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As Markets Await Earnings Season

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STATE OF THE MARKETS

As markets await earnings season. US stocks traded lower on the week open, with Dow (-0.16%), S&P500 (-0.02%) and Nasdaq (-0.36%), all in flat trading range as players await the earnings seasons kick-off this Wednesday. Breadth was negative as volume decline across NASDAQ (-72%) and NYSE (-59%) with more declining than advancing counters. The US 10Y yields benchmark was relatively unchanged at 1.67% as demand seemed to pick-up.

Crude was lifted above the $59.60/bl after news hit the wires that another Houthi rebels attacked a Saudi’s oil facility in the Middle East. Demand concerns however, keep price under offers below $61.50/bl. Ticking up yields, has kept Gold under pressure below $1,745/oz mark, after Swiss markets saw a flux of Dollar orders as New York closed.

In the Fx space, risk tone seemed mildly off as the safe haven Swiss seized the helm of demand across the board, while Yen eased in demand. Demand for King Dollar appeared positive as the Dollar Index spot and futures held the 92 mark. The Comdolls remain on offers as investors are skittish before the earnings results come to light this Wednesday. Euro Sterling remain range bound, though short term accounts suggest a pullback.


G8 CURRENCIES SENTIMENTS

ST CHF GBP JPY EUR AUD NZD USD CAD ST
MT CHF EUR JPY USD CAD AUD NZD GBP MT
LT CHF USD EUR JPY CAD GBP AUD 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
NUAN 52.85 + 15.95 108,019.0K 3,130.9K
AAPL 131.24 – 1.32 91,420.0K 108,237.3K
SOS 5.02 – 4.38 78,954.9K 50,462.7K
ZOM 1.12 – 9.68 70,749.1K 145,761.3K
PLTR 23.34 – 2.91 68,620.8K 79,206.3K
AMD 78.58 – 5.05 62,098.8K 43,195.3K
CAN 13.14 – 29.62 60,359.3K 16,545.0K
EARS 4.30 – 0.23 56,137.3K 6,892.6K
BABA 244.01 + 9.27 57,500.3K 20,931.5K
VIAC 39.77 – 5.04 59,418.1K 28,824.3K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 701.98 29,135.6K – 12.08 20,452.6M
BABA 244.01 57,500.2K + 200.64 14,030.6M
NVDA 608.36 21,733.0K + 196.64 13,221.5M
AAPL 131.24 91,419.9K – 9.25 11,997.9M
AMZN 3,379.39 3,281.7K + 2.26 11,090.1M
MSFT 255.91 27,148.6K – 8.52 6,947.6M
NUAN 52.85 108,019.0K + 1,182.05 5,708.8M
AMD 78.58 62,098.8K + 49.42 4,879.7M
GOOG 2,254.79 1,565.8K + 6.68 3,530.6M
FB 311.54 10,881.9K – 48.53 3,390.1M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE/STRIKE TYPE VOL/OI FUNDS FLOW $
BCS 10.35/11.00 stock options/put 66.86 34.0M
SKLZ 15.87/15.00 stock options/put 63.27 253.6M
PLUG 29.68/3300 stock options/call 54.36 1,302.3M
INTC 65.40/60.50 stock options/put 53.09 3,352.8M
CL 58.76 – 60.60 crude oil futures 3,350 200.3M

OUR PICK – USD/CHF

Bullish divergence in order flows. We have noticed a bullish divergence in the order flows of Swiss futures since last Wednesday; suggesting the USD/CHF pair might find a bottom soon for another leg up. Spot rate at this point in writing is around 0.9340s with higher bids than offers. A bullish outlook on earnings season would kick Dollar back in demand against safe haven Swiss and Yen, while pushing Euro lower, in our view. As technical suggest a dip to the 50% fib channel is still possible, we would re-enter as long as the exchange rate closed above 0.9180 on the daily.

HORIZON STRATEGY SL TP1 TP2
Short-Term Buy 0.9200 0.9280 0.9320
Medium-Term Buy 0.9200 0.9320 0.9380
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.