HaiKhuu Daily Trading Report

Good morning, and happy Friday! I hope you traders are all extra excited about today because this is triple witching. $SPY is down during the pre-market session and market conditions are going to be extremely volatile due to the sheer quantity of contracts expiring today. This will be a record-setting expiration date in terms of the amount of premium that will expire today.

Please tread lightly, as this will make market conditions volatile and difficult to navigate consistently. However, we will be presented with opportunities to trade throughout the day and realize gains. I am expecting that the majority of traders' performance today will be mixed, with some individuals able to make some life-changing money while others are realizing significant losses.

The biggest thing I want you all to do is practice safe risk management. The conditions will blow up many accounts today, so please protect your bottom line and take on an appropriate amount of risk. If you cannot trade confidently, just remember that cash is still a position!

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

The updated $SPY daily levels are as follows:
Conversion Line Support: $541.09
Baseline Support: $534.24
Psychological Support: $500
Daily Cloud Support: $509.69

Thoughts & Comments from Yesterday, 06/20/2024

Yesterday was a disgustingly tough day to trade, with opportunities presented but difficulties all around the board. $SPY started the day looking beautiful, but we got slow and choppy conditions, difficult momentum to capitalize on, and overall gross day for the markets. A day like yesterday does not concern me at all in any way, shape, or form, but it is just tough when market conditions are less than optimal to trade. Regardless, we went 5/5 on perfect alerts yesterday, so hopefully, you were able to catch some of the plays that we shouted out!

So we started the day with $SPY during the pre-market session, making an unofficial all-time high on $SPY above $551, but came down into the open, where we started the day with $SPY trading at $549.48. Conditions were not ideal in any way, shape, or form, but at the same time, we were provided with many phenomenal opportunities not only to trade in many capacities. $SPY came down slightly after opening before quickly popping back up and making a new all-time high while testing $550. We were able to break above $550 for a brief moment before rejecting that resistance and coming down for the rest of the day.

After making the official all-time high at $550.12, conditions were not ideal. We came down going into the lunchtime session and continued to chop around $549 throughout the entirety of lunch until volume and momentum came back into the markets. $SPY quickly dropped, and we went on to make new lows of the day, dropping for almost two hours straight. We went on to make the official low of the day with $SPY trading at $545.18.

Thankfully, during the back half of the afternoon, $SPY was able to break out from the bottom to recover a portion of the losses that were incurred, but conditions remained extremely slow and choppy until the end of the day. We ended the day with $SPY trading at $547.00, down $1.50 from the previous close or down 0.27%. There were many opportunities to scalp and trade throughout the day, but it was tough navigating these choppy market conditions.

Hopefully, you all did alright yesterday, as market conditions were extremely favorable to trade, and many traders realized a significant amount of gains with ease in the process. Life is good, and I hope that you all were able to see the positions and alerts shouted out yesterday. Life moves on, and so do the markets. So let’s find some more sick opportunities today, and have an amazing time in the process.

Thoughts & Comments for Today, 06/21/2024

I just want to start this part of the report by saying that today is going to be a tough day to navigate and that many people are going to get whipped around during this time. Specifically, if you are a newer trader in the markets, please tread extremely lightly. Power hour is going to be deadly as many accounts that are overleveraged into 0-dte option contracts will inevitably blow up. Please tread lightly, but know that this should be an amazing day with consistent opportunities to trade and realize gains. It is just a matter of remaining consistent and practicing safe risk management.

The one thing that concerns me in the short term is the amount of bearish momentum we are seeing during the pre-market session. I am not overly concerned about the movement down, but I am concerned about the impact of the sentiment in real-time. If markets continue to remain less than optimal, I am not expecting to see a recovery today, but if we continue to sell off, we could very easily see a relatively larger movement down in the markets, where $SPY could honestly go on to test the daily conversion line support. Do I want this to happen? Obviously not, but I think there is an extremely high likelihood that $SPY will continue to sell off during the trading day, and I would advise extreme caution with all of the sentiment that is live in the markets right now. If we start to tank, things can get disgusting extremely quickly.

If you are attempting to trade today, my best recommendation for you is to actively scalp and day trade the momentum in the markets. If the markets are bearish, follow the bearish momentum until you see a sign of reversal in the markets, and ride that momentum. If the markets start trending up, follow the momentum until you see a sign of reversal in the markets, and ride that momentum. It is obviously easier said than done, but fighting the ongoing market momentum is a catalyst to get absolutely shot in the process of trading.

This is not a day to get greedy because many traders will, unfortunately, get absolutely burned in the process. Look to have some fun, but tread extremely lightly and keep your fists up at all times.

For my allocation today, I will say that I do not intend on trading today, but I fully intend on assisting Discord through as many plays as I can today. I will be taking a couple of meetings during the lunchtime session when there is a lull in the markets, so I apologize for that. But I will be consistently on the look out for opportunities to trade and realize gains in the process. This is going to be an extremely fun day to attempt to trade, so tread lightly, but let’s realize some gains together!

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, $NVDA, $AAPL, $MSFT, $AMZN, $GOOGL, $TSLA, $ULTA, $RIVN

LONG OPPORTUNITIES:

Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $BA

Economic News for 06/21/2024

S&P Global US Manufacturing PMI - 9:45 AM
S&P Global Composite PMI - 9:45 AM
S&P Global Services PMI - 9:45 AM
Existing Home Sales - 10:00 AM

Notable Earnings for 06/21/2024

Pre-Market Earnings:

CarMax (KMX)
FactSet Research (FDS)

Wrap up

Again, this is going to be an extremely difficult day to navigate unless we get an extremely large directional move. Please tread lightly today as it is triple-witching, and there is going to be a lot of crazy volatility in the markets. Tread extremely lightly, practice safe risk management, and attempt to realize gains as consistently as possible. Many people will be able to realize a significant amount of gains today, so let’s have some fun and realize some gains!

Good luck trading, and let’s see where $SPY is headed today!

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HaiKhuu Daily Report 06/21/2024