HaiKhuu Daily Report 02/14/2024

Good morning, and happy Valentine’s Day! Markets are looking stronger, being up nicely from the previous close. Conditions are extremely confusing today, and we are either going to watch as the markets continue to sell off today or all of the losses of the previous day get bought back up, we fill the gap and watch as $SPY rallies after scaring many traders. I’ve said this before, and I’ll say this again, one bearish day in the markets as $SPY drops 1-2% is not the beginning of the end, nor is a sign of reversal, but will cause many inexperienced traders to fear and panic sell their positions before the markets moving back up. 

Tread lightly on these market conditions, follow the momentum of the markets, practice risk management, and capitalize on this short-term fear while market conditions are still extremely strong. 

Good luck trading, and let’s realize some gains today! 

The updated $SPY daily levels are as follows:
Conversion Line Support/Resistance: $496.40
Baseline Support: $486.69
Psychological Resistance: $500
Daily Cloud Support: $468.72

$SPY Daily Candles - [02/13/2024]

Thoughts & Comments Yesterday, 02/13/2024

Yesterday was a terrible day for the markets that caused a lot of fear and confusion. We watched as markets dropped on CPI numbers, and sold off throughout the day due to a lack of buying momentum. $SPY took many traders by surprise, and many traders had a difficult time navigating the markets with either comfort or confidence. 

We started the day with $SPY opening during the pre-market session right under $500 and dropping heavily on CPI numbers to open the day trading at $494.08. Conditions were not ideal going into open and caused a significant amount of difficulties starting the day.  For the majority of the morning, markets continually trended around the $495 range, making buying the dip extremely difficult to capitalize on, with $SPY making the official high of the day during the lunchtime lull, trading at $495.85. Conditions were not ideal, and many traders realized losses in the process. 

In the afternoon, we watched as $SPY continually fell, where during power hour, $SPY made the official low of the day trading at $490.72, down over $10 from the previous close, breaking under the daily conversion line support, and looking extremely bloody in the process. Thankfully, we saw a nice-sized recovery at the end of the day, with $SPY recovering almost $3 in the final hour of the trading day. We ended the day with $SPY trading at $494.08, down $6.90 from the previous close, or down roughly 1.4%, with an intraday bearish movement of -$0.49. From an overall intraday standpoint, $SPY did not move much, but if you look at the movement intraday, it was an extremely difficult day but provided us an amazing opportunity to buy the dip.

Hopefully, you all did not realize losses yesterday, and were able to buy the dip and capitalize on the weakness in the markets! Lets see what happens in the markets today, and capitalize on the opportunities that are available to us! 

Heatmap - $SPY 02/13/2024

Thoughts & Comments for Today, 02/14/2024

Today is going to be an extremely profitable day for the strong traders in the markets. Many traders have felt extremely uneasy as a result of the market conditions yesterday, but many confident traders took that sign of weakness as an opportunity to buy the dip. The amount of times I got a message asking if the markets were going to continue to come down, was genuinely concerning. As I said earlier in this report, I am expecting either a continuation of this selling or an amazing dip buying opportunity as everything that was lost yesterday would be recovered. 

The biggest thing to look to do today is to simply follow the market momentum. Fighting the trend is not favorable in strong market conditions, and unless you are seeing something that everyone else is not seeing, you are most likely incorrect. Watch for opportunities to follow the trend, and ride the momentum in the markets. 

Look for amazing dip-buying opportunities, and capitalize on the short-term weakness in the markets. It would not surprise me in the case market conditions do weaken in the short term and we continue to drop, but on the flip side, it would not surprise me in the case that the markets rebound heavily here, and we watch as the markets display strength while confidence is low. 

For my allocations today, I am extremely interested in attempting to purchase this dip. This is going to be a difficult sell, mostly as market conditions are not perfect at the moment, but sitting and watching as markets present opportunities to us, we can realistically look to capitalize on short-term strength and confidence. I think that depending on the organization, this is an amazing dip buying opportunity, but it is just a matter of finding the right allocation, riding the momentum, and enjoying the process. I am more interested in allocating into short-term swings and leveraging exposure with options today, instead of attempting to scalp & day trade, but that is just my sentiment when it comes to these market conditions. 

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, $HOOD, $BABA, $NVDA, $TSLA, $AMD, $SMCI, $RIVN, $TSLA

LONG OPPORTUNITIES:

• Long-Term Dividend - $GAIN / $JEPI

• Long-Term Investment - $KO / $BA

• Speculative Re-Entry - $DIS / $RIVN

Economic News for 02/14/2024

• MBA 30-Year Mortgage Rate - 7:00 AM (ET)

• Crude Oil Imports - 10:30 AM (ET)

• Fed Vice Chair for Supervision Barr Speaks - 4:00 PM (ET)

Notable Earnings for 02/14/2024

Pre-Market Earnings:

• Barrick Gold Corporation (GOLD)

• Kraft Heinz Company (KHC)

• CME Group (CME)

• Williams Companies (WMB)

• Generac Holdings (GNRC)

• Ryder System (R)

• Sony Group Corporation (SONY)

• Sunoco (SUN)

• Sonic Automotive (SAH)

After-Market Earnings:

• Albemarle (ALB)

• Cisco Systems (CSCO)

• Occidental Petroleum (OXY)

• Twilio (TWLO)

• Energy Transfer LP (ET)

• Arch Capital Group Ltd. (ACGL)

• Fastly (FSLY)

• Upwork (UPWK)

• HubSpot (HUBS)

Wrap up

This is going to be a fun day for the markets. It all comes down to the market sentiment and how confident you are in navigating these conditions. Many traders will be fearful and not be able to realize gains trading today, and the confident traders will seize the opportunities available, and realize a significant amount of gains. Just make sure to practice safe risk management, allocate when you are comfortable, and be consistent with your trades. This will be a great time, so be safe, and be confident in these conditions. 

Good luck trading, and let’s watch this wild market momentum.