HaiKhuu Daily Trading Report

Good morning, and happy Tuesday! I hope you traders are excited for today because there is an extremely high likelihood of markets hitting a new 52-week high today, and this should be an exciting time. I do not want to be overly optimistic, but in reality with the placement we are seeing in the markets, there is a significant amount of strength during the pre-market session at the time of me writing this report. It would genuinely not surprise me if we pushed up today, and it would not surprise me if the markets did come down.

Expect market momentum and volume to continue to slow down over the next couple of days as a result of the holidays, and there to be general difficulties with both momentum and volume. Volatility is already extremely low at this point, but it would not be surprising as volatility continues to crush into the end of the year.

This will be a fun time to slow-ride some solid positions, so I hope you’re allocated accordingly and ready for this confusion!

Good luck trading today, and let’s make some bank!

The updated $SPY daily levels are as follows:
Conversion Line Support: $465.01
Baseline Support: $456.08
Strong Psychological Support: $470
Daily Cloud Support: $431.44

Thoughts & Comments from Yesterday, 12/18/2023

Yesterday was a confusing time for the markets. We were extremely strong but had terrible momentum and volume and lacked opportunity across the board. $SPY did look good, but it was extremely difficult to trade indices for anyone trading due to the lack of overall momentum.

We started the day with $SPY, opening the day extremely nice, trading at $470.95, up over a dollar from the previous close, and starting to move up right after opening. We did have a quick tick down to make the official low of the day trading at $470.81 but watched as the markets remained relatively neutral throughout the entire morning. The markets moved up slightly but ultimately came back down to $471, giving us a quick opportunity to scalp slightly towards the upside or to scalp towards the downside, but with the initial movement being less than $1, it was difficult capitalizing on either direction and realizing any sort of significant gains.

Thankfully, the markets did bounce back up after testing the low of the day going into the lunchtime lull, where the markets quickly moved up, providing us with a quick opportunity to scalp, and markets continued to remain around $472 for the entirety of the lunchtime lull. There was genuinely no momentum in the markets during that lull as we continued to remain stagnant. We did thankfully see some slight bullish momentum as volume came back into the markets after the lull, but the movement up was not significant at all.

Markets during the afternoon were extremely uneventful. There were opportunities to scalp and follow small movements, but unless you were following an actively trending organization, it was not an ideal time to trade at all.

During that time, we did have a slight breakout in the markets where $SPY made the official high of the day, trading at $472.97, but market momentum was not ideal at that time and remained that way until close.

We ended the day with $SPY trading at $471.97, up $2.64 for the day, or up approximately 0.56%, with an intraday bullish movement of +0.21%.

It was a tough day for the markets, but thankfully, there were opportunities to trade and capitalize on quick movements in the markets. As long as you were able to generate some either realized or unrealized gains across the board yesterday, that’s really all that matters. We all wish it were a better day for the markets, but realistically, yesterday really was a wash outside of the slight bullish momentum we saw.

Let’s see a new 52-week high on $SPY today and try to make the most out of this current market momentum!

Thoughts & Comments for Today, 12/19/2023

Today should be another fun day for the overall markets. We are looking strong during the pre-market session but do have some general economic news that will be coming out right at 8:30 AM EST, which may impact general market momentum and sentiment. But with the way that things are setting up at the time of writing this report, I am confident that there is an extremely high likelihood of $SPY making a new 52-week high today.

As I have been saying and warning you all about, tread lightly on these market conditions and practice safe risk management. Do not look to increase your risk a significant amount in these market conditions. If you are trading, look to simply follow the momentum and be extremely cautious and selective if you want to allocate long into the markets. I would say that the majority of these major tech organizations are highly overvalued, despite having an opportunity to move up in the near future, but at the same time, I would not be able to say with confidence for you all to allocate into organizations like $NVDA around this $500 level.

If you do want to allocate long into the markets, I would highly suggest you look into allocating to organizations that are fundamentally solid but are underperforming in the short term. I have found a couple of organizations that have hit my criteria over the previous couple of weeks, and I will be watching out for more as these are great opportunities to get into some solid positions with relatively little downside risk.

One of these organizations at this time that I am allocated to is General Mills ($GIS). The movement has been confusing and choppy over the previous couple of days, and $GIS is currently trading below my average, but with the way that it is setting up at the moment, we have seen a confirmation of a reversal from the bottom, a bullish TK cross over on the daily charts, and we are currently trading above the cloud. This is a strong position that I have confidence in entering right now. There is technical resistance at $66.59 on the daily charts, but realistically, assuming market conditions continue to look favorable, the position should realistically continue to move up, and if $GIS, unfortunately, does not move up, I will average in on the way down, with a hard stop set under $65.

For my personal recommendations for the day, simply just don’t over-trade. I believe there is going to be a lot of confusion and tough momentum to trade, so if you start over-trading and get emotional with your allocations, you will underperform and realize losses as market conditions will not be favorable. Simply follow the momentum if you have the confidence to do so, but just be smart and safe in the process.

For my allocations today, I do not know how much I want to trade. I will look for opportunities to scalp with confidence, but with the confusion that is going on in the markets, I am more comfortable looking at positions and trying to find opportunities to allocate long while simply looking at opportunities to scalp in the short term. I think that realistically, we should be able to see many opportunities to scalp throughout the day, but it is just a matter of if you are able to catch the position with confidence and are able to allocate accordingly. I do not want to trade over, and this is not one of those days that I even want to consider 0-DTE positions due to the lack of momentum in the general markets. Hopefully, markets are favorable for all of us, and we will be able to realize a significant amount of gains, but I understand that market momentum is not going to be favorable for us, mostly leading into the holidays.

Just continue to be smart and safe in these conditions, protect your bottom line, and practice safe risk management.

Let’s see a new 52-week high today and have some fun in the process!

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

HaiKhuu Proprietary Algorithm Report:

Yesterday was an alright day for the algorithm. Nothing sexy happened, but it is okay with the general results of the market momentum. We saw that there was some slight confidence as the long term portfolio was able to match the performance of $SPY on a rough day, but we did see that the base algorithm did underperform slightly. I’m not too concerned with the underperformance, but it is one of those situations where it just is unfortunate. C’est la vie, the rest of last week, and the confidence that was generated highly outweigh the slight underperformance of a single tough day for the markets.

The results of yesterday are as follows:

Baseline:

$SPY: +0.21%

Our Results:

Sector Neutral: +0.3%
Long Term Portfolio: +0.21%
Variable Sector Neutral: +0.14%
Base Algorithm: +0.06%
Variable Market Neutral: +0.06%
Market Neutral: -0.08%

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, $GIS, $RIVN, $X , $ORCL, $TSLA, $NVDA, $AAPL, $BABA

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/ $GIS
Long-Term Auto Sector - $F
Speculative Re-Entry - $DIS / $RIVN

Economic News for 12/19/2023

Housing Starts - 8:30 AM ET
Building Permits - 8:30 AM ET
US Redbook YoY - 8:55 AM ET

Notable Earnings for 12/19/2023

Pre-Market Earnings:

Accenture (ACN)
FuelCell Energy (FCEL)
FactSet Research Systems (FDS)
OrganiGram (OGI)

After-Market Earnings:

FedEx (FDX)
Steelcase (SCS)
Enerpac Tool Group (EPAC)

Wrap up

This should be an interesting day for the markets, with an extremely high chance of hitting a new 52-week high, assuming market conditions allow for it to happen. Tread lightly on these market conditions and make some solid positions. Follow the general momentum and just practice safe risk management. There will be many opportunities to scalp and trade throughout the day, so just be smart, be safe, and have a great time in the process.

Good luck trading today, and let’s see a new 52-week high!

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HaiKhuu Daily Report 12/19/2023