October Trading Fest

In this issue of BullRush Insiders we discuss NAS100, GER40 and more.

Author

BullRush
October 01, 2024

MARKET NEWS
(aka “Why We Can’t Have Nice Things”)

Welcome to this week's edition of "Index Fever”📈

This week, we’re talking indices—those mysterious market beasts that react to news faster than you can say "FOMC meeting." If you've ever wondered how a single speech or data drop can send an entire index into a tailspin or the moon, then read up! 

Ready to fantasy trade like a pro? Or at least, ready to pretend you’re not sweating through your shirt when the NFP report hits? Let’s get into it!

What to read more this week:

  • PMIs. When the US Purchasing Managers' Index (PMI) ticks up, traders often go long on growth assets—when it drops, they grab their safe-haven blankets like gold!

  • Job Market. The Jobs Report or BLS Employment Situation is released on the first Friday of each month at 8:30AM. If it is favorable, traders interpret it as  bullish and may buy  assets like indices and commodities like oil.

$10K Launch Winners: XAUUSD, GER40 and NAS100

BullRush Trading Competition

This week, XAUUSD (gold) and GER40 (DAX) were the chart-topping dynamic duo in trading competitions, and the top 3 traders in the $10K Launch Competition took solid advantage of it.
It’s easy to see why those assets were on fire! Gold glittered its way to the top as inflation fears cooled slightly, but geopolitical tensions and central bank uncertainty kept traders running back to their safe-haven favorite. 

Meanwhile, GER40 powered ahead with impressive momentum, thanks to a number of robust corporate earnings and improved industrial sentiment in Germany, particularly from heavyweights like Siemens (next earnings report Nov 14th) and Adidas (Oct 29th).

For traders, gold was the perfect hedge against the unknown, while GER40  moved higher with solid upward momentum driven by resilient German manufacturing and better-than-expected economic data.

In other words, whether you were seeking the safety of gold or chasing returns in Europes, this week’s trading stars gave everyone something to cheer about!

Curious about the DAX? Read more on Investopedia

NAS100 (aka “Never A Snooze 100”) 

Last month, NAS100 (Nasdaq-100) moved higher thanks due to a  surging tech sector momentum and renewed investor confidence in AI innovation. 

Companies like Nvidia (earnings released Aug 28th) and Amazon (next earnings Oct 24th) exceeded earnings expectations, propelling the index higher. Additionally, the Federal Reserve's  recent moves made growth stocks, particularly tech-heavy ones in the NAS100, more attractive as lower rates generally encourage risk-taking investments.

The index's strong recovery bolstered by positive economic indicators and resilient consumer demand, added to its appeal. Traders capitalized on this bullish momentum, making the NAS100 a prime asset for short-term gains.
September was index month, but October may bring a healthy dose of reality (and Uptober for the crypto crowd).

OCTOBER TRADING FEST

Wanna try your fundamentals before you go BBB (Broke By Broker), check out the trading competitions starting soon inside BullRush 👇🏻

Crypto-Maniac Weekend

To celebrate ‘Uptober’ we are relaunching this crypto favorite competition. Grab your crypto notes and close the month with a 20K credit prize comp. As usual, it runs from Fri 5pm ET to Sun 5pm.

Profit Quest #1 and Profit Quest #2
Where a low entry fee meets big prizes! With a small group of elite traders and a week of intense action, this $5 entry competition isn’t for the faint of heart. Think you’ve got what it takes? Enter the ring and aim for the $2K prize pool before someone else snags your glory!

Pro Trading Tip of the Week

This week’s trading tip: Read The Freakin’ Paper. To excel at trading, start by focusing on key economic reports. Pay close attention to inflation data, employment figures, and interest rate decisions from central banks. 

For example, a positive jobs report or lower-than-expected inflation can drive optimism, generally pushing growth assets like indices higher.

Next, dive into corporate earnings. Companies set to release reports will see significant movement if their results exceed or fall short of expectations. For NAS100 traders, keep an eye on big tech companies like Apple or Amazon. 

Finally, monitor geopolitical events and commodity prices. For instance, rising oil prices could signal inflationary pressures, potentially influencing monetary policy​.

By blending these insights with market sentiment, you'll be better positioned to make informed fantasy trades.

Trader Hall of Shame

Oh, Rosa6457, what happened? You were flying high in 1st place, but slipped to 3rd in the final hour of the $10K Launch competition… It's like bringing a Formula 1 car to the race but taking too many pit stops. 

Next time, keep those trades flowing if you want that podium finish back!

Typical case of you snooze, you lose…

Funny bits aside, BullRush is 100% committed to fairness and good sportsmanship. We create competitions that reward trading skills instead of sheer luck and that’s why we invented dynamic leverage, we use strict daily and max drawdowns and much more.

and now for more fun:

Trading memes worth an extra minute of your scrolling time…

That’s it for the second edition of BullRush Insider! Hope you like the witty format, and if you don’t, reply back and let us know.

Now, if you are ready to jump back into the action BullRush is calling your name. Your next big win could be one trade away!