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Stocks Hit New High Amid Stronger NFP

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STATE OF THE MARKETS

Stocks hit new high amid stronger NFP. Stronger than expected US employment figure released on Friday, kicked the markets opened by sending major indexes to a new all time high for Dow (+1.13%) and S&P500 (+1.44%), while Nasdaq (+1.67%) broke last month high. The US10Y yield edged lower, but still above 1.71%, after short sellers bought and took profit for the quarter.

Crude continued to be under selling pressure, closed below $58.80/bl, after traders were spooked with OPEC+ decision to hike production from May to July, instead of rolling over the quota. Gold was in the limbo, after some closed markets made the yellow metal finished with bearish indecision below $1,728.50/oz. A rising yields would certainly keep the metal under selling pressure and favor the Greenback.

In the FX space, King Dollar seemed to maintain its position with investors seen to seek short term safety in the safe-haven Swiss and Yen. Rebound in the high beta commodity currencies are more likely a repositioning as investors trimmed their USD shorts to the lowest in a year. The battles between Euro and Sterling continues.


G8 CURRENCIES SENTIMENTS

ST CHF AUD GBP CAD JPY NZD EUR USD ST
MT GBP CAD EUR NZD CHF USD AUD JPY MT
LT CAD GBP USD CHF AUD EUR JPY NZD 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
CEMI 5.64 + 60.23 264,914.2K 1,315.9K
XELB 2.98 + 54.40 129,139.1K 597.8K
SNDL 1.07 – 2.73 124,890.9K 500,859.3K
AMC 10.61 + 13.35 96,082.3K 129,031.6K
AAPL 125.90 + 2.36 88,651.1K 108,135.2K
SPY 406.36 + 1.44 91,684.8K 76,788.0K
ZOM 1.33 – 8.90 84,451.9K 144,789.9K
F 12.70 + 4.36 82,332.7K 75,464.6K
NIO 39.31 – 0.88 71,418.4K 124,305.1K
SQQQ 11.71 – 5.87 69,352.6K 79,477.3K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 691.05 41,842.7K + 6.82 28,915.4M
AAPL 125.90 88,651.1K – 17.58 11,161.2M
AMZN 3,226.73 3,334.8K + 3.74 10,760.5M
MSFT 249.07 36,910.6K + 18.41 9,193.3M
FB 308.91 28,237.0K + 30.73 8,722.7M
GOOGL 2,218.96 2,425.4K + 47.60 5,381.9M
GOOG 2,225.55 2,164.8K + 42.79 4,817.9M
NVDA 559.50 6,391.7K – 16.21 3,576.6M
BA 259.36 13,750.2K – 36.97 3,566.5M
BABA 225.30 14,962.1K – 10.07 3,370.9M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE/STRIKE TYPE VOL/OI FUNDS FLOW $
CCJ 18.33/25.00 stock options/call 84.99 128.9M
TSLA 691.05/695.00 stock options/put 72.95 28,915.4M
ORCL 74.16/72.00 stock options/put 71.07 1,854.8M
AMAT 143.05 – 175.00 stock options/call 60.09 2,056.7M
CL 57.25 – 58.31 crude oil futures 600 34.5M

OUR PICK – Crude Oil

Under selling pressure below $62.00/bl. OPEC+ decision to hike production output from May to July, spooked investors that were already pricing a production rollover. On top of that, renewed lockdowns in Europe and South Asia are dampening demand, though faster economic recovery in the US might buoyed the commodity. Any report of rising inventories would send price lower. Dealer is currently supporting the black gold, albeit on lower bid, amid the selling pressure. We favor sell on rally with $62.00/bl stop.

HORIZON STRATEGY SL TP1 TP2
Short-Term Sell @ 60.50/80 62.00 57.80 56.80
Medium-Term Sell @ 60.50/80 62.00 56.80 55.00
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.