CPI came in line with expectations today at 2.6% which is slightly higher than last month's number. I think a consequence of better earnings, economic growth and jobs growth, there will likely be higher inflation. This problem will likely not be a major factor going into year end, but the inflationary fears could creep back into the Fed's view which was so adamant about saving the jobs market. Further interest rate cuts are not going to help inflation either.
With a republican presidential win, the US is likely to drill and produce domestically which will probably drive oil prices down further on an increase in supply. So if oil prices remain lower, inflation may slowly rise or stay put which is what investors want. CPI over 3% will reintroduce the rate hike idea, so we need to be cautious of that. Without the Fed fears, the market has the green light to run higher in 2025
- Frank
📢 TraderFest 2024 – Hosted by Eightcap 📢
Join Nick and top trading experts for TraderFest 2024! This FREE live-stream event will dive into 2025 forecasts on the US Dollar, Oil, Stocks, Crypto, and Gold markets. Don’t miss out on valuable insights to help you trade with confidence! 📈
🗓 Nov 16, 2024 | 12 - 4 PM UTC
🇺🇲 US Registration: https://us.thetraderfest.com
🌐 Non-US Registration: https://bit.ly/nick_tf24
Seats are limited—register now!
Gold
Gold drops to a key support level on the 1D timeframe around $2,600. This spot is the second key level after breaking under the trend line. Gold’s score is now a -3 on the EF to suggest it is no longer a bullish trade. Today’s CPI data came in as expected which is pretty much in line with the Fed’s stance and projections. It would not be surprising to see price break under this level of support with this news.
- Frank
Data From The EdgeFinder!
🚀 40% off code: TGVIP
👉 Get the EdgeFinder
DON'T MISS OUR NEXT TRADES. JOIN US! Black Friday sale live right now.
Use code TGVIP here for 40% off: https://a1trading.com/vip/
DXY Daily Chart:
The dollar continues to look strong amongst its peers. With decently strong economic data, and expectations for a potential uptick in inflation, the fed may slow their pace of rate cuts.
I maintain a bullish outlook for the time being.
- Nick
Crypto Could Be the Trade of 2025
Bitcoin hit another very important milestone after surpassing the all time highs from 2021. Analysts might be thinking that the crypto market is overvalued now, but I think there is a lot more room to run. On the technical side, price could come up to test the $90,000 range, but the psychological price of $100K seems likely.
My reasons for being bullish on crypto comes from the very obvious risk-on sentiment in the market. What kept price at bay for so long was the fear of wars continuing to place pressure on market bulls while gold was able to thrive. If money continues to flush out of metals and into more risk assets, bitcoin will likely outperform the S&P and NASDAQ as it acts like a leveraged version of the stock market. Today, SPX is down after open, but bitcoin is up 3% today, Ethereum is up 1%.
Data From The EdgeFinder!
🚀 40% off code: TGVIP
👉 Get the EdgeFinder
Tomorrow Chris Pulver & I will be conducting a free to attend webinar, discussing our Top Trading Setups for 2025.
This is going to be one of the most important events of the year - as we prep for some very big stories developing next year.
Here's a teaser list:
- What does a return of Donald Trump in the White House mean for markets?
- Is the fed going to pause rate cuts? What would that do?
- Is the AI trade a bubble, or just getting started?
- Is the USD going to continue its rally?
JOIN US:
Tuesday, Novermber 12th, 10:00 AM US EST.
The recording will also be shared to those who register.
REGISTER FOR FREE NOW HERE:
https://form.jotform.com/242265441549055
- Nick
Nick's S&P500 Trade Breakdown
August - September 2024
🟢 Entry Price: 5237.13
🔴 Exit Price: 5506.00
Trade Result: $25,882.39 (5.23%)
Technical Analysis:
Key level of support, strong upward trend on the weekly chart, rejection wick forming at structure. Stop loss placed below initially, but Nick was able to trail his stop loss into profit until eventually being taken out for a profit.
Fundamental Analysis:
A strong reported services PMI report indicates strength in the economy, while the fed still seems poised to cut this year. Additionally, corporate earnings remain strong and I believe that the AI tech trade still has legs this year. Additionally, COT data shows institutional money is still buying the S&P500.
🏆 Trade shared with VIP members! Get access to trades like this:
Use code TGVIP for 40% off VIP signals
👉 Join here: https://a1trading.com/vip
Retail suggests that they might start shorting the markets here at the highs. All the indices seem to have fallen in bullish positioning as all are neutral and RUSSELL is the least long asset in the long assets. The crowd is still buying gold and oil.
- Frank
Data From The EdgeFinder!
🚀 40% off code: TGVIP
👉 Get the EdgeFinder
"As a new trader with a small account, A1 Trading helped me change my perspective on trading. I no longer blow my demo or live accounts and I am able to make consistent small profits now... "
🥹 Thank you Bea & Congrats on your trading success!
I had my biggest trades of the year this week.
If you aren't in the VIP room already, now is the time to join!
Use code TGVIP for 40% Off!
JOIN NOW
Don't forget to register for the webinar to get insights on Nick & Chris' trading strategies going into 2025! 🚀
HOW TO REGISTER:
👉 Fill out this form to register for our free webinar!
🚀 SAVE $560 on the EdgeFinder with code TGVIP
Access the EdgeFinder at our biggest discount of the year! Level up your trading strategy with advanced insights and data-driven tools that give you a clearer view of the markets.
EdgeFinder Pro Features:
⭐️ Top Setups
⭐️ COT Data Scanner
⭐️ Smart Money Indicator
⭐️ Forex Scanner
⭐️ Indices Scanner
⭐️ Gold / Metals Scanner
⭐️ Retail Sentiment Data
⭐️ Seasonality
⭐️ Market Heatmap
⭐️ Price Forecasts
⭐️ Risk on/Risk off Indicator
& more!
🔴 40% off Code: TGVIP (Save $560!)
Get access now: https://a1trading.com/edgefinder/
NASDAQ
The tech market is struggling at these new historic highs on the 1D timeframe. There is a chance price could retest the $20,700s level in which the index has previously broken. The put/call ratio is now the lowest it’s been in a month at 0.79 meaning there is more bullish leaning sentiment. We should keep in mind that we are also coming off an extreme fear reading from the gauge. Although a retracement could happen, it would seem like another buying opportunity based on this uptrend.
Data From The EdgeFinder!
🚀 40% off code: TGVIP
👉 Get the EdgeFinder
Update on the BTCUSD trade... (I have a position on $IBIT)
Today I'm trailing my stop behind Tuesday's swing low, where we found fresh buying strength. Securing a bit more profit in case we see a sharp reversal + break of structure.
Fundamentals look intact, with the Trump administration seemingly favorable towards crypto. Additionally, we're seeing a continued bull run in risk assets due to interest rates coming down, labor data holding up decent, and inflation less threatening than it has been in recent years.
Trailing stops to stay disciplined & avoid greed!
- Nick
Bitcoin 🚀 to the🌛
Locking in more profit on my position. What a meteoric move. This quickly became one of the biggest floating winners I've had all year...
Trailing my stop behind support + behind 61.8% retracement. The move is so violent, I am going to adjust stops slightly to secure a bit more profit should we see a sharp reversal.
- Nick
The indices are now back at the top most bought assets on the list of smart money positions. Surprisingly, oil is up 4.55% from last week's institutional ownership. The dollar and yen are getting sold with metals including gold by a slight margin. We have yet to see more participation on bitcoin, but it seems like the trend will start moving up as the coin hits new all time highs.
Data From The EdgeFinder!
🚀 40% off code: TGVIP
👉 Get the EdgeFinder
Gold prices fell another 2% this morning due to the heavy risk-on sentiment circulating the US markets and economy. Fears of geopolitical issues have dwindled, and the Fed remains dovish. The only factor that could influence price action now is CPI.
If inflation comes in higher than expected, it may boost gold's price on the support level of $2,600. Any kind of news to change from risk-on is a good sign for the metal. Gold was the trade of the year until this month. There is a new contender now.
- Frank
Want to see an example of a trade we shared this year in the A1 Trading Community? 😏👀
Читать полностью…The crowd seems to be getting more attracted to the metal after its initial drop from the highs. Meanwhile, COT history suggests that smart money is getting out. You can see that after COT was reduced in late October, price peaked the next week and is now on a decline.
- Frank
Data From The EdgeFinder!
🚀 40% off code: TGVIP
👉 Get the EdgeFinder
Is this a Legitimate Warning Sign?
US treasury notes are now leaning bullish as the EF scores dip into positive territory. Meanwhile, the treasury yields flew higher. Notes and yields have a negative correlation. As yields go higher, the price of the note decreases, and vice-versa.
Higher yields suggest the Fed won't be cutting as aggressively due to an anticipated period of growth. Wherever yields are heading will directly affect gold, so it's important to hear what the Fed plans to do with interest rates going forward. If they sound like 25-50 bps are too much to cut each meeting, it may cause yields to go higher/gold to go down.
- Frank
Data From The EdgeFinder!
🚀 40% off code: TGVIP
👉 Get the EdgeFinder
What seemed like an unstoppable force ended up giving back weeks of gains in only a short amount of time. Yesterday was the worst day for gold in the past several months. What seems to be the cause behind the drop were clued by higher bond yields. The actual rate decision will not affect gold in the longer run, rather the Fed statement will.
It seemed that Powell was clear about cutting rates to help the jobs market - at the expense of higher inflation. If we do anticipate a period of growth, there may not be any reason to cut rates further. Spending, circulation and more jobs may bring back the inflation issue. And this could prevent the Fed from cutting rates, thus less bullish for gold.
- Frank
🗳️ Election Results Are In! 🗳️
Nick dropped a new video breaking down the election results and what they mean for traders like you. 📈
Curious how these changes could impact your trading strategy? He’s got you covered with insights and key takeaways!
Catch the full breakdown here: https://www.youtube.com/watch?v=ANTtE9PcSXA
P.S. Want to take advantage of the market opportunities? Open an account with our sponsor, Vantage Markets, and start trading smarter here!
Similarly to the markets rising before the Trump victory, yields may be pricing in a less dovish tone from the Fed tomorrow. Expectations are still near 100% that the Fed will cut by some amount, but maybe bonds are telling us not to expect too much easing from the Fed. Especially since inflation has not moved comfortably where analysts expected by now, we might not have the green light on consecutive interest rate cuts in 2025.
Judging by the stock market's reaction, we could be looking at a period of substantial growth. However, this type of environment often leads to more spending, higher circulation of the dollar, thus higher inflation. Entering into a period of higher growth at the cost of higher inflation is not a bad thing, but it may mean that the Fed doesn't need to cut. If there's nothing to save (jobs, GDP, consumer spending...), then there might not be a reason to ease on policy much more.
- Frank
Gold finally breaks lower after several months of upside. Major risk on sentiment has returned to the markets which alleviated all the pressure from geopolitical tensions, direction of the economy, and major uncertainty now that we have an outcome in the election. Tomorrow’s interest rate report is set to come out with a cut. Lower rates may be bullish for the metal as it suggests a weaker dollar. Yields are rising too which is likely putting pressure on gold. If price can’t hold up at support, it may look to test lower around $2,600.
- Frank
Data From The EdgeFinder!
🚀 40% off code: TGVIP
👉 Get the EdgeFinder