HaiKhuu Daily Report 11/09/2023
Good morning, and happy Thursday! Hope you traders are doing phenomenal as the markets are looking amazing. $SPY is up at the time of writing this report, and we are displaying many signs of strength going into open. Yesterday was a green day for the markets but red intraday, so despite markets continually moving up, the streak of green candles on the $SPY daily is unfortunately over.
We have seen a bullish TK crossover on the $SPY daily chart, so this is going to be an interesting time with the current placement we are seeing in the markets. Let’s make some smart decisions and do what we can to maximize our profit potential.
Jerome Powell is speaking today at 2 PM EST, so expect to see a significant amount of both volatility and movement in the markets today.
I don’t want to speak too soon, but congratulations to anyone who has been holding $DIS, as they are up significantly on earnings and are looking extremely strong as they beat EPS. I’ll more about my plans with this organization in a little.
For now, good luck trading today, and let’s make some BANK!
The updated $SPY daily levels are as follows:
Conversion Line Support: $425.38
Baseline Support: $423.87
Strong Psychological Resistance: $440
Weak Psychological Support: $430
Strong Psychological Support: $420
Daily Cloud Support: $432.03
$SPY Daily Candles - Daily Streak has ended with a positive movement, yet bearish intraday movement [11/08/2023]
Thoughts & Comments from Yesterday, 11/08/2023
Yesterday was a confusing time for general sentiment as we were actively playing within the daily cloud on $SPY. There were many opportunities to capitalize on both bullish and bearish momentum in the markets, and there were many opportunities to actively trade and realize some gains in the process with relative ease.
We started the day with $SPY trading at $437.49, up slightly from the previous close of $436.93, and displaying mild strength at open, as $SPY moved up and broke above $438 for a brief moment. During that time, $SPY made the official high of the day trading at $438.09. There was not much strength during the aftermath as a result of only that slight bullish momentum, and we watched for the rest of the morning, $SPY had some bearish momentum that ultimately resulted in slow general momentum, selling and a significant amount of chop.
The direction was not the largest problem with the markets as the selling was not too significant, but it was the slow momentum and consistent chop in the process that made trading extremely difficult. There were no good opportunities to trade, and even less opportunities to capitalize on the markets with confidence.
During the lunchtime lull, there really was no significant movement as the markets continued to remain relatively neutral and the sentiment remained the same until after the lunchtime lull. There was a random headline of a US Drone getting shot out of the sky, but it did not cause the significant selling we saw as volume came back into the markets.
Right around Noon EST, we watched as the markets took an extremely quick nosedive, and as a result of that, we made the official low of the day, with $SPY trading at $434.87. As $SPY was diving, many traders got unfortunately faked out in the process, but those who were able to time out the bottom, and ride the bullish momentum upwards into close, were presented with an amazing opportunity.
In the afternoon, the markets continued to move up slowly, but extremely consistently. By 2 PM EST, the markets were black again on an intraday basis, and all of the losses that were incurred towards the downside were recovered nicely, and provided the dip buyers who had strong enough hands an opportunity to capitalize on a beautiful play.
During the back half of the afternoon, there was not much momentum, markets remained relatively stagnant after going black again for the day, and remained relatively neutral until the final half hour. During the final half hour of the trading day, $SPY went on and rallied again, going from relatively black on the day, to pumping approximately $1 and slowly selling off during the final 15 minutes of the day.
We ended yesterday with $SPY trading at $437.25, up $0.32 or approximately 0.07% from the previous close, with an intraday bearish movement of down 0.09%. There was a lot of general movement in the markets that we could have all capitalized on with ease on an intraday basis, but at the same time, there was not much overall movement.
I hope you all were able to capitalize on the momentum in the markets and are prepared for what should be another extremely interesting time for the markets today!
Heatmap - $SPY 11/08/2023
Thoughts & Comments for Today, 11/09/2023
Today should be another fun, confusing, and interesting time for the markets. There will be many opportunities to trade, but I believe that it will be difficult to time these positions out, where the easiest move might be to simply follow the market momentum and play the short-term confidence. There are many organizations right now that are displaying a significant amount of confidence that you can capitalize on, but it is just a matter of deciding which position you want to take and how much risk you want to take on.
Do not expect to see a significant movement in the markets until we are able to break out of the resistance that we are in right now; we are in the daily cloud on $SPY and right under psychological resistance. Assuming that we are able to break above this level and continue to move up with relative confidence, we are going to be in a great spot and be provided with opportunities to trade, but in reality, assuming that market conditions do continue to remain relatively neutral at this time, and we are not able to see a decisive movement, conditions are going to be choppy and have a significant amount of confusion in the process.
A couple of organizations that you should try and keep your eyes on right now if you are attempting to trade are $NVDA, $DIS, and $RBLX.
$NVDA has moved up significantly on news about releasing new chips for the Chinese markets that have caused them to go flying, making a high trading around $474 during the pre-market session. $DIS has moved up heavily on earnings and is displaying significant confidence at the time of writing this report, and $RBLX has moved up heavily on earnings but is displaying signs of weakness at the moment.
I would be extremely hesitant to attempt to allocate into any of these organizations right now, but attempting to follow the momentum of these three organizations will provide you with a significant amount of realized gains while trading today. If there is a short opportunity presented on either $RBLX or $NVDA, both should be extremely quick moves that will be extremely easy to spot and if $DIS continues to break out, it will display many signs of confidence as it nears $90 a share.
This is still not the time to attempt to be over-ambitious in the markets and attempt to force any allocations, as despite there being general confidence in the markets, we are at a price point in the markets where there is a significant amount of risk attempting to allocate into higher-beta positions long at the moment.
If you are attempting to trade, allocating into these organizations should provide you with opportunities to trade, but for going long, I would stay far away from those positions as there is a significant amount of risk involved with allocating into these higher-beta tech positions while there are uncertainties in the markets.
Continue to trade the opportunities that are presented to you in these market conditions, and simply follow the momentum as there are going to be many opportunities that become available to us. Make sure to practice safe risk management and do what you can to minimize your downside risk
For my personal allocations today, as expected, I do not know how much active trading I will attempt today. If I do look for anything, I may look to take profit on some $DIS, short some $RBLX, or scalp some $NVDA. I have some other positions open at this time that I do anticipate exiting throughout the day, but I am standing firm on my belief at this moment that I am fairly exposed in the markets and do not want to increase that risk too much in the process. I’ll take advantage of the opportunities that are presented to me, but I do not want to take on too much risk or add exposure here in comparison to the additions I made this time last 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 an alright day for the algorithm, there really was not much movement in either the markets or our results. Our fundamental analysis and technical analysis were within a 0.02% range between $SPY, so in comparison to the markets, there really was not any significant change. Its unfortunate, but on a day of relatively minimal moves in the markets, we cannot expect too much. I will be excited to see what happens with our allocations today, mostly as the algorithm is interested in $TSLA at these levels.
The results of yesterday are as follows:
Baseline:
$SPY: -0.09%
Our Results:
Market Neutral: +0.02%
Variable Market Neutral: -0.02%
Sector Neutral: -0.04%
Base Algorithm: -0.1%
Long Term Portfolio: -0.11%
Variable Sector Neutral: -0.12%
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 11/09/2023
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 , $DIS, $NVDA, $RBLX, $TSLA, $F, $GM, $KO, $AAPL, $ARM
Position Opportunities:
Trade the market momentum
Set stops in guaranteed profit
Limit your downside risk
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $DIS / $DG / $KO
Long-Term Auto Sector - $F / $GM
Economic News for 11/09/2023
Initial Jobless Claims - 8:30 AM ET
Fed Chair Jerome Powell on Panel at IMF - 2:00 PM ET
Notable Earnings for 11/09/2023
Pre-Market Earnings:
Li Auto (LI)
Novavax (NVAX)
Fiverr International (FVRR),
Tapestry (TPR)
Krispy Kreme (DNUT)
Yeti Holdings (YETI)
HanesBrands (HBI)
Rogers Communications (RCI)
After-Market Earnings:
Plug Power (PLUG)
Unity (U)
Trade Desk (TTD)
Canopy Growth (CGC)
Groupon (GRPN)
Blink Charging (BLNK)
AMMO (POWW)
Illumina (ILMN)
Hologic (HOLX)
Wrap up
Overall, this should be a fun day for the markets. Let’s take advantage of the opportunities that are presented to us and realize some gains in the process of everything. Make sure to practice safe risk management, and do not get greedy. Take profits where you are happy doing so, and have a great time in the process.
Good luck trading today, and let’s see what the markets have in store for us today!