By MFM Team STATE OF THE MARKETS
Stocks rebound on short-covering. US stocks rebounded sharply on Monday, continuing the Friday rally, as investors look to buy the dips on value and defensive names, in a short-covering move. Dow (+1.17%), Nasdaq (+3.41%), and S&P (+1.89%) including Russell (+3.04%) all closed higher but were facing headwinds in key resistance ahead. Dollar dropped back to the 96.50 mark as the 10Y yield benchmark stalled at 175 – 180 basis points.
In the commodities market, geopolitical tensions and concerns over supply disruption saw steady bids in crude oil at $87 – $87.50/bl mark. Inflation concerns on the other hand, continue to support gold at $1,780 – $1,800/oz and iron ore at $130 – $131/tn.
In the FX space, long and medium term investors seemed more bullish as Swiss was offered while more bids were seen for Sterling, Euro and Loonie. Short term traders were back to selling the overbought Dollar while bidding Aussie and Euro.
On Tuesday, markets look for earnings reports from Exxon Mobil (XOM), Alphabet (GOOG), Paypal (PYPL), United Parcel Service (UPS), Advanced Micro Devices (AMD), Starbucks (SBUX), Gilead (GILD), General Motor (GM), Electronic Arts (EA) and Water Corps (WAT) as well as manufacturing PMIs and construction spending.
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G8 CURRENCIES SENTIMENTS
| ST | AUD | EUR | CHF | NZD | CAD | GBP | JPY | USD | ST |
| MT | USD | GBP | EUR | CAD | AUD | JPY | CHF | NZD | MT |
| LT | CAD | GBP | USD | JPY | EUR | CHF | AUD | NZD | LT |
** ST refers to Short-Term daily turnover, MT is Medium Term weekly
and LT refers to Long-Term monthly turnover.
WALL ST MOST ACTIVE
| TICKER | LAST PRICE |
% CHANGE |
VOLUME | 90 DAYS AVG |
| SPY | 449.91 | + 1.80 | 152,251.4K | 86,237.8K |
| AAPL | 174.78 | + 2.61 | 115,541.5K | 91,522.0K |
| TQQQ | 61.83 | + 9.69 | 113,751.1K | 100,665.0K |
| T | 25.50 | + 1.15 | 97,954.5K | 54,195.7K |
| AMD | 114.25 | + 8.56 | 97,205.9K | 59,454.2K |
| NIO | 24.51 | + 17.27 | 96,028.8K | 45,987.8K |
| QQQ | 363.05 | + 3.20 | 94,326.4K | 57,530.6K |
| F | 20.30 | + 3.89 | 91,361.9K | 101,475.7K |
| HYG | 84.39 | + 0.02 | 78,932.1K | 29,021.2K |
| IINN | 3.14 | + 36.52 | 74,358.6K | 5,871.6K |
** % Change here refer to price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| TSLA | 936.72 | 34,812.0K | + 8.91 | 32,609.1M |
| AAPL | 174.78 | 115,541.5K | + 9.56 | 20,194.3M |
| MSFT | 310.98 | 46,444.5K | – 2.01 | 14,443.3M |
| NVDA | 244.86 | 56,467.9K | + 5.70 | 13,826.7M |
| AMZN | 2,991.47 | 3,915.3K | + 2.66 | 11,712.5M |
| AMD | 114.25 | 97,205.9K | + 18.63 | 11,105.8M |
| NFLX | 427.14 | 20,047.4K | + 65.88 | 8,563.0M |
| FB | 313.26 | 21,579.4K | + 0.99 | 6,760.0M |
| GOOGL | 2,706.07 | 1,999.3K | + 4.21 | 5,410.2M |
| GOOG | 2,713.97 | 1,702.7K | + 10.62 | 4,621.1M |
** % change here refers to volume
TOP 5 BLOCK ORDERS
| SYMBOL | PRICE | TYPE | R/VOL | FUNDS FLOW $ |
| LCID | 29.39 | equities | 172.15 | 1,226.8M |
| FCX | 37.22 | equities | 49.75 | 752.4M |
| 6E | 1.1168 – 1.1180 | FX futures/EURUSD | 537 | 60.0M |
| ZT/F – TN | 108.0825 – 142.2400 | US bonds futures | 44,566 | 513,238.3M |
| CL | 83.80 – 87.90 | crude oil futures | 1,669 | 142.9M |
OUR PICK – No New Pick
We stay on the side-line for now. Due to increased volatility and high uncertainty at this point in time we decided to stay on the side-line for now.
For high probability picks, please use our Trading Central services.
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| HORIZON | STRATEGY | SL | TP1 | TP2 |
| Short-Term | – | – | – | – |
| Medium-Term | – | – | – | – |
| Long-Term | – | – | – | – |
Risk Disclaimer:
This article is for general information purpose only. It is not an investment advice or a solicitation to buy or sell any securities/oz. 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