HaiKhuu Daily Report 11/03/2023
Good morning, and happy Friday! Markets are down slightly at the time of writing this report, but we have gapped up on the Daily charts, and markets are looking strong with a confirmation of a reversal from the bottom. This is an interesting time for the markets as we can continue to come up, but it is just a matter of how quickly the markets move up and how consistent that movement is.
Markets are either going to continue to break out in real-time and continue to move up to the daily cloud, or we are going to see some selling as $SPY comes back down to the daily baseline support.
Regardless of what happens, continue to capitalize on the opportunities that are presented to us and realize some gains in the process of everything. Practice safe risk management and tread lightly on these current market conditions.
We are due for some pullback. The question now becomes, does the market come down, and when it does, how far down will it go?
This will be a fun and confusing time today, so I hope you all are ready and excited.
Good luck trading today, and let’s end this week strong!
The updated $SPY daily levels are as follows:
Conversion Line Support: $420.06
Base Line Support: $423.67
Weak Psychological Support/Resistance: $430
Strong Psychological Support: $420
Daily Cloud Resistance: $435.81
$SPY Daily Candles - Gap up, Above Daily Resistance & Displaying Strength [11/02/2023]
Thoughts & Comments from Yesterday, 11/02/2023
Yesterday was an extremely beautiful day for the markets, with a significant amount of bullish momentum and strength. It was extremely difficult not to realize gains unless you were attempting to fight the momentum. If you simply bought and held pretty much any time throughout the day, you should have been able to realize gains with ease.
$SPY started the day looking extremely strong, being up for the morning and moving up even more on economic news during the pre-market session.
The momentum followed through open, as $SPY opened the day trading at $426.56, which was the official low of the day, and continually pushed throughout the entire morning. We watched as momentum slowed down after the first initial pump to $428, but the markets respected the general market momentum, and we watched as the markets broke out afterward as a result of the general sentiment continuing to be extremely bullish.
Going into the lunchtime lull, market momentum picked up again, where we continually made new highs of the day, broke up to $429, and hovered around that range for the large majority of the day.
The lull did not provide us with many options, market momentum was extremely slow, and there was nonexistent volume. Any buying was matched with selling, and any slight dip was bought back before it could create any impact in the markets.
After the lull ended, there was strength in the markets as volume came back into the markets, and we continued to make official highs of the day.
During the back half of the afternoon, momentum slowed down but continued to move up as we watched as $SPY continued to push, breaking above $430 and displaying many signs of general confidence in the markets. $SPY went on to make the official high of the day leading into close, making the high trading at $430.91 and coming down slightly into close.
We ended the day with $SPY trading at $430.76, up $8.10 for the day, or up approximately 1.9%, with an intraday bullish movement of +0.96%.
It was a beautiful day for the markets that provided us with many phenomenal opportunities to not only trade but realize a significant amount of gains in the process. I hope you all were able to capitalize on the opportunities that were available to us and were able to realize some gains!
Let’s see how the markets want to end the week, and make the most out of it!
Heatmap - $SPY 11/02/2023
Thoughts & Comments for Today, 11/03/2023
Today should be a confusing yet interesting time for the markets that will be filled with opportunities to realize a significant amount of gains. With the way that the markets sit, there is a significant amount of difficulty allocating to the markets here, but we are seeing continued signs of strength in the markets. There is a lot of general confusion as a result of this movement, and people are going to be hesitant to allocate long. If you are looking to trade, these conditions are optimal for you.
My recommendation for you in these current market conditions is to simply follow the market momentum and actively day trade and scalp. Market conditions are looking strong, and there are going to be many places where you can enter with confidence and trade the momentum, but it is finding allocation that you are the most comfortable and confident holding.
There are a lot of risks that are involved with allocating into the markets, mostly in these current conditions, but I would highly recommend that you attempt to capitalize on these opportunities. Make sure to have stops set in place, as realistically, as I have said before in this report, the markets do need to come down, but as we all know, the markets can stay irrational longer than we can stay solvent.
Just look to take advantage of the strength in the markets while it is here. I would not advise you to attempt to fight any of this momentum, but as I have been saying, simply follow the momentum and accept that the markets are moving up. Do not be overly bullish or bearish right now, and be careful attempting to allocate long, as the markets have moved up roughly 5% from the bottom in an extremely short period of time.
Everything has moved up nicely from the relative bottom, and I would just be extremely cautious when attempting to allocate in these conditions as there is a high fall risk despite market conditions looking extremely strong at this point.
For myself personally, I do not have many plans on actively trading today. The office is having general connection issues with the internet, and I do not want to subject myself to attempting to trade while conditions are not optimal, but if the connection does end up stabilizing, I will look for opportunities to actively scalp the market momentum and capitalize on the strong opportunities that are available to trade. I am not allocating long at this time, nor am looking to sell premium as a result of the significant decrease in volatility we have seen over the previous week.
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. The long-term portfolio performed in line with the general markets, but the base algorithm was able to outperform both the long-term portfolio and $SPY. That is a great sign for our continued testing, and we are extremely excited to see that this system is continually performing up to expectations through our live beta test. We hope to have more positive results for you soon, and are excited to see this weekly report.
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as follows:
Baseline:
$SPY: +0.96%
Our Results:
Base Algorithm: +1.13%
Long Term Portfolio: +0.89%
Variable Market Neutral: +0.76%
Variable Sector Neutral: +0.39%
Market Neutral: +0.2%
Sector Neutral: -0.13%
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 11/03/2023
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 , $AAPL, $COIN, $NVDA, $TSLA, $AMD, $F, $DIS, $GAIN
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 11/03/2023
Unemployment Rate - 8:30 AM ET
Nonfarm Payrolls - 8:30 AM ET
Private Payrolls - 8:30 AM ET
Manufacturing Payrolls - 8:30 AM ET
Labor Force Participation Rate - 8:30 AM ET
S&P Services PMI - 9:45 AM ET
ISM Services - 10:00 AM ET
Notable Earnings for 11/03/2023
Pre-Market Earnings:
FuboTV (FUBO)
Enbridge (ENB)
Cboe Global Markets (CBOE)
Cardinal Health (CAH)
EOG Resources (EOG)
Cinemark (CNK)
Restaurant Brands International (QSR)
Dominion Energy (D)
Wrap up
Overall, this should be an interesting time to end the week. There will be many opportunities to trade and many opportunities you will miss out on. Be smart, be safe, and tread lightly on these market conditions. People will have a difficult time allocating long here in these market conditions, but this is an optimal time to simply follow the momentum in the markets and scalp accordingly.
Take advantage of the momentum in the markets, and realize some gains!
Good luck trading, and let’s end this week strong!