👀 Apex Denies Breach as Global Cloud Outage Sparks Chaos

Hi guys, it’s Kieran! Another week is upon us, and lots going on, so lets get straight into it:

📢 Prop Firm Industry News

Apex have now commented on the industry data breach, and have stated that they have not been compromised. They say that “there have been some isolated cases of unauthorised access to some accounts where login credentials were likely obtained through unrelated third party breaches”, however “Apex has not suffered a data breach or system compromise”

They also provide a link to check if your email address has been captured: https://preview.haveibeenpwned.com/

So we are still no closer to finding the source of the breach, and likely won’t at this point. Hopefully we do not see any further escalation, and as mentioned last week, it’s wise to change your login credentials at all prop firms.

Also last week, a global outage affecting cloud providers and online services caused major disruption for firms and platform providers.

Tradeify commented on the outages:

Tradovate suffering from the issues.

Many firms are now rectifying the account losses caused by the outage. Nicely handled Tradeify, MMFU & FundedNext Futures 👍️ 

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

🔥 Monitor prop firm payouts LIVE on Payout Junction - https://payoutjunction.com.

🕜 Red Folder News

Here are this week’s red folder news events. Quite a busy week on the economic calendar. The key event of the week is Wednesday’s FOMC meeting where the Fed will make their latest interest rate decision. Despite constant pressure from Trump (for a full point cut!) the CME Group's FedWatch tool shows almost no probability of a rate cut this week. 

Headline risk is also high due to events in the Middle East.

📈 The Macro View

Fear and Greed - No major change this past month

We are still stuck in Greed territory as the S&P500 eyes new all time highs, but can’t sustain the momentum to take them out for now.

Double Top?

It’s been a massive V-shaped recovery, typical of the equity markets this past decade. Lots of money waiting on the sidelines (Hedge Funds) so expect any dips to be bought heavily.

S&P500 Seasonality

On a 20 year lookback, the next two weeks typically see a sell off, followed by a July melt up.

Iran’s Oil goes mainly to China

Great chart from Goldman showing that Irans oil exports are currently around 2 million barrels per day, of which the majority goes to China. If this war escalates, China will likely not sit quietly and watch. Something to keep an eye on this week.

Ok guys that’s it for this week, stay safe out there!

Kieran

📚 Further Reading

What’s the safest way to hit 10% profit target in a prop firm challenge without violating the rules? This week’s question to PerplexityAI includes:

• Conservative Risk Management

• Daily Profit Targets

• Rule Compliance Strategies

• Optimal Trading Conditions

Click the link below!

Please do me a favour and share this with other traders, your communities and on social media. I’d greatly appreciate it, thanks! 🙂