HaiKhuu Daily Report 02/13/2024
Good morning, and happy Tuesday! We have major economic news during the pre-market session, and $SPY is trading below $500. This is going to be an interesting morning, and I hope you all are ready and excited for today. The markets will be very difficult to trade, but there will be opportunities that are consistently presented to us during this time. Let’s have some fun, and make the most out of these current opportunities, because there will be many that are presented to us in the meantime.
Good luck trading today, and let’s see what the markets do!
The updated $SPY daily levels are as follows:
Conversion Line Support: $493.65
Baseline Support: $485.90
Psychological Support: $500
Daily Cloud Support: $468.72
$SPY Daily Candles - [02/12/2024]
Thoughts & Comments Yesterday, 02/12/2024
Yesterday was an interesting time for the markets. We saw both some crazy bullish momentum and bearish momentum in the markets, and opportunities to capitalize on both sides of the markets. $SPY made a new all-time high in the process, yet many losses were generated. On an overall day, it was a relative wash and proved to be an extremely difficult day to trade. Hopefully, you all did well and were able to capitalize on the market momentum. Depending on what you were playing, it was a great time or an extremely difficult day. It just came down to your ability to navigate the markets, and capitalize on the opportunities available.
We started the day with $SPY opening black from the previous close on Friday, trading right at $501.20. Conditions looked relatively neutral for the first half hour of the day as market momentum was slow, with no major movement at all, but a little after 10 AM EST, momentum started to pick up as $SPY rallied to break above $503, making a new all-time high in the process, before starting to display weakness. We were not able to breakout above that resistance level, but $SPY did make the high of the day, and the new official all-time high trading at $503.50.
Conditions did remain neutral around that $503 point, only starting to pick up momentum towards the afternoon as $SPY did quickly go from trading above $503 to selling off extremely quickly, and within an hour, went from trading at the high of the day to making the official low of the day trading at $500.24. For the back half of the day, conditions were tough as there was really no good momentum or opportunity in the markets, where we ended the day with $SPY trading at $500.98, down $0.22 for the day, or down 0.04%, with an intraday bearish movement of -$0.22.
For an overall day, there was an opportunity to trade both sides, but it was just a matter of timing out your allocation, following the market momentum, and trading where there was opportunity. People who traded saw great opportunities to play either side, while people who simply held their allocations should have seen a relative wash in their portfolio. Regardless, life moves on despite us having a relatively tight day, with an intraday movement that couldn’t even buy a gumball. Let’s see what today has in store for us and have some fun!
Heatmap - $SPY 02/12/2024
Thoughts & Comments for Today, 02/13/2024
Today, as I said before will be an extremely interesting time for the markets with a significant amount of confusion. Most of the pre-market sentiment will come at 8:30 am EST when CPI data comes out, and the general market momentum will be derived directly from that news. Be careful attempting to fight that trend, and watch out for opportunities.
In the case that markets move up, look for opportunities to go long and follow the momentum. Look to exit your position when there are signs of a reversal towards the top, and look to play the downside. In the case the markets start falling, I would be even more cautious. I would not suggest attempting to short right at open, due to the market strength, but to simply sit on your hands and look out for an opportunity to go long at the bottom once there is a sign of reversal. Market conditions will be relatively strong, but it is just a matter of timing your allocations properly while actively scalping and trading. It’s easier to wait to be bullish in strong market conditions and capitalize on those opportunities, than being bearish and trying to find quick moments of weakness while conditions are strong. Lots of people will have a difficult time grasping this, and even fewer people will be able to execute this in real-time, but knowing when and how to capitalize on market conditions is going to be key to your success as a trader.
Just continue to be cautious in these market conditions. I am not confident in attempting to trade as $SPY has broken below its first level of major support. This could very easily be a fake out and we will watch as there is a general sentiment change, but at the same time, I would rather be cautious and watch some downside in the markets, versus over-allocating here at the top, and forcing allocations when I am not comfortable or confident at the moment in these conditions with $SPY testing $500, because we can easily break out, but realistically, are in a place where the markets can fall extremely quickly.
For my allocations, I am currently holding a couple of positions in my portfolio. I do not anticipate allocating into the markets today, but I will look for opportunities to trade and scalp in real-time. I will not be overly ambitious or attempt to force any positions I am not confident in, but I will be consistently looking for opportunities. The majority of my holdings are currently in cash, but I will be reallocated back into the markets soon once we see a general dip in the markets. Just wait for an opportunity to buy and hold, but capitalize on the short-term momentum in the markets via active scalping and day trading!
I’ll let you all know in real-time when I start entering in the HaiKhuu Discord.
HaiKhuu Proprietary Algorithm Report:
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, $CACI, $TSLA, $RIVN, $SMCI, $NVDA, $AMD, $AAPL, $MSFT
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $KO / $BA
Speculative Re-Entry - $DIS / $RIVN
Economic News for 02/13/2024
NFIB Small Business Optimism - 6:00 AM (ET)
Core CPI (YoY) - 8:30 AM (ET)
Core CPI Index - 8:30 AM (ET)
CPI Index - 8:30 AM (ET)
CPI (MoM) - 8:30 AM (ET)
Cleveland CPI (MoM) - 11:00 AM (ET)
API Weekly Crude Oil Stock -4:30 PM (ET)
Notable Earnings for 02/13/2024
Pre-Market Earnings:
Shopify (SHOP)
Coca-Cola Company (KO)
Datadog (DDOG)
Marriott International (MAR)
Biogen (BIIB)
InMode (INMD)
Hasbro (HAS)
Zoetis (ZTS)
Moody's Corporation (MCO)
Restaurant Brands International (QSR)
After-Market Earnings:
Upstart Holdings (UPST)
Airbnb (ABNB)
Robinhood Technologies (HOOD)
American International Group (AIG)
MGM Resorts International (MGM)
EQT Corporation (EQT)
Allison Transmission Holdings (ALSN)
Zillow Group (Z)
DaVita (DVA)
Wrap up
This should be an interesting time for the markets. Follow the momentum, do not fight any trends, and make sure to practice safe risk management, mostly with $SPY back below $500. This is going to be a confusing time for some, but extremely profitable for others. So trade and realize some gains while there is confidence here in the short term, and have a great time in the process. We all should realize gains today, so let’s have some fun and allocate accordingly!
Good luck trading, and let’s see what the markets have in store for us!