HaiKhuu Daily Trading Report

Good morning, and happy Monday! I hope you all had a great weekend and are ready for an interesting week. We have FOMC this week on Wednesday, and $SPY is below the daily support level. We are about to see a large directional move, but the question is which direction we are going. Are we going to finally be selling off, or are we about to see a quick bounce at support? Tread lightly on these market conditions, but prepare accordingly.

Market conditions are still strong, and we are only displaying short-term weakness. The markets are overpriced, but we have been extremely strong for five months. Economic news can easily shift that sentiment, mostly if we announce that rates are going to be cut. Will this short-term weakness be enough to cause the markets to finally come down? Or will we see a nice rebound off of support?

Regardless of which direction we ultimately end up going, please make sure to practice risk management and protect your bottom line!

Good luck trading, and let’s see what happens this week!

The updated $SPY daily levels are as follows:
Conversion Line Support: $511.57
Baseline Support: $504.47
Psychological Support: $500
Daily Cloud Support: $486.59

Thoughts & Comments from Last Week,

Last week was a tough week for the markets. There were opportunities for both the bulls and the bears to capitalize on these market conditions, but many traders got slaughtered in the process. There was not much overall movement when taking into account the open price on Monday and the close price on Friday. Hopefully, you all were able to capitalize on the general strength in the markets and realized some gains in the process.

We started the week with $SPY trading at $510.39 on Monday. Conditions were not looking the best in the process, but we watched as the markets continually pushed up until Wednesday, displaying strength as $SPY moved up over 1% in a very short period of time before starting to staggard and come down in the back half of the week. $SPY made the official high of the week, trading at $517.38, and watched as that was the resistance that was tough to beat.

During the back half of the week, though, there were significant difficulties attempting to be bullish, as $SPY consistently dropped on Thursday, going from $517 all the way down to making the low of the day trading at $511.82. We did make the official low of the week on Friday, trading at $508.12, but conditions did not get much better, as we ended the week with $SPY trading at $509.83, down $0.56 from opening on Monday, or down roughly 0.1%. This percentage overall does not sound significant, but there was almost a $10 spread between the high and the low of the week on $SPY.

Many traders had a difficult time trading last week, but many others were able to realize a significant amount of gains. I hope that you were able to realize gains last week with ease and had a great time doing so in the process, but I know that many traders had a very difficult time realizing gains consistently. If you generated gains last week, congratulations, and let’s see what this week has in store for us!

Thoughts & Comments for Today, 03/18/2024

Today is going to be a confusing time for markets. With FOMC later this week, many traders are going to start to prepare their portfolios accordingly. This means that we will see some reallocations throughout both today and tomorrow, meaning we should see many organizations move heavily in an irrational way. Please prepare accordingly, and do not be surprised if you see some confusion in the markets with many organizations not performing like others.

If you are attempting to trade today or tomorrow, do not look to catch a falling knife. Many of the organizations that people are selling off will continue to slip. The best course of action is to follow the inflow. As long as conditions remain strong and people are buying, I am expecting to see some mega-caps start to move up nicely over the next couple of days. I would watch out for $TSLA, $NVDA and $META as mega-caps that have a lot of potential to move up leading into FOMC.

One thing that I do want to continue to warn you all about, is the potential for rate cuts to be coming in the near future. We have seen historically that rate cuts have negatively impacted the markets, and it would not surprise me if that is the reality of what is about to happen once rates do get cut. I do not advise being overly bullish or bearish, and would caution against being bearish during strong market conditions, but despite this. If we start to get news about rate cuts, look into shorting equities that are heavily over-priced, with little to no debt on hand. These organizations will suffer the most in the case rates do get cut, and they will provide us with an amazing opportunity both to trade and plan ahead.

For my allocations not only today, but this week, I do plan on simply watching my general allocations. With the way the markets are going, I do not anticipate actively scalping or trading. I will look out for opportunities to day trade, but in these conditions, I do not feel the need to be overly ambitious or force any positions I am not comfortable or confident in. Market conditions have been extremely strong, but we are at a point that I feel is over-extended, and I do not want to be caught in a position I am not comfortable holding that is overpriced. I may scalp if given an opportunity to do so, assuming conditions remain strong, but I simply anticipate riding the positions that I am in and watching them play out over the next couple of days.

In case I see any other plays or opportunities, I’ll announce what I see in the HaiKhuu Discord.

HaiKhuu Proprietary Algorithm Report:

Last week was a great week for our system as we have launched our newest intraday algorithm. Taking every single play, you would have a performance range of between 0.29%-22.2%, depending on the risk you took and the depth of each allocation. Both are very reasonable and obtainable, and it is just a matter of being able to allocate accordingly in real time with the correct risk parameters. I would take this win with a grain of salt, but I am happy to see that the performance of the algorithm outperformed $SPY within the same timeframe and remained consistent in the process.

Statistics:

194 Total Trades
- 90 Long
- 104 Short
Best Trade:
- Long Position on $NEM - Net 1.56%
Best Short:
- Short Position on $ENPH - Net 1.16%
Worst Trade
- Long on MKTX - Net Loss of 1.16%

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, $BA, $RIVN, $NVDA, $MSFT, $META, $SMCI

LONG OPPORTUNITIES:

Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $BA
Confirmed Re-entry - $RIVN

Economic News for 03/18/2024

NAHB Housing Market Index - 10:00 AM
3 & 6 Month Bill Auctions- 11:30 AM

Notable Earnings for 03/18/2024

Pre-Market Earnings:

Science Applications International (SAIC)
Exagen (XGN)
OneConnect Financial Technology (OCFT)

After-Market Earnings:

StoneCo (STNE)
DLocal Limited (DLO)
FreightCar America (RAIL)
JOYY (YY)

Wrap up

This will be a fun day for the general markets, so let’s look out for opportunities that are presented to us that we have both comfort and confidence in before FOMC. Let’s take advantage of this reallocation and do what we can to maximize our profit potential. I am expecting to see some chop and confusion today, so practice safe risk management, but look to have some fun in the process.

Good luck trading, and let’s see what $SPY ends up doing!

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HaiKhuu Daily Report 03/18/2024