HaiKhuu Daily Trading Report

Good morning, and happy Thursday! $SPY has continued to make NEW all-time highs, and I hope you all are excited and loving these market conditions! The markets have continued to push throughout the night and, at the time of writing this report, are trading at another all-time high!

The conditions are looking phenomenal, and I hope you all are ready for what should be another amazing day for the markets! We do have some major economic news during the pre-market session, but I am not expecting to see a significant shift in market sentiment as a result. Let’s continue to ride this market momentum and see where these conditions take us!

Good luck trading, and let’s continue to push NEW all-time highs!

The updated $SPY daily levels are as follows:
Conversion Line Support: $522.05
Baseline Support: $512.33
Psychological Support: $500
Daily Cloud Support: $516.56

Thoughts & Comments from Yesterday, 05/15/2024

Yesterday was an insane day for the markets, filled with both momentum and opportunity. Traders consistently had an amazing opportunity to ride the bullish market momentum as $ SPY continued to make new all-time highs. We ripped during the pre-market session as CPI came out, and continued to display strength until open, and after open, we continued to rally significantly throughout the day.

We started the day with $SPY trading at $525.83, conditions were looking beautiful as we made an official all-time high on $SPY, and conditions were absolutely beautiful. We were only met with significant bullish momentum throughout the entire day, and realistically, only continued to push throughout the entire day, We did see the markets stall out trading around $528 during the lunchtime lull, but thankfully, instead of selling off afterwards, the markets continued to rip and rally in the process, continuing to make new highs in the process.

Going into the back half of the trading day, the momentum was extremely slow, but we continued to see new highs in the process, and traders absolutely LOVED it, as $SPY continued to rally like there was no tomorrow. We made the official high of the day right before close, trading at $530.08, which is the new official all-time high on $SPY, and everyone LOVED the conditions. We ended the day with $SPY trading at $529.78, up $6.48 for the day, or up 1.24%.

Market conditions yesterday were absolutely amazing, as $SPY has recovered and rallied $35 in the past month. This has been an amazing time for the markets, and I hope that genuinely, all of you are able to capitalize on this momentum and these opportunities. Conditions are looking absolutely phenomenal, and I am extremely excited that we are pushing all-time highs again. Markets are strong, and these numbers prove it! I hope you all had an amazing time trading yesterday and were able to capitalize on the momentum with us!

Thoughts & Comments for Today, 05/16/2024

Today is setting up to be what should be another amazing day for the markets with NEW all-time highs! Conditions are extremely strong, but there is genuinely no reason why you should attempt to fight the momentum. This is obviously a sketchy point to attempt to allocate into the markets, but at the same time, the amount of strength and reliability in the markets, is amazing. We are at the lower end of greed on the fear and greed index, signaling that while market conditions are euphoric, we can easily continue to move up with ease. I am hesitant to allocate in these market conditions, but I am not reluctant to hold the positions that are currently in my portfolio.

As I have said before, and I am happy to say again, this is the time to let your winners win and ride the momentum in the markets. There is no reason why you should be overly ambitious or attempt to overtrade. Look to take advantage of this momentum in the markets, but this is the time to simply ride the momentum, seize the opportunity, and relax. There is no reason to overcomplicate this strategy, nor should you. Simply ride your strong allocations and let the markets continue to rally.

If you are presented with an opportunity to scalp though, you should look to take advantage of it when you can. There will be many great opportunities to scalp, they might not be sexy, but they will be consistent. Look to scalp when you can, and look to hold positions and simply enjoy this market momentum. It will be a lot of fun, and again, there is no reason to overcomplicate navigating these conditions.

For my allocations today, I do plan on keeping things relatively more simple. I plan on holding my positions and watching the market momentum, but in the case, a scalping opportunity is presented to me that I am both comfortable and confident in, I will be happy to participate and attempt to realize gains extremely quickly. I do not plan on taking on a significant amount of risk, but I am genuinely more than happy to take on trades when given a chance. I would rather sit back and watch the markets move up accordingly, but things always change in real-time, so I will constantly be on the lookout for trades.

If I see any opportunities, or if I decide to get into any other plays, 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, $AMC, $GME, $FFIE, $NVDA, $TSLA, $DIS, $ULTA, $LULU

LONG OPPORTUNITIES:

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

Economic News for 05/16/2024

Building Permits - 8:30 AM
Jobless Claims - 8:30 AM
Housing Starts - 8:30 AM
Import Price Index - 8:30 AM
Philadelphia Fed Manufacturing Index - 8:30 AM
Industrial Production - 9:15 AM
4&8 Week Bill Auction - 11:30 AM
Fed’s Bostic - 3:50 PM

Notable Earnings for 05/16/2024

Pre-Market Earnings:

Walmart (WMT)
Baidu (BIDU)
JD.com (JD)
Deere & Company (DE)
NICE (NICE)
Lightspeed Commerce (LSPD)
Under Armour (UAA)
Canada Goose Holdings (GOOS)
iQIYI (IQ)

After-Market Earnings:

Applied Materials (AMAT)
Take-Two Interactive (TTWO)
Doximity (DOCS)
Adecoagro (AGRO)
DXC Technology (DXC)
Flowers Foods (FLO)

Wrap up

This is going to be an amazing day for the markets that present us with genuinely, many great opportunities to trade and realize a significant amount of gains. I am extremely excited to watch the markets continue to rally, and am hyped to see us continue to make new all-time highs on $SPY! Let’s realize a significant amount of gains, and have an easy time in the process. We are going to have an amazing day, so let’s make the most of it!

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

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HaiKhuu Daily Report 05/16/2024