HaiKhuu Daily Report 6/28/2023
Good morning and happy Wednesday! Can you believe it is already humpday? Hope you all are doing amazing and are hyped for the markets today. Last night, we started to get headlines in regards to a possible banning of US-made chips being sent over to China, more specifically AI-Based chips. This tension has resulted in $NVDA and $AMD dropping heavily, and at the time of writing this report, were down approximately 3%~.
Today is going to be an interesting day as there are a lot of opportunities for the markets to move up and break out, but at the same time, there is an even greater chance of the markets coming down. We have Jerome Powell speaking right at open, and a lot of external news that will impact the performance of the markets.
$SPY’s daily resistance level is currently at $437.54, if we are able to break above that level and hold until close, that is a bullish sign for the markets, but breaking that resistance will be difficult. If we move up accordingly, expect to see a lot of chop at that level specifically, as it will result in a lot of people taking profit and trading around that level.
In the case we reject, just remember that daily support on $SPY is $426.89. If $NVDA breaks below $400 and sustains that, this could be the possible end of this run.
Continue to follow the momentum in the markets though as there should be a lot of movement in the markets today.
Good luck trading today everyone and let’s make some bank!
Thoughts & Comments from 6/27/2023
Yesterday was an absolutely beautiful day for the markets. I hope you all read the report yesterday and allocated accordingly because it was a phenomenal bullish day for the markets. $SPY started the day off trading at $432.32 and continually moved up the entire day. It was a slow, but beautiful grind-up. We made an official low of the day at $431.90, down an astonishing $0.42 from open and causing a significant amount of panic in the markets (sarcasm) before starting the insane intraday push.
We continued to move up through the lunchtime lull, and as people came back from lunch, we watched as the momentum pick up and watch a significant amount of buying as $SPY started to come up to daily resistance.
In the final two hours of the day, the markets did not move that much, as most of the momentum has slowed down, but we were still looking extremely strong. We made an official high of the day with $SPY trading at $436.81, and ended the day with $SPY trading at $436.17, up $4.73 for the day, or 1.10%, with an intraday bullish movement of 0.88%
It was a beautiful day for the markets that provided us all with a significant amount of opportunities to actively trade and realize a significant amount of gains in the process of everything. I hope you all had fun and were able to realize some phenomenal gains in the process of everything yesterday!
Thoughts & Comments for Today, 6/28/2023
Today should be a crazy day with a significant amount of movement and chop in the markets. Please be extremely careful as there is a great chance we move up, but there’s an even larger chance that we come down with general movement in the markets. We have Jerome Powell speaking right at open and we are seeing a significant amount of movement during the pre-market session. Organizations like $NVDA have recovered approximately 1% from the bottom, but are still down over 3%. As I have said before, if / when $NVDA breaks below $400, that will be the first sign of large tech showing any sort of weakness. This amongst other things can be the catalyst to why the markets start coming down. Volatility is still extremely low meaning there is a significant amount of confidence still in the markets, but as you all know, all it takes is literally a single day of fear to cause a significant amount of ongoing turbulence.
We are back in extreme greed on the fear and greed index, showing that as a result of yesterday, there is more confidence in the markets, but take that with a grain of salt, mostly with everything else that is going on in the current market right now.
As I have said before, the two levels you want to keep in mind for $SPY right now are $437.54, as that is the daily conversion line resistance and $426.89 which is the daily baseline support. If we break above and hold $437.54, we are going to see a lot of bullish confidence come into the markets, and in the case we see $SPY break below $426.89, it is going to bring a significant amount of bearish weakness and fear back in the markets.
Ideally, for everyone’s sake, I want to see the markets break this resistance level and continue to move up, but realistically I would say the likelihood of that happening are about a 50/50 split. In the case we move up, I am expecting to see a significant amount of chop at that level, but it will be difficult to sustain that level mostly with weakness starting to show in organizations like $NVDA.
I am going to be continually watching out for opportunities to actively scalp throughout the day today as there should be a significant amount of momentum and opportunity to trade with relative ease. Please just continue to tread lightly on these market conditions and practice safe risk management in the process of everything. People should have an easy time trading today assuming they are just following the momentum in the markets.
If you are looking for an interesting risky play to trade today, one organization I will be looking into actively scalping and trading is $TSLA. At this level, it is providing us with a solid opportunity to trade, assuming that market conditions are optimal. If you decide to get into these day trades today, look to set stops to limit your downside risk and look to increase that stop accordingly to decrease all risk and exposure in the general markets.
This should be an extremely fun time to trade today, so make the most out of the opportunities available to us, but please just be safe in the process of everything!
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 absolutely amazing day for the algorithm and the new portfolio we’ve built. Both systems were able to outperform $SPY by a sizable margin, and the technical analysis with the algo was able to outperform the fundamental analysis of the long-term portfolio. I am very happy to present these results to you all today and hope you were able to realize a significant amount of gains with our new system yesterday!
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as followed:
Baseline:
$SPY: +0.88%
Our Results:
Base Algorithm: +1.72%
Long Term Portfolio: +1.39%
Variable Market Neutral: +1.06%
Variable Sector Neutral: +0.97%
Market Neutral: +0.79%
Sector Neutral: +0.74%
With market conditions being at an interesting point, make sure to do your own due diligence prior to entering into any of these positions. Assuming market conditions are optimal again, we can expect to see a significant amount of bullish momentum that will positively impact the performance of systems, but as always, assuming that the market conditions are not optimal, make sure to set stops to limit your downside risk and take profit when given an opportunity to do so!
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 6/28/2023
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 , $VIX , $NVDA, $TSLA , $AAPL , $DIS, $RIVN, $BABA
Position Opportunities:
Ride the momentum in the markets
Hedge the positions you want to hold
Set stops in guaranteed profit for any position you are in profit in
Cut all positions you are not comfortable holding
Exit positions you are comfortable taking profit on
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN
Long-Term Riskier EV Play - $RIVN
Economic News for 6/28/2023
Advanced U.S. trade balance in goods - 8:30 AM ET
Advanced retail inventories - 8:30 AM ET
Advanced wholesale inventories - 8:30 AM ET
Fed Chair Powell speaks on a panel - 9:30 AM ET
Notable Earnings for 6/28/2023
Pre-Market Earnings:
General Mills, Inc. (GIS)
Unifirst Corporation (UNF)
After-Market Earnings:
Micron Technology, Inc. (MU)
Concentrix Corporation (CNXC)
Worthington Industries, Inc. (WOR)
BlackBerry Limited (BB)
Wrap up
Please be safe today, it will be a toss-up on how the markets will perform and we have Jerome Powell speaking at market open, so this should be an extremely interesting time with all of the factors we have to take into account with the markets. Be smart with your positions, do not take on a significant amount of risk, and follow the momentum in the markets.
Good luck trading, and let’s make the most out of today!