By MFM Team STATE OF THE MARKETS
Stocks battered as Russian troops advanced. US stocks continue to plunge on Wednesday after news hit the wires that Russian troops had advanced to enclave the Ukrainian’s border. Dow (-1.40%), Nasdaq (-2.64%), S&P (-1.84%) and Russell (-1.86%) dived deeper with the Russell now in bear markets territory after falling more than 20% from its closing high.
Cash demand remains elevated with the Dollar index jumping above the 96.20 barrier while bond prices fell, sending yields higher. The shorter 2Y rose to 1.61%, 5Y to 1.91% and the longer 10Y to 1.99% while the 30Y to 2.30%.
In the commodities market, growing war and inflation concerns sent crude oil close to $92/bl and gold continued to be bid above $1,910/oz. Elsewhere, iron ore regained bids as price spiked above $143.25/tn as the sanctions were less than what investors had anticipated.
In the FX space, traders and investors seemed to careless about the war as bids for high beta Aussie and Kiwi remain elevated. Safe haven Yen was seen synchronized across all horizons signifying rebalancing in the last week of the month.
On Thursday, markets look for earnings reports from Alibaba (BABA), Royal Bank of Canada (RY), Intuit (INTU), American Tower (AMT), Moderna (MRNA), Newmont Corp (NEM), Dell Tech (DELL), VMware (VMW), Wayfair (W) and Monster Beverages (MNST) as well as the latest figures on US jobless claims and home sales. The EIA petroleum status report will be in the spotlight for energy traders.
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G8 CURRENCIES SENTIMENTS
| ST | NZD | AUD | CHF | JPY | USD | CAD | GBP | EUR | ST |
| MT | NZD | CHF | AUD | JPY | USD | GBP | CAD | EUR | MT |
| LT | AUD | USD | NZD | JPY | CHF | GBP | EUR | CAD | 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 |
| IMPP | 1.13 | + 41.25 | 162,758.2K | 5,378.6K |
| SPY | 421.95 | – 1.77 | 132,336.6K | 90,271.9K |
| TQQQ | 45.14 | – 7.65 | 129,970.5K | 102,220.0K |
| AMD | 109.76 | – 5.09 | 120,068.7K | 72,770.6K |
| SQQQ | 48.01 | + 7.65 | 104,710.2K | 45,868.0K |
| UVXY | 18.28 | + 8.68 | 101,785.3K | 63,196.0K |
| PLTR | 10.43 | – 0.48 | 93,854.7K | 44,392.7K |
| AAPL | 160.07 | – 2.59 | 89,677.3K | 92,536.7K |
| QQQ | 329.42 | – 2.56 | 85,966.6K | 62,184.6K |
| SOXS | 4.95 | + 7.38 | 80,267.8K | 36,022.3K |
** % Change here refer to price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| TSLA | 764.04 | 31,463.3K | + 20.13 | 24,039.2M |
| AAPL | 160.07 | 89,677.3K | – 1.80 | 14,354.6M |
| AMD | 109.76 | 120,068.7K | + 3.74 | 13,178.7M |
| NVDA | 223.87 | 56,464.3K | – 0.42 | 12,640.7M |
| MSFT | 280.27 | 37,721.5K | – 7.23 | 10,572.2M |
| AMZN | 2,896.54 | 3,202.3K | – 28.63 | 9,275.6M |
| FB | 198.45 | 44,354.1K | – 19.32 | 8,802.1M |
| GOOGL | 2,551.76 | 1,632.7K | – 31.53 | 4,166.3M |
| HD | 308.45 | 11,018.4K | + 117.96 | 3,398.6M |
| GOOG | 2,551.70 | 1,316.3K | – 31.44 | 3,358.8M |
** % change here refers to volume
TOP 5 BLOCK ORDERS
| SYMBOL | PRICE | TYPE | R/VOL | FUNDS FLOW $ |
| FB | 198.45 | equities/options | 183.34 | 8,827.3M |
| FLEX | 16.36 | equities/options | 160.08 | 73.1M |
| SI | 24.10 | silver futures | 586 | 70.6M |
| ZN | 126.1050 | US bonds futures | 8,000 | 100,884.0M |
| CL | 82.85 – 91.75 | crude oil futures | 700 | 60.4M |
OUR PICK – No New Picks
No new pick as we had three losses in a row. Losses are part of the game and we have to know when to stop. Given higher than usual volatility, maybe it’s a good time to stay on the sideline for now.
For high probability picks, please use our Trading Central services.
| 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