HaiKhuu Daily Report 01/26/2024

Good morning, and happy Friday! This week has flown by and has been a great time. Hope you all are doing well and are ready to end this week on a strong note! $SPY is down slightly at the time of writing this report, but that is insignificant as there is major economic news coming out during the pre-market session that ultimately will impact general market sentiment. Watch the market movement as that will direct the general market sentiment and momentum of the markets at open. Tread lightly on these conditions, and let’s end the week strong with some realized gains!

Good luck trading, and let’s see if $SPY makes a new all-time high or sells off today!

The updated $SPY daily levels are as follows:
Conversion Line Support: $479.32
Baseline Support: $477.60
Psychological Support: $480
Daily Cloud Support: $458.90

$SPY Daily Candles - [01/25/2024]

Thoughts & Comments from Yesterday, 01/25/2024

Yesterday was a relatively uneventful day for the markets. There were opportunities to trade in both directions, but many people had extreme difficulties, and losses were generated in the process. If you were able to remain profitable while navigating the markets, give yourself a pat on the back, because not many people were able to say they were profitable!

We started the day with $SPY looking great, opening up nicely above the previous close, opening at $487.52. Conditions were strong as markets opened and pushed early in the morning to break above $488, but watched as conditions worsened throughout the day. The markets started to come down after the lunchtime lull as volume picked up, and $SPY quickly went from trading around the high of the day to going on to make the official low of the day trading around 2 PM EST, trading at $485.41.

Thankfully, we did see some bullish momentum during the final hours of the trading day, as markets recovered all of the losses that were generated, and pumped nicely into close. We ended the day with $SPY trading at $488.03, up $2.64 from the previous close, or up approximately 0.5%, with an intraday bullish movement of $0.51.

It is interesting seeing that over the previous couple of trading days, we have seen some larger intraday movements, but at the same time, not see a large movement from open to close. We should see a large movement in the markets soon, but no one knows which direction we will go. So let’s see if $SPY makes a new all-time high soon, or starts to sell off and hit major support.

Heatmap - $SPY 01/25/2024

Thoughts & Comments for Today, 01/26/2024

Today is shaping up to be a better day for the markets. We had $INTC come down on earnings which does negatively impact the general sentiment of semiconductors, but conditions are looking better as $TSLA has moved up. This is going to be a genuinely confusing day for the markets that will impact people’s ability to consistently and confidently realize gains. Be careful and cautious while trading today, but take advantage of the opportunities.

There will be many opportunities to scalp, but it is more so just a matter of how comfortable you will be trading in these conditions. $SPY is still strong and we are testing all-time highs, but at the same time, we are displaying short-term weakness as a result of organizations starting to slowly slip. I would be extremely careful while attempting to trade and would advise remaining level-headed, humble, and not emotional while trading. Being emotional while trading will cause you to make irrational moves and overtrade in the process. This is not good, and will realistically increase both the potential for losses and losses in general. I wish that I could say that this has never happened to me, but yesterday I was overtrading $TSLA and I literally had to remove the trading controls from my account just so I would not re-enter into any positions. Losses thankfully were relatively minimal so no major harm was done, but this cannot be said for everyone who unfortunately gets in that circumstance.

Make sure to follow the general market momentum, and do not force an entry into any position that is not presenting itself. It is a lot easier to be confident in the markets by simply following a trend, than gambling and praying that you’ve found a bottom. Yes finding a bottom is nice and watching as market momentum presents you with a perfect play, but it is even nicer when you can simply allocate with the trend, kick your feet up, and relax in the process.

Look for opportunities to capitalize on the large bearish movements we’ve seen on many organizations over the previous couple of days, and consider collecting premium in the process.

For my allocations today, the one play I am extremely interested in getting into is selling 0-DTE CSPs on $INTC. They have come down heavily on earnings and put premium is going to be through the roof. I am comfortable and confident in selling these CSPs, but it is just a matter of how much premium is going to be available for the risk that I am comfortable holding. I will realistically leverage my account entering into this position and look to minimize the capital I have to actively scalp and day trade, but consistent low-risk gains are always better than active management with more risk 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:

Stats of Yesterday:

Total Positions Taken:

• 54 Positions

  • 34 Long

  • 20 Short

Largest Win:

• $ELV - Short

  • Took profit @ +2.9%

Largest Loss:

• $WBA - Short

  • Stopped out @ -1.69%

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, $RIVN, $LCID, $AMD, $NVDA, $INTC, $BA, $MSFT, $AAPL

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 01/26/2024

• PCE Price Index - 8:30 AM ET

• Consumer Spending MoM - 8:30 AM ET

• Personal Income MoM - 8:30 AM ET

• Real Personal Consumption MoM - 8:30 AM ET

• Pending Home Index - 10:00 AM ET

Notable Earnings for 01/26/2024

Pre-Market Earnings:

• American Express (AXP)

• Booz Allen Hamilton (BAH)

• Autoliv Inc. (ALV)

• Colgate-Palmolive (CL)

• First Citizens BancShares (FCNCA)

• Norfolk Southern Corporation (NSC)

• BankUnited (BKU)

• Badger Meter (BMI)

• Dime Community Bancshares (DCOM)

• First Hawaiian (FHB)

• Gentex (GNTX)

• Southside Bancshares (SBSI)

• South Plains Financial (SPFI)

• Stellar Bancorp (STEL)

Wrap up

This is going to be a fun way to end the week. Lots of earnings and economic news coming out during the pre-market session. Now we just have to follow the momentum and end the week strong! Be careful of these current market conditions and do not overtrade, but look to maximize the available opportunities and realize some gains! As always, practice risk management and tread lightly in these conditions!

Good luck trading, and let’s end this week strong!