HaiKhuu Daily Report - 09/17/2024
Good morning, and HAPPY NEW ALL-TIME HIGH????? $SPY is extremely close to that NEW all-time high, being less than $1 away when writing this report. Market conditions will be interesting today as we attempt to achieve that level, and afterward… anything can happen.
So, this will be exciting to watch as we hopefully claim this level and continue to move up. Please continue to capitalize on these market conditions, but tread extremely lightly and practice safe risk management. Many traders are going to be able to generate a significant amount of realized gains in a short period of time today. So tread lightly, but seize any opportunity that is presented to you.
Do not forget that the interest rate decision is coming out tomorrow, which will bring volatility into the markets. Prepare accordingly for this, but worry more about today. We will deal with it tomorrow.
Good luck trading today, and let’s see that NEW all-time high on $SPY!!!
The updated $SPY daily levels are as follows:
Conversion Line Support: $551.28
Baseline Support: $546.38
Psychological Support: $560
Daily Cloud Support: $535.14
Thoughts & Comments from Yesterday - 09/16/2024
Yesterday was a tough yet beautiful day for the overall markets. Conditions were choppy and extremely difficult to navigate, but regardless of whether they were difficult or not, we inched closer to making a new all-time high. Conditions continued to remain optimal as traders were presented with some opportunities to actively realize gains.
We started the day with $SPY opening at $561.74, quickly selling off at open, going on to make a relative low trading at $561, before going and making a relative high trading right under $563. There was a lot of whiplash through early in the morning, as within the first hour of the day, we watched as $SPY went on to make the official low of the day, trading right below that $560 support at $559.90. Conditions at the bottom were not the best, but it provided us with an opportunity to load up at a support level, as $SPY decided to slowly inch and chop around until the early afternoon. Lunchtime was a terrible time to trade, as $SPY was range-bound and really did not provide us with any opportunity to trade with confidence or realize any sort of significant gains.
Thankfully, market conditions only continued to get stronger throughout the afternoon. We broke out of that consolidation and quickly moved up as a result.
Conditions did slow down again right around 2 PM EST, after $SPY broke out, but we watched as conditions continued to remain optimal, as $SPY pushed up, leading into close. We ended the day with $SPY trading at $562.84, up $0.83 for the day, or up 0.15%.
It was definitely a tough day to navigate, but opportunities were genuinely amongst us, and my god, did we take advantage of those conditions. I am very happy with the performance of some of our plays yesterday, and now it is just a matter of being able to capitalize on those same opportunities today! Congratulations to anyone who got in on my $INTC alert in the VIP room; that was an exclusive alert there, and not even 10 minutes after the alert, we watched as $INTC ripped up and watched as our contracts went ITM as a result!
S&P 500 Heat Map - 09/16/2024
Thoughts & Comments for Today - 09/17/2024
Today is setting up to be another extremely profitable day for the markets. With $SPY getting extremely close to making a new all-time high, I do not see why traders should not do what they can to maximize profit potential and do what they can to realize a significant amount of gains today. I do believe conditions are going to be extremely choppy, mostly leading into the new all-time, but I do believe that once we can break that level and break out, the markets should only continue to move up. Will that remain the same and optimal throughout the rest of the day and in the near future? Who knows but all I know is that today will be an absolutely insane time for the markets, with opportunities consistently presented to us. So watch, tread lightly, and be smart.
My advice for the large majority of you all, is to simply ride the market momentum. There will be opportunities to actively trade today, but being able to actively trade today versus simply holding and capitalizing on the markets with some strong plays is all that matters to me. You make some smart decisions and put in the least amount of effort possible to realize gains with ease. It almost sounds like a no-brainer, mostly when I am expecting to see choppier market conditions that will stop out many scalpers. So, look for an opportunity to capitalize on these market conditions and simply ride the momentum. Find a good play, buy, hold, and let it move.
One sector that I think should do well today is semiconductors. With the strength in the markets, Semis are displaying short-term weakness. If/When they join the party, as a result of that, I believe that that will secure a new all-time high for the markets. And as weird as this sounds, $INTC might be the leading cause for why semiconductors ultimately go up today!
For my allocations today, I will say that a portion of my portfolio is currently allocated to Boeing, and another chunk is currently allocated into $INTC and $INTC leaps. I alerted those leaps 10 minutes before markets closed yesterday, and as a result of the movement after hours, I may look to close out the leaps and realize some short-term gains as a result. Regardless, my plans are to simply not attempt to trade today, but to simply hold strong positions that I picked up yesterday and capitalize on the momentum in the markets. I may add more around open, but at the time of writing this report, I will say I have zero intention of doing 100+ active scalps today.
I am extremely excited about today, and I genuinely hope that you all are, too! This will be a great time for the overall markets, and I hope you all have some fun today!
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, $BA, $INTC, $NVDA, $RIVN, $TSLA, $AAPL
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $INTC / $BA
Economic News for 09/17/2024 (ET):
Retail Sales - 8:30 AM
Industrial Production - 9:15 AM
Business Inventories - 10:00 AM
Notable Earnings for 09/17/2024
Pre-Market Earnings:
Ferguson (FERG)
After-Market Earnings:
No Earnings Scheduled
Wrap up
Hopefully, we can watch as $SPY makes a new all-time high this morning, and it is just more so a matter of time before the markets start to take hold of everything, and we watch as conditions continue to only get stronger leading into the FOMC’s decision on the interest rate tomorrow.
Please tread lightly today, but take advantage of the momentum and opportunity while preparing accordingly for tomorrow. Conditions will be extremely volatile yet extremely profitable. So make some smart decisions, realize some gains here in the short term, and just have an amazing time in the process. I think that many traders will have a great time taking advantage of today, so realize some gains and have an amazing day!
Good luck trading, and let’s see this NEW all-time high!!!