HaiKhuu Daily Report 10/17/2023
Good morning, and happy Tuesday! Hope you traders are feeling great and are excited about today! We are back and testing the daily baseline resistance, so this is going to be a fun time watching to see if we break out with confidence, continue to chop around this level, or ultimately reject and come down.
$SPY is down from the previous close at the time of writing this report, but despite this, there are going to be many great opportunities to allocate today with confidence. Please be careful and cautious in these conditions, and do not look to increase your exposure too much, but this is a great time to look to take on some risk in the markets.
Do not be overly bullish or bearish, and watch the daily baseline for the direction in the markets and simply follow the momentum in the markets.
Good luck trading today, and let’s realize some significant gains today!
The updated $SPY daily levels are as follows:
Conversion Line Support: $428.97
Base Line Support/Resistance: $435.63
Strong Psychological Resistance: $440
Weak Psychological Support: $430
Strong Psychological Support: $420
Daily Cloud Resistance: $445.70
$SPY Daily Candles - Bounce on Base Line [10/16/2023]
Thoughts & Comments from Yesterday, 10/16/2023
Yesterday was a beautifully green day for the overall markets as a result of the bullish sentiment across the board. There was some beautiful overall movement in the markets, as well as a beautiful intraday movement. It was extremely easy to generate both realized and unrealized gains yesterday, with some of the largest movements happening in $LULU, being up approximately $39, or roughly 10.3%, with news of them planning on joining the S&P500. We also had “news” about the SEC approving the BTC Spot price ETF, which caused BTC to rally and test $30,000. Once that news was proven to be false, we watched as BTC and all crypto quickly sold off.
$SPY had a beautiful day, starting the morning trading at $433.81, up nicely from the previous close of $431.50. We watched as $SPY remained relatively neutral around the open price for the first half hour of the day, making the official low of the day trading at $433.57, and watched as $SPY continually moved up throughout the first half of the trading day. We saw some beautiful bullish momentum as $SPY moved nicely above the daily baseline resistance and, as a result of that, displayed many signs of confidence after opening.
The momentum started to slow down in the markets as the afternoon rolled around; there was not much movement during the lunchtime lull, and we remained stagnant around the daily baseline for the rest of the day. It was extremely difficult attempting to capitalize on any of the movements after the initial bullish movement in the markets as a result of this, and it was unfortunate to watch the lack of momentum after what was a beautiful day, but despite this, there still was a beautiful movement we all could have easily capitalized on without any issues.
We ended the day with $SPY trading at $436.04, up $4.54 for the day or up approximately 1.05%, with an intraday bullish movement of 0.50%. It was a beautiful day for the markets, with many opportunities to trade early in the morning but not many opportunities outside of that. Hopefully, you all were able to capitalize on the movement early in the day and were able to allocate accordingly in the process. I know that personally, I started to allocate into more value plays yesterday, creating an initial purchase on both $F and $GM,
Today should be a fun one for the markets, so let’s see what happens and capitalize on the opportunities in the markets!
Heatmap - $SPY 10/16/2023
Thoughts & Comments for Today, 10/17/2023
Today should be another interesting time for the markets. As I said before, be on the lookout for the $SPY daily baseline. That is going to be the major line to be on the lookout for. As I said before, there are going to be three things to look out for today. Expect to see chop around $435.60 on $SPY and watch for the direction of the market momentum. Once we find a direction, markets are either going to go up and break out of the previously mentioned resistance, or we are going to break down and sell off. Regardless of whatever happens, be cautious and careful in these conditions, and make sure to respect the chop.
Continue to practice safe risk management while attempting to trade today. Market conditions will make it extremely difficult to navigate as a result of this chop and generate a significant amount of losses for traders and a significant amount of gains for market makers until there is a direction that is chosen. Once that direction has been selected, follow the momentum in the markets and the active trends. This is going to be the key to consistency in these market conditions. Do not attempt to find a bottom or time out the top. Simply just follow market momentum and look to realize gains when you have an opportunity to do so.
As I have been saying, do not be overly ambitious in these conditions, and do not be hard set on a single direction. Traders should continue to remain fluid and allocate accordingly depending on market momentum, and investors should continue to look for opportunities to allocate with confidence into organizations with deep value.
Two organizations I personally have allocated heavily into are $F and $GM. Both are having issues at the moment with the UAW strike, and that has heavily impacted the performance of both of those organizations. Both are down over 20% from the high of this year and are providing us with an amazing opportunity to allocate with confidence. Both of these organizations are fundamentally solid, and I am looking to continually allocate to both of these organizations regardless of how the organizations play out. Either $F and $GM continue to slip as an organization, where I will be adding to my position, or they move up substantially on news of the strike ending, resulting in us realizing gains with confidence. Either way, I am comfortable holding these organizations, but ideally, we are able to purchase here and watch as the strike passes, resulting in a beautiful 10-20% movement up in these organizations.
Personally, I am not going to be actively trading today. I apologize for this, but I need to handle some operational things right after markets open, so I do not anticipate entering into any allocations early in the morning and will only attempt to trade once I am back. I will continue to hold my positions but do not anticipate actively scalping early in the morning. If there are opportunities that are available in the afternoon, that is where I’ll enter into the markets.
If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.
HaiKhuu Proprietary Algorithm Report:
Yesterday was relatively a wash with our systems, performance of the fundamental analysis in the long term portfolio outperformed $SPY and the base algorithm underperformed slightly in comparison to $SPY. The margin of difference between everything is within a 0.07% range between our fundamental analysis, technical analysis, and our baseline of $SPY. We are still performing a live beta test of our newest algorithm, so it is unfortunate that we were not able to outperform, but the fact that everything stayed in line with the markets is a win in our eyes.
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as follows:
Baseline:
$SPY: +0.5%
Our Results:
Long Term Portfolio: +0.55%
Base Algorithm: +0.48%
Variable Sector Neutral: +0.37%
Variable Market Neutral: +0.29%
Sector Neutral: +0.07%
Market Neutral: -0.02%
As I’ve said before, we are running a live beta test with our newest algorithm. These systems outperformed previous systems, and we are excited to see what happens, but at the same time, we are not blindly endorsing entries into any of these positions. This is all still a live beta test, and we cannot guarantee its success or state that we have 100% blind confidence in our processes.
We do recommend you do some due diligence with any of these positions but actively watch and allocate when you personally have confidence that lines up with our systems.
The best way to allocate is to find a beta weight you are comfortable taking on in the short term and find an allocation from the list with a larger allocation %, as that is going to signify more confidence in the position versus a lower % allocation. As always, practice safe risk management and limit your downside risk by setting stops on the positions accordingly.
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 10/17/2023
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 , $F , $GM , $DIS , $DG , $TSLA , $AAPL , $NVDA
Position Opportunities:
Follow the market momentum
Limit your downside risk
Allocate into strong value organizations
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $DIS / $DG
Long-Term Auto Sector - $F / $GM
Economic News for 10/17/2023
Retail Sales - 8:30 AM ET
Industrial Production - 9:15 AM ET
Business Inventories - 10:00 AM ET
Homebuilder Confidence Index - 10:00 AM ET
Fed’s Barkin Speaks - 10:45 AM ET
Notable Earnings for 10/17/2023
Pre-Market Earnings:
Bank of America (BAC)
Lockheed Martin (LMT)
Goldman Sachs (GS)
Johnson & Johnson (JNJ)
Prologis (PLD)
Bank of New York Mellon (BK)
Ericsson (ERIC)
Albertsons Companies (ACI)
After-Market Earnings:
United Airlines (UAL)
Interactive Brokers (IBKR)
J.B. Hunt Transport Services (JBHT)
Hancock Whitney (HWC)
Pinnacle Financial Partners (PNFP)
Wintrust Financial Group (WTFC)
Wrap up
Overall, this should be a fun day for the markets. Watch out for the daily baseline, as it will be the determining factor of the movement in the markets in the short term. Do not be overly bullish or bearish in these market conditions, and look to take advantage of the opportunities that are presented to us. Follow the market momentum, and let’s have some fun and realize some gains today.
Good luck trading, and let’s make some bank!