HaiKhuu Daily Report 11/30/2023
Good morning, and happy Thursday! Hope you traders are doing well and are feeling phenomenal. Markets are looking interesting, with a significant amount of general economic data coming out during the pre-market session that would cause a significant amount of turbulence. I hope you all are ready for ongoing confusion, chop, and market momentum.
We are starting to see larger movements in the overall markets, meaning we are in the process of picking a direction. It is just a matter of if we continue moving up or ultimately come down. We do need to see which direction the markets want to go, but realistically, we are either going to break out and hit 52-week highs on $SPY, or we are going to come down and sell off. Ideally, as much as I want to continue to be hyper-bullish on these market conditions, I would like to see a minor correction of 3-5% on $SPY to give us another load-up opportunity before a rally into the end of the year but realistically if we continue to move up and make 52-week highs from this point, I am sure no one would be upset in the process.
Let’s see what the markets have in store for us today and realize significant gains.
Good luck trading today, and let’s have a great time!
The updated $SPY daily levels are as follows:
Conversion Line Support: $453.81
Baseline Support: $433.77
Strong Psychological Support: $450
Daily Cloud Support: $435.74
$SPY Daily Candles - [11/29/2023]
Thoughts & Comments from Yesterday, 11/29/2023
Yesterday was an extremely tough day for the overall markets. There were some solid opportunities to trade and scalp throughout the day, but it was tough capitalizing on the momentum in the markets unless you were extremely bearish from open and allocated accordingly.
We started the day with $SPY trading at $457.14, up nicely from the previous close of $454.93, and was looking extremely strong from the open. Markets pushed right away, breaking above $458 quickly and making the high of the day trading at $458.31. Once the official high of the day was hit, we did start to see some general weakness in the markets as sentiment shifted right at 10 am EST and this was the start of the bearish momentum in the markets.
$SPY quickly dipped to test $456 going into the lunchtime lull and only continued to sell throughout the lunchtime session, making a relative low being black for the day, hovering right at $455. Markets were still green in the process, but it was a quick dive from the top.
Thankfully, after the lunchtime lull ended and volume started to pick back up, $SPY moved up and broke above $456 and displayed strength in the process, continuing to hover around that $456 level and retained that level for a large part of the afternoon. Market momentum was not ideal at that time, but it still had enough relative strength that we were able to sustain the movement up and remained there until power hour.
During power hour, market conditions did weaken as we finally dropped below $456 and continued to sell off into close. We made the official low of the day with $SPY trading at $454.21 and watched as $SPY slightly recovered into close, officially ending the day trading at $454.61, down $0.32 for the day, or 0.07% from the previous close, with an intraday bearish movement of -0.56%.
It was a tough day to trade, and hopefully, you were able to realize some gains yesterday. There were some great opportunities in the markets despite the weakness, as people who were watching and playing $F, $GM, and $DIS all were able to realize a significant amount trading yesterday!
Let’s see what the markets have prepared for us today and have some fun!
Heatmap - $SPY 11/29/2023
Thoughts & Comments for Today, 11/30/2023
Today should be a fun day for the markets. At the time of writing this report, $SPY is up and is looking strong. We have a lot of economic news that will make trading extremely inconsistent throughout the morning but provide us with many great trading opportunities. I would advise you all to remain cautious and wary of these market conditions but take advantage of anything that presents itself to you. There are going to be many phenomenal plays that happen today, so catch what you can and realize some gains.
Following the market momentum should be relatively easy, assuming you are actively trading, but is going to be difficult if you are continually buying and holding. If you are in the mood to attempt to buy and hold organizations, I would advise caution right now and only allocate when you have the confidence to deploy capital. There are many organizations that are in a great spot and many organizations that are highly overvalued. I would continue to stay away from higher beta tech organizations that are overvalued at the moment, IE $NVDA, but look for opportunities to deploy capital with confidence. You might need to wait a little bit longer to allocate at a price you have confidence in, but ultimately, a strong position that is timed correctly will net you significantly more than forcing a weak position because you want an allocation.
Two organizations that I put back on my watch list are $DIS and $RIVN. It’s funny, as I just exited the remainder of my $DIS position and am already attempting to time out a re-entry in the organization. Both organizations have a significant amount of upside potential, and it is just a matter of the current pricing and positioning before I decide to re-enter any of those organizations. If you are interested, these are the price points and entries I am interested in.
Disney - $DIS
Initial Entry - $85/Share @ HALF allocation
Average in - $83/Share @ WHOLE allocation (Double Down)
Purchase Calls - $80/Share
Purchase Leaps - Under $80/Share
Rivian - $RIVN
Initial Entry - Here @ Quarter Position
Average in - $15/Share @ Half Position (Double Down)
Average in - $13/Share @ Whole Allocation (Double Down)
Purchase Calls - $13/Share
Purchase Leaps - Under $13/Share
This is obviously not financial advise, nor a signal to buy or sell any of these positions, but are my personal targets that I am interested in entering into. If I enter into any of these positions, I will obviously let you all know in real-time when I enter and when I add to any of these positions.
For my allocations today, I do not know what my plans are for entry yet, as there is a significant amount of chop and momentum-based movements that we are anticipating. I realistically will be looking out for opportunities to scalp throughout the day, and attempt to allocate lightly into $RIVN if market momentum looks sustainable. Outside of that, I am happy that I am 100% out of both my $DIS and $GM positions. Both did phenomenally, and I am glad to be out, so now is the time to look for other organizations that I can enter into and have general exposure to. Cash is still going to be king in these conditions, but deploying cash in spots that you have confidence in is going to be even better.
If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.
HaiKhuu Proprietary Algorithm Report:
Yesterday was a great day for the algorithm. Our bullish strategies generated losses but outperformed the markets by a significant margin. Our neutral strategies did extremely well in comparison to $SPY, and I am glad to see that. We should have quantifiable data about our latest beta test soon and provide us with a sentiment regarding the algorithm and its performance in the next week. Be on the lookout for that and how we move forward with this system.
The results of yesterday are as follows:
Baseline:
$SPY: -0.56%
Our Results:
Market Neutral: +0.31%
Variable Market Neutral: +0.08%
Sector Neutral: +0.06%
Variable Sector Neutral: +0.06%
Long Term Portfolio: -0.14%
Base Algorithm: -0.19%
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 11/30/2023
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, $RIVN, $DIS, $F, $NVDA, $MSFT, $AAPL
Position Opportunities:
Trade the market momentum
Set stops in a 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*
Speculative Re-Entry - $DIS / $RIVN
Economic News for 11/30/2023
Initial Jobless Claims - 8:30 AM ET
Personal Income/Spending - 8:30 AM ET
PCE Index - 8:30 AM ET
Fed’s Williams Speaks - 9:05 AM ET
Chicago PMI - 9:45 AM ET
Pending Home Sales - 10:00 AM ET
Notable Earnings for 11/30/2023
Pre-Market Earnings:
Kroger (KR)
Academy Sports and Outdoors (ASO)
Big Lots (BIG)
TD Bank Group (TD)
Build-A-Bear (BBW)
Royal Bank of Canada (RY)
Cracker Barrel (CBRL)
BRP Inc (DOOO)
After-Market Earnings:
Marvel Technology (MRVL)
ULTA Beauty (ULTA)
UiPath (PATH)
Dell Technologies (DELL)
Ambarella (AMBA)
Samsara (IOT)
American Woodmark Corp (AMWD)
Tilly's (TLYS)
Wrap up
This is going to be an interesting day. Hopefully, we see some continued bullish momentum in the markets and realize a significant gain in the process. However, if market conditions do not look favorable, watch out for both chop and bearish momentum. Follow the momentum in the markets, realize some gains in the process, and take advantage of any opportunity that is presented to you.
Good luck trading today, and let’s see what the markets have in store for us today!