HaiKhuu Daily Report 07/03/2024
Good morning, and happy Wednesday! I didn’t realize today was Black Friday because market hours are half off!
This is just a reminder that today is a half-day, and the markets will officially be closed at 1 p.m. EST & the markets are CLOSED tomorrow! Expect to see irrational movements in the markets, volatility, and difficulties navigating. Risky traders have a chance of realizing a significant amount of gains while attempting to trade today, while other people get absolutely slaughtered in the process.
There is an extremely high likelihood that $SPY will make a new all-time high today, so prepare accordingly, but tread lightly, as this is a half-trading day!
Good luck trading, and enjoy your 4th of July!
The updated $SPY daily levels are as follows:
Conversion Line Support: $546.36
Baseline Support: $534.32
Psychological Resistance: $550
Daily Cloud Support: $534.32
$SPY Daily Candles - [07/02/2024]
Thoughts & Comments from Yesterday, 07/02/2024
Yesterday was an insane day for the markets with beautiful bullish momentum. Opportunities were among us, and we were able to predict not only the extremely bullish movement but we called out a perfect alert on $AMZN to make a new all-time high and a beautiful $11 rally on $TSLA. I really hope that you were able to catch the move and realized a significant amount of gains with us in the process!
We started the day with $SPY opening at $543.72, market conditions were looking weak, but we saw multiple signs of a bullish breakout happening during the pre-market session. We saw minimal downside at open, as $SPY quickly made the official low of the day trading at $543.65.
After open, there was continued bullish momentum that we could have all easily capitalized on as $SPY pushed up throughout the entirety of the trading day, only slowing down once we started to see some slight bearish momentum during low volume during the lunchtime lull, but we broke out with strength and confidence as volume came back into the markets, and we continually hit new highs of the day.
The entire afternoon was straight bullish momentum, where there is honestly not much to be said about it, other than the fact that conditions were absolutely beautiful during that time.
We ended the day with $SPY pumping into close, making the official high of the day at close price, ending the day at $549.01, up $3.67 for the day, up $3.67, or up roughly 0.67%. It was a beautiful day for the markets with many amazing opportunities not only to trade, but to realize gains in the process. I hope you all had a wonderful time, and that you are ready for a shot at another new all-time high!
Heatmap - $SPY 07/02/2024
Thoughts & Comments for Today, 07/03/2024
Today is going to be an absolutely WILD day for the markets with a significant amount of economic news that you all need to account for while trading, despite this being a half day for the markets. Many traders are going to have a lot of difficulties actively trading, as today should be a low momentum, low volume day for the markets. But just remember, because it “should” be low volume does not mean it will be guaranteed. This is a warning that historically, days like today are gross for the markets, but we all know that the markets can remain irrational and have irrational movements with ease. So please tread lightly during these market conditions.
I would not advise anyone to actively attempt to trade today as conditions are going to be very subjective and difficult to capitalize on, but thankfully, opportunities are going to be amongst us. If you are attempting to trade, the best time to trade will be within the first hour or two of the day. People will not be actively watching the markets as much outside of these hours, and that is when trading will become extremely inconsistent and difficult to navigate. I’m obviously not your father and can’t tell you what to do, but that is just my two cents when it comes to this. So please understand the conditions, and let’s do what we can to maximize our profit potential and realize a significant amount of gains in the process.
For my allocations, I will not be attempting to trade at all today, but I still will be on the look out for opportunities for you all. Again, there is going to be such a toss-up as a result of the economic news coming out as well as the lower volume due to the half day that trading will be extremely difficult to do with confidence unless you are blindly allocating or ignorant. So please be smart while attempting to allocate today and protect your bottom line!
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, $TSLA, $NVDA, $MSFT, $AAPL, $GOOGL, $AMZN, $AMD
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $BA
Economic News for 07/03/2024 (ET):
Markets will be closing early at 1:00 PM
Fed’s Williams Speaks - 7:00 AM
ADP Nonfarm Employment Change - 8:15 AM
Jobless Claims - 8:30 AM
Trade Balance - 8:30 AM
S&P Global Composite/Services PMI - 9:45 AM
ISM Non-Manufacturing PMI - 10:00 AM
Durable Goods - 10:00 AM
FOMC Meeting Minutes - 2:00 PM
Notable Earnings for 07/03/2024
Pre-Market Earnings:
Constellation Brands (STZ)
After-Market Earnings:
None Scheduled
Wrap up
Let’s see where the markets take us on this half-day for the markets. We have a significant amount of economic news coming out on a shortened day for the markets, making conditions extremely volatile and unpredictable. Tread lightly and prepare accordingly because this day is going to fly by. Please make sure to practice safe risk management and protect your bottom line. The only thing that needs to explode right now is some gunpowder in a sketchy Chinese-made cardboard tube, not your portfolio. Enjoy your day and a half away from the markets, and I’ll see you all on Friday!
Good luck trading, and let’s see what explosions happen in the markets!