STATE OF THE MARKETS
Stocks mixed amid rising Dollar. US stocks closed mixed on Tuesday while the Dollar continued to rise past the 113.50 mark after Secretary Yellen commented that the strength of the US Dollar relies on its interest rates. Further comments from Fed’s Loretta Mester that rates needed to move higher, continue to buoy the greenback; while Dow (+0.12%) and Russell (+0.06%) closed in the green but S&P (-0.65%) and Nasdaq (-1.10%) edged lower. Movements in treasuries showed heavy settlement as participants geared for higher rates. The 10Y benchmark settled around 3.95% as New York closed.
In the commodity markets, crude fell for the second day after global growth concerns continue to weigh on the markets. The black gold settled near $87.45/bl while gold continued to be under selling pressure. The yellow metal however received heavy bids at the $1650 handle. Elsewhere, iron ore pulled back below $97/tn on recession fears.
In the FX space, medium to long term accounts were little changed except Sterling that flipped to demand in the long term while Yen flipped to offer. Sentiments seemed mixed with short term traders reverted to bidding Kiwi alongside the safe-haven Swiss, Euro and Loonie while dumping Sterling, Dollar, Aussie and Yen.
On Wednesday, markets expect a more volatile session as the PPI reports and Fed’s latest meeting minutes may shed light on the Fed’s plan for rate hikes. Earnings to watch include PepsiCo (PEP) and Duck Creek Tech (DCT) as well as the latest figures in mortgage applications and PPIs. EIA petroleum status will be in the spotlight for energy traders.
G8 CURRENCIES SENTIMENTS
| ST | NZD | CHF | EUR | CAD | GBP | USD | AUD | JPY | ST |
| MT | USD | CHF | JPY | CAD | NZD | EUR | GBP | AUD | MT |
| LT | USD | CHF | EUR | GBP | JPY | 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 | 18.14 | – 3.97 | 264,912.4K | 173,836.1K |
| SOXL | 7.57 | – 8.57 | 186,529.2K | 74,940.4K |
| SQQQ | 63.20 | + 3.73 | 157,340.4K | 123,813.2K |
| AMD | 57.63 | – 0.31 | 114,015.8K | 85,210.7K |
| SPY | 357.74 | – 0.63 | 92,530.8K | 81,117.9K |
| UBER | 24.66 | – 10.42 | 92,549.6K | 28,310.8K |
| AAPL | 138.98 | – 1.03 | 77,013.1K | 80,347.8K |
| TSLA | 216.50 | – 2.90 | 76,897.9K | 79,928.4K |
| F | 11.56 | + 1.76 | 75,235.9K | 65,543.9K |
| CCL | 6.64 | + 4.08 | 73,413.3K | 58,318.8K |
** % Change here refers to price vs previous day price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| TSLA | 216.50 | 76,897.9K | + 5.61 | 16,648.4M |
| AAPL | 138.98 | 77,013.1K | – 22.20 | 10,703.3M |
| NVDA | 115.86 | 66,720.3K | + 9.64 | 7,730.3M |
| MSFT | 225.41 | 30,466.5K | + 2.95 | 6,867.5M |
| AMD | 57.63 | 114,015.8K | + 27.62 | 6,570.7M |
| AMZN | 67.90 | 56,401.0K | – 1.26 | 6,328.8M |
| META | 140.28 | 38,470.4K | + 17.27 | 4,945.0M |
| NFLX | 240.74 | 15,277.8K | + 20.76 | 3,273.9M |
| TRGP | 101.64 | 49,033.2K | + 998.51 | 3,228.8M |
| GOOGL | 52.00 | 26,497.0K | – 8.24 | 2,575.0M |
** % change here refers to volume vs. 20 days average volume.
TOP 5 BLOCK ORDERS
| TICKER | PRICE | TYPE | VOL/OI | FUNDS FLOW |
| LAZR | 6.74 | stock/options | 275.00 | 45.5M |
| LYFT | 11.27 | stock/options | 139.08 | 448.0M |
| RGTI | 1.90 | stocks/options | 136.73 | 2.5M |
| NQ | 11,876.25 | NASDAQ futures | 13,444 | 145.9M |
| ES | 3,607.50 | S&P futures | 27,810 | 100.2M |
OUR PICK – CAD/JPY
Short and medium term upside. Our sentiment model indicates a short term upside while medium term accounts are catching up as price moved above the monthly, weekly and daily pivot confluence. Improved sentiments may further CAD bidding on the net energy importer Yen accounts. Long term upside might be limited as any change in sentiments might push the pair lower.
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 | Buy | 105.00 | 107.15 | 107.75 |
| Medium-Term | Buy | 105.00 | 107.75 | 108.45 |
| Long-Term | Flat | – | – | – |
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.
