HaiKhuu Daily Report 07/15/2024
Good morning, and happy Monday! This has been a WILD weekend with the first public presidential assassination attempt in over 40 years. Vegas odds have moved heavily in Trump’s favor, and the markets are looking primed for a rally. I hope you all had a wonderful weekend and are ready for what should be an extremely fun week for the markets! $SPY is up at the time of writing this report, and I believe that there is an extremely high likelihood that we make a new all-time high here in the near future. Continue to tread lightly this week, as this is the beginning of the earnings season, and we have major economic news coming out this week!
Events you should watch out for:
Monday:
Goldman Sachs Earnings (Pre-Market)
Jerome Powell Speaking (Noon EST)
Tuesday:
Bank Of America Earnings (Pre-Market)
Import/Export Price Index & Retail Sales (8:30 AM EST)
Wednesday:
Housing Starts & Building Permits (8:30 AM EST)
Thursday:
Blackrock Earnings (Pre-market)
Netflix Earnings (After-hours)
Jobless Claims (8:30 AM EST)
Friday:
Bostic Speaking (12:45 PM EST)
If you’d like to get a full preview of all of the economic news and earnings of this week; check it out HERE!
Again, this is going to be an extremely fun week for the markets, with many great opportunities to trade and realize a significant amount of gains in the process. I hope you all are excited and ready for an insane week! Please make sure to practice safe risk management and have some fun!
Good luck trading, and let’s see some NEW all-time highs on $SPY!
The updated $SPY daily levels are as follows:
Conversion Line Support: $509.06
Baseline Support: $508.86
Psychological Support: $550
Daily Cloud Support: $517.61
$SPY Daily Candles - [07/12/2024]
Thoughts & Comments from Last Week
Last week was a volatile time for the markets that presented us with NEW all-time highs and opportunities to realize significant gains or get burnt heavily in the process. There was genuinely no in between as conditions were extremely volatile, making it difficult to trade with confidence, but the momentum was beautiful, and many traders were able to make a significant amount of gains. We saw weakness coming out multiple times from the megacap stocks, but strength in the general markets that we’ve not seen in a while!
We started the week with $SPY trading at $555.45, and conditions were looking pretty alright. We started the week relatively slow, not doing much on Monday or Tuesday, as we remained relatively neutral. We continued to make new all-time highs but did not break out or have any significant movement during that time. Conditions were good, but they weren’t great until Wednesday, when markets RIPPED on CPI data, making a new all-time high in the process and sending the markets into a state of both confusion and euphoria.
We started Wednesday with $SPY opening the day trading at $557.07 and watched as it continued to rally throughout the entirety of the day, breaking above the $560 resistance level and making the official high of the day and relative all-time high trading at $561.67. Conditions were looking beautiful and extremely optimistic during that time, and we watched as many traders realized a significant amount of gains. Despite all of the strength that was generated in the markets though, $SPY did start to sell off on Thursday, making a NEW all-time high trading at $562.33, before selling off in one of the largest selling events we’ve seen this month, as $SPY sold off, coming back down to right where we were prior to the pump on CPI, making the official low of the day trading at $555.83, only up ever so slightly for the week.
Thankfully, on Friday, we did rally again, going on to make new all-time highs in the process, and providing traders with an AMAZING opportunity to trade with confidence. $SPY started the day trading at $557.69 and continually rallied throughout the morning, only to slow down leading into the lunchtime lull, but watched as $SPY rallied again as volume and optimism came back into the markets, making the official high of the day, high of the week, and all-time high trading at $563.67. Conditions were beautiful, traders were extremely profitable, and optimism was at a relative high. We did watch as $SPY came back down ever so slightly into close, officially ending the week trading right under the $560 resistance level, ending the week at $559.99, up $3.50 on Friday, and up roughly 0.8% throughout the entire week.
I hope that you all were able to capitalize on some phenomenal opportunities that were presented to us, watched out for a bunch of the alerts, and were extremely profitable in the process. The markets were great, and life was even better. I hope that you all are extremely excited to see what the markets have in store for us today. As I said before, we are going to see some phenomenal opportunities today, so let’s have some fun and realize some gains!
Heatmap - $SPY 07/12/2024
Thoughts & Comments for Today, 07/15/2024
Today, in my opinion, is going to be one of the best trading days that we will see this entire year. Does this mean we are going to be hyper-bullish? No clue, but all I know is with 100% confidence that people will be coming to the markets, deploying capital, and wanting to trade. Whatever you do, do NOT fight this trend. Do what you can to follow the momentum and realize as many gains as possible. This is going to be a great day with many phenomenal opportunities to trade and realize gains.
The one thing that I will advise though, is to make sure that you are practicing safe risk management and doing what you can to maximize your profits. Look to actively trade as much as possible today, where possible, and maximize your profits in the process. There are going to be many great opportunities to trade, and looking to follow the momentum is going to be an easy trade. Lots of eyes are going to be on $DJT today as a result of the assassination attempt, and I would not advise the majority of traders to attempt to trade it, but it is one of those scenarios where, realistically, if you are a confident trader, and can quickly scalp, you should have no problem at all realizing gains with ease.
For everyone else, watch out for either $TSLA or $NVDA. Both are going to be extremely strong and will provide us with the ability to trade and realize gains with confidence.
Just continue to scalp where possible, and do not get greedy. Take your profits quickly if you want, and make sure to let your runners run. I would set a stop in guaranteed profit and let your exposure continue to run when you can to allow the positions to continue to move, as I am expecting to see a large directional move today.
The biggest thing I want to make sure though, is that you all are continuing to retain the exposure you have in the markets and letting your positions run in the way that they deserve to run in the short term. Don’t get greedy, but make sure to do what you can to maximize your profit potential. As I have said before, I believe that this is going to be one of the best trading days we will see this year, so continue to maximize your profits and have some fun in the process!
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, $INTC, $DJT, $TSLA, $NVDA, $AAPL, $MSFT
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $INTC
Economic News for 07/15/2024 (ET):
NY Empire State Manufacturing Index - 8:30 AM
3&6 Month Bill Auction - 11:30 AM
Fed Chair Powell Speaks - 12:00 PM
Notable Earnings for 07/15/2024
Pre-Market Earnings:
Goldman Sachs (GS)
Guaranty Bancshares (GNTY)
After-Market Earnings:
CrossFirst Bankshares (CFB)
FB Financial (FBK)
Wrap up
This is going to be a fun week for the overall markets; let’s take advantage of the opportunities presented to us to realize significant gains and maximize our profits. As always, please make sure to tread lightly and practice safe risk management, but with the markets primed to absolutely go on a tear today, please take advantage of these conditions and have a lot of fun in the process!
Good luck trading, and let’s see where $SPY takes us today!