HaiKhuu Daily Trading Report

Good morning, and happy Thursday! This is the last day of the trading week. I hope you all enjoy your Good Friday away from the markets, and happy Easter to those who celebrate. Market conditions are going to be wild as a result of major economic news coming out today during the pre-market session and that will dictate the direction for the day. Tread lightly today, but know that many traders are going to be able to generate a significant amount of realized gains as a result. There’s a chance that we watch as $SPY makes an all-time high today, so let’s have some fun but protect our bottom line at the same time.

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

The updated $SPY daily levels are as follows:
Conversion Line Support: $517.62
Baseline Support: $513.57
Psychological Support: $500
Daily Cloud Support: $491.90

Thoughts & Comments from Yesterday, 03/27/2024

Yesterday was a beautiful time for the markets overall, but it was difficult to navigate the intraday momentum. Markets were relatively flat for the large majority of the day with no good momentum or opportunity, but despite this, we were presented with many phenomenal opportunities to trade and realize gains with relative ease. Traders had a fun time and scalpers were presented with many opportunities to simply ride trending organizations!

We started the day with $SPY trading at $521.67, up nicely from the previous close of $518.81. Conditions were looking strong leading into open, but weak as the markets opened. $SPY quickly dropped down to test $520 for the large majority of the day, making it extremely difficult for any traders to capitalize on the intraday movement on $SPY, but we did watch as individual organizations provided us with opportunities to trade in the process.

Market conditions remained tough for the majority of the day, and it appeared that there was going to be no movement at all until powerhour struck, where we saw the inverse of what happened on Tuesday. $SPY continued to hover at $520, and conditions were not looking optimal at all in any way, shape, or form, but in the final half hour of the day, we watched as $SPY started to rally and continued to rally into close, where we ended the day with $SPY trading at $523.17, up $4.36 for the day, or up 0.84%, with an intraday bullish movement of $1.50. Traders should have been able to realize a nice amount of gains trading yesterday; it all just depends on the organizations you attempted to trade and if you were able to follow the market momentum. We had many traders in our community generate a significant amount of realized gains shorting $DJT, going long $GCTS, and allocating into $DXYZ.

Hopefully, you all enjoyed the wonderful ride the markets provided to us yesterday, and were able to participate in the festivities of realizing some amazing gains in the process.

Thoughts & Comments for Today, 03/28/2024

Today should be an extremely volatile and fun day for the general markets. Conditions look extremely optimistic, and we are trading right below the all-time high on $SPY. The pre-market movement can be a catalyst for a new high on $SPY and bullish momentum. Look for the opportunities as they will be consistently presented to us today, but tread lightly and practice risk management. That is going to be the key to your success in these market conditions. There is no reason to be overly ambitious but at the same time, market conditions are looking favorable. Everything comes down to the economic news that comes out during the pre-market session. So take what is said now with a grain of salt as it was written before the news came out, but just understand that with conditions displaying strength and opportunity, follow the momentum in the markets and realize some gains.

There are going to be many organizations that trend today while other organizations are lagging. If you look at the results of yesterday, $NVDA was down 2.5%, $MSFT and $GOOGL were black, yet we watched as $AAPL rallied up 2%. Market conditions obviously were difficult to navigate yesterday, but by simply following the momentum and finding a trending organization, you should have absolutely zero reasons why you should not be able to realize gains with relative ease. This is a stock pickers market. The individuals who are able to find the opportunity will have the best time, and those who have their blinders on and are hyper-focused on a single position will have a difficult time. Be fluid with your allocations, find the opportunity, and follow the momentum in the markets.

I just want to say this for peace of mind, but please just continue to be careful in these market conditions. Everything is looking phenomenal and conditions can continue to get stronger with time, but it is just a matter of if conditions are going to remain optimal. It is tough allocating into many organizations here as they are highly overvalued, but if you are able to find an organization that you have conviction in, and have confidence in. Make sure there is justification for your thesis, but ride that confidence. Just remember there is a difference between confidence and blind optimism. Have justification for the reasoning behind your allocation, and back it up. If you are wrong, cut your position early and move on, but if you are right, let the position run its course. Do not get greedy, but look to let your runners run.

For my allocations today, I plan on keeping it relatively simple. I’ve taken on a lot of risk over the previous couple of days, allocating into organizations like $RDDT, $DJT, and $DXYZ. Some of those positions have worked out perfectly, but I am at a place where I simply want to relax and not take on as much risk and exposure. I will look to sell some CSPs today to generate some short-term realized gains with ease, but at the same time, I will still be looking for opportunities to scalp and day trade. If conditions remain optimal, I plan on day trading and holding positions throughout the day and realizing gains in the process, but at the same time, if a scalp is presented to me and I have a lot of confidence in the movement, I’ll obviously take advantage of it when I can. So, 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, $DXYZ, $DJT, $RDDT, $RIVN, $TSLA, $AAPL, $NVDA, $INTC

LONG OPPORTUNITIES:

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

Economic News for 03/28/2024

Jobless Claims - 8:30 AM
PCE Price Index - 8:30 AM
GDP Price Index - 8:30 AM
Real Consumer Spending - 8:30 AM
Chicago PMI - 9:45 AM
UMich Inflation Expectations - 10:00 AM
Consumer Sentiment - 10:00 AM
Pending Home Sales - 10:00 AM
Kansas City Fed Manufacturing/Composite Index - 11:00 AM
4 & 8-Week Bill Auction - 11:30 AM

Notable Earnings for 03/28/2024

Pre-Market Earnings:

Walgreens (WBA)
Azul (AZUL)
BRP inc (DOOO)
MSC Industrial (MSM)

After-Market Earnings:

Planet Labs (PL)
Leafly (LFLY)
Semtech (SMTC)
Oxford Industries (OXM)
Torrid (CURV)

Wrap up

This is going to be a fun day for the markets with a chance to see a new all-time high on $SPY! Look to be cautious and careful in these market conditions, but do what you can to maximize the potential you have to realize gains. We have a significant amount of news coming out today, and markets are closed tomorrow, so expect some last-minute volatility, volume, and potential. Seize any opportunity presented to you, and have a great time in the process. This is going to be a great way to end this week.

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

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HaiKhuu Daily Report 03/28/2024