HaiKhuu Daily Report - 09/11/2024
Good morning, and happy Wednesday! The past couple of days in the markets have been extremely volatile, but it has been an extremely profitable time for some! I hope you all did not stay up too late watching the debate and are well-rested and ready for today! Markets are down slightly at the time of writing this report, but not down enough to cause any sort of major concern. As always, continue to tread lightly, as markets can easily sell off, but do what you can to take advantage of these conditions.
One thing that I will say is that we are due for a market breakout. Will it come today? No one knows. Simply follow the general market momentum, watch out for resistance levels, and remain skeptical but optimistic. Many traders are going to realize a significant amount of gains, so be smart and safe while attempting to navigate these market conditions!
Good luck trading today, and let’s watch $SPY breakout today!
The updated $SPY daily levels are as follows:
Conversion Line Resistance: $551.82
Baseline Support: $537.24
Psychological Resistance: $550
Daily Cloud Support: $544.77
Thoughts & Comments from Yesterday, 09/10/2024
Yesterday was an interesting and beautiful day for the overall markets. $SPY was up beautifully, down terribly, and recovered nicely. All within a single day. We were able to alert almost the perfect bottom and find some pretty great trades for us all to capitalize on! I hope you all were able to catch our alert on $SPY and realized some gains yesterday!
We started the day with $SPY opening up nicely green from the previous close, with $SPY trading at $548.31. Momentum was not great at open as we continually chopped around, but as the morning went on, we watched as $SPY slowly sold off, going and hovering relatively black and losing all of the gains that were generated early in the morning. Situationally, it was not the worst, and we popped up slightly before watching as everything sold off across the board. $SPY went on to make the official low of the day, trading at $543.43.
Situationally, at the bottom, many traders who had long had a difficult time, but thankfully, we were able to watch as $SPY recovered beautifully from the bottom and watched as an almost perfect alert at the bottom. We alerted an entry on $SPY at 12:24 pm EST, at $544.36, and watched as $SPY rallied throughout the afternoon, making for a wonderful and relatively relaxing grind up.
We ended the day with $SPY trading at $548.79, up $2.38 for the day, or up 0.44%, with an intraday bullish movement of roughly $0.50. Overall, for the day, it was a rough day as a result of the selling, but it was a day full of opportunity as anyone who attempted to capitalize on the sell-off and was made extremely easy to follow by simply following our shouts on $SPY! Hopefully, you all had a lot of fun yesterday and are ready for today!
S&P 500 Heat Map - 09/10/2024
Thoughts & Comments for Today - 09/11/2024
Things are going to be a little bit more confusing today, if I am just being honest. We have CPI data coming out during the pre-market session, which is going to heavily impact the general market sentiment and make writing this report a little more of a toss-up, as anything can happen, and we can go genuinely in any direction. If there is any advice for you all, it is to tread lightly and simply follow the market momentum. I am sure you are sick of hearing me say, “Follow the market momentum,” but it is literally that easy. If the markets are looking strong, go long, and if the markets are looking weak, short it. It is that simple.
This is going to be obviously easier said than done, but navigating these conditions is not going to be difficult. You just have to remain smart, level-headed, and rational the entire time. Some traders are going to be able to achieve this easier than others, but regardless of conditions, I believe that anyone who is listening to this report has an amazing opportunity to trade and capitalize on the market momentum with relative ease, and if you cannot do it with ease, to come to message us in the exclusive areas in the discord about it, and we would be more than happy to help you out!
One of the few organizations I am extremely interested in trading today is $JPM. With the weakness coming into the markets as a result of the interest rate talks going on right now, $JPM, in my opinion, is going to be a great candidate for a day trade. I would not advise attempting to capitalize on a scalp trade unless you are extremely right, quickly, but I think at once we find a bottom, right around $200 on $JPM, that you should be able to capitalize on it with relative ease and confidence, knowing that it has already sold off heavily, and the fact that $200 is a major support level that we can consistently be on the look out for. I am not 100% sure if I personally will enter into this play, but I will be watching out for it for the majority of the day, and as a result of that, I will do what I can to alert a possible entry if I see it.
Other than just making sure you are not a complete idiot when it comes to allocating into the markets today, please practice safe risk management. Many traders have been taking on too much leverage in the markets over the previous couple of weeks despite market conditions not being favorable enough to add more exposure. This is just something you have to consider in these market conditions and make sure that you are scalping into your trades properly and that you are not overleveraging your account in the process.
Be smart and safe while attempting to allocate today, but take advantage of these conditions. I personally am extremely excited to see where the markets are going from here, and I am very excited to see that market conditions are becoming more favorable and easier to navigate. I’ll try my best to actively scalp throughout the day today, but no promises!
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, $JPM, $ORCL, $NVDA, $AMD, $INTC, $AMZN, $TSLA, $AIFF
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $INTC
Economic News for 09/11/2024 (ET):
Consumer Price Index - 8:30 AM
Core CPI - 8:30 AM
Notable Earnings for 09/11/2024
Pre-Market Earnings:
Designer Brands (DBI)
Hepsiburda (HEPS)
Vera Bradley (VRA)
After-Market Earnings:
Lesaka Technologies (LSAK)
Oxford Industries (OXM)
Wrap up
This is going to be an extremely wild day for the overall markets with a significant amount of difficulty remaining consistent across the board. Many traders are going to have an amazing time, while other traders are unfortunately going to realize some losses. Make some smart decisions and do what you can do to maximize your profit potential, and just have fun in the process. I think that many traders will have a fun time attempting to trade today, so let’s see what the pre-market data does for the markets and have a great time trading!
Good luck trading, and let’s see some strength in the markets!