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Stocks Rebound Further As Fear Subsides

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STATE OF THE MARKETS Stocks rebound further as fear subsides. US stocks continue to rebound on Monday after another sell-off on Friday as fear on Omicron variant eased and rising inflation concerns might delay Fed’s tapering. Dow (+1.87%), Nasdaq (+0.93%), and S&P (+1.17%) including Russell (+2.05%) rebounded further as yields and Dollar ticked higher. The 10Y benchmark reclaimed the 1.45% as the Dollar (DXY) edged up to 96.30 mark.

In the commodities market, crude continues to advance past $71/bl after reports showed that global lockdowns are less likely as Omicron is mild. Buyers continue to defend gold at $1,780/oz ahead of US CPI reading this Friday. Elsewhere iron ore continued its upward trajectory, settling at $103.70/tn as markets expect the US infrastructure project to start in 2022.

In the FX space, Aussie flipped to demand with Sterling, Yen and Dollar in the short term accounts as risk sentiments improved. Medium term traders turned more bearish as the Swiss took the lead in demand from Yen. Long term sentiments were little changed. On Tuesday, markets look for earnings reports from AutoZone (AZO), SentinelOne (S), Toll Brothers (TOL), Renesola (SOL) and Casey’s (CASY) as well as the latest US productivity and costs.


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G8 CURRENCIES SENTIMENTS

ST AUD GBP JPY USD CAD EUR NZD CHF ST
MT CHF USD EUR JPY CAD GBP NZD AUD MT
LT JPY USD CHF CAD EUR GBP 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
SQQQ 6.66 – 2.35 174,632.7K 107,944.6K
AAPL 165.32 + 2.15 107,382.8K 78,352.0K
LCID 44.86 – 5.10 103,817.1K 53,139.5K
SPY 458.79 + 1.18 98,799.5K 70,644.9K
F 19.22 + 0.42 88,060.5K 78,312.2K
ISIG 15.05 + 204.66 83,989.9K 33.2K
CCL 18.59 + 8.08 78,033.0K 33,203.0K
CFVI 12.70 + 6.72 76,382.1K 1,640.6K
TQQQ 153.59 + 2.34 76,121.4K 36,631.2K
AAL 17.93 + 7.88 73,930.5K 31,889.9K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 1,009.01 27,137.9K – 5.42 27,382.4M
NVDA 300.37 65,816.3K + 29.46 19,769.2M
AAPL 165.32 107,382.8K + 14.14 17,752.5M
AMZN 3,427.37 3,439.5K – 2.15 11,788.6M
MSFT 326.19 29,994.4K + 14.44 9,783.9M
AMD 139.06 66,703.2K + 1.90 9,275.7M
FB 317.87 21,736.0K + 4.73 6,909.2M
BABA 123.60 42,766.5K + 63.89 5,285.9M
MRNA 265.33 19,816.2K + 40.56 5,257.8M
LCID 44.86 103,817.1K – 0.13 4,657.2M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE TYPE R/VOL FUNDS FLOW $
ISIG 15.05 equities 1,885K 1,264.7M
ACET 13.57 equities 1,759K 658.6M
PJ 149.94 – 150.08 FX futures/GBPJPY 152 20.1M
ZF 121.08 US bonds futures 6.0K 72,648.0M
CL 67.70 – 70.04 crude oil futures 3.3K 227.5M

OUR PICK – GBP/JPY Riding the block orders. $20 million worth of block orders were noted for the Guppy in the futures market around the ¥150 handle that we intend to ride with, though BoE was a little iffy on the potential of a rate hike this month. We see short to medium term rebound as speculators turned optimist.

HORIZON STRATEGY SL TP1 TP2
Short-Term Buy 148.80 151.00 151.80
Medium-Term Buy 148.80 151.80 152.45
Long-Term Flat

  Risk Disclaimer: This article is for general information purpose only. It is not an investment advice or a solicitation to buy or sell any securities/oz. 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.