👀 A Reflection on How Far the Industry Has Come

Hi guys, it’s Kieran. Another week is upon us and the markets are open, so lets get into it.

📢 Prop Firm Industry News

A rare quiet week across the industry, with not even some petty social media drama to report. In fact, it was so serene that George Kohler, CEO and Founder of Alpha Capital, took a moment to reflect on how far this industry has come, and to salute some of the leaders that have helped us get here.

We have indeed come a long way in a short space of time, and it’s exciting to think where we will be even in one year from now. Nice words and an enjoyable read!

From Payout Junction, here are the firms who paid out the most over the last 7 days 🏆️.

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🕜 Red Folder News

Here are this week’s red folder news events. US PMIs on Tuesday and US GDP on Thursday are the biggest events of the week. The Fed’s preferred gauge on inflation, the PCE Price Index, drops on Friday, however with the Fed seemingly now on a new rate cutting cycle, anything but a huge surprise will likely not change that.

📈 The Macro View

A rate cut and new all-time highs delivered

As was widely expected, the Fed delivered the rate cut that the market (and Trump) wanted. New all-time highs in the S&P 500 followed. Before getting too carried away, a word of caution. On a 20 year lookback, the 3rd week of September typically sees the start of a major pullback, which takes out the summer lows, so keep an open mind. Futures red this morning.

Buyers are back

Not surprising, but now that the cutting cycle has begun, it feels like a logical time to buy stocks. Market sentiment has ticked up from ‘Neutral’ to ‘Greed’. Still a long way to go before we reach extreme levels though.

Biggest week of retail inflows since December last year

As per Goldman Sachs, retail has got the message loud and clear, time to pile back into stocks. Historically, retail buying on masse is a warning sign, however over the last couple of years, retail has been the smart money.

What about institutions?

On Goldman Sach’s Prime book, institutional position is still negative, however we are off the ‘light positioning’ levels from last week. So buying has begun.

What did they buy?

Megacap tech of course. GS Prime book inflows register one of the biggest readings ever into Tech stocks. Institutions have missed the massive rally off the April lows, so could this now be the moment when FOMO finally kicks in? Time will tell..

OK guys that’s everything from me, have a great week!

Kieran

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