HaiKhuu Daily Trading Report

Good morning, and happy Thursday! We just made a NEW all-time high on $SPY and a NEW all-time high on $NVDA. We are at the lower end of neutral on the fear and greed index, so prepare accordingly because, with this bullish sentiment in the markets, we can easily continue to break out! We all should realize a significant amount of gains attempting to trade today, so let’s have some fun together. Obviously, you should tread lightly and practice safe risk management, but look to take advantage of the momentum in the markets, and let’s realize some gains!

Do not fight the strength in the markets, and do what you can do to maximize your potential! This is going to be an amazing day.

Good luck trading, and let’s see where $NVDA takes us!

The updated $SPY daily levels are as follows:
Conversion Line Support: $526.53
Baseline Support: $517.12
Psychological Support: $500
Daily Cloud Support: $505.77

Thoughts & Comments from Yesterday, 06/05/2024

Yesterday was an absolutely amazing day for the overall markets, with strong bullish momentum and opportunities consistently presented to us! $SPY continued to push new all-time highs, and this strength provided us all with a great opportunity not only to trade but also to realize gains consistently.

We started the day with $SPY opening at $530.76. Conditions were extremely strong, but we saw slight weakness in the morning before we ultimately decided to rally. During the first half hour of the day, $SPY went on to make the official low of the day, trading at $528.75, but then was able to quickly recover. Leading into lunch, $SPY was displaying a significant amount of strength, officially going green on an intraday basis, and we watched as momentum slowed down significantly in the process, hovering around $SPY $532. Thankfully, as the volume and momentum started to come back into the markets, $SPY continued to rally and display confidence in the process.

In the afternoon, we watched as $SPY continued to rip, getting to the point where we were testing the previous all-time highs. Afterward, we ended up continually creating new all-time highs as $NVDA continued to rip in the process.

Power hour was rather uneventful, but we did make the high of the day and a NEW official all-time high on the final candle of the trading day, with $SPY trading at $534.68. Conditions were far from perfect but still remained ideal. We ended the day with $SPY up $6.28 for the day, or roughly 1.19%, displaying strength, confidence, and optimism. $NVDA, on the other hand, ended the day trading at $1,224.40, up $60 for the day, or up roughly 5.2%

Overall, it was an amazing day for the markets, with consistent opportunities presented to anyone and everyone involved. I hope that you all were able to ride the momentum in the markets, and realized some gains in the process. Many traders realized a significant amount of gains while attempting to trade yesterday, and it was an amazing time!

Congratulations to everyone, and welcome to Summer 2024!

Thoughts & Comments for Today, 06/06/2024

Today is setting up to be another genuinely amazing day for the markets, and I hope that you all are excited and prepared for today! $SPY is looking strong, $NVDA is looking strong, and the markets are PRIMED to rip from here. People want to be bearish in these market conditions, but we are displaying genuine strength in the markets right now, and opportunities are presented to us. Now, it is a question of whether you want to follow the momentum and realize gains. Or do you want to fight this trend and get burnt? There is only one right answer to this.

There are multiple reasons why I am bullish and confident in these market conditions. I’ve said this before, and I will say this again. Retail is continuing to come back into the markets, and as a result, we are looking at what should be the continued inflow of capital in the markets. Assuming that inflow continues at the rate that it is, we should only continue to see strong bullish momentum throughout the summer leading into the election season. The question that I do not know the answer to is how much capital is on the sidelines right now from the people who’ve watched the entirety of this run and are looking to deploy capital but are waiting until there is a minor pullback. I believe once we see a pullback that is strong enough to convince people to deploy capital but not strong enough to scare traders out of the markets, we will continually push NEW all-time highs and move to prices that honestly seem unfathomable.

Just continue to practice risk management in these conditions and protect your bottom line, but look to maximize opportunities where available. Traders may have a difficult time assuming choppy or bearish market conditions, but I believe that the large majority of traders will continue to have an amazing time and realize gains extremely consistently.

Look to follow the momentum in the markets. There is no reason why you should look to “catch” the next runner. No offense to anyone, but it is always better to simply ride the momentum wave and realize gains than pretend that the markets are a game of D&D, and you pretend to be a wizard.

Please be cautious if you are attempting to allocate into $NVDA now, though, it will provide us with some amazing trading opportunities, but at the same time, phenomenal trading opportunities do not mean that an organization is a stronghold. My sentiment remains from the beginning of the week, where if you are already in $NVDA, look to ride the momentum and inflow that is happening as it should only continue to move up going into the stock split, but at the same time, if you are attempting to allocate here, I would advise against it as a result of the risk involved with allocating at the top. Do not try to fight $NVDA, do not attempt to short $NVDA. If anything, wait until after the split and see the momentum afterward. If $NVDA has an inkling of red during that time, we will see that many traders will sell off before institutions attempt to buy up the dip. That would be a time that I am confident in attempting to short $NVDA.

For my allocations today, I plan on keeping my plans simple. Make some money. I am extremely happy that $LULU has moved up as a result of strong earnings beating all expectations. I will be looking for a possibility to exit that play, and will be looking to capitalize on the strength that is provided with semiconductors. I still have not allocated into $INTC long, but this is the time when I am preparing accordingly. If $NVDA dives post-split, then I will look to pick up some $INTC when there is blood in the streets.

Again, please practice safe risk management when attempting to trade today, but do everything in your power to maximize the gains you can generate!

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, $LULU, $NVDA, $INTC, $AMD, $TSLA, $RIVN, $AAPL, $MSFT

LONG OPPORTUNITIES:

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

Economic News for 06/06/2024

Jobless Claims - 8:30 AM
Labor Costs - 8:30 AM
4-Week Bill Auctions - 8:30 AM

Notable Earnings for 06/06/2024

Pre-Market Earnings:

NIO (NIO)
Ciena Corporation (CIEN)
J.M Smucker (SJM)
Toro Company (TTC)
ABM Industries (ABM)
Big Lots (BIG)
SecureWorks (SCWX)
QuantaSing Group (QSG)

After-Market Earnings:

DocuSign (DOCU)
Samsara (IOT)
Rent the Runway (RENT)
Braze (BRZE)
Vail Resorts (MTN)
Mission Produce (AVO)
Concrete Pumping (BBCP)
Limoneira Company (LMNR)
Duckhorn Portfolio (NAPA)
Quanex Building (NX)

Wrap up

This is going to be another amazing day for the general markets. Let’s do everything in our power to maximize the amount of gains we are able to generate and ride the momentum. Many traders are going to be presented with easy and consistent opportunities throughout the day, so seize any opportunities that are presented to you, ride the momentum, and realize some gains! We are all going to have an amazing time, so make sure to participate!

Good luck trading, and let’s see NEW All-Time Highs!!!!

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HaiKhuu Daily Report 06/06/2024