By Abdul H. Jaffar 
STATE OF THE MARKETS
Stocks mixed amid falling yields. US stocks closed mixed on Monday as investors fully digested last week jobs and wage data that showed the Fed’s rate hikes were starting to slow the economy. Nasdaq (+0.63%) and Russell (+0.17%) climbed higher while Dow (-0.34%) and S&P (-0.08%) closed in the red as yields continue to fall in response to demand in bonds. The shorter 2Y yields dropped to 4.19% while the 10Y benchmark dipped to 3.51% as the Dollar index broke the 103 barrier.
In the commodity markets, crude oil held steady above the $74/bl mark as China reopened borders to boost demand expectation. Falling Dollar continues to push gold higher past $1,880/oz as investors speculate that the Federal Reserve might have to ease at some point this year. Elsewhere, iron ore benefits from weaker Dollar and China reopening helped buoy the commodity above $117.40/tn.
In the FX space, King Dollar was sold-off across the board and alongside the Yen and Swiss in the medium term. Short term traders were keen to demand more Euro, Swiss and Sterling while dumping Kiwi, Yen and Aussie. Sentiments were mixed.
On Tuesday, markets expected to be in choppy waters as investors geared up for the consumer price index this Thursday. Earnings releases to watch include Albertsons (ACI), TD Synnex (SNX) and Bed Bath & Beyond (BBY) as well as small business optimism index and wholesale inventories.
G8 CURRENCIES SENTIMENTS
| ST | EUR | CHF | GBP | CAD | USD | NZD | JPY | AUD | ST |
| MT | AUD | CAD | GBP | NZD | EUR | USD | CHF | JPY | MT |
| LT | JPY | EUR | CHF | AUD | NZD | GBP | 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 |
| TSLA | 119.77 | + 5.93 | 190,283.9K | 97,336.1K |
| TQQQ | 18.01 | + 2.10 | 185,163.2K | 218,640.4K |
| SOXL | 11.53 | + 6.07 | 136,317.4K | 114,713.2K |
| SQQQ | 51.28 | – 2.14 | 103,062.7K | 133,410.7K |
| APGN | 1.80 | + 105.13 | 94,907.8K | 92,617.9K |
| BBBY | 1.62 | + 23.66 | 89,006.0K | 15,310.8K |
| SPY | 387.86 | – 0.66 | 73,784.0K | 89,049.0K |
| AAPL | 130.15 | + 0.41 | 70,790.8K | 87,787.3K |
| AMD | 67.24 | + 5.13 | 69,741.2K | 75,743.9K |
| LABU | 6.64 | – 5.82 | 68,531.2K | 58,429.8K |
** % Change here refers to price vs previous day price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| TSLA | 119.77 | 190,283.9K | + 11.79 | 22,790.3M |
| AAPL | 130.15 | 70,790.8K | – 17.41 | 9,213.4M |
| NVDA | 156.28 | 50,423.0K | + 16.69 | 7,880.1M |
| MSFT | 227.12 | 27,369.7K | – 14.70 | 6,216.2M |
| AMZN | 87.36 | 65,266.0K | – 11.91 | 5,701.6M |
| AMD | 67.24 | 69,741.2K | + 29.39 | 4,689.4M |
| BABA | 110.83 | 42,085.2K | + 87.24 | 4,664.3M |
| META | 129.47 | 26,649.1K | – 8.87 | 3,450.3M |
| GOOGL | 88.02 | 29,003.9K | – 3.41 | 2,552.9M |
| LULU | 298.66 | 8,292.8K | + 219.85 | 2,476.7M |
** % change here refers to volume vs. 20 days average volume.
TOP 5 BLOCK ORDERS
| TICKER | PRICE | TYPE | VOL/OI | FUNDS FLOW |
| XPEV | 9.91 | stock/options | 174.84 | 245.1M |
| FSR | 7.35 | stock/options | 168.45 | 28.5M |
| IQ | 5.99 | stocks/options | 92.59 | 88.4M |
| NQ | 11,185.50 | NASDAQ futures | 640,308 | 7,162.2M |
| ES | 3,913.75 | S&P futures | 1,649,040 | 6,453.9M |
OUR PICK – No New Pick
We stay on the sideline for now. Markets don’t seem to favor our setup for now as we were stopped out on Gold and NZD/USD. We 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.