By MFM Team STATE OF THE MARKETS
Stocks propped higher though sentiments sour. US equities surged higher Thursday, with S&P500 made new records at 3,725 points, Dow tested the 30,300 and Nasdaq rose more than 100 points to closed at 12,764.75 while European equities took a dip earlier. In early Friday trading, post Bank of Japan decision, Asian equities retreated lower as players sensed the falling risk sentiments as evident in rising yield differential between junk and investment grade bond. BoJ left policy unchanged, following Bank of England and Swiss National Bank earlier.
Crude continued its climb, to close above $48.50, in a liquidity hunting to form a clear rising wedge on the daily, a bearish signal for traders. Gold spot surged higher with little pullback, to as high as $1,896.26/oz, on the back of stimulus deal worth more than $900b that would devalue the Dollar. In response, Dollar index (DXY) was sent lower and closed below the 90 mark, a level last seen in Spring 2018.
The primary beneficiaries in the short-term was the commodity currencies Aussie and Kiwi, together with Euro and Sterling. In the medium term however, the commodity currencies were seen in the back burner as investors took profit for the year end. CAD weakness across the three horizon, might suggest that an oil pullback is due soon.
G8 CURRENCIES SENTIMENTS
| ST | NZD | AUD | EUR | GBP | JPY | CAD | CHF | USD | ST |
| MT | GBP | EUR | JPY | AUD | NZD | CHF | USD | CAD | MT |
| LT | AUD | EUR | NZD | CHF | CAD | GBP | JPY | USD | LT |
** ST refers to Short-Term which is daily turnover, MT is Medium Term which is
weekly and LT refers to Long-Term which is monthly turnover.
WALL ST MOST ACTIVE
| TICKER | LAST PRICE |
% CHANGE |
VOLUME | 90 DAYS AVG |
| NXTD | 1.43 | + 54.22 | 399,819.3K | 7,125.5K |
| NIO | 46.00 | + 2.98 | 130,003.7K | 154,404.3K |
| MARA | 9.47 | + 15.07 | 89,585.9K | 15,076.9K |
| AAPL | 128.70 | + 0.70 | 94,359.8K | 143,572.8K |
| XSPA | 1.37 | – 5.52 | 73,140.5K | 5,110.2K |
| GE | 10.88 | – 0.46 | 62,446.0K | 103,577.0K |
| T | 29.62 | – 2.21 | 61,679.0K | 37,224.0K |
| PHUN | 1.24 | + 27.47 | 57,002.6K | 3,012.7K |
| IQ | 17.36 | – 4.11 | 55,956.1K | 7,206.9K |
| TSLA | 655.90 | + 5.32 | 56,270.1K | 58,814.6K |
** % Change here refer to price vs previous day price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| TSLA | 655.90 | 56,270.1K | + 11.43 | 36,907.6M |
| AAPL | 128.70 | 94,359.8K | – 2.62 | 12,144.1M |
| AMZN | 3,236.08 | 3,474.3K | – 0.79 | 11,243.1M |
| MSFT | 219.42 | 32,515.7K | + 20.10 | 7,134.6M |
| NIO | 46.00 | 130,003.7K | – 27.46 | 5,980.2M |
| MRNA | 144.00 | 32,404.4K | – 8.70 | 4,666.2M |
| ROKU | 329.48 | 14,082.0K | + 155.38 | 4,639.7M |
| FB | 274.48 | 16,377.8K | + 1.12 | 4,495.4M |
| BA | 221.24 | 17,465.6K | – 23.02 | 3,864.1M |
| BABA | 264.43 | 14,306.5K | – 12.98 | 3,783.1M |
** % change here refers to volume vs. 20 days average volume.
TOP 5 BLOCK ORDERS
| TICKER | PRICE/STRIKE | TYPE | VOL/OI | FUNDS FLOW |
| MIC | 37.19/32.50 | stock options/put | 138.33 | 96.6M |
| TSM | 103.90/110.00 | stock options/put | 73.45 | 808.3M |
| GC | 1,897.50 | gold futures | 100 | 19.0M |
| ZB | 173.18 | US bond futures | 3,000 | 51,954.0M |
| CL | 46.40 – 48.40 | crude oil futures | 2,777 | 133.1M |
OUR PICK – No New Pick
With growing uncertainties and going into weekend, we have no new pick.
| HORIZON | STRATEGY | SL | TP1 | TP2 |
| Short-Term | Flat | – | – | – |
| Medium-Term | Flat | – | – | – |
| Long-Term | Flat | – | – | – |
Disclaimer:
This article is for general information purpose only. It is not an investment advice or a solicitation to buy or sell any securities. Opinions expressed are of the authors and not necessarily of MFM Securities Limited or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Abdul H. Jaffar