HaiKhuu Daily Trading Report

Good morning, and happy Friday! This has been a beautiful week for the markets with bullish momentum, new all time highs, and now a new ticker in the markets that will be a fun organization to trade in the future. I hope you all are doing well and are excited about what is to come. There are going to be many opportunities presented to us, so look to tread lightly on these market conditions and realize as many gains as possible while markets are displaying strength. This should be a great time with the ability to trade consistently, so have some fun and realize some gains!

Good luck trading, and let’s end this week strong!

The updated $SPY daily levels are as follows:
Conversion Line Support: $516.12
Baseline Support: $508.84
Psychological Support: $500
Daily Cloud Support: $491.54

Thoughts & Comments from Yesterday, 03/21/2024

Yesterday was an interesting day for the markets. Conditions were not ideal despite making a new all-time high on $SPY, and it was extremely difficult to navigate with both comfort and confidence. There was slow and choppy momentum, but people were consistently presented with opportunities to trade either direction, it was just a matter of which organization they decided to allocate into. The Reddit IPO was a lot of fun for the many traders who decided to participate, and many were able to realize gains with relative ease.

We started with $SPY opening the day at a new all-time high, trading at $523.33 and displaying strength in the process. Conditions were looking strong, but not optimal. Markets remained relatively choppy as $SPY did not present enough confidence to move up indefinitely, as $SPY did move up slightly, to make the high of the day and official all time high trading at $524.11.

Markets remained extremely choppy within an extremely tight range for the large majority of the day, and made trading extremely difficult in the process. We watched as the Department of Justice moved forward with suing $AAPL, resulting in $AAPL consistently dropping throughout the entire day, but reacted exactly as we would expect after a major monopoly suit.

The Reddit IPO was a perfect break away from the markets though as it came out in the middle of the day and presented everyone with a perfect opportunity to realize a significant amount of gains, moving up over 20% from the opening price, providing anyone who listened to our game plan an amazing opportunity to trade and realize a significant amount of gains.

$SPY did come down into close, where we ended the day with $SPY trading at $522.20, up $1.72 for the day or up approximately 0.3%, with an intraday bearish movement of $1.13. Market conditions were not ideal, but provided us with great opportunities to trade consistently across the board. I hope you all were able to realize gains in the process with us, and had some fun trading the $RDDT IPO!

Thoughts & Comments for Today, 03/22/2024

Today is setting up to be another fun day for the markets, and is looking like it is going to be a great opportunity to end this week strong. With market conditions remaining optimal, there is a high likelihood that the markets continue to rally and a chance that we push and watch $SPY make a new all-time high.

Continue to practice risk management in these conditions. If we have a repeat of yesterday, conditions are going to be choppy and extremely difficult to navigate. I would advise you all to be extremely cautious and tread lightly on these conditions, but take advantage of the opportunities that are presented to us. There is no reason to be overly bullish or bearish right now, but look to simply follow the momentum and opportunity that is presented to us. Traders should be able to capitalize on these conditions, but it is a matter of how confident you are in your ability to navigate these waters. Some traders will get lucky, but the best traders will remain consistently profitable. This should be a fun time, it’s just a matter of allocating in the right organizations to have that great time.

With the Reddit IPO just happening, I want to bring some more attention to that organization. The dust has settled and the IPO is over. Reddit is currently evaluated at roughly a $6B market cap, which in my opinion is overpriced for where they are currently at, but underpriced for where they can go. I would be extremely cautious attempting to allocate long into $RDDT as they are fundamentally not a great organization, but if you are looking for an organization to actively scalp and day trade, look into the organization. I am expecting to see high volume and volatility in this play today, providing us with genuinely an amazing opportunity to realize gains. I think this is a contender for what could be a great long term free-equity position in your portfolio and will be one position that I do anticipate adding to over time. As I said before, I do not think investing into $RDDT here is the best move as they are overpriced in my opinion, but if we see $RDDT fall closer to the high $20’s, lower $30’s I will be considering going long the organization.

For my allocations today, I do not plan on actively scalping or trading. I am away and my day will be filled with meetings. I apologize again for the sudden travel for work, and thank you all for understanding. I will be back and trading full time again on Monday.

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, $RDDT, $BA, $RIVN, $TSLA, $GRYP, $ASML, $NVDA

LONG OPPORTUNITIES:

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

Economic News for 03/22/2024

Fed Chairman Powell Speaks - 9:00 AM
Fed’s Barr Speaks - 12:00 PM
Baker Hughs Oil Rig Count - 1:00 PM

Notable Earnings for 03/22/2024

Pre-Market Earnings:

No Earnings Scheduled

Wrap up

This is going to be a fun day for the markets with a chance for $SPY to make a new all-time high. Take advantage of these market conditions, traders should be able to realize gains today with relative ease, so be smart in the process, and make sure to practice safe risk management. I wouldn’t advise on taking on a significant amount of risk, but look to realize gains when given an opportunity to do so.

Good luck trading, and let’s end this week strong!

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HaiKhuu Daily Report 03/22/2024