👀 Topstep downtime strikes again

Hi guys, it’s Kieran! Another week is upon us and the markets are open, so lets get into it.

📢 Prop Firm Industry News

After last weeks outage, Topstep traders were hoping for an uninterrupted trading week however that wasn’t to be the case, as an outage ceased trading for the second week running.

Once again, it was due to issues with their trading platform TopstepX, aka PlatformX

Topstep recently discontinued all other platforms and now rely just on PlatformX, a platform which they own. Not a good situation when that single platform is not stable.

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

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🕜 Red Folder News

Here are this week’s red folder news events. US inflation on the docket this week (CPI Tuesday, PPI Thursday) which has the potential to be highly market moving due to the recent re-pricing of interest rate cuts. Hot inflation numbers could put rate cuts into question, and flip the whole Fed narrative, so watch these numbers closely.

📈 The Macro View

Market Sentiment from Neutral back to Greed

Last week we recovered almost all of the previous week’s S&P500 drop as dip buyers arrived right on cue. A very strong close on Friday and futures flat this morning, keeping sentiment positive.

Institutions did not buy the dip again.

As has been the case all year, it was retail who stepped up to buy the dip. Institutions stayed watching from the sidelines. Positioning on Goldman Sach’s Prime book remains stuck at neutral. A flat zero. Still no interest from institutions in buying this rally.

An incredible quarter for earnings.

With just 8% of the S&P500 left to report, the beat rate sits at a monster 82%. That’s the highest in 4 years and one of the highest looking back over the last 10 years.

Its been a massive rally since liberation day and it feels like the market should be putting in a short term top, however with earnings strong and sentiment positive, it will likely take something unexpected to turn this ship around.

OK guys that’s everything from me, so have a great week!

Kieran

📚 Further Reading

Can using a Negative Risk to Reward trading strategy be a viable way to make payouts with prop firms? This week’s question to PerplexityAI includes:

• High-Probability Scalping Requirements

• Mean Reversion Strategy Example

• Prop Firm Benefits

• Critical Risk Warnings

Click the link below!

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