HaiKhuu Daily Report 04/16/2024

Good morning, and happy Tuesday! Hope you all have your fall out shelters ready, because this sounds like WAR. Iran is preparing for a retaliation, and market conditions are looking scary. Please tread lightly, hedge your portfolios, and prepare accordingly. This is going to be a sketchy day for the markets, and traders are going to have an extremely difficult time. Prepare for increased volatility and a bearish movement in the markets, but this is going to be a lot of fun with opportunities consistently presented to us. Protecting your bottom line should be your main priority. $SPY has broken both levels of daily support, had a bearish TK cross under, and is within the daily cloud. 

We are back in fear on the fear and greed index, and we are either going to watch as war escalates here and watch as the markets DIVE here, or watch as this gets resolved and the markets ease up. Tread lightly, prepare accordingly, and be smart and safe in the process. 

Good luck trading, and let’s see what headlines come out today. 

The updated $SPY daily levels are as follows:
Conversion Line: $513.72
Baseline: $514.10
Psychological Support: $500
Daily Cloud: $504.04

$SPY Daily Candles - [04/15/2024]

Thoughts & Comments from Yesterday, 04/15/2024

Yesterday was an absolutely disgusting day for the overall markets. Many traders had a difficult time watching as $SPY continued to make new lows, the dip kept dipping, and watched as the markets took everyone on the highway to hell. Market conditions were terrible as traders were panicing, and it genuinely was a tough time for the hyper-bullish traders. There were opportunities presented to us, but they were far and few between, and extremely short lived. 

We started the day with $SPY opening at $515.03, looking strong, up from the close of $510.85 from Friday. There was a lot of jokes that was bullish on X (Twitter), and man where they all wrong. $SPY did move up slightly, to make the official high of the day trading at $515.30, but the dove for almost the entirety of the trading day. 

$SPY quickly sold off early in the morning but remained relatively neutral around the lunchtime lull, before selling off again as volume and momentum came back into the markets, and unsurprisingly, continued to sell off into close. Conditions were not good in anyway shape or form, and there really was not many bullish opportunities you could have capitalized on. We watched as towards the end of the day, $SPY went on to make the official low of the day trading at $503.59, before recovering slightly into close, where we ended the day with $SPY trading at $504.45, down $6.40 for the day, or down 1.25%, with an intraday bearish movement of over $10. 

That was an absolutely disgusting day for the markets that made trading extremely difficult for the majority of traders, and made trading inconsistent unless you were bearish. I hope that you all were able to survive trading yesterday, because I can say with confidence that the overly bullish traders who did not practice risk management unfortunately got wiped in the process. 

Heatmap - $SPY 04/15/2024

Thoughts & Comments for Today, 04/16/2024

Today is going to be an extremely difficult day to trade. I am expecting to see a significant movement in the markets in either direction, and as a result, many traders are going to be pleasantly surprised, and many traders are going to have a tough time. As I said before, I would advise you all to tread extremely lightly, and I would recommend that relatively inexperienced traders remain passive, and not attempt to trade today.

For the experienced traders, look to follow the general market momentum, but look to trade lightly. There are going to be many headlines that come out today that make trading relatively inconsistent and make navigating the markets extremely difficult. If you are treading lightly, you should have no problem remained fluid with your allocations. 

It may be a little late to do this, as we were suggesting it at the top, but if you are over allocated right now in these market conditions, you should look to hedge your positions. Markets are relatively weak right now, and can very easily bounce, but with the assumption that $SPY does drop below $500, we will continue to sell off, and hedging your account will at least off-set some of the losses that can be generated. Just continue to be smart and safe in these market conditions and do what you can to protect your bottom line. 

For my allocations today, just like yesterday, I do not anticipate on trading. I will be making a couple general allocations in the markets, but I am not excited or overly ambitious when it comes to attempting to allocate in these market conditions. My portfolio is prepared to weather this storm in the short term, and I would advise the majority of you to adjust your portfolio to feel the same way. 

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, $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 04/16/2024

• Housing Starts - 8:30 AM

• Building Permits - 8:30 AM

• Redbook - 8:55 AM

• Fed's Jefferson Speaks - 9:00 AM

• Industrial Production - 9:15 AM

• Manufacturing Production - 9:15 AM

• Treasury Secretary Yellen Speaks - 10:00 AM

• Fed’s Barkin Speaks - 1:00 PM

• Fed’s Powell Speaks - 1:15 PM

• Fed’s Collins Speaks - 2:00 PM

Notable Earnings for 04/16/2024

Pre-Market Earnings:

• Bank of America (BAC)

• UnitedHealth Group (UNH)

• Johnson & Johnson (JNJ)

• Morgan Stanley (MS)

• PNC Financial Services (PNC)

• Mercantile Bank Corporation (MBWM)

• Ericsson (ERIC)

• Northern Trust Corporation (NTRS)

• Commerce Bancshares (CBSH)

After-Market Earnings:

• United Airlines (UAL)

• Interactive Brokers (IBKR)

• J.B. Hunt Transport Service (JBHT)

• Equity Bancshares (EQBK)

• Hancock Whitney Corporation (HWC)

• America Movil (AMX)

• Fulton Financial Corp (FULT)

• Omnicom Group (OMC)

• Ontrakn (OTRK)

Wrap up

This will be a difficult day for the markets. Tread extremely lightly, follow the general market momentum, and prepare accordingly for the headlines that are going to come out today. Expect to see a significant increase in general volatility in the markets, and protect your bottom line. Practicing risk management is not sexy, but do you know what is? Not losing 50% of your portfolio in a single day. Be smart, be safe, and be level headed in these market conditions. 

Good luck trading, and let’s see what the markets have in store for us today!