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- 👀 Another Firm Closing down, On watch for the Santa-rally, Sentiment is changing
👀 Another Firm Closing down, On watch for the Santa-rally, Sentiment is changing
Lets get ourselves prepared for the week ahead!
Kieran Gohil
December 02, 2024
Hi guys, it’s Kieran! Another week in the markets is upon us, so lets get ourselves prepared!
📢 Prop Firm Industry News
Another one bites the dust. Smart Prop Trader is closing down. They have been around for a number of years, but firms who do not innovate have no chance of survival anymore, so this one is not a surprise. Hopefully everyone affected will get refunded 🤞
Important Announcement from Smart Prop Trader
As of November 27, 2024, Smart Prop Trader will no longer onboard new traders. We want to express our deepest gratitude for your trust, dedication, and support for this amazing trading community!
Unlike a typical prop firm closure,… x.com/i/web/status/1…— Smart Prop Trader (@SmartPropTrader)
12:02 AM • Nov 28, 2024
From Payout Junction, here are the firms who have paid out the most over the last 7 days 🏆️
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Monitor prop firm payouts LIVE on Payout Junction -https://payoutjunction.com.
🕜 Economic calendar
Here are this week’s red folder news events. Lots of jobs numbers to look out for throughout the week, plus Fed Chair Powell is speaking on Wednesday. The Fed has an interest rate decision to make in a couple of weeks and this data will be pivotal, so stay on your toes.
📈 The Macro View
On-watch for the Santa rally
As is customary each year, the S&P500 tends to rise unabated through the end of the year. End of year window-dressing coupled with low liquidity provides conditions for a slow grind higher.
Sentiment changing
The Bull/Bear index is showing an increase in bearish sentiment. Nothing extreme yet but the feeling around the equity market is less “buy at any price” than it did a couple of weeks ago.
Retail selling single name stocks
Retail seems to be the ones selling. Last week, Retail market participants sold $1.4bn of single stocks. These are record outflows, and a full reversal of the “trump trade”.
Crypto mania
Largest 8-week inflow to crypto funds on record. The Flows are backing up the price increase. The question going forward will be, what happens to crypto prices when the inflows stop?... 🤔
US vs European Equities is getting ridiculous
Since 1950 the ratio of performance of US equites vs European equities had been mean revering, until it broke out and never looked back. The Long S&P500 + Short EUROSTOXX 50 trade has been profitable for 15 years now. Sometimes it really is that simple 😁
OK guys that’s it for this week. Expect volatility, stay risk managed, and enjoy the ride. See ya next week!
Kieran
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