HaiKhuu Daily Report - 12/30/2024
Good morning, and happy Monday!!! I hope you all had a wonderful weekend and are ready to round out 2024! This has been a wonderful year, despite market conditions being relatively tougher the previous couple of weeks, but regardless. Opportunities have been presented to us, and man have they been a lot of fun.
Markets are down at the time of writing this report, and situationally we are not looking the best, but just remember that despite markets being down, does not mean there will not be opportunities to capitalize on it. Take advantage of the available opportunities, and realize some gains!
Also; side note. Jimmy Carter, the 39th president has unfortunately passed away. The markets will be CLOSED January 9th for the National Day of Mourning. Keep that on your radar for the future.
Let’s have some fun today and end this year strong!
The updated $SPY daily levels are as follows:
Conversion Line Support: $594.54
Baseline Support: $594.99
Psychological Resistance: $600
Daily Cloud Support: $588.02
Thoughts & Comments from Last Week
Last week was a great week for the overall markets. Opportunities were presented to us to realize some significant gains, but many individuals unfortunately had a tough time and realized some losses in the process. I will say that market conditions were favorable for those who did attempt to trade, but just because there were favorable positions, does not mean that everyone printed.
So, we started the week with $SPY honestly looking pretty strong, opening the week at $590.93. Conditions at the bottom were rough as we had to recover from the FOMC sell off, but we watched as the markets rallied beautifully from the bottom, and watched as $SPY ripped through Monday, into Tuesday, into Thursday. (Wednesday was Christmas)
Conditions were beautiful as $SPY went from trading at the $590 range, to ripping up to $600 literally within the span of a couple of days, breaking and holding that $600 support for a while before the markets started to slow down again on Friday.
Friday on the otherhand, was a tough day with weakness across the board. We watched as $SPY opened up slightly red, opening at $597.50, and watched as we slowly trended down, going on to make the official low of the day trading at $590.78 before recovering back to $595.01 before close, where we ended Friday, down $6.33, but ended the week up roughly $4.
I will say that last week was a great week to trade, but Friday was definitely a kill shot for many traders. Some people took a great shot and were rewarded for it, and others got shot. Regardless though, life moves on and so do the markets, so let’s see what the rest of 2024 has in store for us!
S&P 500 Heat Map - Last Week
Thoughts & Comments for Today - 12/30/2024
Today is going to be another interesting day for the books. With the way that everything sits right now, traders are going to be confused, but excited about the opporutntiies that are presented to us. As I said before, markets are down at the time of writing this report, but conditions are still great overall. Please, if you are attempting to trade today, please continue to tread lightly and practice safe risk management. I believe there is going to be no reason that you should attempt to take on a significant amount of risk, mostly right before the end of the year, but at the same time, you should do what you can to take advantage of these conditions. Traders should have a great time, but now it is just a matter of making the most out of the final days this year.
One play that I think is going to be an amazing allocation is Boeing. Over the weekend, I am sure you all saw the news about the plane in South Korea, and that has resulted in $BA dropping heavily. This selling is 100% justified, but at the same time, is irrational. People do not know the cause of the crash yet, but that was one of the worst aviation disaster in South Korea’s history. There is speculation that it was a hydraulic failure, but at the same time, that is just speculation as a result of the flaps and landing gear not dropping.
But, with that said, I think that this is going to be a great opportunity to trade $BA. In the short term, I would advise you all to stay away from $BA unless you are attempting to either short the organization, or take on a significant amount of risk in the process, but wait until we find out the causation of the crash, and support on a larger timeframe for $BA. Once we have found out the causation for the crash, and assuming the fault was not as a result of $BA, but either the airline or the maintenance crew, then and only then should you buy the dip on $BA, and ride the strong bullish momentum afterward. That is just a play you should consider during these market conditions, and is going to be in my opinion a great opportunity to buy an amazing organization at a discount. $150-160 range is not a bad place to buy shares of the organization, and essentially hold indefinitely.
Just continue to be smart going into the end of the year. Make sure to practice safe risk management, and just don’t do anything that would be considered overly risky leading into the end of the year. There is going to be significantly lower volume making trading inconsistent and difficult to predict with accuracy and confidence.
For my allocations today, I do intend on being relatively more passive in the markets into the end of the year. I do have a couple of meetings today so I will be in and out throughout the rest of today as well as this week, but will be back 100% next week and will be excited to actively trade and scalp with you all again! Thank you all for understanding!
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, $BA, $INTC, BTC, $GRYP, $AIFF, $TSLA, $RIVN, $NVDA
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $INTC / $BA / $DG / $RIVN
Economic News for 12/30/2024 (ET):
Chicago Business Barometer (PMI) - 9:45 AM
Pending Home Sales - 10:00 AM
Notable Earnings for 12/30/2024
Pre-Market Earnings:
No Earnings Scheduled
After-Market Earnings:
No Earnings Scheduled
Wrap up
Hopefully, market conditions today will be quick and we will all be able to realize a significant amount of gains with relative ease. I know these conditions are not 100% optimal for us at the moment, but the least we can do is make the most out of these conditions. So let’s have some fun, realize some gains, and end 2024 strong!
Good luck trading, and let’s make the most out of today!