By MFM Team STATE OF THE MARKETS
Yields dipped amid flight to safety. US stocks pulled back on Monday after a short rally last week as investors flock to bonds’ safety for capital protection. The small cap Russell (-1.14%) dipped the most, followed by Nasdaq (-1.12%), S&P (-0.89%) and Dow (-0.63%) as the shorter term 2Y notes fell to 4.36% and the 10Y benchmark fell to 3.81%. The Dollar index continued its free fall to the 106 handle as at writing amid a less aggressive Federal Reserve.
In the commodity markets, demand concerns continue to plague crude oil that fell below $85/oz while risk aversion continues to support gold that continues to climb higher breaking $1780/oz in early Tuesday trading. Dollar weakness continues to support iron ore that climbed past $92/tn.
In the FX space, sentiments are bearish as demand for safe haven Swiss remained elevated in the medium and long term accounts. Dollar and Loonie continue to be sold off across the board, though short term traders were seen quick to sell the overbought Yen.
On Tuesday, markets expect to be cautious as the producer price index will spell the direction of inflation. Earnings releases to watch include Walmart (WMT), Home Depot (HD), Tencent Music (TME), Sea Ltd (SE), Advance Auto Parts (AAP), Aramak (ARMK) and Target (TGT) as well as the much awaited PPI-Final Demand and Empire State Manufacturing Index.
G8 CURRENCIES SENTIMENTS
| ST | GBP | NZD | EUR | AUD | CHF | USD | JPY | CAD | ST |
| MT | JPY | CHF | AUD | EUR | NZD | GBP | CAD | USD | MT |
| LT | NZD | EUR | GBP | CHF | AUD | JPY | CAD | USD | 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 |
| TQQQ | 22.07 | – 2.65 | 212,341.3K | 198,436.1K |
| SQQQ | 45.52 | + 2.59 | 125,838.6K | 134,040.4K |
| AMD | 73.53 | + 1.60 | 108,493.7K | 83,913.2K |
| SOXL | 12.77 | – 3.40 | 107,734.6K | 99,410.7K |
| AMZN | 98.49 | – 2.28 | 99,062.3K | 66,707.9K |
| TSLA | 190.95 | – 2.56 | 92,015.4K | 78,210.8K |
| BBD | 2.82 | – 1.05 | 80,334.4K | 34,417.8K |
| TBLT | 3.79 | + 72.27 | 76,341.4K | 8,328.4K |
| AAPL | 148.28 | – 0.95 | 73,330.8K | 83,307.4K |
| SPY | 395.12 | – 0.85 | 71,805.3K | 83,118.8K |
** % Change here refers to price vs previous day price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| TSLA | 190.95 | 92,015.4K | + 3.16 | 17,570.3M |
| AAPL | 148.28 | 73,330.8K | – 22.10 | 10,873.5M |
| AMZN | 98.49 | 99,062.3K | – 3.56 | 9,756.6M |
| NVDA | 162.95 | 52,785.2K | – 5.94 | 8,601.3M |
| AMD | 73.53 | 108,493.7K | + 22.79 | 7,977.5M |
| MSFT | 241.55 | 30,976.3K | – 10.22 | 7,482.3M |
| META | 114.22 | 53,137.0K | – 29.32 | 6,069.3M |
| NFLX | 299.27 | 17,918.4K | + 25.17 | 5,362.4M |
| GOOGL | 95.70 | 29,727.6K | – 27.94 | 2,844.9M |
| UNH | 513.73 | 5,223.0K | + 70.49 | 2,683.3M |
** % change here refers to volume vs. 20 days average volume.
TOP 5 BLOCK ORDERS
| TICKER | PRICE | TYPE | VOL/OI | FUNDS FLOW |
| UAA | 9.18 | stock/options | 101.83 | 103.2M |
| CHPT | 13.30 | stock/options | 90.92 | 108.2M |
| LCID | 12.21 | stocks/options | 85.37 | 221.9M |
| NQ | 11,734.75 | NASDAQ futures | 568,346 | 6,669.4M |
| ES | 3,966.00 | S&P 500 futures | 1,521,906 | 6,035.9M |
OUR PICK – No New Pick
We stay on the sideline for now. With VIX approaching key support at 22 and many setups having already made major moves, we decided to stay on the sideline for now.
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 | – | – | – | – |
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