Daily Trading Report — HaiKhuu Trading

Good morning, and happy Wednesday! Markets are up slightly at the time of writing this report, and $SPY is continuing to display strength above the daily conversion line. This is a great sign for the markets and I hope you all are enjoying this general market momentum. These market conditions have been extremely confusing and difficult to navigate, but it has been providing us with consistent opportunities to realize gains. Continue to capitalize on the strength in these market conditions, and do what you can to maximize your profit potential. This should be another beautiful day for the markets and there is a high likelihood we see another breakout across the board, so follow the general market momentum, realize some gains, and maximize the opportunities that are available to us.

We are all going to have an amazing time trading, so let’s see where the markets take us, and have a great time in the process.

Good luck trading today, and let’s what $SPY does today.

The updated $SPY daily levels are as follows:
Conversion Line Support: $417.99
Baseline Support: $465.93
Strong Psychological Support: $470
Daily Cloud Support: $444.76

Thoughts & Comments from Yesterday, 01/09/2024

Yesterday was a confusing day for the markets with some bullish momentum that was easy to capitalize on from open. We watched as $NVDA hit a new all-time high, and watched as confusion impacted people’s ability to navigate these market conditions with confidence. We remained in greed on the fear and greed index and watched as the markets displayed general confidence and strength, with specific organizations trending more than others. $TSLA and $BA had a tough day overall, and there were mixed results in the markets, as many semiconductors were green, but $MU and $INTC were red. It was a fun day for the markets with many opportunities being presented to us.

We started the day displaying a significant amount of weakness in the markets with $SPY opening down almost three dollars from the previous close, opening at $471.88. There was weakness in the markets, but it did provide us with an amazing opportunity to allocate long in the markets. We did display weakness as open, as $SPY was confused and dropped to make the official low of the day trading at $471.36, but were able to recover nicely afterward, and displayed confidence in the process.

The markets rallied after making the official low of the day, and continued to push up for the majority of the morning, slowing down slightly leading into the lunchtime lull, but continued to display general strength in the process. $SPY was able to remain green on an intraday basis during the lull and moved up accordingly throughout the session. As volume started to pick up as people were coming back from lunch, we watched as there was an overwhelming amount of purchasing as $SPY continued to move up, displaying significant strength in the process. $SPY got to $474, and retained that level for multiple hours, watching as there was a quick breakout to make the official high of the day trading at $474.92, officially going green for the day for a brief moment. After making the high, we watched as $SPY came back down, to make a relative low trading right above $473. This was an interesting movement we saw in a short period and provided us with a great opportunity to purchase a dip in the general markets.

The back half of the day was uneventful as $SPY did come down slightly, there was no solid momentum or opportunity, but we did see a slight dip leading into power hour. The dip itself was not that significant as we are talking fractions of a percent move on $SPY, but regardless it was enough of a movement to impact the sentiment in the markets, as $SPY did dip again into close, going from $474 to dropping approximately $1 in the process. The drop was honestly irrelevant, and $SPY recovered the majority of the losses by close.

We ended the day with $SPY trading at $473. 88, down $0.72 from the previous close, or down approximately 0.15%, with an intraday bullish movement of approximately 0.40%. It was a confusing day for the markets with some bullish momentum that you could have capitalized on, but it was just a matter of finding the right allocations and capitalizing on the general market movement and momentum at that time.

It definitely was an interesting intraday movement for the markets and hopefully, you all were able to realize a significant amount of gains in the process and had a great time.

Thoughts & Comments for Today, 01/10/2024

Today should be another fun day for the markets. $SPY is continuing to display strength across the board and we are seeing opportunities pop up to allocate into different organizations to realize gains with relative confidence. The one thing I would warn you about in these market conditions is to watch out for chop. With the markets looking as strong as they are, and the short-term confidence in the markets, I believe that there are going to be choppy market conditions that will make trading difficult today. I believe that many traders are going to have a lot of difficulty allocating into the markets with confidence, so if you are not confident in a position, be passive and sit on your hands. It is a lot better to miss out on an opportunity than to force an allocation and generate losses in the process.

One thing that I would advise right now is to be extremely careful if you are attempting to actively scalp in these market conditions. Make sure not to have an extremely tight stop, because if market conditions are going to be choppy, you might be right on your position, but ultimately get chopped and stopped out of your position. If you are attempting to scalp today, be selective on where you put your stops, and only put stops under major support levels.

This in my opinion is going to be one of those days where if you try and trade the momentum, hold your position for a longer timeframe, and attempt to day trade. Many traders will be able to realize quick gains with ease, but I believe that this is going to be an extremely momentum-based day for the markets, and allocating accordingly and holding positions for a longer timeframe today, will be able to assist you in generating more gains in the process.

If you are attempting to allocate long into the markets, one thing to just remember is that there are many highly overvalued organizations that will be difficult to allocate into with confidence, but there will be many organizations that realistically will continue to trend that are undervalued. Two organizations I am waiting to allocate long into at this moment are $TSLA and $BA. I think that realistically $TSLA does have some room to move up, and can realistically get back above $250 in an extremely short period of time, but it is just a matter of catching a reversal. With Boeing, I am waiting until all of the dust has settled before allocating long. Realistically I do believe that $BA is undervalued right now, but that does not mean that there will not be more opportunities for them to fall as more news comes out about their safety, and the inspections going on. I would love to allocate into $BA in the $180-200 range, but again, do not think that realistically they will get down that low. I will be waiting until $BA has found some support on a larger timeframe and is showing signs of a reversal prior to entering. Current BA support on the daily is at $216, and realistically can very easily get down to that number in the case that there is news about more general safety issues coming up as inspections on these planes continue. So be careful if you are attempting to allocate into $BA at this time.

For my allocations for the day, as usual, I do not know how much I am planning during this pre-market session, but I will say as a result of these current market conditions, I am a little bit more skeptical about how I plan on allocating into the markets, and I am cautious on wanting to actively scalp. I do believe there will be many opportunities to scalp in these conditions, but I do not have the confidence in these market conditions for me to be able to efficiently scalp and realize gains in the process. I am interested in allocating into $TSLA long in these market conditions to ride the general market momentum, and it is genuinely a play that does interest me. $TSLA is trading right above the daily cloud support and is displaying signs that it has found a relative bottom here. This might be the day that I enter into $TSLA long and hold that equity for a short period of time, with a relatively tighter stop under the daily cloud support. This is a riskier more speculative play in a higher beta position, but with the way the play is working out, there is a substantial upside potential for this position in the case we breakout with confidence in these market conditions.

Just make sure to practice safe risk management trading today, and let’s realize some gains!

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

HaiKhuu Proprietary Algorithm Report:

Yesterday was a day of mixed results from the algorithm’s standpoint. $SPY did well, and the long-term portfolio was able to outperform the markets by a large margin which is a great sign, but the base algorithm underperformed by a large margin in comparison to the base portfolio it was built on. This does not provide the best sentiment, but thankfully it was not large enough to lose confidence in the system as one day of underperformance is not indicative of a failing system. We will continue to watch the performance over the week and see what happens with these results in a larger timeframe.

The results of yesterday are as follows:

Baseline:

$SPY: +0.43%

Our Results:

Variable Sector Neutral: +0.58%
Long Term Portfolio: +0.57%
Sector Neutral: +0.3%
Base Algorithm: +0.17%
Variable Market Neutral: -0.03%
Market Neutral: -0.12%

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, $BA, $TSLA, $NVDA, $AMD, $SOFI, $BABA, $AAPL, $SNAP

Position Opportunities:

Follow the market momentum
Take profit on positions
Limit your downside risk

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 01/10/2024

Wholesale Inventories - 10:00 AM ET
New York Fed President John Williams speaks - 3:15 PM ET

Notable Earnings for 01/10/2024

Pre-Market Earnings:

None Scheduled

After-Market Earnings:

KB Home (KBH)
Richardson Electronics (RELL)

Wrap up

This will be another fun day for the markets, so look to maximize the potential for profits and realize as many gains as possible. There is strength and confidence in the markets at the moment, so watch out for the opportunities that are presented to us, and capitalize on them. Do not get greedy trading, and look to realize gains throughout the day. Protect your bottom line and make sure to practice safe risk management.

Good luck trading, and let’s watch $SPY rally today!

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HaiKhuu Daily Report 01/10/2024