STATE OF THE MARKETS
Stocks struggled amid inflation concerns. US stocks tried to rally but failed after Secretary-Treasurer Yellen commented that inflation might be sticky even after rate hikes. Small cap Russell (-1.49%) fell the most, followed by S&P (-1.08%), Dow (-0.81%) and Nasdaq (-0.73%) as Dollar regained the 102.50 minor handle. Yields continue to rise but inversions remain between the 5Y (3.04%), 7Y (3.07%) and 10Y (3.03%) maturities.
In the commodities market, crude continues its upward trajectory after supply concerns plague markets with the Iran nuclear deal out of the window. The black gold settled above $120.60/bl after New York closed. Gold was trading in a tight range of $1,859.50 and $1,844.50/oz as markets await the inflation figures this Friday. Elsewhere, iron ore edged lower to $145.30/tn on profit taking.
In the FX space, Loonie and Aussie continue to reign in demand in the medium and long term accounts as Euro advanced further in the demand territories ahead of the ECM meeting on Thursday. Long term investors seemed bullish as more Dollar in demand than Swiss and Yen.
On Thursday, markets are expected to remain cautious while waiting for earning reports from NIO Inc (NIO), DocuSign (DOCU), Bilibili (BILI), Vail Resorts (MTN), FuelCell (FCEL), and Cango as well as the latest figures in US jobless claims.
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G8 CURRENCIES SENTIMENTS
| ST | EUR | GBP | CAD | AUD | USD | NZD | CHF | JPY | ST |
| MT | CAD | AUD | EUR | USD | GBP | NZD | CHF | JPY | MT |
| LT | CAD | AUD | EUR | NZD | USD | GBP | CHF | JPY | 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 |
| DIDI | 2.51 | + 12.05 | 129,811.9K | 53,636.0K |
| HTCR | 2.19 | + 114.71 | 119,066.6K | 478.1K |
| TQQQ | 32.65 | – 2.04 | 112,853.0K | 135,325.9K |
| AMD | 101.90 | – 3.21 | 97,641.9K | 111,938.5K |
| BABA | 119.62 | + 14.67 | 92,337.0K | 30,241.2K |
| SQQQ | 47.20 | + 2.05 | 76,082.8K | 107,405.0K |
| AERC | 9.23 | – 23.72 | 67,294.0K | 2,300.2K |
| NIO | 20.38 | + 3.71 | 65,311.6K | 71,117.1K |
| AMZN | 121.18 | – 1.48 | 64,926.6K | 86,012.8K |
| CS | 6.87 | – 1.01 | 64,533.3K | 12,929.2K |
** % Change here refer to price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| TSLA | 725.60 | 25,381.2K | – 19.96 | 18,416.6M |
| BABA | 119.62 | 92,337.0K | + 224.60 | 11,045.4M |
| AMD | 101.90 | 97,641.9K | – 21.08 | 9,949.7M |
| AAPL | 147.96 | 53,934.0K | – 46.49 | 7,980.1M |
| AMZN | 121.18 | 64,926.6K | – 36.03 | 7,867.8M |
| NVDA | 186.48 | 36,306.1K | – 41.62 | 6,770.4M |
| MSFT | 270.41 | 17,371.2K | – 45.72 | 4,697.3M |
| FB | 196.64 | 22,261.5K | – 20.60 | 4,377.5M |
| XOM | 104.59 | 31,606.7K | + 15.25 | 3,305.7M |
| GOOGL | 2,343.88 | 1,305.2K | – 31.82 | 3,059.2M |
** % change here refers to volume
TOP 5 BLOCK ORDERS
| SYMBOL | PRICE | TYPE | R/VOL | FUNDS FLOW $ |
| BABA | 119.62 | equities/options | 187.17 | 795.8M |
| F | 13.53 | equities/options | 88.00 | 1.8M |
| CHPT | 15.49 | equities/options | 73.02 | 1.1M |
| NQ | 12,634.25 | NASDAQ futures | 94,700 | 1,196.8M |
| YM | 32,958.00 | DOW futures | 34,950 | 1,152.5M |
OUR PICK – AUD/USD
Hikes beyond September may support the Dollar. Recent Feds talk that rates may have to raise further beyond September has supported the Dollar. Secretary-Treasurer Yellen remarks on sticky inflation may signal support for the idea. Concerns on stagflation may dim sentiments and put Aussie under pressure as RBA rate hikes failed to lift Aussie further. We see risk to the downside in the medium term.
For more high probability picks, please use our Trading Central services.
| HORIZON | STRATEGY | SL | TP1 | TP2 |
| Short-Term | Sell | 0.7260 | 0.7100 | 0.7050 |
| Medium-Term | Sell | 0.7260 | 0.7050 | 0.7000 |
| Long-Term | Flat | – | – | – |
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.
