HaiKhuu Daily Report - 11/25/2024
Good morning, and happy Monday!!! I hope you all had a wonderful weekend, and are ready for an extremely short week for the markets! The markets are CLOSED this Thursday for Thanksgiving, and markets will be open for a HALF day on Friday, officially closing at 1 pm EST! This is going to be a wild time for the markets, with a decrease in volume, irrationality, and hopefully bullish momentum. I’ll touch on this later on in the report, but for now, here are the major events you should look out for this week!
Monday: Zoom Earnings (AH)
Tuesday: Consumer Confidence / FOMC Minutes
Wednesday: Jobless Claims / GDP
Thursday: We all gain 3 pounds
Friday: Chicago Business Barometer / Half Day
Regardless of what is happening, expect lower volume and volatility across the board this entire week. Expect significantly lower volume on Wednesday as everyone is leaving their desks early, and expect no volume on Friday as no one has woken up from their food coma!
There is an extremely high likelihood that $SPY does reach $600 this week, so allocate accordingly and realize some gains!
Good luck trading today, and let’s watch this week fly by!
The updated $SPY daily levels are as follows:
Conversion Line Support: $591.58
Baseline Support: $584.03
Psychological Support: $590
Daily Cloud Support: $572.90
Thoughts & Comments from Last Week
Last week was an interesting week for the markets. There were choppy conditions that were difficult to navigate, cryptocurrencies rallied again, and crypto meme season is amongst us. We had some wild volatility in the markets that traders could have easily capitalized on, and anyone simply holding positions had a wonderful, relaxing time realizing a significant amount of gains!
So, we started the week with $SPY trading at $586.13, looking relatively strong as $SPY pushed and remained neutral throughout Monday before dipping and chopping on Tuesday. This resulted in some wild daily candles, but Wednesday and Thursday’s candles were heartbreaking and account-shattering.
Wednesday, we watched as $SPY opened the day at $590.38, watched as we made the official low at $584.63, and recovered and ended the day at $590.50, meaning there was a $6 range, from the top to the bottom, despite only moving $0.12 from open, and on Thursday, we watched as $SPY opened at $593.40, made the official high of the day trading at $595.12, making the low of the day at $593.67, and officially ending the day at $593.67, up roughly $0.30 from open, but made almost an $8 range in the process. Both of these days provided amazing opportunities to trade but also provided us with great opportunities to get slaughtered in the process.
Thankfully, Friday was a significantly better day for the overall markets, continually chopping around, making it difficult to navigate on an intraday basis, but I would much rather deal with choppier market conditions than extremes like Thursday and Friday.
We officially ended last week with $SPY trading at $595.51, up roughly $9, or 1.6%. It was an amazing week for the markets with opportunities presented to us across the board, so hopefully you all were able to capitalize on the strength of the market conditions with us, and had a great time in the process. We will see where the markets take us this week and make the most of it!
S&P 500 Heat Map - Last Week
Thoughts & Comments for Today - 11/25/2024
Today should be a fun time for the overall markets. Conditions are looking amazing during the pre-market session, and we are displaying a significant amount of confidence across the board. $SPY is up roughly $3 at the time of writing this report, trading less than $1.50 away from the previous all-time high. I believe with confidence that there is an extremely high likelihood of us making a new all-time high on $SPY this week, assuming that all conditions remain as expected and remain optimal.
The reason why I am confident of this is due to the fact that “What has happened in the past predicts the future.” Obviously, this is a flawed ideology, but typically, what happens on weeks like Thanksgiving or other short weeks for the markets will see low volume and choppier market conditions, where any directional move is extremely exaggerated but typically is mildly bullish. Assuming there is no massive sell-off, I would expect to see a slow, bullish week, but in the case, we do see markets start to sell off, I would expect to see a significant amount of selling, as there is not the buying liquidity to combat the selling. Stair step up, elevator shaft down.
Obviously, that is just speculation on what the markets will do this week, but we’ve seen this time and time again: realistically, go into this week with the expectation that this happens, but do what you can to tread extremely lightly.
I will warn the people who are attempting to scalp and trade throughout this week. This momentum is going to be extremely difficult for you to be able to navigate with confidence. With the way that the markets react on weeks like this week, we typically see extremely tight ranges that will stop traders out indefinitely until the trader has called it a day after realizing too many losses to chop, and ultimately end up watching as the markets break out favorably in their direction. Yes, you will be able to scalp and day trade consistently this week, but just expect that you will have difficulties in these inconsistent market conditions.
For my allocations, if I am just being completely honest, I do not anticipate actively trading this week. I have a lot of work that needs to get done around the fact that markets are inconsistent and not favorable. I am in a significant amount of long positions at the moment, and I really do not feel the necessary urge to gamble while conditions are not optimal for us. I may get some scalps on an intraday basis, but please know that I do anticipate treading extremely lightly in these conditions for personal safety. My long holds are setting up nicely, and I’ll most likely take this week just to manage those positions accordingly!
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, $DG, $RIVN, $GRYP, $SHAK, $TSLA, $NVDA, $BA
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $DG / $SHAK / $BA / $RIVN
Economic News for 11/25/2024 (ET):
No News Scheduled
Notable Earnings for 11/25/2024
Pre-Market Earnings:
Bath & Body Works (BBWI)
Super Hi (HDL)
After Market Earnings:
Zoom Video Communications (ZM)
Semtech (SMTC)
Fluence Energy (FLNC)
Agilent Technologies (A)
Grupo Supervielle (SUPV)
3D Systems (DDD)
Wrap up
Hopefully, market conditions will continue to remain strong, and we will be able to break above the $600 resistance level on $SPY with ease. Please tread lightly as this is going to be an extremely low volume week, but make the most of these strong market conditions!
Good luck trading, and let’s see where this week takes us!