By MFM Team STATE OF THE MARKETS
Stocks jumped on negative breadth. US stocks jumped on Wednesday after a series of upbeat earnings from big tech companies, however, on negative breadth. Dow (+0.63%), Nasdaq (+0.50%), and S&P (+0.94%) closed in the green, but with 52% declining volume in NYSE and 57% in the NASDAQ exchanges. The 10Y yield was little changed at 178 basis points as the Dollar index stalled at the 96 mark.
In the commodities market, crude spiked higher to $88.73/bl after OPEC announced a staged output, but settled lower at $87.10/bl on profit taking as New York closed. Gold continued to climb and closed above $1,800/oz after weaker private payroll that pared higher Fed’s rate hikes in March. Elsewhere, inflation woes continue to drive iron ore higher, piercing $140/tn, the highest since November last year.
In the FX space, Sterling seized the helm of demand across all horizons while Kiwi was at the opposite end, signaling the extreme overbought conditions in GBP/NZD pair. Sentiments are clearly bearish as the high beta comdolls trio were in offers territories.
On Thursday, markets look for earnings reports from Amazon (AMZN), Eli Lilly (LLY), Ford (F), Estee Lauder (EL), Merck (MRK), Honeywell (HON), ConocoPhillips (COP), Cigna (CI), Activision (ATM) and Snap (SNAP) as well as the much awaited US jobless claims.
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G8 CURRENCIES SENTIMENTS
| ST | GBP | EUR | CHF | JPY | USD | AUD | CAD | NZD | ST |
| MT | GBP | EUR | CHF | USD | JPY | AUD | CAD | NZD | MT |
| LT | GBP | CAD | JPY | USD | 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 |
| AMD | 122.76 | + 5.12 | 180,065.0K | 62,857.7K |
| PYPL | 132.57 | – 24.59 | 136,263.9K | 15,911.8K |
| SPY | 457.35 | + 0.97 | 117,360.9K | 87,925.8K |
| TQQQ | 64.50 | + 2.36 | 100,815.2K | 101,827.2K |
| F | 20.63 | – 0.15 | 95,377.6K | 102,614.2K |
| AAPL | 175.84 | + 0.70 | 84,914.2K | 92,543.7K |
| SOXS | 4.05 | – 7.32 | 82,657.8K | 27,725.4K |
| OLB | 2.18 | + 15.34 | 81,566.9K | 4,411.8K |
| QQQ | 368.49 | + 0.81 | 78,777.1K | 58,862.3K |
| SQQQ | 35.71 | – 2.38 | 77,874.2K | 36,278.6K |
** % Change here refer to price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| AMD | 122.76 | 180,065.0K | + 99.88 | 22,104.8M |
| TSLA | 905.66 | 22,264.3K | – 27.90 | 20,163.9M |
| GOOGL | 2,960.00 | 6,159.9K | + 173.12 | 18,233.3M |
| FB | 323.00 | 58,458.2K | + 147.04 | 18,882.0M |
| PYPL | 132.57 | 136,263.9K | + 551.77 | 18,064.5M |
| AAPL | 175.84 | 84,914.2K | – 18.21 | 14,931.3M |
| NVDA | 252.42 | 54,341.9K | + 0.38 | 13,717.0M |
| GOOG | 2,960.73 | 4,487.5K | + 153.35 | 13,286.3M |
| AMZN | 3,012.25 | 4,366.4K | + 13.60 | 13,152.7M |
| MSFT | 313.46 | 36,635.9K | – 23.99 | 11,483.9M |
** % change here refers to volume
TOP 5 BLOCK ORDERS
| SYMBOL | PRICE | TYPE | R/VOL | FUNDS FLOW $ |
| PYPL | 132.57 | equities | 82.38 | 18,064.5M |
| RIVN | 64.32 | equities | 69.88 | 1,004.1M |
| TWTR | 36.51 | equities | 63.01 | 693.4M |
| ZF | 119.0875 – 119.0900 | US bonds futures | 16,484 | 196,306.1M |
| CL | 88.08 – 89.24 | crude oil futures | 247 | 21.8M |
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 until after the NFP.
For high probability picks, please use our Trading Central services. You could also join us at MFM’s TradeCopy
| 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