By MFM Team STATE OF THE MARKETS
Flight to safety continues. US stocks jumped higher on Tuesday after reports of better than expected earnings results from Walmart (WMT), Home Depot (HD) and a few other names that signaled upbeat consumers. Though Russell (+1.50%), Nasdaq (+1.45%) and S&P (+0.87%), including Dow (+0.17%) closed in the green, flight to bond safety remained the order of the day as yields continued to drop on rising bond prices. The shorter 2Y yielded 4.32% while the 10Y benchmark yielded 3.78% as the Dollar index continued to fall below the 106 handle.
In the commodity markets, crude oil remained well bid after news of supply disruption to Hungary. The black gold settled near $86.20/bl as New York closed. News of suspected Russian missiles that landed in Poland sent gold higher to break the $1,780/oz barrier. Elsewhere, iron ore continues to climb near $92.30/tn on Dollar weakness.
In the FX space, sentiments were mixed as Swiss and Yen reigned in demand in the medium term alongside Aussie and Kiwi across all horizons. Loonie and King Dollar remained on offer across all horizons.
On Wednesday, markets expects to remain volatile as more development reports on Poland bombings become available on the NATO member. Earnings release to watch include Lowe’s (LOW), NVIDIA Corp (NVDA), Cisco (CSCO), TJX Companies (TJX), Target (TGT), Copart (CPRT) and Bath & Body Works (BBWI) as well as the latest figures in the US mortgage applications, retail sales, import and export prices. EIA petroleum status will be in the spotlight for energy traders.
G8 CURRENCIES SENTIMENTS
| ST | GBP | AUD | NZD | EUR | JPY | CHF | CAD | USD | ST |
| MT | CHF | JPY | AUD | NZD | EUR | GBP | CAD | USD | MT |
| LT | NZD | GBP | EUR | AUD | CHF | 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 | 22.96 | + 4.03 | 316,012.4K | 199,036.1K |
| SQQQ | 43.67 | – 4.06 | 185,229.2K | 134,340.4K |
| SOXL | 13.87 | + 8.61 | 158,853.5K | 99,813.2K |
| AMZN | 98.94 | + 0.46 | 111,336.3K | 67,310.7K |
| AMD | 76.37 | + 3.86 | 108,946.3K | 84,217.9K |
| LABU | 7.69 | – 0.77 | 107,072.8K | 52,110.8K |
| CCL | 11.16 | + 5.28 | 101,013.1K | 60,149.0K |
| SPY | 398.49 | + 0.85 | 92,701.8K | 83,128.4K |
| TSLA | 194.42 | + 1.82 | 91,293.7K | 78,143.9K |
| AAPL | 150.04 | + 1.19 | 89,868.3K | 83,418.8K |
** % Change here refers to price vs previous day price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| TSLA | 194.42 | 91,293.7K | + 1.66 | 17,749.3M |
| AAPL | 150.04 | 89,868.3K | – 3.41 | 13,483.8M |
| AMZN | 98.94 | 111,336.3K | + 7.01 | 11,015.6M |
| NVDA | 166.66 | 54,587.5K | – 1.13 | 9,097.6M |
| AMD | 76.37 | 108,946.3K | + 22.87 | 8,320.2M |
| MSFT | 241.97 | 31,390.1K | – 9.70 | 7,595.5M |
| META | 117.08 | 50,670.4K | – 33.72 | 5,932.5M |
| NFLX | 310.20 | 14,626.9K | + 6.29 | 4,537.3M |
| BABA | 79.30 | 53,150.4K | + 49.13 | 4,214.8M |
| GOOGL | 98.44 | 41,640.8K | – 1.23 | 4,099.1M |
** % change here refers to volume vs. 20 days average volume.
TOP 5 BLOCK ORDERS
| TICKER | PRICE | TYPE | VOL/OI | FUNDS FLOW |
| QCOM | 126.02 | stock/options | 215.53 | 1,570.7M |
| BABA | 79.30 | stock/options | 120.78 | 4,195.4M |
| LAZR | 8.89 | stocks/options | 113.21 | 55.6M |
| NQ | 11,904.25 | NASDAQ futures | 766,466 | 9,124.2M |
| ES | 3,999.50 | S&P 500 futures | 2,167,599 | 8,669.3M |
OUR PICK – No New Pick
We stay on the sideline for now. With VIX rebounded back above 24 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