👀 'My Forex Funds' Wins Fraud Case against CTFC

Hi guys, it’s Kieran! Another week in the books and its time to it all over again, so lets get into it.

📢 Prop Firm Industry News

One of the original forex prop firm giants, My Forex Funds has now seemingly won it’s fraud case against the CFTC as per the judgement:

“For the reasons set forth above, the undersigned respectfully recommends that the court grant the defendants motion for sanctions and that the complaint be dismissed with prejudice. Furthermore, the special master recommends that the defendants be awarded reasonable attorneys fees and costs associated with the prosecution of the motion for sanctions”

There seems to be big changes underway at the CFTC, with the new administration scrutinising the actions of the previous. As mentioned last week, the new US administration has placed four attorneys and one investigator on administrative leave amid allegations that they “engaged in numerous instances of wilful and bad faith misconduct, including making false statements to the court.”

A few hours after the ruling, this came across my feed.

With this saga seemingly drawing to a close, it will be interesting to see how the next steps play out. I do not believe that MyForexFunds have made a statement yet, but they inevitably will, and it will be interesting to see if they hint at reopening. A fascinating story that I will be keeping a very close eye on.

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. US and European PMIs are notable this week, as well as UK CPI (inflation). The Trump/Putin call today could generate some major headlines.

📈 The Macro View

Almost there..

From Extreme Fear to Extreme Greed (almost) in a month.

Institutions still watching from the sidelines

The story of this +20% bounce in the S&P500 is that it is almost entirely retail driven. Institutions have sat on the sidelines and watched. Positioning on Goldman Sachs Prime book remains ‘light’. Now we’ll see if FOMO kicks in for this cohort should we continue to move higher.

May to June is ‘chop season’ for equity markets

One to keep in mind. On a 20 year lookback, the period beginning May until the end of June, S&P500 returns are historically more or less flat.

This has been a historically fast rally

Such a rapid rate of change in fact that we have just been through the biggest 6-week increase since 2020. It is prudent to expect the rate of change to drop a bit from here. S&P500 futures are currently red, so lets see if this develops into something more substantial this week.

OK guys lets get after it. Stay safe out there and i’ll see you next week!

Kieran

📚 Further reading

Still want more? Here’s a quick 3 minute read that I created on Perplexity about the Potential Impact on Equity Markets of Trump's "One Big Beautiful Bill". This is great for strategizing potential trade ideas. I will include one of these each week if you find them useful, so reply and let me know if you do. Enjoy!