HaiKhuu Daily Report 11/22/2023
Good morning, and happy Wednesday! Before I get started on anything, I just want to wish you all a happy Thanksgiving and let you all know I am genuinely thankful for each and every one of you. Thank you so much for being a part of the HaiKhuu Family, and we all genuinely appreciate having you here with us. There is a lot in the works in the background right now, so I hope you all are excited because there is a lot coming in 2024. This has been an extremely interesting time growing this organization since 2016, and I am excited to see what happens.
Back to the markets, $SPY is up nicely at the time of writing this report, as there is a lot of general strength as a result of $NVDA earnings yesterday. The expected move was significant, but unfortunately, it is only up approximately 1% from the close yesterday. This is good for the markets as there is continued strength as volatility from $NVDA earnings has subsided. We are looking strong going into open, and this is going to be an interesting day for the markets.
I personally am expecting a slow bleed-up throughout the trading day, with a mix of chop, making trading slow and relatively inconsistent.
Be extremely careful while attempting to trade today, and just remember that the markets are CLOSED tomorrow, and we will only have a half day on Friday. Markets close at 1 pm EST on Friday, so enjoy your four(?)ish day weekend from the markets!
Good luck trading today, and let’s have a great time!
The updated $SPY daily levels are as follows:
Conversion Line Support: $444.48
Baseline Support: $432.17
Strong Psychological Support: $450
Daily Cloud Support: $432.50
$SPY Daily Candles, Continued Bullish Momentum - [11/21/2023]
Thoughts & Comments from Yesterday, 11/21/2023
Yesterday was an extremely tough day for the markets. If you attempted to trade, if you timed your positions out correctly, should have provided you with a great time, but it was extremely difficult to capitalize on the markets as a result of extreme chop and a general lack of significant momentum.
$SPY started the day down slightly from the previous close, opening the day trading at $453.15. With $SPY being down from $453.26, it was not the best feeling at open, but the feeling throughout the rest of the day honestly was worst. $SPY remained relatively neutral at the open price, coming down slightly after opening, but remained neutral for a solid half hour until we got news about existing home sales. Right at 10 am EST, the markets took a quick dive, and $SPY went on to make the official low of the day, trading at $451.96. This was only a small dip in the markets but was the only “significant” dip we saw throughout the day.
After making the low of the day and bouncing up, there was slight confidence coming back into the markets, but it was nothing of any major significance, as it was a continued slow bleed-up during the lunchtime lull. The lunchtime lull was very underwhelming, providing us with absolutely zero momentum in the markets, and only started to pick up as volume came back to the markets. Once volume started to come back into the markets, $SPY did pick up again and pushed to make the official high of the day trading at $453.65, up literally $0.50 from open, and played around that level until the FOMC minutes came out.
Once the minutes were released, market conditions remained neutral and continued to play within an extremely tight $0.50 range for the rest of the trading day, not providing us with any opportunities to trade or allocate with relative confidence.
It was very difficult navigating the markets, but realistically at the same time, if you wanted to take on some risk and attempt to play 0-DTE contracts, could have continually flipped them into close.
We ended the day with $SPY trading at $453.27, down roughly $1 from the previous close, or approximately 0.22%, with an intraday bullish movement of $0.12 or 0.02%. It was a terrible time for the markets as there were many organizations that moved around heavily, but the markets remained neutral, causing not much to be loss or gained for the majority, but difficult to navigate if you were attempting to trade at that time.
Hopefully, we see more momentum-based movements in the markets today and see more movement that we can trade with confidence.
Heatmap - $SPY 11/21/2023
Thoughts & Comments for Today, 11/22/2023
Hopefully, today will be an interesting day for the markets with many opportunities to trade and some beautiful bullish momentum, but realistically, that is not going to be the case.
Go into today with the expectations to see lower general volume, lower momentum in the markets, and not many opportunities to trade with confidence. Expect to see some chop in the markets and not many opportunities to allocate with confidence.
If you cannot find any opportunities to allocate into the markets today, this is going to be one of those days that I simply recommend that you do not force any positions. There is a very high likelihood that the movement in the markets today is extremely momentum-based and slow, so please do not fight any trends.
Nvidia is going to be an interesting watch today because, as a result of earnings yesterday, IV is down significantly, and the movement on both $NVDA and $MSFT is going to lead the general market momentum today. Hopefully, we see a breakout on $NVDA back to all-time highs, but it is not something that I genuinely am banking on in the short term.
This, again, is going to be an extremely difficult day to navigate with confidence, and I do not recommend attempting to trade unless there is a confirmation of momentum in the markets. If there is momentum, I would only trade lightly and simply just sit back and watch as the position plays out throughout the day.
Continue to consider entering into hedges at this point. For the majority of the month, $SPY has had a continued bullish trend, which is extremely confident and provides us with many opportunities to generate a significant amount of unrealized gains. As a result of this, there is an extremely high likelihood that the markets to correct in some form in the short term. I am not stating that we need to see a significant movement back down where we are seeing relative lows again, but I am saying we do need a small pullback in the short term for this momentum to continue. I don’t know if it will happen anytime soon, but it is bound to happen eventually.
Personally, for my allocations today, I do not anticipate entering or exiting any positions. This may not sound fun or exciting, but that is genuinely my sentiment for the day. I have many open allocations at this point with some solid exposure across the board, and this is going to be one of those days that I do not anticipate entering into any allocations. Markets are going to have lower volume, momentum, and opportunity, so I am not going to force anything and create a trade out of thin air. I want to see a continual grind up in the markets, but I will not be allocating in anticipation of this.
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. Markets didn’t move much on an intraday basis, where everything remained neutral. This is not a sign of confidence in the fact that results came back the way that they did, but thankfully, it is not a bad sign, as the performance of the algorithm could have very easily underperformed. It would have been nice if the systems outperformed $SPY by a significant margin yesterday. So, we take the results and move on.
The results of yesterday are as follows:
Baseline:
$SPY: +0.02%
Our Results:
Long Term Portfolio: -0.01%
Base Algorithm: -0.02%
Variable Market Neutral: -0.03%
Market Neutral: -0.03%
Sector Neutral: -0.04%
Variable Sector Neutral: -0.07%
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 11/22/2023
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 , $NVDA, $TSLA, $DIS, $AAPL, $MSFT, $F, $GM, $DIS
Position Opportunities:
Trade the market momentum
Set stops in guaranteed profit
Limit your downside risk
Hedge your positions
Consider getting bearish exposure
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $DIS / $DG / $KO
Long-Term Auto Sector - $F / $GM
Economic News for 11/22/2023
Jobless Claims - 8:30 AM ET
Durable Goods Orders - 8:30 AM ET
Umich Consumer Sentiment - 10:00 AM ET
Umich Inflation Expectations - 10:00 AM ET
Notable Earnings for 11/22/2023
Pre-Market Earnings:
Deere & Company (DE)
Baozun (BZUN)
GDS Holdings (GDS)
Tremor International (TRMR)
Allot Communications (ALLT)
After-Market Earnings:
LexinFintech Holdings (LX)
Wrap up
This is going to be an interesting time with a high likelihood of the markets slowly bleeding up. Follow the market momentum, don’t do anything that would ruin your Thanksgiving, and just make some smart decisions throughout the trading day. There are going to be many opportunities to trade, so don’t force any positions. Expect to see a lot of chop, and just protect yourself while attempting to trade today!
Good luck trading today, and happy Thanksgiving!