HaiKhuu Daily Report 01/30/2024
Good morning, and happy Tuesday! $SPY is continuing to push as we have made a NEW all-time high and is looking exceptionally strong. I hope you all are realizing a significant amount of gains at this moment as both traders and the markets remain extremely confident. We are currently in a state of euphoria, so tread lightly as $SPY is continuing to edge closer and closer to $500. We are in extreme greed on the fear and greed index, so capitalize on the opportunities that are available to us, but understand the risks that are involved with allocating here. We have Jerome Powell speaking tomorrow as well as the FOMC’s decision on the interest rates, so expect lower volume and volatility in the markets today as people are preparing for tomorrow.
This is going to be a lot of fun today, so maximize the opportunities available, but practice safe risk management!
Good luck trading today, and let’s see another ALL-TIME HIGH on $SPY!
The updated $SPY daily levels are as follows:
Conversion Line Support: $481.92
Baseline Support: $478.92
Psychological Support: $480
Daily Cloud Support: $463.77
$SPY Daily Candles - [01/29/2024]
Thoughts & Comments from Yesterday, 01/29/2024
Yesterday was one of the craziest days I’ve seen in the markets for a while. There was a significant amount of bullish momentum that could have been easily capitalized on and $SPY made a new all-time high in the process. We watched as organizations did phenomenally, and I know for a fact that many traders were able to realize a significant amount of gains in the process.
We started the day with $SPY opening at $487.68, up slightly from the previous close on Friday, and general momentum was relatively slow for the first half of the day. We watched as $SPY slowly trended down leading into the lunchtime lull, and went on to make the official low of the day trading at $487.17. Conditions were not optimal in the morning but did start to heat up in the afternoon.
Markets continually pushed as volume started to pick up in the afternoon and displayed strength in the process. General markets quickly went green on an intraday basis and continued to push throughout the early afternoon, making new highs of the day, and providing many traders with an amazing opportunity to realize a significant amount of gains in the process.
Power hour is when the markets started to go crazy, conditions were strong as we were continually making new highs of the day, and we watched as everything broke out, and $SPY exploded, continually making new all-time highs, and displaying consistent confidence in the process. $SPY went on to make the official high of the day and an all-time high trading at $491.41. Many traders realized a significant amount of gains on the way up, and everyone had a great time in the process… unless you were bearish.
We ended the day with $SPY trading at $491.27, up $3.86 for the day, or up approximately 0.8%, with an intraday bullish movement of $3.73. It was genuinely a phenomenal day for the markets with many opportunities to trade in the process. This has been one of the best trading days I’ve had in 2024, and I hope you all were able to realize significant gains in the process with us!
Heatmap - $SPY 01/29/2024
Thoughts & Comments for Today, 01/30/2024
Today should be a lot of fun for the markets with the general strength going into open and the confidence that is in the markets right now! At the time of writing this report, $SMCI is up 10% on earnings which is going to bring confidence into other semiconductors like $AMD and $NVDA, and realistically could be a catalyst for the markets to continue to move up. As I said before though, tread lightly on these market conditions because I believe that today will be a great day, but will be choppy and difficult to navigate in real-time. We have the FOMC’s decision on the interest rates coming out tomorrow, so people will be less inclined to attempt to purchase and trade today. Expect to see lower volume in the markets and expect to see less volatility.
Lower volatility and lower volume are great for the people who are actively holding equities with zero anticipation of selling anytime soon as it will be a relatively less stressful day for the markets, but despite that, it is going to be difficult for people who are attempting to scalp and trade in the markets. If you are attempting to scalp, look to simply follow the momentum. Many traders are going to have a tough time realizing gains because they will try to play organizations that they are comfortable trading, but the issue is those organizations won’t have the momentum necessary to realize any sort of significant gains. If you are trading, look out for the organizations that are actively trending, and look to simply follow the trend. Do not attempt to perfectly time out the bottom, do not attempt to predict the next stock that is going to finally break out. Keep it simple. Find an organization that is trending, allocate to it with confidence, and ride the momentum. Set a stop to limit your downside risk, and continually adjust it while the position is live to secure more profits in the process.
This is not the time to be overly ambitious or look to take on a significant amount of risk. We can easily continue to move up in the markets with the strength we are displaying right now, but it is just a matter of being both comfortable and confident both in your allocations, as well as how you are handling these conditions. Many people will have an amazing time trading today, but many more will realize losses, so just be smart and safe in these market conditions, and do what you can to maximize your returns.
For my allocations today, I honestly do not anticipate allocating too heavily into the markets, I had an amazing day yesterday and I am not confident in these conditions. I plan on riding many of the organizations that I have been holding, and I do not feel the need to be overly aggressive on a day that I am not the most comfortable attempting to trade. If I see an opportunity that is available, I will attempt to scalp it, but I will be looking heavily into reallocating the capital that I have recently freed up and will let you all know in the HaiKhuu Discord once I ultimately decide on what position I want to take. I am not expecting a significant amount of trades or allocations today, but if an opportunity presents itself, I’ll look to take advantage of it and let you all know what I see!
HaiKhuu Proprietary Algorithm Report:
Stats of Yesterday:
Total Positions Taken:
53 Positions
32 Long
21 Short
Largest Win:
$AWK - Long
Took profit @ +1.13%
Largest Loss:
$CTLT - Long
Stopped out @ -1.17%
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, $RIVN, $SHAK, $SMCI, $NVDA, $AMD, $MSFT
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $KO / $WMT/ $BA
Speculative Re-Entry - $DIS / $RIVN
Economic News for 01/30/2024
S&P Case-Shiller Home Price Index - 9:00 AM ET
JOLTS Job Openings - 9:00 AM ET
Consumer Confidence - 10:00 AM ET
Notable Earnings for 01/30/2024
Pre-Market Earnings:
Pfizer (PFE)
General Motors (GM)
United Parcel Service (UPS)
Jet Blue (JBLU)
Marathon Petroleum (MPC)
MSCI (MSCI)
SYSCO (SYY)
HCA Healthcare (HCA)
Oshkosh (OSK)
Danaher (DHR)
After-Market Earnings:
Advanced Micro Devices (AMD)
Microsoft (MSFT)
Alphabet (GOOGL)
Starbucks (SBUX)
Juniper (JNPR)
Skyworks (SWKS)
Match Group (MTCH)
Electronic Arts (EA)
Mondelez (MDLZ)
Stryker (SYK)
Wrap up
This should be a fun day for the markets with a high likelihood of making a new all-time high. Tread lightly, don’t be overly aggressive, and capitalize on any opportunity that is presented to you. Many people are going to be able to realize a significant amount of gains with relative ease today, so enjoy the ride, and maximize the amount of gains you are able to generate today. Do not forget we have the FOMC’s decision on the interest rate tomorrow, and that Jerome Powell is speaking. So practice risk management, and have some fun trading today!
Good luck trading, and let’s see a new all-time high!