STATE OF THE MARKETS
Dollar rebounded on strong job reports. US stocks edged lower on Wednesday after ADP reported 208k jobs were created in September, compared to 185k in August. Fear of further Fed’s rate hikes sent the Dollar near the 111.80 barrier before settling around the 110.90 mark. Major averages retreated from earlier gains with Russell (-0.74%) down the most, followed by Nasdaq (-0.25%), S&P (-0.20%) and Dow (-0.14%). Bonds lost bids, sending yields higher, with the 10Y benchmark back above 3.75% while the short term 1Y yields 4.16%.
In the commodity markets, Crude climbed higher and closed above $87.40/bl after news of a 2 million bpd cut from OPEC+. Dollar strength weighed on gold as the precious metal dipped near $1700/oz before bidders emerged to settle it around the $1,716 mark. Elsewhere, iron ore stalled around $95.20/tn waiting for a catalyst for the next move.
In the FX space, short term traders were quick to bid more Dollar, Aussie and Kiwi while sending Loonie, Euro and Sterling to offer. Medium term accounts flipped King Dollar back to demand alongside Kiwi, Euro and Sterling while keeping Yen, Aussie and Swiss in offers. Long term accounts were little changed.
On Thursday, markets expect to remain cautious as investors positioned for the NFP report on Friday. Earnings to watch include Constellation Brands (STZ), McCormick (MKC), Conagra Brands (CAG), Levi Strauss (LEVI), Accolade (ACCD) and AngioDynamics (ANGO) as well as the latest US jobless claims.
G8 CURRENCIES SENTIMENTS
| ST | USD | AUD | NZD | JPY | CHF | CAD | EUR | GBP | ST |
| MT | GBP | EUR | NZD | USD | CAD | JPY | AUD | CHF | MT |
| LT | USD | CHF | EUR | GBP | CAD | JPY | AUD | NZD | 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 |
| PCG | 14.75 | + 3.95 | 94,109.0K | 20,518.3K |
| F | 12.51 | + 1.21 | 87,928.2K | 64,513.6K |
| AMD | 67.94 | + 0.06 | 87,045.9K | 85,119.6K |
| TSLA | 240.81 | – 3.46 | 86,883.2K | 80,608.8K |
| CCL | 7.43 | – 4.25 | 82,831.7K | 56,341.8K |
| AAPL | 146.40 | + 0.21 | 79,421.8K | 80,948.5K |
| TWTR | 51.30 | – 1.35 | 74,471.9K | 14,340.7K |
| NVDA | 132.09 | + 0.32 | 50,672.3K | 55,449.4K |
| AMZN | 120.95 | – 0.12 | 48,182.0K | 65,907.2K |
| T | 15.93 | – 0.99 | 38,348.4K | 39,442.8K |
** % Change here refers to price vs previous day price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| TSLA | 240.81 | 86,883.2K | + 25.63 | 20,922.3M |
| AAPL | 146.40 | 79,421.8K | – 22.67 | 11,627.4M |
| NVDA | 132.09 | 50,672.3K | – 14.11 | 6,693.3M |
| AMD | 67.94 | 87,045.9K | + 8.19 | 5,913.9M |
| AMZN | 120.95 | 48,182.0K | – 17.40 | 5,827.6M |
| MSFT | 249.20 | 20,325.2K | – 28.45 | 5,065.0M |
| META | 138.98 | 27,962.5K | – 12.13 | 3,886.2M |
| TWTR | 51.30 | 74,471.9K | + 335.10 | 3,820.4M |
| XOM | 99.12 | 34,843.2K | + 65.07 | 3,453.7M |
| ENPH | 261.60 | 12,139.6K | + 186.17 | 3,175.7M |
** % change here refers to volume vs. 20 days average volume.
TOP 5 BLOCK ORDERS
| TICKER | PRICE | TYPE | VOL/OI | FUNDS FLOW |
| PTEN | 14.31 | stock/options | 119.92 | 41.3M |
| TSLA | 240.81 | stock/options | 99.07 | 20,946.3M |
| XOM | 99.12 | stocks/options | 67.36 | 3,455.1M |
| NQ | 11,716.50 | NASDAQ futures | 18,071 | 211.9M |
| ES | 3,816.25 | S&P futures | 31,204 | 119.1M |
OUR PICK – No New Pick
We stay on the sideline ahead of the NFP. With thin markets ahead of the NFP Friday, 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.
