By Abdul H. Jaffar STATE OF THE MARKETS
Stocks higher ahead of CPI. US stocks climbed higher on Monday as investors expect softer inflation and less aggressive hikes from the Federal Reserve. Dow (+1.58%) climbed the most, followed by S&P (+1.43%), Nasdaq (+1.26%) and Russell (+1.22%) as yields climbed higher across the board. The shorter 2Y edged higher to 4.38% while the 10Y benchmark at 3.61% as the Dollar index continued to float above the 105 handle.
In the commodity markets, crude oil jumped higher after news of supply disruption in the United States and Russia plan on production cut. The black gold settled above $73.30/bl as New York closed. Gold was under pressure on profit taking and closed near $1,781.25/oz as investors await inflation data. Elsewhere, iron ore continues to float around $109.50/tn as investors await for the next catalysts.
In the FX space, overall sentiments turned bullish as Yen and Swiss retreated in demand while Kiwi, Aussie and Loonie advanced further into the demand territories alongside Sterling. King Dollar continues to be offered as investors expect softer inflation.
On Tuesday, markets expect to be defensive ahead of the Fed’s meeting this Wednesday. Earnings releases to watch include Core & Main (CNM), Photronics (PLAB), ABM Industries (ABM) and Braze (BRZE) as well as the much awaited inflation figures and small business optimism.
G8 CURRENCIES SENTIMENTS
| ST | GBP | CAD | EUR | NZD | AUD | CHF | USD | JPY | ST |
| MT | NZD | AUD | GBP | CHF | EUR | USD | CAD | JPY | MT |
| LT | GBP | NZD | JPY | CHF | EUR | AUD | USD | 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 |
| HTGM | 1.02 | + 88.89 | 144,741.3K | 683,636.1K |
| TQQQ | 21.65 | + 3.64 | 111,338.1K | 204,440.4K |
| TSLA | 167.82 | – 6.27 | 109,794.4K | 77,213.2K |
| HARP | 1.41 | + 22.61 | 99,022.6K | 177,310.7K |
| SQQQ | 44.77 | – 3.70 | 88,312.3K | 133,607.9K |
| SPY | 398.95 | + 1.44 | 75,035.5K | 83,738.0K |
| SOXL | 12.98 | + 5.36 | 72,746.5K | 106,317.8K |
| XLF | 34.99 | + 1.33 | 72,541.4K | 41,328.4K |
| LABU | 6.84 | + 7.04 | 72,026.4K | 54,507.4K |
| AAPL | 144.49 | + 1.64 | 70,462.6K | 82,818.8K |
** % Change here refers to price vs previous day price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| TSLA | 167.82 | 109,794.4K | + 25.98 | 18,425.7M |
| AAPL | 144.49 | 70,462.6K | + 0.67 | 10,181.1M |
| NVDA | 175.35 | 45,732.7K | + 2.49 | 8,019.2M |
| MSFT | 252.51 | 30,665.0K | + 25.08 | 7,743.2M |
| AMZN | 90.55 | 61,999.7K | – 17.18 | 5,614.1M |
| HZNP | 112.36 | 44,448.4K | + 736.99 | 4,994.2M |
| AMD | 70.67 | 60,968.3K | – 8.03 | 4,308.6M |
| NFLX | 315.18 | 10,148.6K | + 6.49 | 3,198.6M |
| META | 114.71 | 24,747.0K | – 23.81 | 2,838.7M |
| GOOGL | 93.31 | 29,009.0K | + 7.66 | 2,706.8M |
** % change here refers to volume vs. 20 days average volume.
TOP 5 BLOCK ORDERS
| TICKER | PRICE | TYPE | VOL/OI | FUNDS FLOW |
| SIRI | 6.15 | stock/options | 106.93 | 58.2M |
| GSK | 35.71 | stock/options | 86.38 | 158.8M |
| U | 33.78 | stocks/options | 85.46 | 278.1M |
| ES | 4,015.75 | S&P futures | 133,240 | 535.4M |
| NQ | 11,790.25 | NASDAQ futures | 45,366 | 535.6M |
OUR PICK – No New Pick
We stay on the sideline for now. Though stocks moved higher, VIX continued to climb past 25 points which is a conflicting signal. With FOMC on Wednesday, 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.