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Markets Mixed Amid Stimulus Uncertainty

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STATE OF THE MARKETS

Markets mixed amid stimulus uncertainty. Global markets closed Wednesday in a mixed tone as the world’s largest economy was still uncertain on the amount of stimulus spending needed to reflate the economy. While the Dow and S&P rose more than 0.10%, Nasdaq fell 0.02% with the FTSE UK (-0.14%) before Asian equities took a dip in early Thursday trading after reports of rising China short-term interest rate hit the markets. Liquidity concerns may trigger further safe-haven flow as Europe open later today. The US 10Y benchmark climbed higher to closed at 1.14%.

Crude climbed further up, closed above $55.65/bl after EIA reports showed that US supplies fell to the lowest level since March last year, at the peak of the pandemic. Gold dipped further as the stimulus uncertainty looms that give support to the Greenback. The yellow metal, closed below $1,833.80 before diving further in Thursday trading; which saw Dollar index holding strong above the 91.00 mark.

Earlier as New York closed, King Dollar took a retreat as the comdolls returned to demand across the short and medium term accounts. Sterling took a dive as short and medium term accounts took profit, while long term investors continue to accumulate the Queen’s currency. Swiss and Yen retreats across the board suggested that markets remain optimistic for now.


G8 CURRENCIES SENTIMENTS

ST NZD AUD USD CAD EUR JPY CHF GBP ST
MT NZD CAD USD AUD GBP EUR JPY CHF MT
LT GBP USD NZD CAD AUD EUR JPY CHF LT
** ST refers to Short-Term which is daily turnover, MT is Medium Term which is weekly 
and LT refers to Long-Term which is monthly turnover.

WALL ST MOST ACTIVE

TICKER LAST PRICE

% CHANGE

VOLUME 90 DAYS AVG
SNDL 1.21 + 16.35 979,797.9K 310,541.7K
NAKD 1.22 + 34.05 386,523.9K 169,576.3K
TYME 3.53 + 93.96 276,469.9K 998.8K
AMC 8.97 + 14.71 221,405.1K 77,699.7K
VXRT 9.85 – 57.78 170,025.4K 11,771.8K
NOK 4.70 + 3.75 95,964.3K 64,119.5K
ZYNE 4.54 + 27.39 86,193.4K 912.5K
TLRY 26.31 + 12.01 83,712.2K 23,287.3K
AAPL 133.94 – 0.78 89,880.9K 116,339.3K
CCIV 29.49 – 8.25 85,281.2K 15,129.0K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
AMZN 3,312.53 7,088.7K + 71.22 23,481.5M
TSLA 854.69 18,343.5K – 47.08 15,678.0M
AAPL 133.94 89,880.9K  – 21.13 12,038.6M
GOOGL 2,058.88 4,894.0K + 108.59 10,076.2M
GOOG 2,070.07 4,118.1K + 116.57 8,524.8M
BABA 263.43 29,179.6K + 14.90 7,686.8M
MSFT 243.00 27,158.1K – 19.34 6,599.4M
SAVA 87.95 54,517.3K + 418.73 4,794.8M
NIO 57.98 80,122.3K – 32.17 4,645.5M
GME 92.41 42,698.5K – 39.25 3,945.8M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE/STRIKE TYPE VOL/OI FUNDS FLOW $
T 28.51/30.50 stock options/call 63.38 1,151.4M
GC 1,839.00 gold futures 135 24.8M
SO 26.94 silver futures 172 23.2M
ZT 110.1538 US bond futures 5,000 55,076.9M
CL 55.00 – 55.35 crude oil futures 1,100 60.6M

OUR PICK – XAG/USD

Dollar being repriced as stimulus uncertainty looms.  When markets were confident that the Biden administration was going to go ahead with the big $1.9 trillion stimulus, Dollar was ditched as inflation concerns support the precious metals complex. Now that the amount is uncertain, markets are repricing the Dollar and precious metal took a dip as we had expected on Monday with Silver. At this juncture, there is still a risk that the metal could dive further to test $26-$25.80/oz as the uncertainties remain. However, we expect the metal to rebound once the amount is confirmed in the medium term. Day trader may still short with $27.25 stop and $26.00 – $25.80 limit.

HORIZON STRATEGY SL TP1 TP2
Short-Term Buy Stop @ 27.10 26.20 27.75 28.50
Medium-Term Buy Limit @ 26-25.80 25.40 27.00 27.75
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.