HaiKhuu Daily Report - 10/21/2024
Good morning, and happy Monday! That weekend came in hot and went by even quicker than I expected. I hope you all had a wonderful weekend and are ready for what hopefully should be an amazing week for the markets. Conditions look great; we are trading close to the previous all-time high, and traders are optimistic. This will be a lot of fun, with many major economic events and earnings coming this week!
Some of the major events to look out for include Tesla earnings WEDNESDAY after hours, PMI data on Thursday, and consumer sentiment on Friday!
There will obviously be significantly more economic data released, but we cannot include it all here. So please click HERE to read the full weekly preview as earnings season begins and we get closer and closer to the elections!
This will be a great week for the markets with many opportunities to trade and realize a significant amount of gains, so continue to tread lightly and practice risk management while doing everything in your power to attempt to realize significant gains in an extremely short period of time. I think traders will have a lot of fun, so let’s make the most out of this week and have an amazing time!
Good luck trading this week, and let’s realize a significant amount of gains together!!!
The updated $SPY daily levels are as follows:
Conversion Line Support: $577.82
Baseline Support: $572.79
Psychological Support: $580
Daily Cloud Support: $546.47
Thoughts & Comments from Last Week
Last week was an amazing time for the overall markets. With significant strength across the board, we made NEW all-time highs, and traders had a wonderful time. We watched as $DRUG rallied over 6,000% from our initial alert, and man, oh man, that was an insane week that absolutely flew by. Opportunities were amongst us to capitalize on these market conditions, and many insane gains were realized. Hopefully you all had a wonderful week trading and had a great time!
We started last week with $SPY opening at $581.22 for the week and watched as $SPY slowly and continually pushed up, making new all-time highs on Monday and finally topping out on Tuesday, hovering right above $584. Conditions were looking strong until we quickly sold off on Tuesday, providing the markets with some quick bearish momentum as $SPY quickly snapped back below $580, making the official low of the week.
Thankfully, the back half of the week was beautiful. There was slight bullish momentum on Wednesday, providing traders with a great opportunity to ride some strong bullish momentum, and then Thursday became the week's killer. On Thursday, we quickly gapped up on $SPY, going on to make the official high of the week and all-time high trading at $586.12, before quickly snapping back down, closing the $582.
Friday, on the other hand, was an extremely slow-brewing, slightly bullish day for the overall markets. We ended the week with $SPY trading at $584.59, up $2.24 for Friday and up $3.37 for the week, up roughly 0.6%. I will say that the overall market conditions were favorable for us, as $SPY continually moved up, but the choppy bearish momentum made it extremely difficult to capitalize on the markets consistently with confidence. I hope that you all realized a significant amount of gains in the process and had an amazing time!
S&P 500 Heat Map - Last Week
Thoughts & Comments for Today - 10/21/2024
This week is setting up for a lot of fun. With $SPY within range of making a NEW all-time high, we are extremely likely to break out. Please be careful and tread lightly, but make the most out of not only today but this entire week. Many opportunities will be presented to us to realize a significant amount of gains, so there is no reason to miss out. Have some fun this week, make the most out of it, and let’s realize some life-changing gains together!
I just want to say congratulations to everyone who has held $BA through this strike BS. Market conditions are looking favorable for anyone who is holding, as there has been news that the strike has officially ended, and $BA is rallying up as a result. At the time of writing this report, it is up $6 and can realistically continue to move up with ease. If you want to play something with some fun momentum today, put $BA on your radar, as this can easily continue to move.
But for everyone who is looking to actively trade today, just know that opportunities will be amongst us, but it is just a matter of being able to take advantage of these conditions, with confidence. Active day trades, in my opinion, are the move that will provide you with the most confidence in these conditions. Find a strong organization that is undervalued in the short term and shows strength. Simply buy that position on a dip, set a stop to limit your downside risk, and then follow the momentum. Continually adjust your stops to decrease the amount of risk that is in the position, and then when you can, set that stop in guaranteed profit and continually adjust your stop up, guaranteeing you more and more profits. This obviously is easier said than done, but at the same time, many traders are going to have difficulty finding positions they are confident in, and this is an amazing way to easily navigate these conditions!
Whatever you do, though, please continue to practice safe risk management and take advantage of these market conditions. Traders will be presented with some great opportunities to realize gains, not only today but this week, so continue to remain smart and diligent while actively trading. You should look to take on some risk in these conditions, I am not saying that you shouldn’t. But with all good risks and opportunities, practicing risk management will be key to your success as a trader. But this is a warning again about the inevitable. One of these days, I am not saying it will happen today or tomorrow, but the markets will take a plunge and provide us with an amazing buy-the-dip opportunity. There is a high likelihood this happens BEFORE the elections, so please tread lightly and just know that this is a realistic possibility we must account for when actively trading.
For my allocations today, I will say that I am extremely excited to trade. With market conditions looking extremely strong and opportunities genuinely being amongst us, I cannot complain, as conditions look favorable for me. I will not look to take on a significant amount of risk in these conditions, but I will say that I am extremely excited to trade and that I will do what I can to scalp and trade when given an opportunity to do so. I will be watching $BA and many other organizations not only today but this week. So be on the lookout, as one of these days, I will add more to my long positions!
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, $AIFF, $GRYP, $INTC, $RIVN, $TSLA, $NVDA, $AMD
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $INTC / $BA / $RIVN
Economic News for 10/21/2024 (ET):
Leading Economic Indicators - 10:00 AM
Notable Earnings for 10/21/2024
Pre-Market Earnings:
Dynex Capital (DX)
Kaspi.kz (KSPI)
Guaranty Bancshares (GNTY)
HBT Financial (HBT)
Sandy Spring Bancorp (SASR)
After Market Earnings:
SAP SE (SAP)
Nucor Corp (NUE)
W.R. Berkley Corp (WRB)
Zions Bancorporation (ZION)
AGNC Investment (AGNC)
Medpace Holdings (MEDP)
Alexandria Real Estate (ARE)
Selective Insurance (SIGI)
TFI International (TFII)
Logitech International (LOGI)
Wrap up
Hopefully, market conditions only continue to absolutely kill it this week, and provide us with some amazing opportunities to realize a significant amount of gains in an extremely short period of time. I am extremely excited to see where the markets take us this week and hopefully watch as we continually make NEW all-time highs in the process. It will be very easy to watch where the markets go from here, so tread lightly, but take advantage of any and every opportunity that the markets provide to us today. This will be a great time, so let’s make the most of it and realize a significant amount of gains!
Good luck trading, and let’s kill it this week!