HaiKhuu Daily Report 11/02/2023
Good morning, and happy Thursday! $SPY is up beautifully at the time of writing this report, and I hope you all are excited for what should be an extremely profitable day for the markets. We have bounced off of $410 and have broken past both levels of daily resistance. Hopefully, the markets continue to move up at this time, as if we are able to close above the daily baseline, this will be a relative sign of reversal from the bottom.
Continue to tread lightly on these market conditions but continually look for opportunities to capitalize on this momentum in the markets. There are a lot of opportunities that are available. Now, it is just a matter of capitalizing on them.
Hopefully, you all were able to allocate into value organizations you were confident in as markets are looking strong and opportunities are looking phenomenal
Let’s all watch as market conditions hopefully continue to strengthen in November and make the most out of this market momentum.
Good luck trading today, and let’s make some BANK!
The updated $SPY daily levels are as follows:
Conversion Line Support: $417.22
Base Line Support: $423.67
Weak Psychological Resistance: $430
Strong Psychological Support: $420
Daily Cloud Resistance: $436.43
$SPY Daily Candles - Bounce off $410, Displaying signs of strength as we have broken above daily resistance [11/01/2023]
Thoughts & Comments from Yesterday, 11/01/2023
Yesterday was an insane day for the markets, with a significant amount of economic news that caused increased volatility and momentum in the markets, causing us to have some extremely large movements and as a result, increasing profitability by a significant amount. Everyone should have had a phenomenal time trading yesterday and realized a significant amount of gains as a result of that!
We started the day looking relatively strong despite looking extremely weak during the pre-market session. $SPY started the day trading at $419.19, up from the previous close of $418.20, and showed signs of strength from open. We watched as the markets moved up nicely with some continued bullish momentum. $SPY continually pushed throughout the entire morning on continued economic news positively impacting the markets and enjoyed as $SPY quickly broke above the $420 resistance and continued to move up accordingly, making a relative high in the markets trading right under $422. We chopped around $421.50 for approximately an hour as momentum was confused at that point and watched as the markets did slowly come down as a result of the bullish momentum in the markets slowing down.
Leading into the lunchtime lull, we watched as optimism started to fade, and the markets came down to test the $420 level for the large majority of the time, breaking below that level and providing us with an opportunity to allocate long again after watching the general market momentum.
Everyone was waiting for the Fed’s decision on the interest rates, and as the numbers came out at 2 PM EST, we watched as the markets started to build up some momentum, leading into Jerome Powell’s speech.
As Jerome started to speak, $SPY went up to test the relative high again for the day before quickly snapping back and breaking back below $420, to ultimately push up again during the back half of the afternoon and had a significant amount of both confidence and optimism flood back into the markets.
We watched as $SPY hit the official high of the day, trading at $423.50, and looked extremely bullish at that time. The markets came back slightly to end the day, but we still had an amazing time in the process. We ended the day with $SPY trading at $422.66, up $4.46 for the day, or up approximately 1.1%, with an intraday bullish movement of 0.81%. It was a beautiful day for the markets that provided us with some amazing opportunities to trade and realize gains in the process.
I hope that you all were able to capitalize on the opportunities that have been available to us in the markets and realize a significant amount of gains while attempting to trade yesterday.
It was a phenomenal time yesterday, and let’s all hope that this strength and confidence in the markets is sustained.
Let’s see what happens today, and have a great time in the process of everything!
Heatmap - $SPY 11/01/2023 - Thank You Papa Powell
Thoughts & Comments for Today, 11/02/2023
Today is going to be a fun day for the markets. There will be a lot of confusion, but there is a significant amount of optimism that is going to provide us with many amazing opportunities to trade and realize some gains. At the time of writing this report, $SPY has only continued to move up after making a significant movement from the relative bottom. We are seeing strength in organizations like $NVDA and $TSLA from the bottom, which scared a lot of traders on the way down but tested many people’s faith and optimism while stopping them out before moving up and providing opportunities to capitalize on an extremely quick sizable movement.
I cannot lie; this movement from the bottom was expected but not easily predictable, and hopefully, you all have been watching the markets for the reversal, as the markets are showing signs of a reversal here from the bottom. $SPY is trading up nicely from $410, broke past $420, and is above both levels of daily resistance. With the way the markets sit right now, there is a significant amount of optimism and bullish momentum despite still being in fear on the fear and greed index. I would be extremely careful and cautious while attempting to trade in these market conditions, but look to take on some risks right now to capitalize on this momentum in the markets.
There are going to be many phenomenal positions that you can take on right now and capitalize on this movement in the markets, but at the same time, I would advise you all to be extremely cautious and make sure you are practicing safe risk management.
The previous couple of days were the time to allocate to deep value into the markets as there were many amazing opportunities to do so, and we are at a point in the markets where I would not advise you to attempt to purchase equities anymore or attempt to allocate into value.
With the momentum in the markets right now, I would advise all of you to continually attempt to actively scalp and trade this market momentum and attempt to realize as many gains as possible while there is this confidence.
No one knows how long this confidence is going to remain in the markets. Will it end today? Will it end tomorrow? Will it never end? Who knows. But all we can say right now is to take advantage of the opportunities that are available to us right now and to realize a significant amount of gains as a result of this.
I would advise you all to take on some general risk in the markets and allocate a little bit heavier if you are attempting to trade, and be careful attempting to allocate long in any positions right now. There is some beautiful momentum, but value stocks like $KO have held up strong in the downturn, but while there is confidence, look to actively trade some higher beta tech positions and capitalize on the momentum in the markets that are presented to us.
We all should be able to realize a significant amount of gains in a relatively short period of time, but just make sure to practice safe risk management.
For my personal allocations today, I will look to trade the momentum in the markets when I see an opportunity to capitalize on the bullish momentum in the markets, but I will continue to hold allocations that I have right now in the markets and continue to hold them as markets are moving up from this bottom. I missed opportunities to purchase speculative organizations when there was an opportunity at the bottom just a couple of days ago, but I still am in a significant amount of value positions that realistically should appreciate heavily in value during this time and remain extremely consistent. I am not going to be adding any speculative positions to my long allocations, nor do I have any intentions to do that anytime soon.
Just continue to capitalize on the opportunities that are presented to us in these market conditions and maximize your potential to realize some gains this week. We should have an amazing time, so take advantage of the opportunities available to us!
If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.
HaiKhuu Proprietary Algorithm Report:
Yesterday, the algorithm underperformed in comparison to both the fundamental analysis as well as $SPY. It is unfortunate to see this happen, but realistically, that is just a part of being in the markets. It is difficult to judge confidence on a day-by-day basis on the algorithm’s performance, so as long as we see results on a larger timeframe, then the algorithm is in a phenomenal spot to capitalize on the opportunities available in the markets. Let’s see what happens today and hope that this live beta test continues to perform as expected!
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as follows:
Baseline:
$SPY: +0.81%
Our Results:
Long Term Portfolio: +0.57%
Base Algorithm: +0.28%
Variable Sector Neutral: -0.22%
Variable Market Neutral: -0.26%
Sector Neutral: -0.4%
Market Neutral: -0.58%
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 11/02/2023
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 , $TSLA , $PYPL, $ROKU, $QCOM , $NVDA, $DIS, $F, $GM
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 / $KO
Long-Term Auto Sector - $F / $GM
Economic News for 11/02/2023
Initial Jobless Claims - 8:30 AM ET
US Productivity - 8:30 AM ET
Factory Orders - 10:00 AM ET
Notable Earnings for 11/02/2023
Pre-Market Earnings:
Palantir (PLTR)
Starbucks (SBUX)
Shopify (SHOP)
Eli Lilly (LLY)
Novo Nordisk (NVO)
Crocs (CROX)
Moderna (MRNA)
Barrick Gold (GOLD)
Cigna (CI)
Conoco Phillips (COP)
Paramount Global (PARA)
After-Market Earnings:
Apple (AAPL)
Block (SQ)
DraftKings (DKNG)
Carvana (CVNA)
Fortinet (FTNT)
Coinbase (COIN)
CloudFlare (NET)
Motorola Solutions (MSI)
Pioneer Natural Resources (PXD)
Wrap up
Overall, this should be an extremely interesting time for the markets that will provide us with opportunities to trade as well as opportunities to take on some exposure. Be careful of the downside risk, but look to continue to take advantage of the market momentum and opportunities that are presented to us right now. This should be a fun time, so just make sure you practice safe risk management and don’t get greedy!
Good luck trading today, and let’s realize a significant amount of gains!