HaiKhuu Daily Report 11/10/2023
Good morning, and happy Friday! Hope you all are doing well and are ready for what is going to be another confusing and interesting time for the markets.
We are looking strong during the pre-market session as $SPY is up slightly at the time of writing this report and is showing signs of strength and the possibility of a break out here in the short term. As I have been saying recently, be careful and cautious in these market conditions as we can continue to see weakness come across the markets with relative ease, but at the same time, look to take advantage of the momentum in the markets and the opportunities that are presenting themselves to us.
Do not be overly ambitious or attempt to take on a significant amount of risk or exposure, but take on some exposure today when you are confident doing so, and practice safe risk management.
There will be many opportunities to realize some gains and more opportunities to get burnt. So make some smart decisions, don’t get greedy, and seize the opportunities that are being presented in these market conditions!
Good luck trading today, and let’s make some BANK!
The updated $SPY daily levels are as follows:
Conversion Line Support: $426.34
Base Line Support: $423.84
Strong Psychological Resistance: $440
Weak Psychological Support: $430
Strong Psychological Support: $420
Daily Cloud Support: $431.58
Daily Cloud Resistance: $439.81
$SPY Daily Candles - Trading in the daily cloud, Coming down to support [11/09/2023]
Thoughts & Comments from Yesterday, 11/09/2023
Yesterday was an extremely tough day for the general markets that provided us with opportunities to trade but made navigating the markets extremely difficult, mostly for the individuals who were extremely bullish. The bears had a great time and had many opportunities, but on an overall basis, I would say that more money was unfortunately loss than gained, and most traders were not able to realize any form of significant gains yesterday.
We started the day with $SPY looking strong at open, pushing up slightly during the pre-market session, opening the day trading at $438.35, up from the previous close of $437.25, but market conditions from open did not present the markets with much confidence as we quickly made the official high of the day trading at $438.46 in the first candle, and came down throughout the rest of the day.
$SPY quickly went black for the day within the first 10 minutes of the trading day, dropping approximately $1 from open, and remained around that level for the large majority of the day until after the lunchtime session, as Jerome Powell started to speak.
In the morning, we did see a slight drop in the markets where we made a relative low, trading slightly above $436, but the markets quickly recovered from the bottom and continued to remain relatively neutral going into the lunchtime lull.
During that lull, not much movement happened in the markets as we continued to remain neutral with no significant movement as everyone waited for Jerome Powell to speak, and once Jerome started to speak, is when the markets found the sentiment and direction for the day.
There were quick opportunities to scalp to the bullish side intraday, but the sentiment was bearish, and the markets quickly went from trading right under $438 to selling off throughout the rest of the day.
We did see that at the beginning of the event, there were climate protestors that stormed the stage again, which caused the event to be quickly shut down as they dealt with the protest, and we got the now famous Jerome Powell quote, “Just close the fucking door”, which honestly was my highlight during the trading day.
Markets continued to slip throughout the entire afternoon, not providing us with many opportunities at all to attempt to go long in the markets and was extremely bearish going into close.
The selling started to slow down going into powerhour, which was nice, but we did not see any sort of real recovery into market close, where we watched as $SPY made the official low of the day trading at $433.40 and ended the day trading at $433.84, down $3.41, or down approximately 0.8%, with an intraday bearish movement of -1.04%.
It really was a tough day for the markets, and there’s no good way to sugarcoat anything. Thankfully, lots of us had $DIS to help offset the unrealized losses that were incurred, but other than that, man, it genuinely was a tough time with not many opportunities. Let’s hope today is a better day for the markets that provide us with more opportunities to trade and realize gains in the process.
Heatmap - $SPY 11/09/2023
Thoughts & Comments for Today, 11/10/2023
Today is going to be an interesting time with a significant amount of mixed sentiment that is going to be extremely difficult to gauge but will be extremely easy to look back on and say that, in hindsight, it was an extremely easy way to capitalize on the markets and realize gains in the process. Please be careful and cautious while attempting to trade today, but at the same time, look for opportunities that you have confidence in and capitalize on the opportunities that are presented there.
Over the previous couple of days, we have seen a significant amount of bullish momentum in the markets that we all could have easily capitalized on, but at the same time, we are in a state of general confusion where markets have started to come down while being within the daily cloud. As a result of yesterday, I am glad that we are able to say that the insane hyper-bullish sentiment has not remained intact, and the fears of us coming down as a result of the insane movement up we saw have lessened.
It genuinely is going to be a loaded dice roll for the direction that the markets take today, and I am expecting to see a significant amount of chop as a result of everything that is going on right now. Please be careful and cautious, but understand that there are going to be a lot of momentum-based movements today.
If the markets move up significantly and are showing signs of weakness, wait until we break support levels and are showing signs of a reversal, and go short with a stop above the previously mentioned support, and the same goes for the inverse. If we are dropping heavily and are showing signs of strength and a reversal, go long with a stop under the previously mentioned resistance.
Do not be afraid of switching direction in the markets or being fluid with your allocations. Look for opportunities to be bullish and go long with your trades, but do not be concerned if you have to go short as a result of a shift in market sentiment and momentum.
Personally, I will be looking for opportunities to go long with confidence today in the markets. It is going to be an interesting time, and I will only enter when I have the confidence to do so, but I do not want to be overly ambitious and force a position that I do not have comfort or confidence in. A couple of organizations that are on my watchlist right now for an active trade are $TSLA and $RBLX. Both will provide us with some great opportunities, but it is just a matter of timing the position out correctly and allocating accordingly. I will be setting tight stops on all of my positions today to minimize downside risk and not do anything that is overly risky. This is the time to increase risk in the markets, but this is not the time to be irrational or dumb. I anticipate remaining solvent and maximizing my opportunity for gains at this time. I’ve already excited a portion of my $DIS exposure, and I anticipate holding cash and allocating it via active trading today and in the near future versus allocating deep into general equities.
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 systems. The long-term portfolio performed as expected and slightly outperformed the markets, but by a slight margin, while the base algorithm underperformed against both $SPY and the long-term portfolio. My personal sentiment about this current algorithm is not as strong as I would like it to be, so please be cautious with any of these positions and take it with a grain of salt.
The results of yesterday are as follows:
Baseline:
$SPY: -1.04%
Our Results:
Sector Neutral: -0.27%
Market Neutral: -0.53%
Variable Sector Neutral: -0.83%
Long Term Portfolio: -1.01%
Variable Market Neutral: -1.08%
Base Algorithm: -1.36%
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 11/10/2023
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 , $DIS , $AAPL, $GM, $F, $RBLX, $NVDA, $MSFT
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 11/10/2023
Fed’s Bostic Speaks - 9:00 AM ET
University of Michigan Sentiment - 10:00 AM ET
UMich Inflation Expectations - 10:00 AM ET
Notable Earnings for 11/10/2023
Pre-Market Earnings:
Silver Spike Investment (SSIC)
Algonquin Power & Utilities (AQN)
AngloGold Ashanti (AU)
Hudson Global (HSON)
AirSculpt Technologies (AIRS)
Capital Product Partners (CPLP)
Creative Realities (CREX)
SoHo House (SHCO)
Wrap up
Overall, this should be an extremely interesting time to end the week. Let’s hope there is positive bullish momentum that we can capitalize on, but expect the worst and hope for the best. Market conditions are extremely confusing right now, so do what you can to maximize your potential for profits, but do not take on a significant amount of risk that you are not willing to hold. Make some smart decisions, and let’s end this week strong!
Good luck trading today, and let’s try to make the most out of today!