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Stocks Under Selling Pressure

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STATE OF THE MARKETS

Stocks under selling pressure. US stocks were under selling pressure throughout Monday, despite closing in the green, after Fed’s comments of aggressive rate hikes to combat inflation. Dow (+0.26%), Nasdaq (+1.63%) and S&P (+0.57%), including Russell (+1.01%) climbed higher after being battered for the past five weeks. Fed’s comment sent yields higher with inversion and flat seen between 5Y (3.00%), 7Y (3.03%) and the 10Y (2.98%) and 30Y (3.03%). The Dollar index was stalled at the 103.50 minor handle.

In the commodities market, crude dipped to $99.50/bl on demand concerns, before bidders emerged and settled the black gold higher around $104.15/bl as New York closed. Higher yields continue to press gold lower to close around $1,862.65/oz while iron ore continues to fall lower to $144.00/tn as China lockdowns continue.

In the FX space, King Dollar retained the reign in medium and long term accounts while demand in the short term remained elevated. Overall sentiments turned more bearish as the safe-haven Yen are more in demand across the board.

On Tuesday, markets seemed more cautious as FOMC looms while look forward to seeing earning reports from Advanced Micro Devices (AMD), Starbucks (SBUX), Hilton (HLT), Prudential (PRU), Zebra Tech (ZBRA), Pfizer (PFE), Martin Marietta Materials (MLM) and Estee Lauder (EL) as well as the latest US factory orders, automobile sales and jobs opening.


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G8 CURRENCIES SENTIMENTS

ST AUD JPY USD CAD EUR GBP CHF NZD ST
MT USD AUD CAD GBP EUR JPY CHF NZD MT
LT USD CAD EUR CHF GBP AUD JPY NZD 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 46.64 – 4.87 160,719.4K 83,861.2K
RDBX 8.53 + 42.64 159,892.4K 5,495.4K
SPY 414.48 + 0.60 158,312.5K 106,386.5K
TQQQ 38.25 + 4.71 155,952.7K 114,910.4K
AAPL 157.96 + 0.20 123,055.2K 91,456.8K
UVXY 17.84 – 2.35 121,743.1K 79,805.9K
QQQ 318.48 + 1.67 115,511.7K 76,658.6K
XLF 34.52 + 0.03 104,408.8K 69,656.9K
AMD 89.84 + 5.05 98,304.0K 95,145.6K
T 19.12 + 1.38 67,551.5K 68,482.5K
** % Change here refer to price


WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 902.94 25,260.4K – 1.75 22,808.6M
AAPL 157.96 123,055.2K + 42.08 19,437.8M
AMZN 2,490.00 7,439.4K + 91.14 18,524.1M
NVDA 195.33 57,204.8K + 2.43 11,173.8M
FB 211.13 49,915.2K + 42.07 10,538.6M
MSFT 284.47 35,151.1K + 10.64 9,999.4M
AMD 89.84 98,304.0K + 15.28 8,831.6M
GOOGL 2,331.66 1,776.6K – 7.80 4,142.4M
GOOG 2,343.14 1,513.9K + 5.92 3,547.3M
XOM 86.41 36,335.2K + 38.87 3,139.7M
** % change here refers to volume


TOP 5 BLOCK ORDERS

SYMBOL PRICE TYPE R/VOL FUNDS FLOW $
NU 5.96 equities/options 156.17 91.3M
AAPL 157.96 equities/options 111.77 19,437.8M
NKLA 7.00 equities/options 75.81 146.1M
GC 1,853.60 gold futures 47,233 87.6M
BA 38,540 bitcoin futures 1,048 40.4M


OUR PICK – No New Pick

We decided to stay on the sideline. Given higher than usual volatility right now, we decided to stay on the sideline.

HORIZON STRATEGY SL TP1 TP2
Short-Term
Medium-Term
Long-Term

 

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.