Trade The Future

NQ Futures Trader & Investor
Technical & Price Action Trading

[Bull Theory @BullTheoryio]

🚨 EVERYTHING THAT COULD GO WRONG FOR MARKETS WENT WRONG TODAY.

S&P 500 down -1.65%, wiping out $1.14 trillion.
Nasdaq down -2.60%, wiping out $1.11 trillion.
Gold down -3.38%, wiping out $1 trillion.
Silver down -6.9%, wiping out $280 billion.
Bitcoin down -6.31%, wiping out $80 billion.

In total $2.5 TRILLION wiped out in a single session. These were not isolated moves. Everything started breaking at the same time.

It started with the jobs report this morning.

The US economy added 172,000 jobs in May. Wall Street expected 88,000. That is almost double.

On any normal day, strong jobs is good news. But inflation is already at 3.8% and oil is sitting at $90. A labor market this strong tells the Fed it cannot cut interest rates and may actually need to raise them.

The probability of a rate hike this year went from 40% to 57% in a single day. That spooked every investor holding tech and growth stocks because higher rates mean those stocks are worth less today.

Then the AI trade started cracking.

Yesterday Broadcom reported record earnings: revenue up 48%, AI chip sales up 143% and the stock still crashed 12.6%. The reason was simple.

Broadcom did not raise its AI revenue targets for the year. Investors had expected it to. That single miss made people ask a question they had been avoiding for months: are we paying too much for AI stocks?

That question got louder today when a research firm called SemiAnalysis revealed that Nvidia's next-generation AI chips will need significantly less memory than everyone assumed, roughly half of what the market was pricing in.

Memory chips are what companies like SK Hynix and Samsung make. SK Hynix fell nearly 10% today. Samsung fell over 6%.

South Korea's entire stock market crashed 5.5% in a single session. Japan's semiconductor stocks did the same.

And then Anthropic added fuel to the fire by publishing a report warning that AI is getting close to the point where it can improve itself without human help and calling for a global pause in AI development.

Coming on the same day as the memory demand news and Broadcom's miss, it fed a single growing fear across the market: what if the AI boom is moving faster than the business models can keep up with?

Underneath all of this, there is a liquidity problem nobody is talking about.

SpaceX goes public next week at a $1.75 trillion valuation. Anthropic just filed to go public. OpenAI is next.

These three companies together are worth $4 to $5 trillion. Fund managers need cash to buy into these listings.

But cash levels are already at their lowest since early 2024. The only way to raise cash is to sell what they already own. That selling is happening right now.

The new Fed Chair Kevin Warsh will also hold his very first policy meeting in 11 days. He was appointed by Trump with the expectation of cutting rates.

He is now walking into a situation where inflation is high, oil is high, and the job market is running hot. Investors do not know what he will do.

When nobody knows what the most powerful central banker in the world will decide in less than two weeks, the safest move is to reduce risk today.

Everything that could go wrong, went wrong at the same time. A hot jobs report, a collapsing ceasefire, a crack in the AI trade, a trillion dollar liquidity drain, and a Fed meeting with no clear outcome.

[george @StokeyyG2]

NIKE ADVERTS ARE BACK.

This is unbelievable…👏😮‍💨

[The Different Knock 🏆 @DiffKnock]

God I love these boys

[George Noble @gnoble79]

This is the most SHAMELESS structural manipulation of a major index I've ever seen.

SpaceX is preparing what could be the largest IPO in history.

Target valuation: $1.75 trillion.

That would make it the sixth-largest company in America on day one.

And Nasdaq wants the listing so badly they're literally CHANGING how the Nasdaq-100 works.

In February, Nasdaq published a "consultation" proposing sweeping changes to how companies enter the index. The timing is pure coincidence, of course.

Just like it's pure coincidence that SpaceX has reportedly made fast index inclusion a CONDITION of listing on Nasdaq.

Here's what they're proposing:

A new "Fast Entry" rule would let any newly listed company whose market cap ranks in the top 40 of current Nasdaq-100 members get added to the index after just 15 trading days.

No seasoning period. No liquidity requirements. Completely exempt from the standards every other company had to meet.

Currently, new public companies typically wait up to a year before they're eligible for major index inclusion.

That waiting period exists for a reason. It lets the market establish real price discovery. It protects passive investors from being forced into untested, illiquid stocks.

And Nasdaq wants to throw all of that out. For ONE listing.

But the Fast Entry rule isn't even the worst part...

The real scandal is the 5x float multiplier.

Right now, the S&P 500 uses a free-float adjusted methodology. If only 5% of a company's shares are available for public trading, the index weights you at 5% of total market cap.

That's common sense. You weight a company based on what investors can actually buy.

Nasdaq's current methodology already uses total market cap rather than free-float for weighting. But for very low-float stocks, they at least had a 10% minimum float threshold.

Under the new proposal, that threshold DISAPPEARS entirely.

Instead, any stock with less than 20% free float gets weighted at FIVE TIMES its actual float percentage, capped at 100%.

Do the math on SpaceX:

If SpaceX IPOs at $1.75 trillion and floats 5% of its shares, there would be roughly $87.5 billion worth of stock available for public trading.

Under Nasdaq's proposed 5x multiplier, the index would weight SpaceX at 25% of its total market cap. That means passive funds would be forced to buy as if SpaceX were a $437.5 billion company.

But only $87.5 billion of stock actually exists in the market.

You are forcing hundreds of billions in passive buying into a $87.5 billion float.

QQQ alone manages nearly $400 billion. The total Nasdaq-100 ecosystem represents over $1.4 trillion in exposure across ETFs, mutual funds, structured notes, and derivatives.

Every single passive vehicle tracking this index would be REQUIRED to buy SpaceX at whatever price the market dictates.

On Day 15.

With zero price discovery. Zero track record as a public company. And a float so thin you could read through it.

So what this actually does is it creates a structural wealth transfer mechanism.

The passive bid from index funds pushes the stock price higher. That higher price benefits exactly one group of people: the insiders and early investors who own the other 95% of the shares.

And when lock-up periods expire 90 to 180 days later? Those insiders sell into the artificially inflated passive bid. Your 401(k) is the exit liquidity.

This is the fundamental corruption of indexing.

Indexing used to be brilliant. Low cost. Efficient. You were free-riding on the price discovery done by active managers. The index reflected the market.

Now the index IS the market. Trillions of dollars flow blindly into whatever the index tells them to buy. And the people who control the index methodology are changing the rules to serve the interests of a single IPO candidate.

The S&P 500 requires companies to have at least 50% of shares available for public trading. It requires 6 to 12 months of seasoning. It uses free-float adjusted weighting so passive investors aren't buying phantom liquidity.

Nasdaq is doing the exact opposite. 15 days. No float requirement. 5x multiplier on insider-held shares.

Every passive investor in QQQ, QQQM, and every fund benchmarked to the Nasdaq-100 should understand what's about to happen:

The rules are being rewritten to benefit IPO issuers and early-stage insiders, and your capital is the tool being USED to enrich them.

45 years in this business and I've watched Wall Street find creative new ways to separate retail investors from their money in every cycle. But usually they at least try to be subtle about it.

This one they put in a PDF and called it a "consultation."

What's your take?

[kuno @kunoo]

People are now trading the Nasdaq in Minecraft 😂

[Arsenal @Arsenal]

We did it, together.

[Ebere Eze @eberefanpage]

FIRST PREMIER LEAGUE TROPHY IN 22 YEARS 🏆

THANK YOU GOD🙏

[Odegaard @Martin08fanpage]

From dream to reality , we are premier league champions @Arsenal

[Leandro Trossard @LTrossard]

GUNNERS, WE ARE PREMIER LEAGUE CHAMPIONS!! 🏆💭❤️

[𝗗𝗘𝗖 𝗥!𝗖𝗘 @DR41fanpage]

I told you all. It's done 🏆❤️

[𝗚𝗮𝗯𝗿𝗶𝗲𝗹 𝗠𝗮𝗴𝗮𝗹𝗵𝗮𝗲𝘀– 𝗙𝗮𝗻 @GM6Fanpage]

We're finalists 🎶

[𝗗𝗘𝗖 𝗥!𝗖𝗘 @DR41fanpage]

Champions League final baby!!!

[Trade The Future @FXTrad3r]

This was a nice surprise, after logging in - Manual Lockout is here. Yes @TradovateProp 🤩⚡️

Sometimes it helps to physically 'lock out' of the market for the day, even though you may intend it mentally.

Excited for this update and the improvements to come!

#PropTrading

[Trade The Future @FXTrad3r]

@aw_trades_ @TradingLucid 50k ⚡️🤓 lets goo

[AW Trades ♛ @aw_trades_]

Started 5 new 150k Flex accounts with @TradingLucid today :))

First trade of the run:
110pt NQ short using Bloop🤖

Good start lol

So let’s do something fun!!

I’m giving away one of every Flex account size:
- 150k
- 100k
- 50k
- 25k

4 winners total!!

To enter:
1. Follow @aw_trades_
2. Like
3. RT
4. Comment which account you want!!

Winner chosen Sunday night!!

Let’s get some of you funded🤍

Code AW :))

[Trade The Future @FXTrad3r]

Retroactive rule changes are how #propfirms lose traders fast.

Deleting earned profitable days, and invalidating trades after the fact breaks trust — regardless of how attractive the challenge fees are.

For me, that’s a hard NO❌. I won’t be using @FundingTicks again.

[Trade The Future @FXTrad3r]

@TMadeAlex @Topstep Congrats! Great achievement, I'm on the journey to LIVE myself. It's great that @Topstep are giving the opportunity to build more capital before moving you over. Thanks for sharing! ⚡️⚡️

[Trade The Future @FXTrad3r]

Big shoutout to @fnfutures 👏

🔥Close to $10k in payouts taken so far and the process has been fast, smooth, and reliable.
⚡️The 3-day payout policy is a game changer.
👨🏾‍💻Trading via @TradovateProp makes it even better.

Highly recommend 💯📈

#DayTrading #NQ_F #FundedNextFutures

[Trade The Future @FXTrad3r]

Despite the project X issues, managed to bank a solid $7.5k day on @Topstep

3k pre market getting long London open and was out before CPI. Post open took a 🔥long at swing support ahead of the strong momentum move.

#LockedItUp #Topstep #NQFutures #DayTrading #EMini

[Trade The Future @FXTrad3r]

@AskTopstep @MichaelPatak no doubt you feel the frustration but the frequency of this is concerning. Some of us are trying to make a living from our trading, and having to go through this downtime is not only frustrating but takes its toll on mental capital. Make it right and do better!