HaiKhuu Daily Report 01/22/2024
Good morning, and happy Monday! Hope you all had an amazing weekend and are excited about these market conditions. $SPY has made an all-time high on Friday and is up nicely at the time of writing this report. We are trading nicely above the previous all-time high and it looks like we are going to be able to continue to move up.
We are seeing the channels within the daily support levels move up, but are becoming more narrow, so we will see momentum start to slow down in the near future, but conditions are strong now, so tread lightly in these market conditions and practice safe risk management, but maximize the opportunities that are available to you, and do not fight this trend. Many people are going to continue to realize a significant amount of gains, so let’s have a great time.
Good luck trading today, and let’s see what $SPY has in store for us!
The updated $SPY daily levels are as follows:
Conversion Line Support: $476.93
Baseline Support: $474.06
Psychological Support: $480
Daily Cloud Support: $453.78
$SPY Daily Candles - [01/19/2024]
Thoughts & Comments from Last Week
Last week was an amazing week for the markets as $SPY, $QQQ, and many other organizations hit new all-time highs, there was general strength everywhere and we continued to move up with relative ease. Tesla had a difficult week, but across the board, everyone should have had an amazing time. There were opportunities presented everywhere. Many traders realized a significant amount of gains, and our exclusive trading community generated at least a million dollars of realized gains trading together. It was an amazing week for the markets, with consistent opportunities, and we had a phenomenal time in the process. Congratulations to anyone who was able to capitalize on the general market momentum with us, and had a great time last week.
To start the week, it was a shortened week as we had Monday off for Martin Luther King Jr. Day, so there was no general market movement, but the sentiment was strong to start off the shortened week.
Tuesday was the first trading day of the week and was an extremely uneventful day. We opened the week with $SPY trading at $475.26, and remained within a relatively tight range throughout the day, $SPY made the official high of the day trading at $476.61, which realistically was not up significantly from the open price, and we made the official low of the day trading at $473.06, which again really was not that significant of a movement down. We did come down to test that daily conversion line support, but that movement down was relatively insignificant. We ended the day with $SPY trading at $474.93, meaning there was a $0.33 movement down on an intraday basis, which realistically was not any movement at all. There was a range that we could have capitalized on, but really the movement we say overall was relatively insignificant.
Wednesday was more fun to actively trade though. We did start the day with $SPY opening down, opening officially at $471.82, down $3 from the previous close, but we watched as there was a significant amount of selling in the markets to start the day. We were below the daily conversion line support, and we dropped significantly throughout the entire morning, and broke below the $470 support level for a split second, making the official low of the week trading at $469.87, and stop hunting many traders in the process. It was an extremely difficult time to trade until we made the official low of the day, but it did provide us with what was the best load-up opportunity throughout the entire week. $SPY quickly pushed back up after stopping many traders out below $470, and we quickly pushed to make the official high of the day trading at $472.79, before ultimately coming down slightly into close, ending the day trading at $472.29. We ended Wednesday down from the previous close but had a significant bullish movement on an intraday basis from the bottom that we could have easily capitalized on, and many traders were able to do so in the process.
Thursday was another great day for the markets as there was a significant amount of general bullish momentum, and riding the momentum throughout the day would have provided us all with an extremely easy day to realize a significant amount of gains. We started the day with $SPY trading at $474.01, up from the previous close, and quickly dipped to make the official low of the day trading at $472.42 before rallying throughout the entire afternoon as $SPY bounced off of the daily conversion line support, and went on to make the official high of the day trading at $477.06. We did watch as $SPY sold off slightly leading into close, where we ended the day trading at $476.49, but it was an amazing time as $SPY moved up $4 from the previous close and continued to display significant strength that we all could have very easily capitalized on.
And Friday…. That is what you all care about. New 52-week highs were made, $SMCI pushed up $112 in the process, and many people were able to realize almost an ungodly amount of gains in the process. General sentiment was amazing leading into the day, and it was genuinely one of the craziest trading days I’ve seen in my entire trading career.
We started the day normally with a little bit of strength during the pre-market session as $SPY opened the day trading at $477.70. Conditions were strong, but $SPY did drop at open to make the official low of the day at $476.94, down slightly, but still green for the day, and displayed significant strength in the process. We watched as $SPY continued to hover around the open price for the first hour of the day. There was not much strength, but there was not much weakness being displayed at the same time. But leading into the lunchtime lull as volume was relatively low, conditions continued to strengthen as $SPY was moving up, and people were actively purchasing in the process. The markets quickly started to move up during the lunchtime lull, as $SPY went green on an intraday basis and continued to move up throughout the entirety of the lull, and as volume started to come back into the markets after the lull when we started to go into a massive buying frenzy. Conditions were looking extremely strong as $SPY continued to move up accordingly, and at 1 PM EST, we were trading at a new 52-week high on $SPY and were within cents of breaking through to make the official all-time high. Markets were looking extremely strong and before we knew it, $SPY broke above the $480 resistance level and was able to make a new all-time high. We did not reject after making the new all-time high as buying momentum continued to increase, as $SPY continued to push up throughout the entirety of the afternoon, and we were in a euphoric state. $SPY pushed into close, finally slowing down around power hour, but conditions were amazing as we made the new official all-time high, with $SPY trading at $482.71. We ended the week with $SPY coming down slightly, ending the week at $482.43, but the drop-down was irrelevant as $SPY was at an all-time high. We ended Friday up approximately $6 from the previous close, and many people were able to realize a significant amount of gains in the process. It was an amazing time and saw some genuinely face-ripping momentum that we could have all very easily capitalized on.
Overall, it was an amazing week for the markets as $SPY moved up approximately $11 and made an all-time high in the process. We all could have very easily realized a significant amount of gains, and many people were able to do that with ease. I hope you all had an amazing time trading last week and were able to capitalize on the insane market conditions. Let’s see what the markets have in store for us this week, and let’s see some continued bullish momentum in the markets as we inch closer and closer to $SPY $500.
Heatmap - $SPY 01/19/2024
Thoughts & Comments for Today, 01/22/2024
Today is shaping up to be another amazing day for the markets. At the time of writing this report, $SPY is up nicely from close on Friday and is displaying a significant amount of strength in the process. We can easily move up on an intraday basis and as a result, should continually make new all-time highs. I will warn you all that this is not the time to be overly bearish, but I do believe in the near future that we will see a time for the bearish traders to get their time to shine, but for now, conditions are strong. Conditions will not remain strong forever, but the good times are here, so do what you can to maximize the opportunities that are available to you in these market conditions, and have a great time in the process.
The best way to continue to capitalize on these market conditions is done in multiple ways. The easiest way will be to just hold strong positions within your portfolio, and let them move up accordingly over time. I will say that it is extremely difficult attempting to allocate long into the markets, mostly as we have moved up significantly over the previous couple of months and many equities are heavily overpriced at this point, but thankfully, there are still ways to capitalize on the general market momentum without increasing your exposure heavily.
If you are attempting to allocate into the markets, look for value opportunities. Many organizations are heavily undervalued right now for whatever reason, and these organizations will present you with some amazing opportunities to allocate long into the markets, assuming you are able to take on some short-term risk in the process. Two of these organizations in my opinion are $BA and $RIVN. They are underpriced at the moment due to operational issues that are negatively impacting the organizations in the short term, which realistically with time will be solved. There is risk involved with attempting to allocate here as there is no definite timeline for when these organizations are going to start to move up, but once they start to move up and display signs of a reversal, will be an amazing time to simply hold and watch as these positions move up accordingly. Watch out for an opportunity to purchase leaps on both organizations, but as I always say, make sure to practice safe risk management if you are doing so.
Another way to capitalize on the markets, and attempt to limit downside risk and general exposure, is by actively trading the market momentum. You either can attempt to day trade or scalp the general market momentum, you are taking on short-term risk in the markets but will be instantly gratified in the case that the position works out. For these positions, I would suggest taking on more risk by entering into higher-beta positions to see a significant increase in returns while watching them play out but limiting your downside risk by only entering at major support levels where we are starting to see a confirmation of a reversal while setting a stop under support. In the case we see a breakout, we will do great as you will be able to ride the general momentum with ease, and in the case, we move down, you will be able to limit your risk as if we see a breakdown below support, you will be out and have your exposure cut. Yes, you may get stopped out of a position that would have ultimately generated a significant amount of gains, but at the same time, in the case that you don’t stop out, statistically you would generate more losses than gains you would have incurred. Just find another position that is looking optimal, and make smart decisions in the process.
For my allocations today, honestly, at the time of writing this report, I do not know how much I want to actively attempt to trade this momentum. I currently have many allocations that I am holding long in these market conditions that are doing phenomenally, but I still do want to capitalize on this momentum in the markets. I will be looking for opportunities to allocate long into the markets, and the two positions I have been eyeing out are $RIVN and $TSLA. I will be looking to actively scalp $TSLA in the short term when there is short-term confidence that I can capitalize on, and I am looking to start a long-term position in $RIVN and will be looking to get leaps as $RIVN is starting to get within the range that I am extremely comfortable and confident in entering into. My price target for entry on $RIVN has remained within the $13-15 range, and we are at the upper end of that range at the moment, so I plan to slowly scale into that equity and hold it accordingly. If you have any questions on why I am so bullish on $RIVN over a larger scale, please feel free to reach out to me and I would be more than happy to explain my reasoning.
Just continue to be smart and safe. Practice risk management in these market conditions, but continue to ride the momentum as we are all going to be in for a ride of a lifetime.
If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.
HaiKhuu Proprietary Algorithm Report:
Last week we officially moved to our newest algorithmic system and will be working on updating this portion of the report to include general statistics of the performance of the algorithm and showcase a couple of the trades that were made the previous trading day. We are in the process of upgrading the way we report on the performance, so be on the lookout and watch in the Exclusive Room on Discord to see these alerts appear in real time! I just want to say thank you again to everyone who has been watching and waiting for being patient while we are actively upgrading and testing different systems!
Link to check out Asher’s Weekly Report & Algorithm Updates
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, $NVDA, $SMCI, $AAPL, $MSFT, $BA, $RIVN, $TSLA
Position Opportunities:
Follow market momentum
Take profit on positions
Limit your downside risk
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $KO / $WMT/ $BA
Speculative Re-Entry - $DIS / $RIVN
Economic News for 01/22/2024
Leading Index Change MoM - 10:00 AM ET
6-Month Bill Auction - 11:30 AM ET
3-Month Bill Auction - 11:30 AM ET
Notable Earnings for 01/22/2024
Pre-Market Earnings:
Bank of Hawaii
After-Market Earnings:
United Airlines (UAL)
AGNC Investment Corp (AGNC)
Logitech International (LOGI)
Agilysys (AGYS)
Brown & Brown (BRO)
Zion Bancorporation (ZION)
Independent Bank Group (IBTX)
Great Southern Bancorp (GSBC)
Enterprise Financial Services (EFSC)
Wrap up
This is going to be an extremely fun day for the markets. We should realistically see new all-time highs on $SPY, so follow the general market momentum and have a great time in the process. Make sure to practice risk management, and maximize the opportunities that are available to us. Be smart, be safe, and realize a significant amount of gains. Many people are going to have an amazing time trading today, and there is no reason why you shouldn’t.
Good luck trading, and let’s see a continuation of this momentum and a new ALL TIME HIGH on $SPY