HaiKhuu Daily Trading Report

Good morning, and happy Friday! I hope you all have all of your fingers remaining after the 4th of July and had a wonderful time resting and relaxing.

We have one more day left until the weekend, and this is going to be an extremely quick and fun day for the markets. $SPY is up at the time of writing this report and is actually trading ABOVE the previous all-time high.

I am expecting to see difficulties attempting to allocatate in the markets, but opportunities should be amongst us to ride the momentum and have an amazing time. Do not attempt to fight this trend, do not get greedy, and make sure to practice safe risk management!

This is going to be an amazing day for the markets, so let’s have some fun and end this week strong!

Good luck trading, and let’s see how high $SPY can go!

The updated $SPY daily levels are as follows:
Conversion Line Support: $547.14
Baseline Support: $535.10
Psychological Support: $550
Daily Cloud Support: $520.14

Thoughts & Comments from Wednesday, 07/03/2024

Wednesday was an amazing day for the markets. Despite being a half-day, the markets made a new all-time high, full of beautiful bullish momentum.

We started the day with $SPY opening at $548.66, down slightly from the previous close, but was met with a significant amount of bullish momentum as a result. $SPY moved up beautifully throughout the entire day.

Momentum was slow in the early morning as $SPY rejected $550 multiple times, but once we broke through the resistance, we continued to move up with significant strength.

During the back half of the day, IE, the final two hours of the trading day, $SPY continued to rally, going on to make the official high of the day, trading at $551.82, before ending the day trading at $551.46, up $2.45, or up 0.45%.

It was a beautiful time for the markets, closing at a new high and watching as $SPY made an all-time high in the process. Congratulations to anyone and everyone who was following our plays and is ready for what is going to be an amazing way to end the week!

Thoughts & Comments for Today, 07/05/2024

Today should be another fun day for the markets, but we are getting to a point where, honestly, I am starting to get a little bit concerned. There is so much strength in the markets, but we are starting to see weakness come from the cryptocurrency markets that may start to negatively impact the equity markets. I’ve been saying this for a while, and I will continue to maintain my stance. Crypto and Semiconductors are heavily overpriced and will be the leading catalyst for the markets to come down. Crypto at the moment is starting to sell off as a result of news regarding Mt. Gox paying back people who were on the platform, with everyone under the assumption that the people who will receive their crypto will instantly dump it on the open markets. At the time of writing this report, over the previous 24 hours, BTC has dropped 6%, ETH has dropped 9%, and BNB has dropped 12%. BTC is back below $55,000 and this is not the final nail in the coffin, but this is not looking good.

Please be careful and cautious while remaining level-headed about your allocations. With the ongoing risks of attempting to allocate long into the markets here, this is an extremely high-risk time to attempt to allocate despite the equity markets being extremely strong at the moment.

My sentiment in the market remains relatively the same, but with many new people reading these reports and joining the discord, I would like to explain it again.

At the moment, equities are strong overall, and I would not recommend attempting to fight the strength in the markets, but it is very difficult to attempt to allocate. Equities are heavily overpriced, and we are due for a correction, but it is just a matter of when that correction will happen. There is so much strength that it is almost impossible to predict what will happen, but I am confident that realistically, once we start to see a sign of reversal from both cryptocurrencies and semiconductors, it will be the time we see the markets drop heavily, and the result will be the beginning of the bear market. I would not advise you to attempt to enter any long positions here, while equities are heavily overvalued, but I do not advise you to attempt to be passive. This is an amazing opportunity for traders to attempt to capitalize on the markets; there is strength, volatility, and momentum that you can easily capitalize on and realize a significant amount of gains in an extremely short period of time.

Please continue to practice safe risk management when attempting to allocate in these market conditions, and do what you can to maximize your short-term potential!

TL;DR - Do not fight this market momentum, and do not allocate long into these market conditions, but do what you can to maximize the amount of gains you are able to generate here in the short term. Trade like there is no tomorrow, but be smart with your positions!

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, $COIN, $NVDA, $TSLA, $RIVN, $AMD, $AAPL, BTC, ETH, XRP, SOL

LONG OPPORTUNITIES:

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

Economic News for 07/05/2024

Unemployment Rate - 8:30 AM
Payroll Data - 8:30 AM

Notable Earnings for 07/05/2024

Pre-Market Earnings:

None Scheduled

Wrap up

This is going to be a fun way to end the week with a significant amount of not only strength but opportunity being amongst us. Please tread extremely lightly right now as we are starting to see weakness develop as a result of crypto taking a nose dive, but opportunities will be available, so trade and realize gains, just make sure to practice safe risk management. Let’s find some smart plays, and have a great time!

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

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HaiKhuu Daily Report 07/05/2024