STATE OF THE MARKETS
Stocks tumbled as US-China’s tension returned. US stocks tried to recover in early trading but were dragged down after White House announced new restrictions on semiconductors sales to China on Monday. The tech-laden Nasdaq (-1.04%) fell the most, followed by S&P (-0.75%), Russell (-0.60%) and Dow (-0.32%) as the Dollar index continued to climb on haven demand past the 113.20 barrier. The 10Y benchmark jumped to 4.00% briefly before plunging to 3.9% as at writing.
In the commodity markets, Dollar strength continued to weigh on major commodities with crude closed below $89.85/bl while gold had a third day drop to $1,665.60/oz. Iron ore, however, managed to secure bids from speculators to rise past $97.30/tn, $2 more than the low of last week.
In the FX space, King Dollar reigned in demand across all horizons, alongside Swiss, Yen, Sterling in the short term, and Euro in the long term. Aussie and Kiwi remained on offers across the board, except Kiwi in the short term, as short term traders bid on the oversold.
On Tuesday, markets expect to be choppy as investors look ahead to the release of PPI data on Wednesday and CPI inflation on Thursday. Earnings reports to watch for include AZZ Inc (AZZ) and VOXX International (VOXX) as well as the latest index on US small business optimism.
G8 CURRENCIES SENTIMENTS
| ST | USD | GBP | JPY | NZD | CHF | EUR | CAD | AUD | ST |
| MT | USD | CHF | JPY | CAD | EUR | NZD | GBP | AUD | MT |
| LT | USD | CHF | EUR | JPY | GBP | CAD | 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 |
| TQQQ | 18.89 | – 3.13 | 206,541.3K | 173,836.1K |
| SOXL | 8.28 | – 10.10 | 163,429.6K | 73,640.4K |
| SQQQ | 60.93 | + 3.15 | 141,836.0K | 123,613.2K |
| F | 11.36 | – 6.89 | 115,534.6K | 64,810.7K |
| AMD | 57.81 | – 1.08 | 112,241.7K | 85,007.9K |
| CCL | 6.38 | – 5.62 | 82,525.2K | 57,810.8K |
| APDN | 2.12 | + 70.97 | 80,923.8K | 5,517.8K |
| SPY | 360.02 | – 0.76 | 76,012.0K | 81,228.4K |
| AAPL | 140.42 | + 0.24 | 74,899.0K | 80,307.4K |
| NVDA | 116.70 | – 3.36 | 69,869.9K | 54,818.8K |
** % Change here refers to price vs previous day price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| TSLA | 222.96 | 67,925.0K | – 6.15 | 15,144.6M |
| AAPL | 140.42 | 74,899.0K | – 26.04 | 10,517.3M |
| NVDA | 116.70 | 69,869.9K | + 14.37 | 8,153.8M |
| MSFT | 229.25 | 29,743.6K | + 0.02 | 6,818.7M |
| AMD | 57.81 | 112,241.7K | + 28.01 | 6,488.7M |
| AMZN | 113.67 | 42,339.6K | – 26.92 | 4,812.7M |
| META | 133.79 | 24,023.9K | – 27.43 | 3,214.2M |
| NFLX | 229.98 | 9,991.1K | – 18.69 | 2,297.8M |
| GOOGL | 97.86 | 18,225.0K | – 38.13 | 1,783.5M |
| PYPL | 84.52 | 20,930.4K | + 58.30 | 1,769.0M |
** % change here refers to volume vs. 20 days average volume.
TOP 5 BLOCK ORDERS
| TICKER | PRICE | TYPE | VOL/OI | FUNDS FLOW |
| NKLA | 3.00 | stock/options | 86.85 | 39.9M |
| CHPT | 13.76 | stock/options | 120.22 | 119.7M |
| AMAT | 79.19 | stocks/options | 60.57 | 1,125.4M |
| NQ | 10,998.75 | NASDAQ futures | 14,125 | 155.6M |
| YM | 29,262.00 | DOW futures | 3,662 | 107.1M |
OUR PICK – No New Pick
We stay on the sideline for now. We see choppy markets ahead and with many setups have already made their move, 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.
