HaiKhuu Daily Trading Report

Good morning and happy Friday! I hope you all are feeling great and are excited about today! Markets are looking strong, as $MSFT and $GOOGL had phenomenal earnings and have rallied heavily in the process. $GOOGL has made a new all-time high as a result of its earnings, and $MSFT is casually up $15 a share at the time of writing this report. This is going to be a great day for the markets with opportunities consistently presented to us. Market conditions are looking extremely strong, and we should have a phenomenal time in the process. Take advantage of these conditions, and let’s realize some gains riding this momentum!

UPDATE: WE JUST GOT QUOTED IN THE WALL STREET JOURNAL

FEEL FREE TO READ THE ARTICLE HERE

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

The updated $SPY daily levels are as follows:
Conversion Line Support: $500.85
Baseline Resistance: $509.24
Psychological Support: $500
Daily Cloud Resistance: $510.02

Thoughts & Comments from Yesterday, 04/25/2024

Yesterday was a rough day for the markets, but it came with consistent bullish momentum. Markets displayed general weakness, which resulted from multiple factors, including $META diving on earnings and general economic news. We had GDP, Jobless Claims, and PCE all come out at 8:30 a.m. EST, which was the catalyst for the markets’ coming down. Thankfully, most of the losses were recovered on an intraday basis.

We started the day with $SPY trading at $499.20, down significantly from the previous close of $505.41. Conditions were looking relatively weak as many traders were confused and conflicted about which direction they wanted to go, but thankfully, the strength in the overall markets took hold as $SPY continually moved up throughout the rest of the day. There was strong and consistent bullish momentum despite it being extremely slow and drawn out. Yesterday was an extremely rough day to watch as a result, but again, we were provided with consistent opportunities.

The market's momentum started to pick up heavily after the lunchtime lull, as $SPY broke back above $500 and continued to push up easily, making the official high of the day trading at $504.26 and coming down slightly into close. We ended the day with $SPY trading at $503.49, down roughly $2, or 0.4%, with an intraday bullish movement of $4.29. Hopefully, you were able to capitalize on the opportunities that were presented to us in the process. It was a fun ride with many great opportunities to buy the dip!

Thoughts & Comments for Today, 04/26/2024

Today is going to be an extremely fun day for the general markets. With the strength coming from both $MSFT and $GOOGL, I am expecting many other organizations to rise as a result of this confidence. I would not expect to see overly bullish market conditions, but I am expecting to see some strength. Look to take advantage of these market conditions and do what you can to maximize your profit potential. This is not one of those days you should attempt to fight the momentum in the markets. Follow the trends, and make trading easy on yourself today.

One extremely volatile play that I am interested in watching today is $SNAP. The big earners yesterday that everyone is going to be watching are $MSFT and $GOOGL. Both of these are going to be extremely profitable, consistent winners in your portfolio, and I cannot say anything against them. I am expecting them to trend with the markets continually and honestly move the markets, but $SNAP is a high beta, volatile move that you should keep your eyes out on. They are up significantly as a result of their earnings, and in the case that $META continues its recovery today, $SNAP should continue to do well. I would not advise you to attempt to purchase any option contracts against the organization as a result of the premium you’d pay, but I would highly suggest looking for opportunities to scalp this equity as a result of the bullish momentum and volatility that is going to be driven as a result.

As always, I do want to warn you all again about these market conditions and to make sure that you are practicing safe risk management. Market conditions are looking more favorable here in the short term, but we are not at a place of ultimate confidence yet. I would advise you to make sure to practice safe risk management, limit your downside risk, and set stops on any positions that you are actively trading at any time. This is going to be a trader's paradise with opportunities consistently being presented to us, but just because it is a paradise does not mean you should not tread lightly. We will all have many great opportunities to realize a significant amount of gains in a short period of time, but it is just a matter of remaining consistent.

For my positions today, I do plan on actively scalping and trading when given an opportunity to do so, but I do not anticipate taking on a significant amount of risk as a result. I do want to see the markets continue to move with bullish momentum, but at the same time, I am anticipating that with the way the markets are going, taking risks today will become extremely profitable for some who take advantage of the opportunities. I will not be looking more towards taking on extreme risks like gambling 0-DTE positions, but more so, stuff like allocating specifically towards higher beta plays like $SNAP.

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.

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, $MSFT, $GOOGL, $SNAP, $TSLA, $META, $RIVN, $NVDA

LONG OPPORTUNITIES:

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

Economic News for 04/26/2024

PCE Price Index - 8:30 AM
Personal Income & Spending - 8:30 AM
U-Mich Inflation Expectations & Sentiment - 10:00 AM

Notable Earnings for 04/26/2024

Pre-Market Earnings:

Exxon Mobil (XOM)
Chevron (CVX)
AbbVie (ABBV)
HCA Healthcare (HCA)
Colgate-Palmolive (CL)
Charter Communications (CHTR)
Centene (CNC)
Autoliv (ALV)
AutoNation (AN)
Phillips 66 (PSX)

Wrap up

This is going to be an extremely fun day for the markets, with many opportunities to realize a significant amount of gains, take advantage of the short-term confidence in the markets, and look to realize gains wherever possible. Many traders are going to be able to realize a significant amount of gains today, so maximize your potential and have a great time in the process.

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

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HaiKhuu Daily Report 04/26/2024