Newsletter - October 2021
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NEW Trading Platform Release - Sigma360 Trader
Feature-Rich Charting & Trading Software, including Order Flow Analysis Tools

Charting / Indicator Package:
Platform includes analysis components like trend lines & fibonacci, and more, as well as 19 chart bar types to choose from. There are also 290+ built-in studies / indicators included. 
Depth of Market (DOM) Ladder:
The trading DOM includes custom order size hot-keys, profit/loss column & center DOMs on last price. Full depth of market is visible beyond 10 levels & you can see your actual position in queue (only available with Rithmic datafeed).

Versatility Built-in:
Compatible with Mac, Windows & Linux. 

Order Flow Analysis Tools:
Customizable Order Flow tools enable you to analyze trading activity using order flow, volume, and depth of market.
Volume Profile & VWAP
Footprint Chart aka
Volume Imprint*
HeatMap*
System of the Month: Forest Mini Russell ma1 Continuos 
Many traders choose to diversify their portfolios with algorithmic trading systems. The following system has been selected as the broker's choice for this month.
REQUIRED CAPITAL: $8,900*
PRODUCT: Mini-Russell CME future 
SYSTEM TYPE: Swing
COST: $55 / month
COMMISSION: $7.50 per side 
The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on backadjusted data.   
Upcoming Government Reports & Holidays
Oct 01
Oct 04
Oct 05
Oct 08
Oct 08
Oct 11
Oct 12
Oct 13
Oct 14
Oct 14
Oct 15
Oct 15
Oct 19
Oct 26
Oct 26
Oct 27
Oct 27
CONSTRUCTION SPENDING REPORT
MANUFACTURERS' SHIPMENTS, INVENTORIES & ORDERS - FULL REPORT
US INTERNATIONAL TRADE IN GOODS & SERVICES REPORT
EMPLOYMENT SITUATION REPORT
MONTHLY WHOLESALE TRADE: SALES & INVENTORIES
COLUMBUS DAY
JOB OPENINGS & LABOR TURNOVER SURVEY
CONSUMER PRICE INDEX REPORT
PRODUCER PRICE INDEX REPORT
BUSINESS FORMATION STATISTICS
ADVANCE MONTHLY SALES FOR RETAIL & FOOD SERVICES REPORT
MANUFACTURING AND TRADE: INVENTORIES & SALES REPORT
NEW RESIDENTIAL CONSTRUCTION REPORT
NEW RESIDENTIAL SALES REPORT
PRELIMINARY US IMPORTS FOR CONSUMPTION OF STEEL PRODUCTS
ADVANCE REPORT ON DURABLE GOODS - MANUFACTURERS' SHIPMENTS...
ADVANCE ECONOMIC INDICATORS REPORT
Key Events That Moved the Market in Sept. 2021
The following is a review of US and world events from the last month. Please be advised that this content is based upon the opinions and research of GFF Brokers and its staff and should not be treated as trade recommendations.

S&P 500 Index (SPX) - Daily Chart - Sep 1 - 30, 2021 (Source: Tradingview)

September 1
  • The market tepidly moved lower to start what’s seasonally the worst month of the year for the broader US stock market.
  • The S&P 500 closed down a mere 0.03%, the Dow fell 48 points, and bucking the trend, the Nasdaq hit a new record high though it pulled back to close below it, but still in the green, up 0.17%.
  • Mixed data might have played a role in this tempered start to a new month as August manufacturing data came in strong while factory unemployment plunged to a nine month low as workers remain in short supply.

September 2
  • The S&P 500 clawed its way toward a new record high, hitting 4,545 for the first time in history. It later closed below it, up a modest 0.27%. The Dow followed suit, rising over 131 points, while the tech-heavy Nasdaq bucked the trend again, this time closing in negative territory by 0.05%.
  • Markets were boosted by jobless claims which, at 340,000 new claims, is the lowest level since the start of the pandemic; a promising sign for tomorrow’s jobs report, which traders eagerly await.

September 3
  • All three indices hovered near that flat line as investors digest the latest jobs data. 
  • The US added only 235,000 jobs in August when economists were expecting 720,000.
  • Leisure and hospitality employment fell sharply; both sub-sectors leading the jobs market over the last year.
  • The disappointing jobs data likely reflects current concerns over the Delta variant.

September 6
  • Labor Day - markets closed.

September 7
  • Stocks kicked off the shortened trading week with losses. 
  • The Dow fell 269 points; the S&P 500 declined 0.34%; the Nasdaq bucked the trend, notching a record high.
  • Tech took the lead today, launching the Nasdaq, but economically sensitive areas of the market fell to the wayside as investors grappled with fears over the Delta variant.

September 8
  • All three indices are hovering just a stone’s throw away from their record highs, but the Dow and S&P 500 closed down for the third straight day; the Nasdaq finally giving up the green to close in the red.
  • Around 10.9 million jobs opened in the US, slightly above expectations of 10 million.
  • Morgan Stanley announced that the next two months carry outsized risks to growth, pointing to monetary and legislative policies as potential trigger points; especially considering that fiscal stimulus may be set to end soon.

September 9
  • Markets saw another choppy session with the Dow falling for a fourth straight day, down 150 points. The Nasdaq also slipped modestly for a second straight day.
  • Initial jobless claims came in lower than expected, down 310,000 versus expectations of 345,000.

September 10
  • It was another down day on Wall Street; the Dow and S&P posting their fifth straight day of losses.
  • The two main issues weighing on the market: how much the Delta variant was slowing the economic recovery, and how much wage and commodity costs are impacting earnings.
  • Core PPI for August came in higher than expected--up 0.6%, higher than the figure of 0.5% analysts were anticipating.

September 13
  • Today ended in a mixed close, with the Dow and S&P rallying to snap a five-day losing streak, while the Nasdaq ended fractionally lower.
  • September is already living up to its seasonal reputation as the worst month of the year as all three indices are down for the month.
  • There was no major economic data released today. 

September 14
  • The August Core CPI revealed a tamer read on inflation than expected, coming in at 4.0% year over year, slightly lower than the 4.2% that economists had expected.
  • Despite this, however, markets were down, with the Dow losing 292 points, and the S&P and Nasdaq falling 0.57% and 0.33% respectively. 

September 15
  • The broader market found its footing after a down Tuesday with economically sensitive sectors doing well and defensive sectors lagging behind.
  • Energy was the best performer with crude oil futures (CL) getting a big boost from inventory drawdowns and on sentiment that wider vaccination rollouts will see an increase in oil demand.

September 16
  • Stocks started on a weaker note but quickly erased most of their losses.
  • August core retail sales are up, coming in high at 1.8% month over month while September Philly Fed manufacturing data far topped analyst expectations of 18.8, coming in instead at 30.7.
  • Jobless claims nearly matched consensus as 332,000 new filings were made last week.
  • Investors are keeping their eye on seasonal weakness amid Delta’s potential impact on earnings growth.

September 17
  • The market remained under pressure through the end of a choppy week on Wall Street as September lives up to its reputation for tougher market conditions.
  • The market awaits Fed commentary in the coming week as hints of potential bond purchase tapering are being telegraphed by individual Fed governors leading up to the central bank’s big FOMC announcement.

September 20
  • If seasonality indicated a possible September Swoon, well, here it is today.
  • The Dow plunged over 900 points but ended the day down only 614 points. All three averages fell about 2% for the day.
  • Note that the S&P had gone all year without a 5% pullback, which is very unusual. 
  • Behind today’s weakness is a combination of factors: seasonality issues, debt ceiling drama in Washington, Fed tapering expectations, Delta variant fears, and most importantly, China fears, as investors are trying to figure out the global impact of Evergrande’s potential $305 billion debt default. 

September 21
  • Stocks tried to make a comeback today but ended the day fractionally mixed.
  • The Dow ended the day in the negative by only 50 points, and both the S&P and the Nasdaq finished in the red.
  • A bit of positive news, August housing starts topped expectations, coming in at 1.61 million versus 1.55 million expected. This showed month over month growth of 3.9%, far better than last month’s -6.2%.

September 22
  • We saw a solid bounce in the stock market today, the Dow rebounding from a four-day slide.
  • The Fed’s decision to keep interest rates steady helped buoy the markets in addition to giving some relief from uncertainty.
  • Fed chair Jay Powell re-affirmed that tapering is indeed in the cards and it might happen as soon as the November meeting, and that all growth and employment measures have fulfilled the justification to begin tapering Fed bond purchases slowly.

September 23
  • All three indices continue to surge, the Dow rising as much as 621 points before ending the day up 506.
  • Today’s rally, which puts all three averages in the green for the week, was fueled by a confluence of factors.
  • Investors are cheering on Jap Powell’s performance in reminding markets that the tapering of bonds is not the same thing as raising interest rates, and the latter will likely not happen until well into 2022.

September 24
  • A strange week on Wall Street, the market is beginning to send signals that leave bulls and bears both confused about what’s going on. 
  • The Dow, however, was able to snap a three-week losing streak. 
  • But it did move 1,300 points from low to high only to end unchanged from last Friday.
  • August new home sales came in at 740,000, topping 729,000 expectations.
  • The big news elsewhere is that crypto got crushed when China essentially placed a ban on crypto services; Bitcoin tumbled 5% to trade near the 42,000 range.
  • Investors appear to be taking a “glass half full” approach, finding optimism in the economic recovery narrative, yet there’s still a lot of uncertainty regarding matters of booster shots, the Delta variant, and the debt ceiling issue.

September 27
  • Markets are mixed as the Dow ends the day fractionally higher while the S&P and Nasdaq are slightly in the red.
  • Durable goods in August came in at 1.8% month over month, topping expectations of 0.7%, but core goods missed expectations, coming in at 0.2% against a forecast of 0.5%.

September 28
  • It was an ugly day on Wall Street with the Dow plunging 615 off the low before ending just off those levels. 
  • Investors were focused on the 10-year Treasury yield, which skyrocketed above 1.5%, a level it hasn’t seen since June.
  • Money rotated out of tech and high growth stocks and into value oriented stocks.
  • The big issue is that the broad market S&P is also very tech-heavy (around 40%); not as heavy as the Nasdaq, but heavy nevertheless.
  • Plus, the political issues in Washington are not helping investors find a relief from uncertainty in the markets.

September 29
  • A relatively mild down day on Wall Street, the Dow and S&P were virtually unchanged despite the volatile trading, though the Nasdaq fell a bit harder, down a mere 0.12%.
  • Without much happening on the economic front, August pending sales provided the biggest surprise, up 8.1% when only 1.4% was expected.

September 30
  • All three indices are in the red with the Dow tumbling more than 300 points, living up to seasonal expectations of September being the worst trading month of the year.
  • Uncertainties surrounding China’s real estate crisis, rising inflation, and a surge in 10-year yields take center focus amid a backdrop of debt ceiling debates, Fed tapering expectations, and Delta variant fears.
  • Today’s jobless claims came in at 362,000, slightly more than expected; traders see this as a strong indication that pandemic woes may not be over quite yet.
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*This feature is only available with the Sigma360 Trader Order Flow Edition.

*Details regarding Forest Mini Russell ma1 Continuos: Please be aware that the suggested capital to trade this system is $55,000. Please speak to your broker for more information about this trading system. The returns for the systems listed are hypothetical in that they represent returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on backadjusted data.
 
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
 
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

There is a substantial risk of loss in trading futures, options and forex. Past performance is not necessarily indicative of future results. Margins are subject to change at anytime without notice. All material herein was compiled from sources considered reliable. However, there is no expressed or implied warranty as to the accuracy or completeness of this material.