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Stocks push higher while inflation stays sticky and September shapes up as a pivotal month for markets.

The “Flat” voters are on a two-week streak with the S&P 500 (via SPY) finishing up 0.4% from last week. A new high of $649.48 was set on Thursday, but Friday couldn’t hold the momentum as traders took risk off the table heading into the long weekend. Friday’s PCE report confirmed inflation remains sticky, while other economic data is pointing toward slowing growth. September is shaping up to be a pivotal month. At this point, a 25-basis-point cut in the Fed Funds Rate looks almost certain for the September 17 meeting. But a rate cut in the face of sticky/rising inflation? Something has to give.

Other key market moves last week:

Not an exhaustive list — just a few I’m watching closely for potential market impact.

A clean technical move may signal momentum toward new highs and a case for precious metals exposure.

Since April, gold (via gold futures GC) has been consolidating in a narrowing range between ~$3,200 and $3,500. Last Friday, it broke out of that flag pattern to the upside with a strong $40 move. While still below its all-time high of ~$3,585, the renewed momentum could put that level in the rearview mirror.

One read-through is that this breakout coincided with ongoing inflation pressures. It may be the market signaling that holding some exposure to precious metals could be a reasonable alternative to risk assets. I can’t say with certainty that this interpretation is correct, but the clean technical move outside the consolidation range makes it hard to ignore.

Implied volatility rank is elevated around ~27, but gold volatility typically correlates positively with price. In other words, if gold continues to move higher, volatility often increases as well. That dynamic favors long calls, since rising volatility benefits those positions. Traders with a similar outlook might consider long call verticals or diagonal spreads. To size the trade smaller, I’m also looking at the SPDR Gold Trust ETF (GLD), which is showing a similar technical setup pointing to the upside.

Shared interests create accountability, momentum, and deeper meaning in both trading and everyday life.

A couple of weeks ago, I attended an event where about 250 traders gathered to connect and share their journeys. The highlight was a live trading session on stage during market hours. It was real money, real trades, and real math behind every decision. But my biggest takeaway wasn’t just the excitement of watching someone trade options live. It was the sense of community. A group of people with shared interests, speaking the same language, and learning from each other together in-person.

It made me think about the role community plays outside of trading. Take a running group: when the alarm goes off at 5 a.m., it’s easier to lace up knowing others are waiting. Or a cooking club: trying new dishes feels less intimidating when you’re swapping recipes and tasting each other’s creations. Or volunteering: working side by side with people who share your values creates a deeper sense of connection and engagement.

In each case, the activity is the hook, but the momentum comes from the people. Their progress fuels yours. Seeing them show up encourages you to do the same. Their experiences broaden your perspective. And their encouragement helps you push through when you might otherwise stop.

What’s great is that community doesn’t need to be formal or large to matter. Sometimes it’s just a few people checking in, keeping the conversation alive, and offering support when it’s needed. What matters most is the shared passion. People who care about the same things you do, whether that’s running, cooking, volunteering, or something else entirely.

The event reminded me that progress and growth don’t happen in isolation. If there’s something you want to get better at, look for others on the same path. The right community can transform an individual pursuit into something far more meaningful and help you reach a potential beyond what you imagined.

P.S. Want to see more of my trades? Subscribe to my YouTube channel.

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Hitting the Bid content is for informational and entertainment purposes only. The information contained is not, nor is it intended to be, trading or investment advice or a recommendation of any security, futures contract, digital asset or alike. I may hold a position in the trading vehicles discussed. Trading and investing contains risk. All investors should evaluate their own risk tolerance, financial situation, and investment duration before entering any trade or investment.