By MFM Team STATE OF THE MARKETS
Dollar spiked as algos fixed metals lower. US stocks managed to stage a rebound on Thursday, after a series of algos trading fixed gold and silver lower that spiked the Dollar index near the 97.80 barrier before settling lower at 97 the figure. Dow (+0.28%), Nasdaq (+3.34%), and S&P (+1.50%) including Russell (+2.67%) rallied on short covering while bond demands sent yields lower. The shorter 2Y fell to 1.58%, 5Y to 1.87% and the longer 10Y to 1.97% while the 30Y to 2.28%.
In the commodities market, Russian attack spiked major commodities higher before algos trading kicked in to fixed the assets lower. Crude spiked near $100/bl before settling around $92.50/bl while gold spiked near $1,975/oz before settling around $1,903.50/oz as New York closed. Elsewhere, iron ore fell to $143/tn as new sanctions were imposed on Russia.
In the FX space, King Dollar seized the helm of demand across all horizons as traders and investors sought safe haven safety. Demand for safe-haven Swiss and Yen remained elevated across all horizons with Loonie in the short-term, Kiwi in the medium term and Aussie in the long term.
On Friday, markets will wait and see the latest development in the Russian-Ukraine war as well as earnings reports from CIBC (CM), Sempra Energy (SRE), Li Auto (LI), Icahn Enterprises (IEP), Foot Locker (FL), Lamar Ads (LAMR), Lending Tree (TREE), Northern Oil & Gas (NOG), Biohaven Pharma (BHVN) and Starwood (STWD). US Personal Income and consumer sentiments will also be in the spotlights to assess the health of the US economy.
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G8 CURRENCIES SENTIMENTS
| ST | USD | JPY | CAD | CHF | EUR | AUD | NZD | GBP | ST |
| MT | USD | NZD | JPY | CHF | AUD | CAD | EUR | GBP | MT |
| LT | USD | AUD | CHF | JPY | EUR | NZD | GBP | 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 |
| SPY | 428.30 | + 1.50 | 213,942.9K | 90,964.6K |
| TQQQ | 49.56 | + 9.79 | 194,867.4K | 102,993.2K |
| SQQQ | 43.32 | – 9.77 | 148,350.5K | 46,834.5K |
| XLF | 37.88 | – 1.20 | 143,075.7K | 61,440.2K |
| AMD | 116.61 | + 6.24 | 142,956.6K | 73,586.1K |
| AAPL | 162.74 | + 1.67 | 141,147.5K | 92,760.1K |
| QQQ | 340.49 | + 3.36 | 130,614.1K | 62,659.9K |
| UVXY | 17.44 | – 4.60 | 125,021.8K | 63,964.8K |
| PLTR | 11.83 | + 13.42 | 118,793.0K | 45,146.6K |
| VXX | 23.93 | – 3.14 | 110,653.7K | 54,983.7K |
** % 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 $ |
| 6E | 1.1161 | FX futures/EURUSD | 1,695 | 189.2M |
| GC | 1,943.20 | gold futures | 250 | 48.6M |
| SI | 25.38 | silver futures | 42 | 5.3M |
| ZT/F | 107.0938 – 117.2600 | US bonds futures | 18,521 | 203,485.9M |
| CL | 72.90 – 99.20 | crude oil futures | 6,487 | 555.2M |
OUR PICK – No New Pick
No new pick going into the weekend. The week ending 23rd February saw more outflows from the US equities, close to $3 billion, and $1.5 billion flowing out of taxable bond funds. $6.3 billion was flowing into short term money markets, suggesting that some cash is being put to work. We also saw some major institutions buying into the US equities on Thursday in select stocks.
Trades updates:
Equities: We remain bullish on AUY (18% undervalued) with dividends yielding 2.45%, COG (CTRA) (15% undervalued) yielding 2.70%, T (22% undervalued) at 8.95% yields, MO (21% undervalued) at 7.26% yields, VIPS (46% undervalued with 5.98 z-score) and CRON (17% undervalued with 9.18 z-score).
FX & Commodities: AUD/JPY and XAG/USD hit SL.
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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.
RT NewsWires