HaiKhuu Daily Report - 11/11/2024
Good morning, and happy Monday! I hope you all had a wonderful weekend and are ready for another AMAZING week for the markets. Cryptocurrencies have rallied, and traders are extremely optimistic about these market conditions! We watched as BTC hit a NEW all-time high over the weekend, and conditions are looking amazing going into this week. $SPY is getting ready to break above $600, so I hope you all are ready and excited for what is going to be a wonderful week full of realized gains!
There will be many earnings and stocks with earnings this week. Some of the major events are as follows:
Tuesday: Shopify / Spotify / CAVA earnings
Wednesday: CPI/ Federal Budget
Thursday: Jobless Claims & DIS / JD earnings
Friday: Retail Sales / $BABA earnings
There are obviously significantly more events happening this week; those are just some of the major ones. If you’d like to see the entire report, please click HERE to prepare for the rest of the week!
Regardless of everything. These market conditions are amazing. Do not be bearish, and do not fight this trend until there is a confirmation of a reversal. Enjoy this smooth sailing and almost just straight autopilot while market conditions are strong!
Good luck trading this week, and let’s have an amazing time!
The updated $SPY daily levels are as follows:
Conversion Line Support: $583.77
Baseline Support: $583.14
Psychological Support: $580
Daily Cloud Support: $563.53
Thoughts & Comments from Last Week
Last week was one of the best weeks I’ve seen this entire year. Market conditions were beautiful, traders were optimistic, and anyone who held any positions had a wonderful time. We continually made new all-time highs, and traders realized significant gains in the process!
So, we started the week with $SPY opened at $571.15. Conditions on Monday were relatively slow leading into the elections, conditions were not amazing, but conditions were not terrible. We continued to hover around $570 leading into Tuesday, where conditions got slightly better and provided traders with some great opportunities to allocate long with confidence into the markets, and we watched as the markets recovered beautifully from the bottom, displaying general strength in market conditions, leading into the elections.
On Tuesday, after hours, Trump was elected president, causing the markets to gap up overnight. On Wednesday, we opened the day with $SPY, and many organizations made new all-time highs. $ TSLA ripped up $30, and everyone should have been able to realize a significant amount of gains with ease.
Thursday and Friday continued the strong bullish trend, not providing us with the same gap-up we saw on Wednesday, but a continuation of that trend. Markets continued to rally, continually making NEW all-time highs, providing traders with an amazing opportunity to realize a significant amount of gains in the process. We ended the week with $SPY making the official all-time high, rejecting $600, trading at $599.63, and officially closing the week trading at $598.19, up $27 for the week, or up roughly 4.73%.
I just want to say congratulations to everyone who realized a significant amount of gains in an extremely short period of time and had a wonderful time in the process. Traders were provided with an amazing opportunity, and many individuals were able to take advantage of these conditions. Regardless of what happens from here, let’s do what we can to make the most of these conditions and have some fun!
S&P 500 Heat Map - Last Week
Thoughts & Comments for Today - 11/11/2024
Today will be an interesting day to navigate. I am under the assumption that a large portion of traders believe that the markets will be CLOSED today for Veterans Day, and as a result of that, we are going to see decreased volume across the board. This is going to be a double edge sword, as navigating today will be inconsistent due to the abnormal amount of market volume. Traders will be provided with great opportunities to trade, but I believe traders will have difficulty navigating these conditions with confidence. As $SPY inches closer and closer to $600, just know that the psychological resistance level will be difficult to hold and remain, but assuming that we are able to continue to capitalize on these conditions, we should have zero problems at all breaking through that level, and continually rallying.
One thing that I do want to warn you all bout, though, is the rejection and downfall of the markets. Obviously, these market conditions are extremely strong and every trader should continue to remain optimistic but skeptical. I personally love these conditions, but I feel that the markets are kind of like a kind of grandma handing everyone money right now. It is a great time, everyone is getting some free money, and everyone is having some fun. But the thing is, if you get greedy and ask for too much, expect to get your hand slapped. That is kind of how I am feeling about these conditions. I am loving it right now. I am realizing gains hand over fist, but I am skeptical, knowing that eventually, our hands are about to get slapped. The hard part now, though, is being able to time everything perfectly and doing what you can to get as much money from the markets as possible prior to getting slapped, and before getting slapped, you have to prepare to fight that granny. I believe that once we see some bearish momentum in the markets, it will cause the euphoria in the markets to dissipate, and we will come back to “reality.” I do not expect to see us sell off and reach relative lows, but it would not surprise me to see a 3-5% correction across the board prior to Trump being inaugurated.
Again, I just have to restate this. I am not bearish. I am not advising you all to be bearish. These market conditions are strong, and traders should be optimistic. But despite being optimistic, you should be realistic with your expectations of the markets and be skeptical of these conditions. I will never deny free money; these past couple of days have been some of the easiest to navigate. But despite conditions being easy, does not mean you should not prepare accordingly for what inevitably will come with time.
For my allocations today, as I have been saying over the previous couple of days, I “intend” to be more passive in the markets. But man have I found that to be one of the biggest lies that I’ve said this year. I do plan on being more passive in the markets today, but opportunities are going to continue to present themselves, and I am happy to take on the exposure and do what I can to realize gains and capitalize on these conditions. I’ll do what I can to realize as many gains as possible, but at the same time, I am in a situation where I do anticipate getting into plays, but I just want to be smart and level-headed while I do that.
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, BTC, $RIVN, $TSLA, $NVDA, $AMD, $BA, $META, $INTC
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $INTC / $BA / $RIVN
Economic News for 11/11/2024 (ET):
Veteran’s Day - Bond Market Closed
Notable Earnings for 11/11/2024
Pre-Market Earnings:
monday.com (MNDY)
Global Ship Lease (GSL)
ICL Group (ICL)
Nuwellis (NUWE)
Rockwell Medical Technology (RMTI)
Aramark Holdings (ARMK)
RadNet (RDNT)
Lincoln Educational Services (LINC)
Sapiens International (SPNS)
After Market Earnings:
Zeta Global (ZETA)
Grab Holdings (GRAB)
Assertio Therapeutics (ASRT)
Luminar Technologies (LAZR)
IAC (IAC)
ANGI Homeservices (ANGI)
Assured Guaranty (AGO)
Nevro Corp (NVRO)
Wrap up
Expect to see lower volume today as a result of people being confused about market conditions today. Bond markets are closed, traders are optimistic, and we are going to have an amazing time. Conditions will be confusing and difficult to navigate, so tread lightly, but let your winners win, and continue to do what you can to maximize your profit potential. This should be an extremely fun time for the markets, so let’s realize some gains and have a great time!
Good luck trading, and let’s see what this week has in store for us!