HaiKhuu Daily Report - 09/10/2024
Good morning, and happy Tuesday!!! Happy $GME day. We're going to see some volatility in the markets and a lot of confusion coming from retail as a result of this, but that is just the beauty of life. I hope you all are excited about these market conditions, because if I am just being completely honest, I know I personally am very excited about today!
Markets at the moment are conflicted on the direction they want to go, as we’ve broken back into he daily cloud, but as a result of the momentum in the markets we saw a couple of weeks ago, the daily cloud is going to be conflicted for the rest of the month, invalidating the support levels just slightly, but regardless, the markets are going to be extremely confused today making it difficult to trade with confidence and conviction. Do what you can do today to maximize your potential, but tread lightly on these conditions. Markets can and will go crazy during this time, so make the most out of these conditions!
Many traders should have zero difficulty realizing gains today, mostly if they follow some of our plays, so let’s see what we can produce during a confusing time for the markets!
Good luck trading today, and let’s see where the markets take us today!
The updated $SPY daily levels are as follows:
Conversion Line Resistance: $551.82
Baseline Support: $537.24
Psychological Support: $540
Daily Cloud Support: $541.76
Thoughts & Comments from Yesterday, 09/09/2024
Yesterday was a beautiful yet tough day for the overall markets. Hopefully, you all were able to capitalize on the momentum in the markets with us and nailed the 4/4 on $AAPL alerts yesterday. Many traders realized a significant amount of gains on those human psychology plays, and it worked out like a charm. It was an amazing day for the markets, an even better day for those who followed us on our intraday plays, and a great day for everyone in the community!
We started the day with $SPY opening beautifully green, trading at $544.70, up beautifully from the previous close on Friday, and traders were optimistic. We watched as $SPY continued to slowly move up throughout the entire morning, making a relative high of the morning trading at $546. Conditions at the top were nice, but it wasn’t anything of any major significance, and we watched as there was a clear sign of a reversal at the top, selling off into the lunchtime lull, where $SPY went on to make the official low of the day trading at $542.68.
Conditions at the bottom were not great, but it did provide us with an amazing opportunity to load up on $AAPL and go long the markets to watch a beautiful recovery in the markets, leading into the Apple event, where $SPY went on to make the official high of the day trading at $547.71, and watched as $AAPL recovered roughly $5 from the bottom, even going green at the high of the day!
The general markets slowed down and sold off slightly going into the back half of the afternoon, which is unfortunate, but in reality, conditions could have been significantly worse, mostly as markets came down while Apple sold off after the event, but that is life, and it was almost perfectly predicted that the markets would have sold off then regardless. So, it will be extremely interesting to see where the markets go from here and do what we can to maximize our profit potential in the shortest period of time.
We officially ended the day with $SPY trading at $546.41, up $6.05 for the day, or up 1.12%. On an intraday basis, $SPY moved up just shy of $2, but in reality, with the movement we saw happening in real-time for the markets, it felt that a lot more happened in general than just a couple of dollar move, but hey. That’s just life. I hope you all were able to have a wonderful time and realized a significant amount of gains with our team trading Apple yesterday!!!
S&P 500 Heat Map - 09/09/2024
Thoughts & Comments for Today - 09/10/2024
Today is honestly setting up to be a day full of generalized confusion. Market conditions are not looking extremely optimal at the time of writing this report, as $SPY is relatively black for the pre-market session, and with significantly less news than a typical day, I think as a result of this, we should see a choppy but directional move in the markets. Does this mean I will be right? I have zero clue; your predictions are just as valid as mine are. But, what I can say is that during this time, many opportunities will be available to actively scalp and realize gains with relative confidence.
There will be a couple of heavy movers today, and the one play that will catch many retail traders’ eyes is the fact that $GME earnings are coming up today after hours. If I am just being completely honest, I will say that I am biased when I say this. Please do not attempt to trade $GME during this earnings season. I may have to eat my words after there’s news about some sort of BS that causes them to rally 30-50-100% as a result, but this, in my opinion, is a gamble that is NOT WORTH taking. But, with that all said, I do believe that attempting to actively scalp and day trade $GME on an intraday basis is going to be extremely difficult but extremely profitable for those who get lucky and are able to allocate properly.
Please be extremely careful in these market conditions. $SPY is about to break out of the daily cloud, and the direction that it goes from here is going to be unpredictable and difficult to be confident in. Either markets are going to rally, and $SPY gets back to $550, or we will watch as $SPY quickly snaps back to the $540 support, testing people’s conviction in both the markets and in themselves.
Regardless of what happens today in the markets, please practice safe risk management. Trading will be extremely inconsistent, mostly if we see a significant amount of weakness and confusion in the markets, and traders will get chopped around as a result. Please tread lightly and protect your bottom line. If you take on a significant amount of risk today and are wrong, you are about to get shot in the foot.
For my allocations today, I will say this with confidence, I am not comfortable attempting to trade right now, with the way market conditions are trending during the pre-market session, I am not getting a good read on the markets. I will wait until an opportunity presents itself, or if I see a bullish trend in the markets, I’ll do what I can to capitalize on the opportunities that are available to us. It will be fun to see where the markets take us on a day like today, and it will be more fun to do what we can to maximize our profits. I’ll try my best to find you guys some plays, but they will not be as consistent as the Apple alerts sent yesterday!
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, $NVDA, $TSLA, $INTC, $AIFF, $GME
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $INTC
Economic News for 09/10/2024 (ET):
Redbook YoY - 7:55 AM
Notable Earnings for 09/10/2024
Pre-Market Earnings:
Academy Sports (ASO)
Comerica (CMA)
After-Market Earnings:
GameStop (GME)
Dave & Buster's (PLAY)
InnovAge Holding (INNV)
Petco Health and Wellness (WOOF)
Bioceres Corp (BIOX)
Wrap up
Hopefully, market conditions only continue to get better today, but if I am just being honest, this is seeming more and more like a toss up the more that I think about it. Please continue to tread lightly, but take advantage of this movement in the markets. There is going to be a lot of difficulty, but thankfully, there is going to be a lot of opportunities to trade, so be smart, be safe, and realize a significant amount of gains today. Many traders should have a lot of fun, so be one of those traders!
Good luck trading, and let’s see where the markets take us today!