HaiKhuu Daily Trading Report

Good morning, and happy Friday! This has been a wild week for the markets, and I hope that you all have had a lot of fun in the process. There have been many great opportunities to trade, and there have been many opportunities to realize both gains and losses during this time. It has been a lot of fun, but this has been such a sketchy ride. This should be a fun way to end the week with a lot of momentum, confusion, and opportunity, so look to tread lightly on these market conditions, but do what you can to maximize the potential for gains. Earnings season is among us. Today is the start of all of the financial organizations reporting, so expect to see a heavy increase in both volume and volatility! Make sure to practice safe risk management, but do what you can to increase your profit potential during these extremely volatile market conditions!

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

The updated $SPY daily levels are as follows:
Conversion Line Support: $517.97
Baseline Support: $516.37
Psychological Support: $500
Daily Cloud Support: $504.00

Thoughts & Comments from Yesterday, 04/11/2024

Yesterday was a wild day for the markets. Traders were pleased with an extremely momentum-based trading day, full of opportunities to trade in either direction with both comfort and confidence. Many traders were able to realize gains with ease, while other traders had an extremely difficult time. Hopefully, you all were able to realize gains and have a great time, but unfortunately, I know that some traders had a difficult time.

We started the day with $SPY looking relatively strong, opening the day trading at $515.67 and displaying relative strength from the bottom. Despite this relative strength, $SPY started to sell off from open, where within the first hour of the trading day, $SPY went on to make the official low of the day, trading at $512.08. Conditions were looking extremely rough at the bottom, with many traders being extremely conflicted at the time and many losses being generated in the process. Thankfully, after we hit the bottom, the markets continued to rally consistently throughout the back half of the day.

Everything started slow during the lunchtime lull, but conditions continued to get stronger in the process. Markets moved up, going green again for the day during the lull, and we watched as the afternoon was full of strong bullish momentum. We watched as $SPY came up to test $520, making the official high of the day trading at $519.48 before coming down slightly towards the end of the day.

Overall, we ended the day with $SPY trading at $518.00, up $3.88 for the day, or up 0.75% from the previous close, with an intraday bullish movement of $2.33. It was a beautiful day for the markets with opportunities to realize gains in the process. I hope that you all again did well in the markets and were able to capitalize on the opportunities presented. The morning was extremely tough, but thankfully, we were able to recover during the back half of the day and watched as organizations recovered nicely.

Thoughts & Comments for Today, 04/12/2024

Today is looking significantly better from a technical level than the previous couple of days. We are back above the daily baseline support and are actively testing the daily conversion line. This is not a sign of confidence or a reversal from the bottom, but it does help us with the general sentiment. I am sure you all appreciate not having to be overly cautious, and I would advise you all to take advantage of this short-term confidence in the markets. Again, market conditions are extremely strong, but this is not the time to be overly aggressive. Look for opportunities to trade and realize gains, but remain both comfortable and confident at the same time. Limiting your risk is going to be the key to your success in these market conditions, but look to have some fun in the process and realize some gains. You can very easily overtrade in these market conditions, so just remain level-headed when attempting to make a decision about your allocations, and do not let emotions get to you.

I will say that the markets are honestly extremely primed to break out with relative ease and confidence. With market conditions starting to display a little bit of strength, there being a lot of confusion about sentiment, and watching as we are trading at neutral on the fear and greed index, these are primed conditions for the markets going up. We do have many catalysts coming up of opportunities for the markets to move up, including earnings and economic news. If conditions continue to strengthen, we will be less than 2% away from making a new all-time high on $SPY. Please just continue to practice safe risk management, but do what you can to maximize your profit potential.

At the same time, as a result of the market conditions over the previous week, I will advise you all to consider adding light hedges to your account. Market conditions can continue to display strength and render your hedge useless, and that would be unfortunate, but thankfully, you will realize significantly more gains on the upside compared to your hedge. But the upside is in the case that the markets come down, realistically, your downside risk will be minimized as a result of the hedge. The only situation that you can realistically lose by doing this, is by simply watching the markets chop sideways, losing on the hedge, and hating the process involved. But this is extremely unrealistic as market conditions are primed to have an extremely large movement in either direction at this point.

For my allocations today, I do not anticipate actively trading. I will not be around for the large majority of the day, so unfortunately trading is going to be one of my lowest priorities. I will be holding my current allocations and seeing where this goes. Thank you all for understanding, but I genuinely hope you have a great time today and see some insane bullish momentum in the process!

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, $LULU, $RIVN, $ULTA, $NVDA, $AMD, $TSLA

LONG OPPORTUNITIES:

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

Economic News for 04/12/2024

Export/Import Price Index - 8:30 AM
UMich Inflation Expectations & Consumer Sentiment - 10:00 AM
Fed’s Bostic Speaks - 2:30 PM
Fed’s Daly Speaks - 3:30 PM

Notable Earnings for 04/12/2024

Pre-Market Earnings:

JPMorgan Chase (JPM)
Wells Fargo (WFC)
Citigroup (C)
Progressive (PGR)
BlackRock (BLK)
State Street (STT)

Wrap up

If the markets continue to display strength, this could very easily be a reversal in the markets, and watch as we rally on the pre-market earnings. Please tread lightly on the economic news that is coming out today, and do what you can to maximize your profit potential. There is no reason you should be passive and not attempt to realize gains, but at the same time, I would advise you all to be cautious and practice safe risk management. Traders will be presented with many opportunities to trade today, so follow the momentum and maximize the amount of gains that you are able to generate!

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

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HaiKhuu Daily Report 04/12/2024