HaiKhuu Daily Trading Report

Good morning, and happy Wednesday! This week has flown by, and I hope you you all are feeling great and are ready for today! This is just a reminder that the markets are closed on Good Friday, and we have a significant amount of news coming out tomorrow, Thursday, March 28th. Markets should see an increase in volume and volatility leading into tomorrow as people are adjusting their portfolios for the economic news and the shortened week. $SPY is up slightly during the pre-market session, back above the $520 support, and should be a relatively fun time to attempt to trade today. I’d be cautious in these market conditions as $SPY has been relatively confusing over the previous couple of days, so tread lightly but look to capitalize on the volatility and momentum in the markets.

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

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, 03/26/2024

Yesterday was a tough day for the overall markets. Markets remained neutral for the large majority of the day, remaining within a $1 range, making trading extremely difficult, but we thankfully did have organizations like $DJT and $RDDT to actively scalp to be able to generate some short-term realized gains while $SPY was not moving, but then watched as $SPY dropped heavily again into close. This is the fourth red candle in a row on the $SPY daily, which is concerning, but market conditions are still relatively strong.

We started the day yesterday with $SPY trading at $521.22, looking strong above the previous close and honestly looking optimistic. Conditions looked great going into open, but as I said before in the intro, we watched as $SPY did not move much for the large majority of the day. It was an extremely low-volume day, with one of the lowest volumes we’ve seen this entire year. We made the official high of the day with $SPY trading at $521.57 and continually hovered around the $521 mark until powerhour.

During powerhour, market conditions were not exciting at all. We continued to hover around $521 for the first half hour, which was genuinely uneventful and then watched as the markets started to continually sell off in the final half hour of the day. Conditions were not optimal, and we watched as $SPY continued to make new lows of the day all the way into close. We made the official low of the day trading at $518.40 and ended the day with the markets trading at $518.81. $SPY was down $0.96, or roughly 0.2% overall, with an intraday bearish movement of $2.82.

Conditions to trade yesterday were not optimal at all nor provided us with great opportunities to trade, but thankfully we were able to actively scalp and daytrade both $DJT (Formally $DWAC) and $RDDT, as $DJT was a phenomenal short opportunity from the top, and $RDDT gave us a great opportunity to scalp long around open. I hope you all did alright while trading yesterday and were able to realize gains with relative confidence. Let’s see what the markets have in store for us and prepare accordingly.

Thoughts & Comments for Today, 03/27/2024

Today, hopefully, is a better day for the general markets. With the way that the markets are trending right now, conditions are looking optimistic, but the issue is that this has been the case over the previous couple of trading days, where $SPY looked great during the pre-market session but has resulted in less than optimal trading conditions. Look to take advantage of these market conditions, but do not be overly ambitious or aggressive in these conditions unless presented with an opportunity to take on more risk. If the markets move like they have over the previous couple of days, traders are going to have a difficult time capitalizing on this general market momentum.

Realistically, I do not believe that we will have a repeat of the previous couple of days where market conditions are not optimal and relatively low volume, but that is just part of being in the markets, where realistically, we could see another repeat of low volume and volatility, but I just do not see that realistically happening. I would advise you all to be cautious in these market conditions but understand that we are due for a movement in the markets. It is just a matter of which direction the markets ultimately decide on and if we all are able to capitalize on the opportunity.

Tread lightly and practice risk management today, but consistently be looking for opportunities to follow the trend. Two organizations that I believe are overvalued heavily here, which should present us with both volatility and momentum, are $DJT and $RDDT. Both organizations can easily continue to trend up in an irrational way, but realistically, with the current market conditions, they can come down extremely quickly. Donald Trump does have a six-month lock-up on his $DJT, but this is realistically heavily overpriced. Where we should see some bears get slaughtered in the case there is a breakout, but the bears who are going to be lucky and time out their position properly, should be able to realize a significant amount of gains. Just something to consider in these market conditions and try to capitalize on as the trades are presenting themselves to us right now.

For my allocations today, I plan on keeping my trades relatively simple. I want to find positions to trade around open and to look to follow the momentum in the markets, but at the same time, I don’t want to be overly ambitious and over-trade. Conditions are looking extremely optimal right now, and there are many trades that are being presented to us, but despite trades being presented to us, I do not suggest being overly aggressive. I will be looking for opportunities to short both $RDDT and $DJT, but I would be more comfortable allocating into this position once there is a breakout and it is showing a sign of a reversal. This is obviously an extremely risky play that I do not advise the majority of you to attempt to follow, but if you are a confident trader, you should be able to realize gains relatively easily in the process. 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, $DJT, $RDDT, $BA, $TSLA, $RIVN, $NVDA, $SMCI, $MSFT

LONG OPPORTUNITIES:

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

Economic News for 03/27/2024

MBA Mortgage Rate - 7:00 AM
7-Year Note Auction - 1:00 PM

Notable Earnings for 03/27/2024

Pre-Market Earnings:

Carnival (CCL)
Cintas (CTAS)
Paychex (PAYX)
UniFirst (UNF)
Lands' End (LE)

After-Market Earnings:

Rumble (RUM)
Braze (BRZE)
H.B Fuller (FUL)
Jeffries Financial Group (JEF)
Sprinklr (CXM)
MillerKnoll (MLKN)

Wrap up

This should be another fun day for the general markets with many opportunities to trade and realize a significant amount of gains. I am extremely excited to see where the markets go, but tread lightly as market conditions have not been optimal over the previous couple of days. Seize any opportunities that are available to you and maximize the potential for gains, but just be smart and realistic in the process. Remember that there is a significant amount of economic news that t is coming out tomorrow, and that markets are closed for Good Friday. So prepare accordingly, and have a great time trading today!

Good luck trading, and let’s see where the markets take us!

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HaiKhuu Daily Report 03/27/2024