HaiKhuu Daily Report 04/10/2024
Good morning, and happy Wednesday! We have lots of economic news coming out today, so I hope you all are prepared for extremely volatile moves in the markets! Thankfully, we are back above the daily conversion line, which gives us hope and confidence in this volatile and confusing time. This should be a fun day for the markets, which should be full of both momentum and opportunity. Please take advantage of these conditions and do what you can to maximize your profit potential. Make sure to practice risk management, but do not sleep on these conditions. Many traders are going to be able to realize a significant amount of gains trading today, so have some fun and realize some gains!
Good luck trading, and let’s see what the markets do!
The updated $SPY daily levels are as follows:
Conversion Line Support: $518.68
Baseline Support: $514.76
Psychological Support: $500
Daily Cloud Support: $501.21
$SPY Daily Candles - [04/09/2024]
Thoughts & Comments from Yesterday, 04/09/2024
Yesterday was a confusing day for the markets but it provided us with extremely consistent opportunities to realize a significant amount of gains. There was an extremely large bearish movement in the markets, which was followed up by a slow recovery; traders could have very easily capitalized on both directions with ease and consistently realized gains throughout the entire day.
We started the day with $SPY opening slightly green, trading at $520.48, and had a quick pop to make the official high of the day at $520.75. Conditions were looking strong, but the markets quickly sold off within the first half hour of the day and started to absolutely collapse afterward. Going into the lunchtime lull, $SPY made the official low of the day, trading at $514.35, causing many traders to realize losses in the process and providing other traders with a phenomenal dip-buying opportunity.
During the lunchtime lull, the markets thankfully recovered the majority of the losses, as $SPY went up to test $518 before starting to show weakness afterward. We did watch as $SPY dropped again, leading into powerhour, making a relative low trading at $516, but we watched again as $SPY rallied beautifully into close. During power hour, $SPY recovered 100% of all of the losses generated and went green again from the previous close. We ended the day with $SPY trading at $519.32, up $0.60 for the day, or up 0.12% from the previous close, with an intraday bearish movement of $1.12.
It was a tough overall movement for the markets that seemed relatively neutral, but opportunities were consistently presenting themselves. We alerted a short opportunity on $DXYZ prior to open, and watched as they dropped 40% yesterday, which in my opinion is the best short that I’ve ever announced in my life. Congratulations to everyone who was able to get into that play with me, and realized a significant amount of gains in the process.
Heatmap - $SPY 04/09/2024
Thoughts & Comments for Today, 04/10/2024
Today should be a lot of fun as a result of the economic news that we have coming out consistently throughout the day. We have both CPI and FOMC minutes coming out, which will increase volatility and momentum in the markets. Opportunities will be presented to us today; it will be just a matter of catching them in real time with confidence. This is not the time to be overly ambitious or not practice safe risk management, but it will be a great time to increase risk to maximize the amount of gains you are able to generate.
I’ve said this before, and I will say this again: Please do not be passive or reserved in these market conditions. These conditions are primed with opportunities, and this is a day trader’s paradise. Be smart and safe while actively trading, but do not sleep while the markets are strong. Opportunities will be consistently presented with us, there is volatility and momentum. If you are an active day trader or scalper, there is no reason you should not be consistently realizing gains. Yes, obviously, losses will be generated, but any losses can be made back easily.
Just make sure across the board, not only today but in general, that you are limiting your downside risk and limiting your exposure when you can. Make sure to have hard stops set on any volatile position, and be cautious attempting to catch any falling knives.
For my allocations today, I do plan on keeping things more simple. I am currently satisfied with the allocations I have in the markets and will be looking to simply watch and ride the market momentum for the majority of the day. When we see volatility increase and momentum come into the markets, I do plan on scalping the trend of the markets to realize quick gains, but these gains will be nothing life-changing. Just consistent scalps when given an opportunity to realize gains with comfort and confidence. Protecting my bottom line is my main priority today, but I do not want to miss out on opportunities that are presented to me.
If I see any opportunities, or 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, $LULU, $ULTA, $RIVN, $TSLA, $BA, $NVDA
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $BA
Confirmed Re-entry - $RIVN, $ULTA, $LULU
Economic News for 04/10/2024
Consumer Price Index - 8:30 AM
Fed’s Bowman Speaks - 8:45 AM
Wholesale Inventories - 10:00 AM
Fed’s Goolsbee Speaks - 12:45 PM
10-Year Note Auction - 1:00 PM
Federal Budget Balance - 2:00 PM
FOMC Meeting Minutes - 2:00 PM
Notable Earnings for 04/10/2024
Pre-Market Earnings:
Delta Air Lines (DAL)
Applied Digital Corporation (APLD)
After-Market Earnings:
Rent the Runway (RENT)
Richardson Electronics (RELL)
Lakeland Industries (LAKE)
Wrap up
This will be a fun day with lots of opportunities across the board. Let’s realize some gains and take advantage of these market conditions. I am expecting to see volatility in the markets with all of the speakers and economic news coming out today, so prepare accordingly, tread lightly, and realize gains with confidence. It is going to be a great time trading today, so let’s take advantage of these conditions and maximize our profits!
Good luck trading, and let’s realize some gains!