HaiKhuu Daily Report 06/12/2024
Good morning, and happy Wednesday! I hope you all are excited about FOMC, volatility, and some amazing opportunities to actively trade!
Markets are going to be wild, and many traders are going to have a lot of fun in the process. We have CPI data coming out during the pre-market session, which is going to impact the markets, but FOMC and Jerome Powell will be speaking later today, which will impact the markets more than CPI. So please tread lightly in these market conditions, but prepare for what is going to be an extremely fun time not only to trade but will also give you the ability to realize a significant amount of gains!
Practice safe risk management in these market conditions, and let’s have an amazing time trading today!
Good luck trading, and let’s see another all-time high!!!
The updated $SPY daily levels are as follows:
Conversion Line Support: $527.68
Baseline Support: $525.15
Psychological Support: $500
Daily Cloud Resistance: $509.09
$SPY Daily Candles - [06/11/2024]
Thoughts & Comments from Yesterday, 06/11/2024
Yesterday was a rough day for many organizations in the markets but an amazing day for both $SPY and $AAPL. We watched as $AAPL absolutely ripped, making a new all-time high, and as a result, $SPY made an all-time high. Conditions were perfect… if you were $AAPL, but everywhere else was relatively rough.
Well, we started the day with $SPY looking rough during the pre-market session, with $SPY opening at $534, down from the previous close, and watched as $SPY absolutely dove for the first half hour of the trading day. We went on to watch as $SPY hit a low of day trading at $532.05, and that is where we alerted an entry reversal opportunity on both $SPY, $AMD, and $GME. All three plays worked out perfectly as the markets moved up accordingly from the bottom, and I am very proud of how perfect that timing was. $SPY rallied and hovered around $534 for the majority of the lunchtime lull, remaining relatively slow, chopping around, and remaining neutral.
Thankfully, as volume started to come back into the markets after the lull, $SPY was able to move up again, officially going green for the day leading into power hour. We watched as $SPY pushed up for one final time leading into close, making the official high of the day and a new all-time high trading at $537.01.
We ended the day with the highest $SPY close on record, trading at $536.95, up $1.30 a share, or up roughly 0.25%. It was a tough time to navigate attempting to trade as the large majority of the time spent in the markets yesterday was relatively neutral, but if you day traded and simply bought some strong positions, mostly when we alerted it, you should have been able to realize gains with significant ease. So, let’s see what the markets have in store for us today and try to capitalize on some opportunities together!
Heatmap - $SPY 06/11/2024
Thoughts & Comments for Today, 06/12/2024
Today is going to be an extremely volatile day for the markets. With major economic news and Jerome Powell speaking, only a moron would expect that conditions are not volatile. The best thing that you can realistically do in these market conditions is to participate and navigate accordingly. Please as always, make sure to practice safe risk management, but do what you can do to maximize your potential for profit.
The one thing I will warn you all about is attempting to trade through FOMC. There is going to be extreme volatility in the markets, which will make actively trading extremely difficult to do consistently. We are going to see some extremely large movements in the markets, and as a result, I am expecting many traders to be able to realize a significant amount of gains with ease, but at the same time, many traders are going to unfortunately generate a significant amount of losses and have difficulties attempting to trade.
For my allocations today, I do not anticipate actively trading around FOMC. I will be more focused on calling out opportunities for everyone in the Discord, so please make sure to tune into the call and have the chat pulled up around that time. I may look to actively scalp throughout the day, it is just a matter of what is going on at that time. Thank you all for understanding. These plays have been amazing recently, and I hope that you all were able to realize gains with us with confidence!
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, $AAPL, $GME, $NVDA, $INTC, $MSFT, $TSLA, $RIVN
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $BA
Economic News for 06/12/2024
CPI - 8:30 AM
NY Fed Inflation Expectations - 11:00 AM
FOMC Interest Rate Decision - 2:00 PM
FOMC Press Conference from Jerome Powell - 2:30 PM
Notable Earnings for 06/12/2024
Pre-Market Earnings:
Vera Bradley (VRA)
After-Market Earnings:
Broadcom (AVGO)
Dave & Buster's (PLAY)
Torrid Holdings (CURV)
Oxford Industries (OXM)
Wrap up
This is going to be another amazing day for the markets, so let’s see where CPI and FOMC take us today and hope that we continue to make new all-time highs. Opportunities are amongst us; it is now just a matter of seizing them and realizing as many gains as possible. Many traders are going to realize a significant amount of gains today, so let's continue to take advantage of these market conditions and strike while the iron is HOT!
Good luck trading, and let’s see how high $SPY can get today!