HaiKhuu Daily Report - 11/26/2024
Good morning, and happy Tuesday! Wow, that was a volatile after-hours session, but markets have recovered fully from the quick sell-off during the futures session. I hope you all are ready for another amazing day. Market conditions are looking great, traders are confused, and this week is only going to continue to fly by. With $SPY looking extremely strong at the moment, it would not surprise me if we saw another breakout in the markets, but at the same time, there is going to be such a drastic reduction in volume that the only thing that worries me, is that we continually watch these market conditions do absolutely nothing, and ends up chopping traders around consistently as the markets move within a $1 range throughout the entire day, or for an extended period of time.
We saw what we were talking about come true yesterday with the momentum in the afternoon, so expect to see the same level of volatility today, but be pleasantly surprised if conditions shift for the better. Again, I still believe that market momentum is going to be weak today due to low volume, so be careful and tread lightly. These conditions are going to be difficult to navigate with confidence, mostly if you are attempting to scalp or trade while markets are not moving.
Good luck trading today, and let’s see where the markets take us today!
The updated $SPY daily levels are as follows:
Conversion Line Support: $592.36
Baseline Support: $584.38
Psychological Support: $590
Psychological Resistance: $600
Daily Cloud Support: $575.30
Thoughts & Comments from 11/25/2024
Yesterday was an interesting yet tough day for the overall markets. There was no great bullish momentum you could have capitalized on, but $SPY made a new all-time high, and we ended the day beautifully green, so there is not much we can complain about outside the fact that it was extremely low volume slow, and choppy.
We started the day with $SPY opening the day at $599.51, and watched as there was beautiful bullish momentum at open, where $SPY went on to make the official all-time high trading at $600.85. Conditions at the top were beautiful but extremely short-lived, as we quickly rejected the high, broke below $600, and sold off until the end of the lunchtime lull, where $SPY made the official low of the day, trading at $595.22. Conditions at the bottom were relatively gross, but opportunities did present themselves, as markets did show a sign of a reversal, bouncing from the low and hovering around $597 for the entire afternoon.
When I say that nothing happened during the afternoon, I seriously mean that nothing happened in the markets. We continued to remain at that level throughout the entire afternoon, not moving or doing anything of any excitement. There were opportunities to capitalize on different organizations that were trending at the time, but $SPY did nothing and remained relatively neutral throughout the entire afternoon, where we officially ended the day trading at $597.53, up $2 for the day, or roughly 0.3%.
It was still a beautiful day for the markets as many organizations remained extremely green throughout the day, and provided everyone with some amazing opportunities to sit back, relax and enjoy. Let’s see more days like yesterday and just enjoy realizing gains consistently.
S&P 500 Heat Map - 11/25/2024
Thoughts & Comments for Today - 11/26/2024
Today should be another fun day for the markets. I do have concerns about the general safety of these conditions, though. I believe that we all should have an amazing time, and conditions should be relatively strong, but I am concerned about the lower volume in the markets as I’ve discussed. I think that there is a great opportunity to trade, but at the same time, I am not comfortable nor confident enough to say that conditions are going to shift in comparison to yesterday. Please tread lightly and practice safe risk management in these conditions, and if markets are not trending, please do not force any allocations.
There are going to be a lot of individuals who are ultimately going to get stuck in positions, clapped around, over trade, and become emotional and irrational in these market conditions. That is just a fact, but at the same time, is also a warning. In the case that the markets stop moving and are within a consolidation phase, do not attempt to allocate into either direction because you “feel” that a movement is coming. The only thing that you are “feeling” is the fact the market markets trapped you, and you’ll feel the hurt when markets come down quickly against your position, ultimately ruining your day and causing you to generate some losses.
So, my recommendation for you, assuming that you are already in many great positions, is to simply sit back, relax, and watch these market conditions. I was able to sit back and relax yesterday, as every single position in my portfolio was beautifully green, but because I felt the urge and need to trade, the single position that lost me money yesterday was due to wanting to trade when the momentum was not favorable, and resulted in generating a minor amount of losses, but realized losses nonetheless.
One fun thing that I do want to coin, is the term “All-Green”. I know it might sound dumb, but I am going to try and get this to catch on. The definition of “All-Green” is when every single position in your portfolio is green. It is the equivalent of hitting a hole in one in the markets, but at the same time, becomes exponentially harder the more positions you have in your account. Someone with one position in their account can get an “All-Green” by having their single position be green, but that is the equivalent of hitting a hole-in-one on a mini-golf course. Still a hole-in-one, but a lot different than the guy who has 10+ positions at once.
For my allocations today, I do plan on remaining more passive due to the low volume in the markets. I have long positions that I will be holding and I do not anticipate allocating differently throughout the day. I do not believe that the momentum at the moment would be favorable towards my trades and that is the reason why my sentiment remains. if conditions change, then I will be allocating when I am confident doing so; if not, I’ll sit back, relax, and enjoy my positions!
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, $TSLA, $NVDA, $BA, $AIFF
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $DG / $SHAK / $BA / $RIVN
Economic News for 11/26/2024 (ET):
Consumer Confidence - 10:00 AM
New Home Sales - 10:00 AM
Minutes of Fed’s May FOMC Meeting - 2:00 PM
Notable Earnings for 11/26/2024
Pre-Market Earnings:
Abercrombie & Fitch Co (ANF)
Kohl's (KSS)
Macy's (M)
Best Buy (BBY)
Burlington (BURL)
Analog Devices (ADI)
DICK'S Sporting Goods (DKS)
J.M. Smucker (SJM)
After Market Earnings:
Dell Technologies (DELL)
CrowdStrike (CRWD)
Workday (WDAY)
Autodesk (ADSK)
Ambarella (AMBA)
HP Inc (HPQ)
Nutanix (NTNX)
JOYY (YY)
Wrap up
Hopefully, market momentum remains favorable, presenting us with great opportunities to trade and realize gains. Please again be careful, as I am expecting tougher market conditions to capitalize on. So tread lightly, but at the same time, make some smart allocations. If the markets are not moving, wait until opportunities present themselves, and if not, sit on your hands and watch as your positions play out beautifully!
Good luck trading, and let’s see if markets give us the cold shoulder!