HaiKhuu Daily Trading Report

Good morning, and happy Wednesday! We have FOMC today, so I hope you all are excited because this is going to be a catalyst to see a large move in the markets. Markets are neutral at the time of writing this report, but what happens now is going to be irrelevant by the time the markets close. Please be careful while attempting to trade today, as markets will be extremely volatile, and movements will be irrational. Many traders are going to have a difficult time realizing gains consistently, while some traders are going to be extremely profitable today. Please plan accordingly, be smart in the process, and do not get greedy. Tread lightly on these conditions, and I’ll talk more about how to navigate, and thoughts on these conditions later on in the report.

The only thing that matters today is how the markets react at 2 PM EST, so make sure to tune in and prepare accordingly with us.

Good luck trading, and let’s see what the Feds have in store for us!

The updated $SPY daily levels are as follows:
Conversion Line Support: $513.17
Baseline Support: $504.47
Psychological Support: $500
Daily Cloud Support: $489.07

Thoughts & Comments from Yesterday, 03/19/2024

Yesterday was a beautiful day for the markets, filled with bullish momentum and confusion. We watched as organizations like $NVDA bleed, going from down $35 at the low to pushing and rallying to up $20 at the high. There was a $55 range on $NVDA on an intraday basis, and we saw many other large movements in real-time. Many traders were profitable and genuinely presented everyone with some phenomenal opportunities.

We started the day with $SPY opening red, trading at $512.14, down from the previous close, but displayed strength from open. We did quickly drop to make the official low of the day at $511.13, but conditions remained strong despite this, as $SPY rallied throughout the rest of the day, reclaiming the newly adjusted conversion line, and pushing extremely quickly.

The markets broke out after the lunchtime lull as $SPY quickly pushed up to $515 before slowing down. Despite being relatively slow, markets were up significantly, so volatility did not matter as much, mostly as we had stability at the $515 level. Conditions were strong, and thankfully, we retained $515 despite it being a difficult level to break out from.

We did watch as markets rallied a final time leading into close, making the official high of the day trading at $515.99, before ending the day with $SPY trading at $515.71, up $2.85 for the day, or 0.56%, with an intraday bullish movement of $3.57. It was a beautiful day for the markets with many great opportunities to trade and allocate. I hope you all had a lot of fun and were able to capitalize on the general movement in the markets. Conditions remained strong, and markets set up beautifully for FOMC.

Thoughts & Comments for Today, 03/20/2024

Today is going to be a fun day for the markets. We have FOMC as well as many major earnings during the after-hours session, so there is no reason everyone should not be excited about trading today. I am expecting a significant increase in volume, momentum, and opportunity today. It is just a matter of remaining comfortable and confident in these market conditions, as well as being able to navigate and realize gains. I do not know which direction the markets are going to go, but all I know is the markets are setting up for a large directional move, and it is just a matter of being able to tread on these markets and follow the momentum. The best traders are going to be able to realize a significant amount of gains. Look to be aggressive when trading, but keep your fists up because this is going to be a fight navigating these conditions.

For my thoughts on how the markets will move today, I am expecting to see a significant overreaction at open, a large movement in either direction that is irrational and relatively unsustainable, and then watch as there is a reversal in the markets, leading to a significant decrease in volume, momentum, and direction, leading into lunch, where we start to see people’s sentiment start to show. Markets will slowly bleed or push leading into FOMC, with the general consensus being either watching the markets move up as people are FOMOing in prior to the event or watching as people are selling off leading into the event. Then, there should be an extremely large move at 2 pm EST that slowly calms down until 2:30, when Jerome Powell starts talking, and then it is genuinely a toss-up of either direction. Markets are either going to rally with Jerome Powell saying what is needed to be said or watch as the markets sell off as Jerome Powell continues the confusion and people sell off. Movements up until 2 pm will be relatively easy to predict and navigate, but just know that after 2 pm, it will genuinely be a toss-up on the direction we go and, ultimately, whatever ends up happening. Tread lightly, but again, if you are attempting to trade, keep your fists up because it will be a fight for the direction the markets what to go.

For my allocations today, my plans are simple. Make money. I will be looking to aggressively scalp today, and it will either end up beautifully or we are going to have a tough time in the process. I do not plan on allocating at open, but I am expecting to see some bullish momentum in the markets. Once there is a sign of momentum slowing down and a confirmation of a reversal, I plan on shorting some higher-beta plays as well as $SPY. This will be a play that I hold and let slow brew leading into the lunchtime lull, where I will look to cut that short and reverse the position to go long, leading into FOMC. I anticipate taking all trades off the table prior to FOMC and will be looking to actively scalp the aftermath, trying to buy dips and being extremely quick with my positions. I think I should be able to generate a significant amount of realized gains as a result of these conditions, but I just want to remain level-headed and rational while the markets are reckless. This can obviously change intraday, assuming conditions shift, but this is one of those days that I do anticipate actively trading heavily, mostly as conditions are primed for it.

Lots of positions are going to happen in real-time today, so when I decide to get into any other plays and see opportunities, I’ll announce what I see 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, $BA, $RIVN, $TSLA, $SMCI, $AMD, $NVDA, $ASML, $MSFT

LONG OPPORTUNITIES:

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

Economic News for 03/20/2024

MBA Mortgage Rate & Applications - 7:00 AM
FOMC Interest Rate Decision - 2:00 PM
Fed Chair Powell’s FOMC Press Conference - 2:30 PM

Notable Earnings for 03/20/2024

Pre-Market Earnings:

General Mills (GIS)
BioNTech SE (BNTX)
Signet Jewelers (SIG)
Ollie's Bargain Outlet (OLLI)
Sportradar Group (SRAD)
H World Group (HTHT)
Kingsoft Cloud (KC)
J. Jill (JILL)

After-Market Earnings:

Micron Technology (MU)
Chewy (CHWY)
KB Home (KBH)
Five Below (FIVE)
Steelcase (SCS)
Worthington Industries (WOR)
Enerpac Tool (EPAC)
Vasta Platform (VSTA)

Wrap up

This is going to be an amazing day for the markets. Let’s have some fun in the process but protect our bottom line at the same time. I am expecting to see many traders be extremely profitable, so continue to capitalize on these market conditions and be smart and safe in the process. Tread lightly, practice risk management, and do not get greedy today. This will be a fight, but hopefully, all of us will be able to come out on top as winners. This is going to be a great day, so seize the opportunities and have an amazing time.

Good luck trading, and let’s watch Jerome Powell push $SPY to an all-time high!

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HaiKhuu Daily Report 03/20/2024