HaiKhuu Daily Trading Report

Good morning, and happy Monday! I hope you traders had a great weekend and are excited about this week because market conditions are extremely strong, and markets show significant confidence. $SPY made a new 52-week high on Friday, and there is significant confidence across the board. Markets were down slightly at the time of writing this report, but $SPY has moved up nicely and is trading above the daily conversion line support. This is confidence coming back into the markets, and we should continue to take advantage of the opportunities that are presented to us. We are in greed on the fear and greed index, providing us with what is an amazing opportunity to realize some gains.

Continue to trade this market momentum, realizing some gains and protecting your bottom line.

Good luck trading this week, and let’s realize some gains!

The updated $SPY daily levels are as follows:
Conversion Line Support: $457.04
Baseline Support: $446.88
Strong Psychological Support: $450
Daily Cloud Support: $431.44

Thoughts & Comments from Last Week

Last week was an insane time for the markets. $SPY was relatively neutral for the majority of the week, and trading was extremely inconsistent despite providing us with many great opportunities to trade and realize gains. The overall movement throughout the week was roughly +1% on $SPY, but there were many great opportunities to trade and generate significantly more than that. Hopefully, you all were able to capitalize on the confusing market momentum and realize a significant amount as a result.

Monday started the week off relatively neutral on the overall day. There was some significant movement on an intraday basis but neutral overall. $SPY opened the day trading at $455.60 and came down slightly to make the official low for the day trading at $454.34. The markets rallied where the official high of the day was $459.12 and ended the day with $SPY trading at $456.69. There was a significant amount of movement and opportunity that we could have capitalized on, but it was difficult doing so in real time. $SPY did continue to respect the daily conversion line support, but at the low of the day, $SPY was below that support and displayed weakness.

Tuesday was a tougher day. There was much more overall neutrality that made trading difficult, but thankfully, we were able to retain the daily baseline support. $SPY opened the day under that support level, displaying weakness at open, but was able to push throughout the day, where we went on to make the official high of the day with $SPY trading at $457.59 and ending the day trading at $456.60, slightly above the support of $456.50.

Wednesday was the day that displayed the most weakness and difficulties in the markets throughout the entire week. $SPY opened the day up nicely from the previous close, opening at $458.81 and quickly making the official high of the day, trading at $458.84. There was only strong bearish momentum throughout the entire day, as $SPY slowly dropped throughout the entire day, only slowing down to test the daily conversion line support. Once testing that support level, $SPY continued to display selling and weakness, breaking through that level and continuing to make new official lows of the day throughout the entire afternoon. We went on to watch as $SPY made the official low of the day, trading at $454.31 and ended the day trading at $454.76, significantly below the daily conversion line support of $456.50 and displaying a significant amount of weakness in the markets, as this was the first time the markets dropped and held below this conversion line in over a month.

Thursday was a better day for the overall markets, though. There was relative strength, and we watched as $SPY moved up nicely in the pre-market session, opening back above that daily conversion line support; it was a relatively neutral day with some weak bullish momentum. The movement up we saw was nice, as $SPY opened the day at $456.91 and moved up and ended the day at $458.23, but the movement itself was not significant. The only thing significant in the movement was the fact that $SPY was able to retain the movement above the daily conversion line support and set up the movement we saw on Friday.

Friday was an amazing time to trade. The movement we saw intraday was significant, and there were many great opportunities to realize both gains and losses in the process. $SPY started the day slightly red, trading at $457.43, slightly below the previous close of $458.23, and displayed a significant amount of strength in the process. $SPY continually moved up throughout the entire morning, where within the first hour of the day, $SPY made a new 52-week high, trading above $460. There was significant confusion at this level, though, as $SPY quickly came back down and broke below $459 before rallying back up and breaking above that level again early in the morning. Going into the lunchtime lull, though, markets continually came down, where we went black again for the day and even hinted at red at one point. But as the volume picked up, we watched as $SPY continued to push up and remain extremely consistent throughout the afternoon. $SPY continued to move up and push throughout the entire time, displaying strength and optimism in the markets as we continued to make new 52-week highs. The official high of the day, and a new 52-week high, was $SPY $460.75, and we watched as $SPY came down slightly afterward into the close. We ended the day with $SPY trading at $460.20. The movement up on Friday was amazing, as $SPY was up almost $3 from open and provided everyone with some amazing opportunities to trade and realize a significant amount of gains in the process.

I hope you all were able to capitalize on the market momentum last week easily and realize a significant amount of gains in the process. It was an amazing week for the markets despite some difficulties, and we watched as there were many opportunities to have a great time. Most traders should have been able to realize gains with ease, as it was extremely difficult to have lost with that amazing market movement. Let’s see what the markets have in store for us this week, and hope that we continue to push new 52-week highs in the process!

Thoughts & Comments for Today, 12/11/2023

Today should be a fun day for the markets. I am expecting to see a significant amount of chop and confusion in the markets, but watch as there are opportunities that are continually presented to us in the process. $SPY is currently under the $460 resistance level at this point, but I am expecting to see a chop around that level and the possibility of the markets making a new 52-week high.

As I have been saying, I would not suggest being overly bullish or bearish in these market conditions, but I highly recommend looking for opportunities to simply follow the market momentum and take advantage of the opportunities that are presented to us. There is continued strength in the markets at this moment, which is providing us with opportunities to actively scalp and day trade with relative ease.

These are not the conditions to increase your general exposure in the markets nor attempt to allocate heavily to organizations that are highly “overpriced.” There are still many organizations in the markets right now that have a lot of potential, so there is no reason to attempt to allocate long into organizations like $NVDA at these relative highs, in comparison to other tech organizations that are undervalued and are displaying potential.

My recommendations for the majority of traders are as follows. If you are holding positions that you’ve been in for a while, consider that position and either set a stop in guaranteed profit or look to take some, if not all, of the exposure off. If the position is continuing to display signs of bullish momentum and opportunity, there is no reason why you should take that exposure off unless you are uncomfortable with the current holdings. If you don’t have exposure and you want to allocate to the markets, I would highly recommend that you consider actively trading in these conditions. If you are trading, you can trade some of those “overpriced” equities, as the general exposure is going to be highly limited as the only exposure you have is what you are willing to take on before you limit your risk. I would not suggest allocating long into the markets right now, but I would highly recommend looking to simply follow market momentum when you can to capitalize on the opportunities in these market conditions.

Market conditions are going to be choppy and difficult to navigate in the near future, so I would continue to advise you all to practice safe risk management and to limit your downside risk potential. This does not mean not taking on risks in these market conditions, as there will be many great opportunities for you to attempt to take on risk, but I would highly advise you only to take on smart risk and remain within your personal risk parameters. Lots of traders are going to get extremely lucky, taking on more risk than they understand and generating a significant amount of gains in the process, but many more traders are unfortunately going to wipe out and realize a significant amount of losses in the process. Do what you can to protect your bottom line, but don’t be passive in these market conditions.

Personally, for my allocations today, I am not going to be looking to take on a significant amount of risk. I want to attempt to actively scalp and day trade, but if market conditions are not looking favorable, and there are not some solid opportunities to trade in the markets, I will not force any positions I am not comfortable or confident in. I will continue to ride the allocations that I am in at this time and look to maximize the amount of gains I am able to generate in the short term, but I, again, do not want to take on dumb risks. I am not anticipating entering anything long at this point, but if there are opportunities that present themselves in the short term that I am confident in, then I will enter accordingly and let you all know in real time. Until then, though, I am not comfortable or confident allocating heavily at these levels in the markets, but I will do what I can to follow and trade the market momentum and realize some gains in the process. It should be a fun time, so make some smart and safe decisions in the meantime.

If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.

HaiKhuu Proprietary Algorithm Report:

The algorithm did alright last week. It outperformed the long-term portfolio, which is always a great sign, but it underperformed in comparison to the markets. It is unfortunate to see that there was a slight underperformance, but it is nothing of any major concern. I am happy to see that the algorithm was able to outperform the fundamental analysis that it was built on, but I wish that it was able to outperform $SPY. C’est la vie, the algorithm is doing well, but I cannot lie and say that it is up to my personal standard. We will reflect on the algorithm situation soon and keep you all up to date on the situation.
The results of yesterday are as follows:

Baseline:

$SPY: +0.53%

Our Results:

Variable Sector Neutral: +0.56%
Base Algorithm: +0.4%
Variable Market Neutral: +0.29%
Long Term Portfolio: +0.16%
Sector Neutral: +0.16%
Market Neutral: -0.03%

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.

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, $M, $RIVN, $MSFT, $NVDA, $BA, $QS, $AI

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 12/11/2023

None Scheduled

Notable Earnings for 12/11/2023

Pre-Market Earnings:

None Scheduled

After-Market Earnings:

Oracle (ORCL)
Casey’s General Store (CASY)
Blue Bird (BLBD)
Inotiv (NOTV)

Wrap up

This should be a fun time for the markets. Prepare accordingly and practice safe risk management because I am expecting to see a significant amount of chop and confusion in the markets. We should all be able to realize a significant amount of gains with relative ease, so be smart, be safe, and look for opportunities to realize some gains. Protect your bottom line, but have some fun in the process.

Be safe in these conditions, but Carpe diem, IE, Seize the day.

Good luck trading this week, and let’s make the most out of these market conditions!

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HaiKhuu Daily Report 12/11/2023