HaiKhuu Daily Report - 12/23/2024
Good morning, and happy Monday!!! I hope you all have had a wonderful, stress-free weekend leading into the holiday season! This week will be an interesting time as this technically is the shortest week of the trading year. Markets are shut for a half day on Tuesday and completely CLOSED on Wednesday! This hopefully will be a great week with a slow, bullish trend, but that is just part of the beauty of the markets. Anything can happen. But make the most of these market conditions, and just do what you can to have fun this week!
I just want to say this on behalf of HaiKhuu, the team, and myself. I hope you all have a wonderful weekend and are excited about 2025. This has been an incredible year with a lot of things happening. So we will now do what we can to make the most out of this year and capitalize next year!
Good luck trading today, and let’s have a BEAUTIFUL breakout!
The updated $SPY daily levels are as follows:
Conversion Line Resistance: $594.67
Baseline Resistance: $594.99
Psychological Resistance: $600
Daily Cloud Support: $584.03
Thoughts & Comments from Last Week
Last week was a rather disgusting week for the markets. We had record-breaking bearish momentum and the largest single-day bearish movement we’ve seen since the pandemic in 2020. Conditions were harsh, but opportunities were consistently presented to us to make the most of it and have a great time. Hopefully, you listened to our warnings and made the most out of last week's conditions. Conditions were wild, but we all had a wonderful time!
So, we started the week with $SPY, opening the week relatively strong on Monday, trading at $606.07, and honestly looking relatively strong. Traders were optimistic, and we watched as $SPY continued to look strong. There was a slight weakness as $SPY did break the daily support below. However, at the same time, conditions were still favorable, and we were able to watch as $SPY remained within a consolidation leading into Wednesday.
Wednesday was a wild day for the markets. Conditions were looking great, leading into FOMC and Jerome Powell speaking, but man on man, we were not ready for what was about to occur. At the time, markets looked alright, moving up as people were excited about FOMC. Rates were about to come down, and markets were about to rally. We watched as the markets dropped slightly after the announcement of a 25 bps decrease but then watched as the markets continually dove as a result of the ongoing conditions. Once Jerome Powell started to speak, he announced, stating that we were expecting fewer rate cuts in 2025 and that the Fed has zero intentions of purchasing BTC, resulting in both the equities and crypto markets to dive. It was rather unfortunate, but it did give us what I believe was an early Christmas gift. It sucked watching as the markets dove in the process, but thankfully opportunities were consistently presented to us to make the most of those conditions. We watched as $SPY dropped $20, and broke all levels of support on the daily, and scared traders heavily in the process.
Thursday was rather uneventful as the bearish trend continued throughout Thursday, making a relative low in the process and worsening leading into Friday morning at open. At open on Friday, we could watch as the markets did come down during the pre-market session, opening the day officially at $581.77. Still, in my opinion, and as stated in the discord, that was an amazing buy-the-dip opportunity. On Friday, we watched as the markets continued to rally beautifully and prove us with an insane opportunity to buy the dip before watching as the markets recovered a large portion of the losses that were incurred. $SPY did drop, going on to make the official low of the day trading at $580.91 before moving up throughout the entire day, making the high of the day trading at $595.75, before dropping back off and closing at $591.15.
Overall, we ended the week with $SPY down $15, or down 2.5%, while BTC dropped roughly 9% during the same timeframe. It was a difficult time to actively trade and attempt to make the most out of these conditions, but at the same time, we could have capitalized on both directions, either shorting the top or buying the dip. Hopefully, you all survived last week and are ready for a fun time this week!
S&P 500 Heat Map - Last Week
Thoughts & Comments for Today - 12/23/2024
Today should be another fun time for the overall markets. With the way that everything is sitting right now, the traders who unfortunately got wiped out last week are upset, but anyone who bought the dip and is attempting to make the most out of these conditions should be excited and optimistic. I know that I personally am optimistic to see what happens leading into the end of the year, mostly hoping that a beautiful end of the year rally continues to happen as $SPY reclaims $600. This is obviously very speculative and I would not blindly allocate as a result of my personal sentiment, but just know that I have personally allocated into the markets in speculation of everything that is going on at this time.
One thing that I do want to warn you all about is the fact that the rest of this year is going to be relatively slower for the markets. This does not mean we won’t see any significant movements in the markets, but what this means is that I am expecting to see some general weakness in the markets coming from lower volume and stability as traders are starting to step away from their computers going into the end of the year. Again, this is not a signal to be bearish and is actually the complete opposite, and more so just a warning that volume and momentum are going to be slower leading into the end of the year.
One thing to remember in these conditions, mostly with what I just said, is understanding the fact that when the markets experience lower volume, conditionally, it is a little rougher as a result of the lack of volume, but when the markets have naturally lower volume, we typically see a weak bullish trend form, and honestly, with the placement of the markets at this point, it would make a lot of sense. We dropped hard as a result of FOMC, and there are going to be many opportunities to trade now as a result of the ongoing conditions. I would not do anything that is overly aggressive, but at the same time, take advantage of the slow momentum, hold some strong positions at a discount, and just do what you can to make the most out of these conditions! Many traders should be excited and have some fun, so just enjoy the opportunities that are being presented to us, and have an amazing time!
For my allocations today, I intend to simply hold the majority of my positions and do what I can to ride the general market momentum. Recently, I adjusted my portfolio again and allocated $INTC as a hold position. My current average is low 19s, and I do not anticipate selling this position any time soon. This will be a longer hold position with relative strength and opportunity. Tread lightly and have some fun today!
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, $INTC, BTC, $GRYP, $AIFF, $DG, $BA, $NVDA, $TSLA, $RIVN
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $INTC / $DG / $BA / $RIVN
Economic News for 12/23/2024 (ET):
Consumer Confidence - 10:00 AM
Notable Earnings for 12/23/2024
Pre-Market Earnings:
No Earnings Scheduled
After-Market Earnings:
No Earnings Scheduled
Wrap up
Hopefully, today will fly by, and we will have strong bullish momentum the entire time. Opportunities will be amongst us to trade, but at the same time, I am not expecting to see any significant movement that we can capitalize on with confidence. Watch out for slow bullish momentum, and then from there, watch as we continue to rally into the end of the year!!!
Good luck trading, and let’s see where 2024 ends up!