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.
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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:
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👉 Join here: https://a1trading.com/vip
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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
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
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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
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
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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!
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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!
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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.
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🚀 40% off code: TGVIP
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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
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
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DON'T MISS OUR NEXT TRADES. JOIN US! Black Friday sale live right now.
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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
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
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A1 TRADING | Indices, Commodities, Forex, Futures
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…
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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
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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
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A1 TRADING | Indices, Commodities, Forex, Futures
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…
Gold can't seem to catch a bid...
Breaking support.
- Nick
Breaking support.
- Nick
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📢 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
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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!
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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.
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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
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