Stocks Rallied As Q3 Earnings Kicked In

STATE OF THE MARKETS

Stocks rallied as Q3 earnings kicked in. US stocks staged a relief rally on Monday after few banks delivered solid earnings for Q3 and a drop in the manufacturing index dimmed the chance of a 75 basis points hike in December. Nasdaq (+3.43%) climbed the most, followed by Russell (+3.17%), S&P (+2.65%) and Dow (+1.86%) as the Dollar index pulled back below the 112.20 barrier. Bonds were sold-off, sending yields higher, with the 10Y benchmark back flirting above the 4% mark.

In the commodity markets, crude was in choppy trading as investors continue to weigh the impact of high inflation and energy demand amid global recession fears. The black gold was little changed around the $84.70/bl. Similar fate engulfed gold too but Dollar weakness continued to buoy the precious metal above the $1,640 handle. Elsewhere, iron ore continues to drift lower as choked demand continues to press the commodity below the $95/tn mark.

In the FX space, overall sentiments seemed bullish as Kiwi seized the helm of demand in the short and medium term while the safe haven Dollar and Yen were sold-off. Swiss was seen synching across all horizons, signaling that a change in sentiments might be around the corner.

On Tuesday, markets may expect the rally to continue as more earnings were released from the giants like Johnson & Johnson (JNJ), Netflix (NFLX), Lockheed Martin (LMT) and Goldman Sachs (GS). Investors also look ahead to the release of industrial production data and home builders index to gauge the health of the US economy.


G8 CURRENCIES SENTIMENTS

ST NZD AUD EUR CHF CAD GBP USD JPY ST
MT NZD GBP EUR CHF AUD CAD USD JPY MT
LT USD EUR GBP CHF JPY CAD NZD AUD 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 19.30 + 9.85 230,041.3K 180,536.1K
SQQQ 58.00 – 9.91 140,429.6K 126,640.4K
SOXL 7.33 + 5.77 113,336.0K 81,413.2K
SPY 366.82 + 2.57 93,234.6K 83,010.7K
BAC 33.62 + 6.06 88,870.3K 42,107.9K
AAPL 142.41 + 2.91 85,189.3K 80,910.8K
TSLA 219.35 + 7.01 79,282.3K 79,517.8K
AMD 57.96 + 3.61 77,012.0K 85,428.4K
CANO 4.73 – 42.53 76,099.0K 4,907.4K
AGFY 1.07 – 26.21 74,069.9K 2,618.8K
** % Change here refers to price vs previous day price


WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 219.35 79,282.3K + 5.48 17,390.6M
AAPL 142.41 85,189.3K – 11.03 12,131.8M
AMZN 113.79 62,721.2K + 9.62 7,137.0M
NVDA 118.88 58,027.8K – 6.82 6,898.3M
MSFT 237.53 28,129.4K – 5.06 6,681.6M
NFLX 245.10 21,038.2K + 64.80 5,156.5M
AMD 57.96 77,012.0K – 18.50 4,463.6M
META 134.04 29,582.5K – 7.30 3,965.2M
RBLX 42.61 71,190.3K + 242.34 3,033.4M
BAC 33.62 88,870.3K + 89.54 2,987.8M
** % change here refers to volume vs. 20 days average volume.


TOP 5 BLOCK ORDERS

TICKER PRICE TYPE VOL/OI FUNDS FLOW
LAZR 7.31 stock/options 239.86 27.9M
AAPL 142.41 stock/options 124.60 12,140.6M
CANO 4.73 stocks/options 51.46 359.4M
NQ 11,198.25 NASDAQ futures 18,735 209.8M
ES 3,716.50 S&P futures 39,941 148.5M


OUR PICK – AUD/CHF

Improved sentiments may float Aussie further. Our sentiments model signaled a bullish Aussie/Swiss in the short term that medium and long term sentiments may pick up if markets continue to be bullish.

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 0.6240 0.6325 06370
Medium-Term Flat
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.

Related articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share article

Latest articles

Newsletter

Subscribe to stay updated.

font-family: futura-pt, sans-serif; font-style: normal; font-weight: 300;