HaiKhuu Daily Trading Report

Good morning, and happy Thursday! I hope all of you are doing well because this has been an extremely interesting way to start this year. $SPY has been coming down and has been displaying signs of weakness but is back up slightly at the time of writing this report. It would be interesting to see some general bullish momentum as we are between the daily conversion line and baseline support on $SPY. Watch out for $470 because in the case we are able to retain that level and have some bullish momentum, this could provide us all with some interesting opportunities to not only trade but realize some gains.

Continue to practice safe risk management at this time and do what you can to maximize your potential for profit because I believe that many traders are going to have a great time attempting to trade, and many more are going to realize gains with ease.

Good luck trading today, and let’s watch as $SPY breaks out.

The updated $SPY daily levels are as follows:
Conversion Line Resistance: $472.86
Baseline Support: $465.45
Strong Psychological Support/Resistance: $470
Daily Cloud Support: $442.02

Thoughts & Comments from Yesterday, 01/03/2024

Yesterday was an extremely interesting day for the markets. There was a significant amount of chop that made trading extremely difficult and inconsistent but provided us with many opportunities to trade throughout the day. Many traders had a difficult time as a result of ongoing market conditions, but many people were able to realize gains with relative ease.

We started the day with $SPY opening the day down $2 from the previous close, opening officially at $470.50. $SPY was looking extremely inconsistent at that time as markets were trending down, but it provided us with scalping opportunities early in the morning. It was difficult catching those plays in real time, but at least it provided us with an opportunity to trade.

After the first hour of the day, $SPY did sell off and break below the $470 support level, making it extremely difficult to allocate into the markets with confidence, and we made a relative low trading right below $469, but going into the lunchtime lull, that was an interesting and great opportunity to scalp with some bullish momentum.

During the lunchtime lull, market conditions retained their level, hovering under $470, and dipped as volume started to come back into the markets after the lull, making a low testing $469 again.

Thankfully, in the afternoon, we started to see some bullish momentum come back into the markets as people were anticipating the release of the FOMC minutes, resulting in the markets moving back above $470 and retaining that level for the large majority of the day.

As the minutes were released at 2PM EST, markets initially displayed weakness and confusion as the markets came down slightly before moving up with confidence and making the official high of the day trading at $471.17. Conditions were not ideal, as we were still significantly red for the day, but at least it provided us with an opportunity to capitalize on some bullish momentum.

After making the official high of the day, there was a significant amount of weakness in the markets, with the markets continually selling off into the end of the day. We watched as $SPY made the official low of the day five minutes before close, trading at $468.17, and recovered ever so slightly into close.

We ended the day with $SPY trading at $468.79, down $3.86 for the day, or down approximately 0.82%, with an intraday bearish movement of -0.35%.

As I said before, it was an interesting day for the markets that displayed a significant amount of difficulty navigating, but there were many great opportunities to trade within the day.

Just want to shout out Louis again. Despite not being an active scalper or day trader, he was able to call out a perfect short on $MSOS, where I was able to realize 3% in a matter of minutes after an initial movement up, making it the best trade I’ve made in 2024.

Let’s see what the markets have in store for us today, we could see some bullish momentum come back into the markets after a couple days of difficulties, so let’s see what the markets have in store for us and prepare accordingly!

Thoughts & Comments for Today, 01/04/2024

Today should be another very interesting day for the markets. With the sentiment in the markets right now, there is a lot of strength being displayed and people want to be bullish and optimistic. The previous couple of days have been tough for the markets, but thankfully, we are seeing strength during the pre-market session, where I believe if we are able to break and hold above $470 today, there is a possibility of us pushing up towards the daily conversion line resistance. In the case that we break above the mentioned resistance level ($472.86), That is a bullish sign for the markets and will be an interesting time to capitalize on the opportunity.

The one thing I want to warn you all about right now is semiconductors. They are displaying a significant amount of weakness during the pre-market session, and in the case we continue to see weakness, they may be the leading indicator for the general direction of the markets and make it difficult for $SPY to move up accordingly.

Just continue to tread lightly on these market conditions, but do what you can to maximize your profit potential. Assuming that $SPY is able to move up, there are going to be many great opportunities to trade throughout the day.

If you are attempting to trade in these market conditions, just make sure to practice safe risk management. I believe that there will be many phenomenal day trade and scalp opportunities that are presented to us, but it is just a matter of capitalizing on those opportunities and realizing gains in the process.

Simply follow the momentum in the markets and do not fight the trend. This is a point of confusion in the markets, where realistically, we can easily move $3 in either direction on $SPY, either breaking back up to the conversion line resistance or breaking down to test the baseline support on the daily.

As I have been saying, don’t be overly bullish or bearish in these market conditions, but just remember that we’ve had some insane bullish momentum over the previous couple of weeks, and we are starting to see the first signs of weakness in the markets. Just look out for opportunities to hedge your positions and take profit while you can, as the markets are still strong, but at the same time, prepare accordingly for the downside.

In the case $SPY breaks below $465.45 and is able to retain that level, that will be the official confirmation of a reversal; breaking below that support on the daily will be the time to be bearish.

For my personal allocations today, I have the same general sentiment that I have had over the previous couple of days. I believe there will be many opportunities to trade and scalp in these market conditions, but it is just a matter of realizing gains in the process and being smart about my allocations. I want to enter into day trades and be bullish on the markets, but I will simply follow the momentum and direction in the markets. Ideally, we do break above $470 and display a significant amount of strength in the process, but I am cautious due to the weakness that has been displayed since the beginning of 2024.

Just continue to be smart and practice safe risk management in these market conditions. Lots of traders are going to have a lot of difficulties, and many more traders are going to be able to realize gains by making some solid allocations.

Realize some gains while trading today, and have a great time in the process!

If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.

HaiKhuu Proprietary Algorithm Report:

Yesterday was an alright day for the systems. $SPY had an extremely tough day on an intraday basis, and as a result, it underperformed significantly in comparison to what we’ve seen over the previous couple of months. I am glad to see that despite the weakness that was in the markets, that the long term portfolio was able to outperform the markets, and that the base algorithm was able to outperform $SPY. It was a tough day for the markets, but I am glad our systems were able to outperform.

The results of yesterday are as follows:

Baseline:

$SPY: -0.35%

Our Results:

Market Neutral: +0.17%
Sector Neutral: +0.15%
Variable Market Neutral: +0.07%
Variable Sector Neutral: -0.03%
Base Algorithm: -0.06%
Long Term Portfolio: -0.23%

DISCLAIMER - This is not financial advice. Utilize these trades with caution. These predictions are generated via our proprietary trading algorithm without taking into account market conditions, news, or any external biases. This is not a signal to buy or sell any equities, and we do not guarantee success. Take these at your own risk.

My Personal Watchlist:

Note, just because something is on my watchlist does not mean it is a signal to buy or sell any equities

Watchlist:
$SPY, $TSLA, $NVDA, $AMD, $BABA, $X, $RIVN, $WMT, $SOFI

Position Opportunities:

Trade the market momentum
Take profit on positions
Limit your downside risk
Hedge your positions
Consider getting bearish exposure

LONG OPPORTUNITIES:

Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $KO / $WMT
Long-Term Auto Sector - $F
Speculative Re-Entry - $DIS / $RIVN

Economic News for 01/04/2024

ADP Employment - 8:15 AM ET
Jobless Claims - 8:30 AM ET
S&P Services PMI - 9:45 AM ET

Notable Earnings for 01/04/2024

Pre-Market Earnings:

Walgreens (WBA)
Lamb Weston Holdings (LW)
RPM International (RPM)
Conagra Brands (CAG)
Lindsay Manufacturing (LNN)
Simply Good Foods (SMPL)

After-Market Earnings:

Franklin Covey (FC)
Kura Sushi (KRUS)

Wrap up

This should be an extremely interesting day for the markets. There is an extremely high likelihood that the markets will push today, so look to capitalize on the opportunities that are currently available in these market conditions and do what you can to maximize the opportunities that are available. Practice safe risk management, but take advantage of the short-term confidence that is in the markets right now.

Good luck trading, and let’s watch $SPY break out!

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HaiKhuu Daily Report 01/04/2024