👀 Huge Selling, Biggest outflows from Crypto on record

Hi guys, it’s Kieran! Another week in the markets is upon us, so let’s get into it.

📢 Prop Firm Industry News

Kind of a quiet week for the major firms last week.

At Payout Junction, we crunched the payout numbers for August and published our Monthly growth report. You can see month on month payout growth for all the major firms in our post below:

Overall industry payout volume remained remarkable flat again! up 0.9% month over month.

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🕜 Economic calendar

Here are this week’s red folder news events. A quiet start to the week is followed by US inflation on Wednesday and PPI + Unemployment Claims on Thursday.

📈 The Macro View

Selling.

Pretty much sums up last week. Everything was sold. Stocks, Commodities, Crypto.

Overall US equities were net sold for a 4th straight week. Hedge Funds have now net sold US equities in 12 of the past 13 weeks.

Positioning back to neutral.

Goldman Sachs positioning indicator has rapidly moved from ‘Stretched’ to a ‘Neutral’ reading. This is not a buy signal (we must wait for ‘Light Positioning’ for that) however, large scale liquidations have happened. Let’s see if more longs are flushed out this week.

After September comes the best month of the year.

Last week we looked at September seasonality for the S&P 500, and it’s playing out just as expected. However, keep in mind that October has historically been the best month of the year. It is the month where the most 10%+ rallies have begun.

Of the 61 rallies of 10%+ since WW2, nearly a third (19) have started during the month of October. A few more weeks of pain to flush everyone out?

No love for crypto right now.

Biggest outflows from crypto on record. BTC is -25% off it’s highs.

"Be greedy when others are fearful, and be fearful when others are greedy” - Warren Buffet 😁 

That’s it for this week. Have a good one and stay safe out there!

Kieran

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