HaiKhuu Daily Report 10/10/2023
Good morning, and happy Tuesday! Hope you all are excited about market conditions today, as we should see some significant movements in the markets. We have news in regard to our algorithmic trading strategy that I will be going over later in the report, so this is a big day for our systems! Thank you all for being patient while performance was on hold, as market conditions were not favorable, and we appreciate it.
$SPY is down slightly at the time of writing this report, but nothing of any major concern. We’ve bounced nicely on the daily conversion line and are coming up to the daily baseline resistance. We believe that these market conditions are only going to continue to become more favorable over time, so watch out for value in the markets and trade when you have the confidence to do so.
Take advantage of this momentum in the markets and continue to make smart allocations, but practice safe risk management.
Markets have been strong for the previous couple of days, and it would not surprise us if $SPY came back down to support.
Good luck trading today, and let’s realize some gains!
The updated $SPY daily levels are as follows:
Conversion Line Support: $426.81
Base Line Resistance: $435.63
Weak Psychological Resistance: $430
Weak Psychological Support: $425
Strong Psychological Support: $420
Daily Cloud Resistance: $444.96
$SPY Daily Candles - Bounce on Conversion Line Support [10/09/2023]
Thoughts & Comments from Yesterday, 10/09/2023
Yesterday was another amazing yet interesting time for the general markets. We were expecting to see relatively low volume and momentum in the markets as a result of the banking holiday, and it provided us with an amazing time to capitalize on the bullish momentum in the markets.
We started the day off with $SPY looking relatively weak after the result of the war news coming out of Israel. We opened the day trading red, trading at $427.54, down from the previous close of $429.54. Market conditions were not looking strong going into the banking holiday, but there were many scalping opportunities throughout the morning. We popped up right from open with some strong bullish momentum as the markets moved up to test $429, but ultimately came down and chopped around for the large part of the morning. After chopping around, though, $SPY went on to make the official low of the day, trading at $427.03, and looked weak, actively testing the daily baseline support. Thankfully, we saw a beautiful bounce in the markets, resulting in a significant movement.
During the lunchtime lull, we started to watch as the markets started to pick back up and displayed relative strength. We went green again for the day with some relative confidence and continued to move up for the rest of the day.
Momentum did slow down once we were testing the previous close, continually chopping around and not really providing us with many opportunities to trade, but once the momentum started to pick back up, the rest was history. As $SPY broke above the $430 resistance level with confidence, the markets continued to move up throughout the rest of the afternoon, providing us with some beautiful opportunities to trade. the movement up was extremely quick, but it provided us with a significant movement that was easily spotted and could have been capitalized on.
Once $SPY got up to $432, we started to see momentum slowing down, ultimately providing us with a negligible amount of movement during the back half of the afternoon. We remained at that level for the final two hours of the trading day with extremely choppy conditions not allowing us to trade with confidence but providing many scalping opportunities. We made the official high of the day with $SPY trading at $432.88 and really did not move at all into close. We ended the day with $SPY trading at $432.29, up $2.75 for the day, or up approximately 0.64%, with an intraday bullish movement of 1.1%.
It was a beautiful day for the markets that provided us with many opportunities to trade and even more opportunities to realize a significant amount of gains. Great job to anyone who was able to capitalize on the momentum in the markets and realize a significant amount of gains while trading.
Let’s see what the markets have in store for us today!
Heatmap - $SPY 10/09/2023
Thoughts & Comments for Today, 10/11/2023
Today is going to be another confusing time for the markets. With the way that the markets sit, there is a lot of confidence while still showing signs of weakness across the board. I would not recommend being overly bullish or bearish in the markets at this point, but to look to realize gains and capitalize on the opportunities that are available to us.
As I have said before, there is a significant amount of risk that is in the markets right now, but there is confidence as we’ve bounced from what is the “bottom”. We are still in fear on the fear and greed index but are displaying signs of what could be a reversal from the $420 support level on $SPY.
I would still remain cautious but optimistic about current market conditions. There will be many trading opportunities that are presented here, but anyone who is overly ambitious is going to have an extremely difficult time remaining consistent in these conditions. Please make sure to continually limit your risk in these conditions but purchase value when you are given an opportunity to do so.
This is the time to look to capitalize on the momentum in the markets, though. Do not fight any trends and simply follow the market momentum. Volatility is starting to decrease, which is providing us with confidence and is providing us with an amazing chance to collect premium with relative ease and confidence.
Risk management is going to be key to your success in these conditions. Continue to remain consistent while the markets are in this state of confusion, and the end result is that you will be able to continually capitalize and realize gains regardless of market conditions.
For myself personally, I am continuing to add value in these conditions. I do not know how much active trading I will be doing today as a result of the uncertainty of conditions, but I know that there are still going to be great opportunities in the markets that provide us with an amazing entry on value stocks. I personally reallocated some of my capital yesterday from being in $DIS to entering into $DG. I will scalp when there are opportunities in the markets, but I personally will not look to take on too much risk on top of the general exposure that I have for the day.
If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.
HaiKhuu Proprietary Algorithm Report:
Yesterday was a great day for our systems, where the base algorithm and technical analysis outperformed both our fundamental analysis and $SPY. That is obviously great news, but we have more significant news that we are excited to announce. We are lifting the hold on the algorithm as we’ve progressed significantly with our testing and are launching a live beta test of the newest algorithm we want to move forward with.
Development of this system is ongoing, and we expect to continually improve this system indefinitely.
To be completely transparent, this system, in backtests, has outperformed our previous systems by a significant amount, and we believe that this is going to be the upgrade you all have been patiently waiting for. We are launching this live beta test to provide you all with opportunities to trade and capitalize on the opportunities, but need to warn you about the risks that are involved.
This is a live beta test, and we cannot guarantee its success. It’s performed well enough during backtests to launch this test, but just know that past performance is not indicative of future performance. We would not launch something that we are not satisfied with nor perform up to our expectations. Please be cautious about taking any of these positions. Do not blindly take any of these entries, and make sure to do your due diligence prior to entry. Assuming this live test goes well over the next couple of weeks, we will fully release and endorse this algorithm.
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as follows:
Baseline:
$SPY: +1.1%
Our Results:
Base Algorithm: +1.29%
Variable Market Neutral: +1.02%
Long Term Portfolio: +1.02%
Market Neutral: +0.89%
Variable Sector Neutral: +0.61%
Sector Neutral: +0.36%
As I said before, this is a LIVE beta test, and we cannot guarantee its success. Please practice safe risk management with these allocations and understand the risks that are involved prior to entering into any of these positions. We do not advise blind entries into any of these positions despite us lifting the hold and want to assure you are allocating accordingly in these market conditions.
DISCLAIMER - This is not financial advice. Utilize these trades with caution. These predictions are generated via our proprietary trading algorithm without taking into account market conditions, news, or any external biases. This is not a signal to buy or sell any equities, and we do not guarantee success. Take these at your own risk.
Algorithmic Alerts for 10/10/2023
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 , $DG , $DIS , $TSLA , $AAPL , $NVDA , $BA , $RTX , $NOC
Position Opportunities:
Follow the market momentum
Limit your downside risk
Allocate into strong value & safety plays
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $DIS / $DG
Economic News for 10/10/2023
NFIB Optimism Index - 6:00 AM ET
Wholesale Inventories - 10:00 AM ET
NY Fed Inflation Expectations - 11:00 AM ET
Notable Earnings for 10/10/2023
Pre-Market Earnings:
PepsiCo (PEP)
Neogen Corp. (NEOG)
After-Market Earnings:
AZZ Inc. (AZZ)
E2Open Parent Holdings (ETWO)
Presto Automation (PRST)
VOXX International Corp. (VOXX)
Wrap up
Overall, this is going to be an interesting time for the general markets. Be smart and safe in these conditions and take advantage of the opportunities that are available to us. Make sure to practice safe risk management and limit your downside risk where possible. Do not get greedy and realize gains when given an opportunity to do so. These conditions can be extremely favorable or difficult to navigate, so make some smart decisions and allocate accordingly.
Good luck trading, and let’s make some bank!