STATE OF THE MARKETS
Stocks slide with hope. Small cap Russell (+0.34%) closed in green on Monday while Nasdaq (-0.72%), S&P (-0.30%) and Dow (-0.20%) slid lower, signaling that investors’ hope for a summer rally is around the corner. As at writing, the inversion between 5Y(3.29%) and 10Y (3.24%) remains to be seen as the Dollar index flirts with the 104 handle.
In the commodities market, crude climbed for the second day amid supply concerns as the G7 nations pledged to squeeze Russian oil out of the market. The black gold settled around $108.65/bl as New York closed. Gold was under pressure but remained resilient above $1822.50/oz as markets weigh on looming inflation data. Elsewhere, iron ore fell to $130.90/tn as demand concerns continue to weigh on the commodity.
In the FX space, sentiments turned bullish in the short and medium term as Loonie seized the helm of demand from Yen and Swiss while Euro, Aussie and Dollar flipped to demand in the short term.
On Tuesday, markets expect to bid some bargains in equities while waiting for earning reports from TD Synnex (SNX), Progress Software (PRGS), AeroVironment (AVAV), Enerpac Tool (EPAC) and Cognyte Software (CGNT) as well as the latest figures on US consumer confidence and Case-Schiller home price index.
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G8 CURRENCIES SENTIMENTS
| ST | CAD | EUR | AUD | USD | NZD | CHF | GBP | JPY | ST |
| MT | CAD | CHF | EUR | GBP | USD | JPY | NZD | AUD | MT |
| LT | CHF | EUR | USD | CAD | NZD | AUD | GBP | 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 |
| EVFM | 1.07 | + 187.71 | 507,167.0K | 2,600.4K |
| TQQQ | 27.32 | – 2.36 | 168,700.6K | 145,931.7K |
| AFIB | 1.01 | + 87.59 | 140,636.5K | 1,528.6K |
| NRSN | 2.50 | + 47.06 | 100,059.4K | 3,053.8K |
| SQQQ | 52.00 | + 1.94 | 84,161.8K | 111,770.5K |
| AMC | 14.13 | + 13.31 | 77,513.2K | 47,948.5K |
| AMD | 86.16 | – 1.06 | 74,613.2K | 109,580.0K |
| HOOD | 9.12 | + 14.00 | 73,252.1K | 21,002.2K |
| BOXD | 2.41 | + 3.88 | 72,497.4K | 3,276.4K |
| AAPL | 141.66 | 0.00 | 70,148.7K | 94,483.8K |
** % Change here refer to price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| TSLA | 734.76 | 29,679.6K | – 7.99 | 21,807.4M |
| AAPL | 141.66 | 70,148.7K | – 18.02 | 9,937.3M |
| NVDA | 168.69 | 42,775.1K | – 17.17 | 7,215.7M |
| AMZN | 113.22 | 62,070.5K | – 29.74 | 7,027.6M |
| MSFT | 264.89 | 24,600.7K | – 18.95 | 6,516.5M |
| AMD | 86.16 | 74,613.2K | – 23.68 | 6,428.7M |
| META | 169.49 | 29,133.8K | – 9.44 | 4,937.9M |
| GOOGL | 2,316.67 | 1,819.8K | – 3.59 | 4,215.9M |
| GOOG | 2,332.45 | 1,641.5K | + 5.33 | 3,828.7M |
| BABA | 118.73 | 21,695.0K | – 41.05 | 2,575.8M |
** % change here refers to volume
TOP 5 BLOCK ORDERS
| SYMBOL | PRICE | TYPE | R/VOL | FUNDS FLOW $ |
| CRM | 181.31 | equities/options | 128.04 | 1,118.8M |
| EVFM | 1.07 | equities/options | 75.64 | 546.8M |
| VAL | 47.10 | equities/options | 71.04 | 69.5M |
| NQ | 11,990.75 | NASDAQ futures | 20,835 | 249.7M |
| YM | 31,351.00 | DOW futures | 6,717 | 210.4M |
OUR PICK – AUD/USD
Improved risk sentiments may fuel a short term rally. Our short term sentiment indicator turned bullish though 2Y yields still favors the Dollar (2.73% vs 3.12%) by a wide margin. 5Y (3.47% vs 3.28%), however, favors Aussies and this may prompt medium term investors to bid at current exchange rate. We keep a small position with open TP to capture medium term gains if any.
For more high probability picks, please use our Trading Central services.
| HORIZON | STRATEGY | SL | TP1 | TP2 |
| Short-Term | Buy | 0.6910 | 0.7000 | 0.7035 |
| Medium-Term | Flat | – | – | – |
| 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.
