👀 The Santa Rally starts this week, A Bitcoin Warning, China & Gold

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

📢 Prop Firm Industry News

Quant Tekel have revamped their rules to be much more forgiving for making small technical errors. Here are some of the many enhancements that came into force last week.

- Soft breach policy returns for funded traders
- First violation: Only profit forfeiture
- Second violation: Hard breach
- Payout dates visible on your dashboard
- Live chat support launches
- Doubled risk team capacity
- New risk management tools
- Faster payout processing

Full details in the tweet below:

As for myself, I got my fourth payout from PipFarm, a firm that I highly recommend.

Follow me on X here > https://x.com/kierangohil_

From Payout Junction, here are the firms who have paid out the most over the last 7 days 🏆️ Tradeify paid out over $1 million over the last 24 hours alone 🤯 

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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. A huge amount of events this week! So if you are trading with firms with news rules, make sure to keep a close eye on the calendar to avoid having profits removed or getting breached. The Fed on Wednesday is the biggest event to look out for but US GDP & the BOJ press conference are big events as well.

📈 The Macro View

Fear and Greed Index - Neutral

It’s curious which such a huge run-up in equities that market sentiment according to the Fear and Greed index is neutral. As we spoke about last week, this is due to the Magnificent 7 stocks which are going to the moon, whilst the rest of the stock market is either declining or staying flat. Buying equities when this index is neutral is a smart move, however if the mag 7 stocks reverse, this will get ugly fast..

The Santa Rally should start this week.

Melt-up in 3, 2, 1.... It is perfectly normal for stocks not to do much the first half of December, before an end of year rally starts, well… this week actually!

Bitcoin melting-up but trade with caution..

Bitcoin continues it’s move higher, but old-skool technicals are flashing a warning. RSI divergence says a reversal is highly likely. Could be a whipsaw, could be a crash… or might just ignore it and continue its march upwards… either way, be cautious and stay risk managed.

China and gold

China matters for the shiny metal. A rare pullback in the Gold price last week. Nothing too crazy, some might say healthy. A reminder that the gold price is tracking China’s gold reserves very closely, and they continue to buy. Also of note is this is their “official” gold reserves, so expect even more buying to be going on out of sight!

OK guys that’s it for this week. Expect volatility, stay risk managed, and enjoy the ride. See ya next week!

Kieran

Follow me on X here > https://x.com/kierangohil_

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