HaiKhuu Daily Trading Report

Good morning, and Tuesday! This has been a wild time for the markets; with $RDDT continuing to rally, this is going to be an interesting time. I hope you all are doing well and are ready for what should be a wild day. Market conditions are looking good going into open as $SPY is up during the pre-market session. There is a chance that we see an all-time high today, so prepare accordingly, but tread lightly on these conditions. Do not be overly aggressive in these market conditions, but look to take advantage of the momentum in the markets today. We should all have a fun time with many opportunities being presented to us, so let’s have a great time and seize any opportunities that are presented to us!

Good luck trading, and let’s see where $SPY goes today!

The updated $SPY daily levels are as follows:
Conversion Line Support: $516.12
Baseline Support: $508.84
Psychological Support: $500
Daily Cloud Support: $491.90

Thoughts & Comments from Yesterday, 03/25/2024

Yesterday was a rough day for the markets. There was almost no movement overall intraday, but there were opportunities to actively trade throughout the day. Many traders had a great time watching as some organizations rallied to new 52-week highs, and we watched as Reddit rallied 30%. It was a great day with many opportunities to trade, but a difficult time for the majority of traders due to a lack of overall movement and a tough intraday movement.

We started the day with $SPY trading at $519.81, down from the previous close of $521.21, buy watched as the markets remained optimistic. Markets moved up early in the morning to test $520.50 and consistently chopped there from the early morning until right before close. Conditions were not ideal as markets did not move and were extremely range-bound for the large majority of the day. We did watch as $SMCI rallied $70, $DIS hit a 52-week high, and Reddit ripped 30%, but outside of those, that was the only majority of the larger moves that happened yesterday. $SPY was neutral for the majority of the day, trading around $520.50, and made trading general positions extremely difficult.

$SPY did start to come down in the final 15 minutes of the trading day, going from $520.50 to officially end the day trading at $519.77, down $1.44 for the day, or down 0.28%, with an intraday bearish movement of $0.04. It was a tough, tough day for the overall markets, but if you were following the markets, you were presented with many phenomenal opportunities to realize some gains. I hope you all had fun yesterday and were able to capitalize on the opportunities that were presented to us. It was a difficult time, but it was a lot of fun watching as $RDDT continued to hit new highs intraday. Let’s see what the markets have in store for us today, and let’s see a new all-time high on $SPY.

Thoughts & Comments for Today, 03/26/2024

Today is looking like it is going to be one of those days full of opportunities, and that should excite everyone. With market conditions looking strong during the pre-market session and us within striking range of a new all-time high, it is hard not to be optimistic. Tread lightly on these market conditions, but look to take advantage of the momentum in the markets and realize some gains in the process. The previous all-time high on $SPY is $524.11, so keep that number in mind when attempting to trade today. There are going to be many great opportunities to trade, so be smart and diligent, but take advantage of these conditions.

This is a trader’s paradise; there is the perfect mix of volume, volatility, and momentum in the markets, so it is almost hard not to want to attempt to scalp and trade in these conditions. I do want to warn about the risks of allocating here as many organizations are heavily overpriced, but at the same time, look to follow the momentum, and buy high, and sell even higher. Conditions are strong enough for us all to capitalize on the strength in the markets, and there is no good reason we should not all look to take advantage of it. I do want to warn you all to make sure you are practicing safe risk management. The best of traders will remain consistent, and the lucky traders will have a great time, but those who are overly aggressive and are leveraging their accounts will get wiped extremely quickly. I would not advise any of you to be overly aggressive or attempt to trade when you are not confident, but it is hard not to be confident. Look to either find a dip buying opportunity today or look to simply follow the momentum. Do not attempt to trade an organization that is not trending, and have some fun realizing gains today.

For my allocations today, I want to find some organizations that have momentum and opportunity being presented to us. We should have a relatively easier time in these market conditions as a result of the strength in the markets. A couple of positions I am interested in right now, though, are shorting $RDDT and going long $LULU. Reddit, in my opinion, has a lot of potential to continue to move but is heavily overvalued right now as a result of the bullish momentum they have experienced over the previous trading day, resulting in a risky, but could be a great possibility to short, and then $LULU is oversold as a result of the bearish momentum that was generated during the earnings call. Neither of these are positions that I anticipate holding, but both are opportunities I will be watching to attempt to scalp when I have the confidence to do so. Please note that, again, both of these positions are extremely high risk, and I would not advise them for the large majority of individuals who are trading. If 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, $RDDT, $LULU, $TSLA, $RIVN, $NVDA, $AMD, $ASML

LONG OPPORTUNITIES:

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

Economic News for 03/26/2024

Durable Goods - 8:30 AM
Redbook - 8:55 AM
House Price Index - 9:00 AM
CB Consumer Confidence - 10:00 AM
Richmond Manufacturing Index - 10:00 AM
5-Year Note Auction - 1:00 PM

Notable Earnings for 03/26/2024

Pre-Market Earnings:

TD SYNNEX (SNX)
GDS Holdings (GDS)
McCormick & Company (MKC)
Elbit Systems (ESLT)
Bragg Gaming Group (BRAG)

After-Market Earnings:

Gamestop (GME)
Concentrix Corp (CNXC)
Progress Software (PRGS)

Wrap up

This is going to be another fun day for the markets with a chance of watching as $SPY makes a new all-time high. Please be careful and cautious in these conditions, but look to take advantage of the confidence in the markets. Tread lightly and practice safe risk management, but take advantage of the conditions that are available. We should have a great time navigating the markets together today, so let’s realize some gains and have an amazing time.

Good luck trading, and let’s see a new all-time high on $SPY!

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HaiKhuu Daily Report 03/26/2024