HaiKhuu Daily Report 12/06/2023

Good morning, and happy Wednesday! This week has flown by, and market conditions are looking extremely interesting. We are continuing to chop around this daily conversion line support resistance level, causing a lot of confusion and difficulty trading. Hopefully, you all have been able to navigate these conditions well and capitalize on the opportunities that have been presented to us. There have been numerous trades you could have taken over the previous couple of days that could have netted you a significant amount of realized gains, and at the same time, could have taken many trades that would have ultimately lost a significant amount.

Thankfully, we are back above the daily conversion line support again, which could ultimately mean that we could see a continuation of general confidence in the markets, but I would be extremely cautious and careful in these market conditions. Lots of individuals are going to get wiped out over the next couple of trading days during these confusing times, so as always, just make sure to practice safe risk management, limit your downside risk, and protect your bottom line.

This is going to be an exciting time for the markets that provide us with many opportunities, so let’s take advantage of the momentum and realize gains in the process.

Good luck trading today, and let’s have some fun!

The updated $SPY daily levels are as follows:
Conversion Line Support/Resistance: $456.50
Baseline Support: $436.93
Strong Psychological Support: $450
Daily Cloud Support: $431.44

$SPY Daily Candles - [12/05/2023]

Thoughts & Comments from Yesterday, 12/05/2023

Yesterday was an interesting day for the markets, filled with a significant amount of chop and difficulties navigating the markets confidently. Lots of traders unfortunately realized losses while attempting to capitalize on the market momentum. There were many opportunities to trade, but the chop made trading extremely inconsistent and difficult unless you made extremely tight scalps throughout the day.

We started the day with $SPY looking extremely weak, opening the day trading at $455.28, down from the previous close of $456.69. Market conditions were not looking optimal, but we were looking extremely strong right at open. Markets quickly pushed into the anticipation of economic news, and once that news dropped, markets ripped and rallied to a relative high, with $SPY going green for the day, to watching market momentum slow down going into the lunchtime lull. But during the lull, is when the markets started to go crazy. $SPY continued to rally throughout the low volume, resulting in $SPY making the official high of the day trading at $457.57, up slightly, and displaying relative strength in the process.

This pump in the markets was nice but was extremely short-lived as $SPY quickly dropped back from the high to test the relative lows of the day. By the time the selling was over, $SPY dropped approximately $2 within an hour and resulted in us continually trading within an extremely tight range for the rest of the day, remaining within a $0.50 range for the large majority of the afternoon.

$SPY did slowly move up with some bullish momentum towards the back of the day, but the chop made trading extremely difficult trading with any sort of consistency or confidence.

We ended the day with $SPY trading at $456.60, above the daily conversion line support, down $0.09 for the day from the previous close, with an intraday bullish movement of +0.29%

It was an extremely tough day, but we were provided with many opportunities to trade. Hopefully, you all were able to come out of yesterday unscathed, but I know that a lot of people had a lot of difficulties navigating the markets. Let’s see what today has in store for us, and have a great time in the process!

Heatmap - $SPY 12/05/2023

Thoughts & Comments for Today, 12/06/2023

Today is going to be another toss-up day for the markets, with a lot of confusion. There is a significant amount of strength in the markets, mainly with the placement we have, but this is not the time to be overly bullish or bearish.

Traders right now are going to have the best time, as they will have the most opportunity with the least amount of overall risk. I still do not advise investing in these market conditions unless you are looking at organizations that are highly undervalued and tread exceptionally lightly if you are not confident allocating right now.

People who want to force trades will have an extremely difficult time in these conditions due to the inconsistencies in the markets.

Be fluid with your allocations, look for opportunities to trade, and just continue to practice safe risk management. I think there is a high likelihood that the markets will continue to rip and rally, while there is the need for the markets to come down 3-5% as a minor correction to reaffirm the confidence that is necessary for this sort of movement in the markets.

Until then, though, markets can realistically continue to act irrationally, and we can sit back and watch as $SPY makes a new 52-week high with relative ease. Just continue to watch our placement in these conditions and how $SPY reacts toward the daily conversion line support.

We realistically are about to see an extremely large movement in the markets, but it now is a question of whether we are going to see a breakout as we rally into the end of the year. Or are we about to see a quick snapback as market conditions weaken?

Just continue to tread lightly, be fluid with your allocations, and practice safe risk management in these market conditions.

For my personal allocations today, I will be looking for easy opportunities to follow the general market momentum and realize gains with relative ease. I’ll be actively scalping the market momentum and realizing gains quickly from scalps. I have a couple of speculative plays that I will be actively watching throughout the day and looking to adjust, which should be a lot of fun. I still have a couple of organizations on my radar, like $DIS, $QS, and $RIVN, but I would rather wait and attempt to allocate at the pre-designated prices that I am interested in allocating at than entering early and regret second-guessing myself in the case we come back down to where I want to allocate. Just remember, $15~ entry for $RIVN, $85~ entry for $DIS, and Daily Cloud for $QS are the target entry prices I’ll be actively watching for.

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 tough day for both the markets and the algorithm. Markets performed alright despite the general conditions, but it was difficult to capitalize on the movement on an intraday basis. The algorithm underperformed in comparison to the markets. I am happy to see that the algorithm was in line with the performance of the long-term portfolio, so between everything, the underperformance was not only due to the algorithm but also the allocations that were selected in the process. Sucks to see this, but at least on a larger scale, the performance of the algorithm is still strong.

The results of yesterday are as follows:

Baseline:

• $SPY: +0.29%

Our Results:

• Variable Sector Neutral: +0.09%

• Long Term Portfolio: -0.02%

• Sector Neutral: -0.02%

• Base Algorithm: -0.03%

• Variable Market Neutral: -0.09%

• Market Neutral: -0.26%

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 12/06/2023

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, $QS, $RIVN, $DIS, $F, $NVDA, $MSFT, $AAPL

Position Opportunities:

• Trade the market momentum

• Take profit on positions

• Limit your downside risk

• Hedge your positions

• Consider getting bearish exposure

LONG OPPORTUNITIES:

• Long-Term Dividend - $GAIN / $JEPI

• Long-Term Investment - $KO

• Long-Term Auto Sector - $F

• Speculative Re-Entry - $DIS / $RIVN

Economic News for 12/06/2023

• ADP Employment - 8:15 AM ET

• US Productivity - 8:30 AM ET

• Trade Deficit - 8:30 AM ET

Notable Earnings for 12/06/2023

Pre-Market Earnings:

• Vera Bradley (VRA)

• Campbell's Soup (CPB)

• THOR Industries (THO)

• Korn/Ferry International (KFY)

• United Natural Foods (UNFI)

• John Wiley & Sons (WLY)

• Barnes & Noble (BNED)

After-Market Earnings:

• C3AI (AI)

• Gamestop (GME)

• ChargePoint (CHPT)

• Chewy (CHWY)

• Veeva Systems (VEEV)

• Braze (BRZE)

• Semtech Corp (SMTC)

• Duckhorn Portfolio (NAPA)

• Sportsman's Warehouse Holdings (SPWH)

Wrap up

This should be another confusing day for the markets with significant chop and opportunity. Take advantage of the opportunities that are presented to us, realize gains, and only trade when you are confident to do so. This is the time to take on some risks in the markets and actively trade, but this is NOT the time to attempt to take on some dumb risk. Practice safe risk management, make good allocations, and have a great time in the process.

Good luck trading today, and let’s see what happens today!