STATE OF THE MARKETS
Stocks mixed as big tech disappoints . US stocks closed mixed on Wednesday after disappointing earnings from big tech Microsoft (MSFT) and Alphabet (GOOGL) that dragged Nasdaq (-2.04%) sharply lower. Following suit was S&P (-0.74%) but Russell (+0.46%) and Dow (-0.01%) managed to eke minor gains amid flight to bond safety that sent yields lower across the board. The 10Y benchmark fell to 4.01% as the Dollar was sold off near the 109.50 minor handle.
In the commodity markets, crude oil jumped higher after Saudi warned that dwindling emergency reserves would force markets to recalibrate on demand and supply. The black gold settled around $87.90/bl as New York closed. Dollar weakness continues to push gold above $1,674.85/oz before short term profit taking settles the precious metal lower around $1,664.40/oz. Elsewhere, global recession fears continue to plague iron ore as the commodity dragged lower to $93.55/tn.
In the FX space, short term traders were quick to bid the oversold Yen alongside Sterling and Kiwi as Swiss, Dollar and Loonie were sent to offers. Sterling and Euro continue to reign in the medium and long term accounts as Yen and Swiss remained in offers. Sentiments were mixed.
On Thursday, markets expect to remain cautious as investors shift focus to the jobless claims number, durable goods order and the GDP to gauge the health of the US economy and Fed’s plan for rate hikes. Earnings to watch include Apple (AAPL), Amazon (AMZN), Mastercard (MA), Merck (MRK), McDonalds (MCD), T-Mobile (TMUS), Intel (INTC), Caterpillar (CAT), Gilead Sciences (GILD) and American Tower (AMT).
G8 CURRENCIES SENTIMENTS
| ST | JPY | GBP | NZD | EUR | AUD | CHF | USD | CAD | ST |
| MT | GBP | EUR | AUD | NZD | JPY | CHF | CAD | USD | MT |
| LT | GBP | EUR | USD | NZD | CAD | JPY | CHF | 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 | 21.06 | – 6.61 | 282,509.0K | 187,218.3K |
| SQQQ | 52.32 | + 6.54 | 162,628.2K | 128,313.6K |
| SOXL | 9.01 | – 2.70 | 143,645.9K | 88,319.6K |
| EPIX | 4.82 | + 180.23 | 118,223.2K | 335,708.8K |
| SNAP | 9.58 | – 0.21 | 104,842.8K | 53,841.8K |
| SPY | 382.02 | – 0.75 | 104,121.8K | 81,248.5K |
| META | 129.82 | – 5.59 | 89,304.8K | 30,140.7K |
| AAPL | 149.35 | – 1.96 | 88,381.2K | 80,049.4K |
| GOOGL | 94.93 | – 9.14 | 88,218.7K | 30,207.2K |
| F | 12.82 | – 0.08 | 87,054.8K | 66,342.8K |
** % Change here refers to price vs previous day price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| TSLA | 224.64 | 85,178.8K | + 0.90 | 19,134.6M |
| MSFT | 231.32 | 82,644.0K | + 164.43 | 19,117.2M |
| AAPL | 149.35 | 88,381.2K | + 1.04 | 13,199.7M |
| META | 129.82 | 89,304.8K | + 138.73 | 11,593.5M |
| GOOGL | 94.93 | 88,218.7K | + 189.48 | 8,374.6M |
| AMZN | 115.66 | 68,943.2K | + 22.47 | 7,974.0M |
| NVDA | 128.96 | 53,491.6K | – 11.28 | 6,898.3M |
| GOOG | 94.82 | 71,596.0K | + 179.00 | 6,788.7M |
| AMD | 59.73 | 79,859.2K | – 16.40 | 4,770.0M |
| NFLX | 298.62 | 15,734.7K | – 5.79 | 4,698.7M |
** % change here refers to volume vs. 20 days average volume.
TOP 5 BLOCK ORDERS
| TICKER | PRICE | TYPE | VOL/OI | FUNDS FLOW |
| DIS | 104.63 | stock/options | 108.13 | 963.0M |
| LAZR | 7.53 | stock/options | 89.88 | 52.3M |
| NCLH | 15.90 | stocks/options | 70.68 | 317.3M |
| NQ | 11,485.50 | NASDAQ futures | 15,147 | 173.6M |
| YM | 32,016.00 | DOW futures | 4,018 | 128.2M |
OUR PICK – No New Pick
We stay focused on open exposures. With seven stocks, AUD/CHF and Crude Oil still at play, we decided to stay focused on our open exposure for now. EUR/GBP has stopped out.
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.
