross Baker, Distinguished Professor Emeritus of Political Science at Rutgers University, suggested, ‘If there is any way in which a member of Congress can avoid taking a controversial vote, that would be the course that they will take on this nomination.’

One of the significant critiques of Mangi’s nomination has been his association with the Rutgers University Center for Security, Race and Rights (CSRR), where he served on the board of advisers from 2019 to 2023. CSRR has been accused of antisemitism, particularly in the wake of the Hamas terrorist attack against Israel and subsequent war.

Critics have pointed to an event held on the 20th anniversary of the Sept. 11, 2001, terrorist attacks that hosted controversial speakers such as Hatem Bazian, who in 2004 called for an ‘intifada,’ according to video from an anti-war protest in San Francisco. 

Another speaker was Sami Al-Arian, who, In 2006, pleaded guilty to ‘conspiring to provide services to the Palestinian Islamic Jihad,’ according to the Justice Department. 

Noura Erakat, a human rights attorney, Palestinian-American activist and associate professor at Rutgers, has also been a speaker for CSRR. It was uncovered that she had separately been advertised as a panelist for an event alongside Hamas commander Ghazi Hamad. 

CSRR did not provide comment to Fox News Digital.

‘That’s not a message you want six months out from an election,’ Reeher added. 

The political science professor concluded that the odds of Mangi’s confirmation are low, noting, ‘Three Democrats have publicly said they would vote no, and it’s unlikely that he will get any Republican votes.’

Both Democratic Nevada Sens. Catherine Cortez Masto and Jacky Rosen came out against Biden’s nominee, citing concerns from law enforcement constituents and Mangi’s connection to a controversial and allegedly anti-law enforcement group. 

Mangi is a current advisory board member of the Alliance of Families for Justice (AFJ). The group’s founding board member was Kathy Boudin, who notably pleaded guilty to the felony murder of two police officers in 1981 after they died following an armored truck robbery. 

The robbery was carried out by the Weather Underground Organization, an FBI-designated domestic terrorist group, of which Boudin was a part.  

‘If religion, by itself, should not be an obstacle to confirmation, association with a controversial organization would probably be fatal,’ Baker explained.

‘Judges, especially, should be seen as free of problematic associations,’ he added. 

Senate Judiciary Committee Chairman Dick Durbin, D-Ill., has emerged as the fiercest proponent for Mangi, even as his confirmation likelihood looks dim. 

A spokesperson for the committee told Fox News Digital, ‘Sen. Durbin will continue to point out the false, baseless nature of Senate Republicans’ accusations against Mr. Mangi, a historic nominee who is well-qualified for the federal bench. These guilt-by-association smears are blatantly hypocritical coming from Senate Republicans and their dark money allies, who worked to confirm objectively unqualified nominees to the federal bench during the Trump Administration.’ 

Durbin did not provide comment on whether he thinks Biden and Schumer are waiting for the nomination to expire and whether he would be frustrated by this. 

His office also did not say if he would like to see it come to the floor for a vote. 

Sen. Tom Cotton, R-Ark., a member of the committee, claimed, ‘Adeel Mangi’s credible ties to antisemites and terrorist sympathizers make him wholly unqualified to serve as an appellate judge.’

‘By refusing to pull his nomination, President Biden is choosing to play electoral politics with our country’s judiciary,’ he said. 

Senate Minority Leader Mitch McConnell, R-Ky., addressed the still-active nomination of Mangi in floor remarks on Thursday, criticizing Democrats for mounting ‘an all-out campaign to gin up left-wing support for Mr. Mangi.’ 

He claimed they ‘can’t rebut these disqualifying associations because they’re facts.’

‘For the past few months, Democrats have paraded Mr. Mangi in front of liberal interest groups in order to secure their endorsements,’ McConnell explained, referring to a number of endorsements the Biden administration has rolled out to shore up support for the nominee, who would be the first Muslim circuit appellate court judge. 

The minority leaders suggested the meetings with these groups call into question Mangi’s ethics. 

Mangi did not return a request for comment to Fox News Digital. 

While Biden doesn’t appear to be publicly pushing Mangi’s nomination in the wake of Democratic defectors, ‘There is always a chance that there could be another push to confirm him during the lame duck session before the next Congress,’ said Bonjean.   

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Senate Republican campaign chief Steve Daines is tempering any talk of a red wave this autumn leading to a large GOP majority in the chamber.

‘I want 51. That’s the majority,’ the chair of the National Republican Senatorial Committee (NRSC) told Fox News Digital this week when asked what he’s aiming for in November’s elections.

Democrats control the U.S. Senate, 51-49, but Republicans are looking at a favorable Senate map this year, with Democrats defending 23 of the 34 seats up for grabs. 

Three of those seats are in red states that former President Trump carried in 2020 — Ohio, Montana and West Virginia, where Democratic Sen. Joe Manchin is not running for re-election. 

 

‘The first state that we know that we’re going to win at this point is West Virginia,’ Danies said. ‘There’s one pickup seat right there.’

Five more Democrat-held seats are in key general election battleground states. Democrats are also defending an open seat in blue Maryland, where popular former two-term Republican Gov. Larry Hogan is running for the Senate.

‘We like where Larry’s at. We know that’s going to be a tough race because Maryland is a blue state, but it’s a Hogan state first and foremost,’ Daines argued.

While the map favors the GOP, Daines, the junior senator from Montana, is on the same page as longtime Senate Republican leader Mitch McConnell, who also appears to be pouring cold water on hopes of sweeping victories. 

And he’s striking a very different tone than his predecessor, Sen. Rick Scott of Florida.

Scott predicted a 55-seat majority would come out of the 2022 midterms, but he fell far short as Republicans faced ballot box setbacks in key contests and failed to win back the Senate majority they lost in the 2020 cycle.

‘As we looked at the results of ’22, nobody was happy,’ Daines said in a sitdown interview at his office at the NRSC. ‘Everybody likes winning. Nobody likes to lose. We looked first and foremost at a strategy that would start with finding candidates that could win not just primary elections but general elections.’

Daines made news in a Fox Digital interview in December 2022 as he was coming onboard as NRSC chair. The senator vowed to do ‘whatever it takes to make sure we have a Republican majority.’

And that included having the NRSC get involved in contested GOP primaries, which marked a significant change from his predecessor on the committee.

Fast-forward a year and a half, and Daines says ‘we’re positioned now in most of these states with candidates that not only can win primaries but are making every general election race right now competitive.’

Plenty of the blame for 2022’s GOP Senate election setbacks was directed at Trump, who shaped key primary battles. In some of the races, the nominees either supported or begrudgingly disavowed Trump’s repeated re-litigating of his 2020 election defeat to President Biden and his unproven claims his loss was due to a ‘rigged’ and ‘stolen’ election. 

Herschel Walker in Georgia, Blake Masters in Arizona, Adam Laxalt in Nevada and Mehmet Oz in Pennsylvania, who won their primaries due in part to Trump’s endorsements and support, all went down in defeat.

It’s been a different story in 2024, with Trump, the NRSC and McConnell mostly on the same page when it comes Senate race recruitments.

Daines credits his ‘strong productive working relationship, a friendship,’ he has with Trump, which has bridged the still-lingering intra-party divide between the former president and McConnell.

‘From the very beginning, the president and I have worked very closely, very carefully, finding candidates that we agree on, that are the best candidates that can not only win primaries but general elections,’ he noted. ‘We compare notes… there’s trust built there, constructive dialogue. We text and speak to each other frequently … as we shape the Senate map for 2024.’

But Daines hasn’t been able to totally avoid competitive and contentious primaries. 

The Trump-supported Bernie Moreno earlier this year won a combustible nomination battle in Ohio, although the contest wasn’t as bitter as the 2022 GOP Senate primary slugfest in the Buckeye State.

And Republican Senate primaries are heating up in Michigan and Nevada, where Trump and the NRSC are once again backing the same candidate.

In Nevada, Sam Brown, a former Army officer who was severely injured in the Afghanistan war, has the backing of Trump and the NRSC. But former Trump Ambassador to Iceland Jeff Gunter has vowed to spend ‘whatever it takes’ to defeat Brown.

In Michigan, wealthy investor and entrepreneur Sandy Pensler is spending big bucks on a major ad blitz as he takes aim at former Rep. Mike Rogers, the one-time FBI agent and former House Intelligence Committee chair who is endorsed by Trump and supported by the NRSC.

‘He has the full, complete, 100% endorsement and support of President Trump, of the NRSC, and that’s why Mike Rogers will win that primary,’ Daines emphasized.

The rival Democratic Senatorial Campaign Committee argues that stories about the NRSC’s successes so far this cycle may have been prematurely written.

‘Senate Republicans’ roster of recruits is reeling from a series of reports uncovering their lies about their biographies, vulnerabilities tied to their finances and a lifetime of toxic statements and policy positions,’ DSCC spokesperson Tommy Garcia argued in a statement to Fox News. ‘Meanwhile, their primaries in states like Nevada and Michigan are erupting in chaos. The NRSC’s big bet to back a bunch of unvetted carpetbaggers is looking worse by the day.’ 

Regardless of the Democrats’ criticism, Daines remains optimistic — and one reason is President Biden.

Daines says having Biden at the top of the Democrats’ ticket this autumn is making his job easier.

Daines argues Democrats ‘have got to really combat the incredible headwinds they will face with a president who is so unpopular. Joe Biden makes Jimmy Carter look like a superstar. This is a real problem that the Democrats have.’

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Senate Foreign Relations Committee chairman Sen. Ben Cardin, D-Md., said Friday that military aid to Israel should continue in a departure from the White House position.

In a statement, Cardin said he disagreed with President Biden, who has threatened to withhold offensive aid from Israel if it proceeds with a ground invasion of the southern Gaza city of Rafah, where millions of Palestinians have sought refuge from the war. 

‘While the most recent report regarding Israel under the NSM-20 has raised concerns, I agree with its assessment that Israel has not violated International Humanitarian Law and that military assistance to support Israel’s security remains in the U.S. interest and should continue,’ Cardin said. 

‘In this regard, I differ with President Biden’s recent decision,’ he said. 

Cardin’s statement came in response to a State Department report released Friday, which raised ‘serious concerns’ based on credible U.N. and non-governmental sources about alleged human rights violations by Israeli forces. The report documented credible allegations of human rights abuses by Israeli security forces, ‘including arbitrary or unlawful killings, enforced disappearance, torture, and serious abuses in conflict.’ 

The State Department report also said an estimated 34,700 Palestinians have been killed in the conflict with Israel since the Oct. 7 Hamas terror attack, citing figures from the Gaza Ministry of Health. The report deemed the estimate ‘credible’ but noted that the Hamas-controlled ministry does not distinguish between Hamas fighters and civilians in casualty counts.

The State Department said it is ‘reasonable to assess’ that U.S. defense articles ‘have been used by Israeli security forces since October 7 in instances inconsistent with its [international humanitarian law] obligations or with established best practices for mitigating civilian harm.’ However, the report came short of accusing Israel of specific humanitarian law violations and noted that Hamas hides military targets behind civilian populations and infrastructure. 

Israel’s continued military operation in Gaza has created a political problem for Biden as left-wing anti-Israel agitators in the U.S. have grown increasingly upset at his support for Israel. 

Biden signed off on a pause of a shipment of bombs to Israel that could be used in a potential assault on Rafah last week — but the White House National Security Council kept the decision quiet until after the president delivered a long-planned speech on Tuesday to mark Holocaust Remembrance Day, the Associated Press reported.

The shipment was supposed to consist of 1,800 2,000-pound bombs and 1,700 500-pound bombs, a senior U.S. administration official told the AP on the condition of anonymity to discuss the sensitive matter. 

In an interview with CNN on Wednesday, Biden said he would halt some shipments of U.S. weapons to Israel if Prime Minister Benjamin Netanyahu ordered a major invasion of the city of Rafah, the last major Hamas stronghold in the Gaza Strip. It was the first time Biden said he was prepared to condition American weaponry on Israel’s action in the seven-month-long war launched in response to the Oct. 7 terrorist attacks. 

‘Civilians have been killed in Gaza as a consequence of those bombs and other ways in which they go after population centers,’ Biden told CNN’s Erin Burnett. ‘I made it clear that if they go into Rafah – they haven’t gone in Rafah yet — if they go into Rafah, I’m not supplying the weapons that have been used historically to deal with Rafah, to deal with the cities — that deal with that problem.’ 

His decision has prompted backlash from a growing chorus of pro-Israel Democratic lawmakers — now including Cardin — some of whom have suggested Biden’s decision was motivated by politics and the upcoming election in November. 

‘I suspect it’s pandering to the far left,’ Rep. Ritchie Tores, D-N.Y., told Axios. ‘It looks like election year politics was driving it. That’s my impression.’ 

The Democratic Party is divided on Israel amid a massive wave of student protests at U.S. college and university campuses. Anti-Israel agitators have set up illegal encampments on at least 50 campuses and more than 2,800 have been arrested by police called to disperse the unlawful gatherings, according to the Associated Press.

Sen. John Fetterman, D-Pa., an outspoken advocate for Israel’s right to defend itself from Hamas, told Axios that he opposed Biden’s pause on weapons shipments. 

‘I strenuously disagree,’ Fetterman said. ‘We have to stand with our key ally throughout all of this.’

Sen. Jacky Rosen, D-Nev., said security assistance to Israel should be ‘unconditional’ while Israel faces threats from Iran and its proxy groups, like Hamas. 

‘The administration should not do anything that undermines Israel’s ability to defeat Hamas and address mounting threats across the region,’ she told Jewish Insider.

Sen. Richard Blumenthal, D-Conn., agreed that U.S. support for Israel should continue. 

‘I don’t know what the president meant. I haven’t seen what the actual operation in Rafah is, but I certainly hope that we’ll continue to provide support militarily and diplomatically that Israel needs to defend itself,’ he said. 

The White House pushed back on the suggestion that Biden’s decision on Israel was motivated by politics. 

‘The American people expect their presidents to have the guts to make hard national security decisions, and to put our safety, interests, principles, and alliances above politics,’ White House spokesman Andrew Bates said in a statement. ‘That’s exactly what Joe Biden is doing.  He is standing with Israel as they fight the Hamas terrorists who committed the hideous October 7th attacks, and is making clear that how Israel defends itself matters because we do not want to see any more civilians killed.’

‘Joe Biden is the only president in our history to have ordered the American military to actively defend Israel from a foreign attack, and the only president to have literally stood with Israel — on Israeli soil — during wartime,’ Bates added. 

Fox News Digital’s Jeffrey Clark and Danielle Wallace contributed to this report.

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Former President Trump dismissed a report Saturday that claimed he and his campaign were considering former South Carolina Gov. Nikki Haley, his former GOP presidential primary opponent, to serve as his running mate in the 2024 presidential election.

‘Nikki Haley is not under consideration for the V.P. slot, but I wish her well,’ Trump wrote in a post to Truth Social.

Trump’s post came after a report from Axios, citing ‘two people familiar with the dynamic,’ claimed Haley was in the running to be Trump’s nominee for vice president.

Haley launched her presidential campaign in February 2023, becoming the first major candidate to challenge Trump, who had announced his candidacy three months earlier. And she was the final rival to Trump, battling the former president in a two-candidate showdown from the New Hampshire primary in late January through Super Tuesday in early March.

Haley announced she was suspending her White House campaign on March 6, one day after Trump swept 14 of 15 GOP nominating contests on Super Tuesday.

To date, Haley has declined to endorse Trump.

‘It is now up to Donald Trump to earn the votes of those in our party and beyond it who did not support him. And I hope he does that,’ Haley said in March, as she pointed to those who supported her during her White House run.

Haley has not spoken with Trump since exiting the race, a source in her orbit confirmed to Fox News earlier this week.

In a sign of potential trouble for Trump in his general election rematch with President Biden later this year, Haley continues to grab votes in the Republican primaries even though she’s long gone from the presidential nomination race.

Haley won nearly 22% of the vote in Tuesday’s GOP presidential primary in Indiana, which was open to not only Republicans but also independents and Democrats.

During her White House bid, Haley advocated a muscular U.S. foreign policy to deal with global hot spots such as the war between Russia and Ukraine and the fighting between Israel and Hamas, often offering a stark contrast with Trump’s America First agenda of keeping the nation out of international entanglements.

Haley traded fire over America’s overseas role with rival Vivek Ramaswamy, an advocate of Trump’s America First philosophy, during the GOP presidential primary debates.

Reacting to his father’s dismissal of the report, Donald Trump Jr., the former president’s eldest son, wrote in a post to X, ‘Oh Thank God!!! Word on street is that her people were floating this bulls— because she has a PAC fundraiser [M]onday and is trying to sell attendance!!!’

Haley is expected to huddle early next week with some of the top donors to her Republican presidential campaign, sources confirmed to Fox News this week. She will reportedly use the two-day gathering on Monday and Tuesday in Charleston, South Carolina, to thank her major contributors.

A Haley source said the former ambassador is not expected to encourage donors to contribute to Trump’s general election campaign and that no endorsement of the presumptive GOP presidential nominee is pending.

Fox News’ Paul Steinhauser contributed to this report.

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Supporters of Donald Trump came out in droves Saturday to hear the former president speak at a campaign rally in Wildwood, New Jersey, as the GOP front-runner faces ongoing trials in New York, D.C., Georgia, and Florida. 

The rally was expected to draw more than 40,000 supporters. Rep. Jeff Van Drew, R-N.J., who spoke ahead of Trump, dubbed it the largest political rally in the state of New Jersey. 

Many attendees who spoke to Fox News said they believe Trump could flip the Garden State in November, when he hopes to take back the White House for a second term. 

Rod Delaine, an Amazon factory worker in Staten Island who lives in New Jersey, told Fox News Digital he drove nearly two-and-a-half hours to attend the rally. 

A New Jersey schoolteacher who identified herself as Anna, said she was motivated to attend because of the state of the economy. 

Another supporter, who identified himself as Carlos, said he believed the country needed to go back to the way things were under the former president. 

‘I think this country needs to change — although, we already know what Trump’s all about. So, that change is just going to come right back to us because that’s what we need,’ Carlos said. ‘We need Trump because I don’t think Biden is just getting the job done right now. Some of it’s his fault. Some of it is probably the people around him. But I think we need Trump back to get this country back to where it needs to be.’

Asked about Trump’s prospect in November, Carlos pointed to the large crowd gathering and said: ‘Take a look.’ 

‘There’s probably about six to 7,000 people waiting online and probably more. [The line] goes all the way back to the entrance. So, you’re looking at 35- to 40,000 people at this venue right now,’ he said, noting that some people had been waiting since Thursday for the venue to open.’ 

Another attendee, who identified himself as ‘Frank from PA,’ owns a small landscaping business. He told Fox News Digital his struggling business was a huge factor in supporting Trump. 

‘Finding help is hard. And the cost of fuel and everything has just been outrageous,’ he said, adding that gas has gone up ‘exponentially’ under the Biden administration. 

‘I’m looking forward to things turning around and getting better again,’ he said. ‘The majority of people that I know in my industry are not fans of Biden, because they’re struggling just like I am.’ 

Another attendee, who identified herself as Lucille from Forked River, New Jersey, said she felt ‘hopeful’ about the 2024 election. Asked what her biggest concern was this election season, she said: ‘Immigration’ and ‘closing the borders.’

‘Everything else will fall into place,’ she said. 

Two other attendees – Ronnie Felino and Kate Statlin from New Jersey – told Fox News Digital, ‘we need him back.’ 

Felino said the border topped her list of concerns. She said she was ‘absolutely terrified’ and ‘we need to get this under control.’ 

Another attendee named Lisa Stelling, who drove from Westcheester County, New York, described herself as a ‘convert,’ despite having come from a long line of liberals in her family. 

‘It’s just like, something overnight shifted in the culture that I didn’t realize,’ she said. ‘I was taking stuff at face value and the minute the walls came crumbling down, I just started [going] deep into everything.’  

 She argued that there many others like her whom she dubbed the ‘silent majority.’ 

‘The secret to Donald Trump winning this year is that there are a whole bunch of silent majority Trump supporters who hiding in the shadows because of all the nonsense that happened,’ she said. ‘They’re going to come out and they going to vote big time.’ 

This is a developing story. Check back for updates. 

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Former President Trump on Friday praised his 18-year-old son, Barron, as a ‘smart one,’ adding that the former first son likes to give his dad political advice. 

‘He’s seen it, he doesn’t have to hear it,’ the 2024 presumptive Republican nominee told Philadelphia’s Talk Radio 1210 WPHT after the host asked if he had advised Barron on ‘how nasty’ politics can be.

‘He’s a smart one,’ Trump continued. ‘He doesn’t have to hear much, but he’s a great guy. He’s a little on the tall side. I will tell you, he’s a tall one. But he’s a good-looking guy, and he’s really been a great student and he does like politics.’

He added that Barron, who will be able to vote for the first time this year after turning 18 in March, likes to give him political advice. 

‘It’s sort of funny, he’ll tell me sometimes, ‘Dad, this is what you have to do.’ So anyway, he’s a good guy. He’s a senior now in high school, and he’ll be going to college.’

The 18-year-old had been selected as a delegate by the Florida Republican Party to the Republican National Convention, but declined it in a statement through his mother, Melania Trump’s office. 

‘While Barron is honored to have been chosen as a delegate by the Florida Republican Party, he regretfully declines to participate due to prior commitments,’ the statement said.

The Republican National Convention is scheduled from July 15 through July 18 in Milwaukee, Wisconsin. 

His older children Eric, who is delegation chair, along with Donald Jr., his fiancée Kimberly Guilfoyle, Tiffany and her husband, Michael Boulos, will serve as Florida delegates, according to The Hill. 

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In the previous technical note, we had expressed concerns over the Nifty and VIX rising in the same direction simultaneously. As mentioned earlier, in such circumstances, the VIX often ends up acting as a lead indicator and a precursor to an impending corrective move. The previous week had seen VIX spiking up by 33.80%. This week as well, over the past five sessions, the VIX has surged another 26.37% to 18.47. However, the markets, much on the anticipated lines, wore a corrective look and ended the week on a negative note. The trading range also stayed wider as the Nifty oscillated in a 656-point range; it ended with a net weekly loss of 420.65 points (-1.87%).

India Vix has spiked over 76% from the most recent lows in the last two weeks. The markets too have traded on the anticipated lines. At present, the Nifty has closed at the 20-week MA which is currently placed at 22080. On the daily charts, the Index has managed to defend the 100-DMA which is presently at 21992. This makes the 22000-22100 zone the most immediate support zone for the Nifty. Over the coming week, we may see mild technical pullbacks; however, defending the 22000 level would be crucially important as any violation of this support zone would increase the possibility of the Index testing the 50-week MA placed at 20603.

The markets may see a relatively stable start to the week with levels of 22250 and 22400 acting as potential resistance points. The supports come in at 22000 and 21780 levels.

The weekly RSI is at 57.21; it has formed a new 14-period low which is bearish. It also shows a bearish divergence against the price. The weekly MACD is bearish and trades below the signal line. The widening Histogram indicates increased momentum on the downside.

The previous week had seen the formation of a Doji on the candles. This is followed by a large bearish engulfing candle, the body of which engulfs the prior candle’s body. This, in a way, confirms the level of 22775 as an immediate top for the markets unless taken out convincingly.

The pattern analysis shows that the Nifty had created a small rising channel; it has tested the lower edge of that channel which also coincides with the 20-week MA. This level, along with the 100-DMA on the daily charts makes the 22000-22100 zone the immediate support zone for the Index. A violation of this zone will invite incremental weakness for the markets.

Overall, the markets will continue to portray a tentative mood. It may show technical rebounds from current levels; however, these rebounds, if at all they occur, are likely to stay capped to their extent. The markets continue to stay vulnerable to profit-taking bouts at higher levels. It is strongly recommended that one must stay highly selective while making fresh purchases; it is also expected that the markets may turn a bit defensive as well. While keeping leveraged exposures at modest levels and vigilantly protecting profits, a highly cautious approach is advised for the coming week.

Sector Analysis for the coming week

In our look at Relative Rotation Graphs®, we compared various sectors against CNX500 (NIFTY 500 Index), which represents over 95% of the free float market cap of all the stocks listed.

Relative Rotation Graphs (RRG) show that only Nifty Auto, Metal, and Consumption Indices are inside the leading quadrant. They expected to relatively outperform the broader markets.

While the Midcap 100 Index is inside the weakening quadrant, it is seen improving its relative momentum. This may lead to the broader markets bettering their relative strength as well. Besides this, Commodities, Pharma, Energy, Infrastructure, PSU Bank, PSE, and Realty Index are placed inside the weakening quadrant. Isolated stock-specific performance may be seen in these pockets but overall relative performance of these sectors may continue slowing down.

The NIFTY IT and the Media Indices are inside the weakening quadrant. The Media space is seen sharply improving its relative momentum against the broader markets.

The FMCG Index has rolled inside the improving quadrant. This may mean the beginning of a phase of this sector index’s relative performance against the broader markets. Besides this, Nifty Bank, Financial Services, and the Service Sector Index are also inside the improving quadrant.

Important Note: RRG™ charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.  

Milan Vaishnav, CMT, MSTA

Consulting Technical Analyst

www.EquityResearch.asia | www.ChartWizard.ae

Top 5 Stocks in “Go” Trends

Trend Continuation on Rising Momentum

GoNoGo Charts® highlight low-risk opportunities for trend participation with intuitive icons directly in the price action. The resurgence of momentum in the direction of the underlying price trend is an excellent entry opportunity, or the chance to scale up positions.

GoNoGo Icons® illuminate these events on the chart with green solid circles (or red circle to highlight continuation of NoGo trends). When GoNoGo Trend® is painting blue or aqua bars, a green solid circle will appear below price each time GoNoGo Oscillator® finds support at zero.

Below are the top 5 stocks/ETFs in “Go” trends with surging momentum by volume in the S&P 500 as of the daily closing price action:

Scan Results for Go Trend Continuation Icons – Daily

ConAgra Brands, Inc – (CAG)

 GoNoGo Icons signaled a trend continuation on Friday (05/10/24). After setting a higher swing low on Monday, price action was to the upside the remainder of the week reaching strong “Go” conditions Wednesday through Friday on blue bars.GoNoGo Oscillator found support at the zero line, but remained neutral for over a week as  GoNoGo Squeeze® maxed out in the amber grid, before moving to positive momentum on Friday. ConAgra has traded on light relative volume since early April.

Campbell Soup Co. (CPB)

GoNoGo Trend returned to strong blue “Go” conditions to conclude the trading week at prior highs just under $46/share.Countertrend price action from the prior week led to weaker aqua trend conditions through Wednesday.GoNoGo Icons signaled a trend continuation on Friday (05/10/24). GoNoGo Oscillator ended the week in positive territory after finding support at the zero line.

Hormel Foods Corp. (HRL)

GoNoGo Trend ended the trading week on strong blue “Go” conditions.GoNoGo Icons signaled a trend continuation on Friday (05/10/24). GoNoGo Oscillator remained neutral building a small squeeze through the week and rallied back to positive territory again on Friday. Hormel has traded on light relative volume since early March when this recent Go Trend took shape following a sharp gap higher.

Waste Management, Inc. (WM)

GoNoGo Trend returned to strong blue “Go” conditions to conclude the trading week.GoNoGo Icons signaled a trend continuation on Friday (05/10/24). Countertrend price action last week had established a weak “NoGo” trend on pink bars.GoNoGo Oscillator ended the week in positive territory after retesting the zero line on light relative volume.

Cummins Inc (CMI)

GoNoGo Trend returned to “Go” conditions to end this trading week on an aqua bar.This recovery follows deteriorating trend conditions last week on pink and purple NoGo bars.The reversal this week cycled from a weak-form pink “NoGo” bar, through several amber bars, before trend conditions were established on Friday.GoNoGo Oscillator was in negative momentum below the zero line or testing from below since mid-April.Momentum broke out to positive territory on Friday rallying out of a small GoNoGo Squeeze.

About 800,000 customers of the online therapy platform BetterHelp will start receiving refund notices related to a settlement with the Federal Trade Commission, the agency said Thursday.

Last year, BetterHelp agreed to pay $7.8 million to settle FTC charges that it co-opted user data, including personal health questions, for advertising purposes, sharing the sensitive information with social media platforms like Facebook and Snapchat.

The FTC accused BetterHelp of failing to properly obtain consumers’ consent before it did so. BetterHelp did not admit to the charges. It said in a statement this week that was “deeply committed to the privacy of our members and we value the trust people put in us by using our services.”

Eligible refund customers include anyone who paid for services on BetterHelp or its affiliated websites, like MyTherapist, Teen Counseling, Faithful Counseling, Pride Counseling, iCounseling, Regain and Terappeuta, from Aug. 1, 2017, to Dec. 31, 2020.

According to The Associated Press, the refunds will equate to just under $10 per person.

BetterHelp remains a massive sponsor of podcasts. In March, it spent $8.3 million on podcast opportunities — nearly double the next biggest sponsor, Amazon, according to Magellan AI, a podcast analytics group.

The company is now owned by Teladoc Health, an online medical services group whose share price has plunged as the Covid-19 pandemic has waned. In its most recent earnings report, Teladoc Health said its BetterHelp segment was experiencing declining usership and revenue.

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