HaiKhuu Daily Report 6/30/2023
Good morning and happy Friday! Hope you all are hyped for some bullish momentum today because the markets are looking amazing at the moment. $SPY is trading above daily resistance levels, and is currently trading at $440.08 at the time of writing this report. The current daily conversion line on $SPY has dropped and is at $435.72. As long we are able to sustain above that level and retain this $440 level, we are at a point of confidence in the general markets. We are still at a point of extreme greed in the markets, so I would be cautious when attempting to allocate at these relative highs, but I would attempt to continually capitalize on the opportunities available to ride this momentum in the markets.
Obviously, please practice safe risk management but know that we are back above the previous resistance and will have some fun leading into the next couple of days for the market.
Just as a reminder, Monday, July 3rd, is a half day for the markets, the stock market closes at 1 PM EST, and the bond market closes at 2 PM EST, while we have Tuesday, the 4th of July off!
A major point that I would like to bring up before open, is that $AAPL is the first and only company that has broken a $3T market cap. This is an amazing feat and should be recognized by everyone.
Hope you all are hyped today and ready to make some bank. Good luck trading everyone and have an amazing weekend!
Thoughts & Comments from 6/29/2023
Yesterday was an amazing day for the general markets providing us with some beautiful bullish momentum we could have easily capitalized on. There was a significant amount of chop, but despite this, we had many great trading opportunities.
$SPY started the day trading at $435.92, down slightly from the previous close of $436.39. Markets looked relatively neutral at open but showed enough strength to provide us with confidence to trade up to the daily resistance level.
We chopped around for the first hour of the day before moving up accordingly to the daily resistance level and actively testing it during the lunchtime lull. As people came back from lunch though, we did watch as the markets dipped extremely quickly around 2 pm EST, where we made a relative low trading right above $436.
In the final two hours of the day, we continually moved up with confidence into close, where we pushed back up and tested the daily resistance level and chopped there until close. At close, the markets moved up within the final five minutes of the day breaking above that resistance level and bringing continued confidence into the equity markets. We made a high of the day into close trading at $438.28 and closed the day officially trading at $438.11, up $1.72 for the day, or approximately 0.4%, with an intraday bullish movement of +0.5%.
It was an amazing day for the markets which provided us an opportunity to break major resistance levels and bring back some bullish confidence back into the equity markets. I hope you all are hyped for this momentum in the markets and will have the ability to realize some gains as a result of this!
Thoughts & Comments for Today, 6/30/2023
Today should be a fun day for the markets with a significant amount of confidence in the equity markets. We are above daily resistance, so I would highly recommend you look to actively capitalize on the opportunities in the markets and look to take advantage of this momentum.
Market conditions are going to be primed for active trading today, and people who take advantage of this momentum in the markets will have a phenomenal time. The one thing I want to warn you all about is by allocating too heavily long at this point into overpriced equities. If you are looking to enter into a long position, I would advise you all to stay away from high-risk tech plays as they are all highly overvalued at this point.
If you are looking to trade though, those higher-risk tech plays will provide you with the best trading opportunity possible. A “safer, risky” play that you can look into is to play $AAPL today, they have hit a new all-time high, and are officially a THREE TRILLION dollar company. I would not advise anyone to actively attempt to buy Apple here for a general allocation, but if you are only looking to actively day trade or scalp trade it with no intentions of holding the position. That will be a great position to capitalize on. There is going to be a significant amount of momentum and people attempting to FOMO into the position as headlines circulate about it being $3T.
Other plays that should do well today are $AMZN, $TSLA, and $MSFT.
Please just continue to be safe in these market conditions though, with the way the markets are going. There is a significant amount of confidence we can all capitalize on in the short term, but I realistically do not believe that this will last as it has happened too quickly without any solid justification of this move. The “AI-Hype” has positively impacted the Semiconductors, which then positively impacted mega caps like $GOOGL/$MSFT, which impacted other mega-caps like $AAPL and $AMZN. This needs to all come down with time, but for now, continue capitalizing on the opportunities that are available to us in these market conditions.
One thing I do want to warn you about is to watch out for this resistance here at $440 on $SPY. This is more of a psychological resistance level than any technical level. I would not put much significance on this level in the short term, but I am expecting to see a lot of chop around this level until there is a confirmation of a breakout, which could happen in the pre-market session as a result of the economic news that is coming out, but assuming that this news does not positively impact the markets in the way where we are significantly above this level by open, expect to see some chop at this level.
This should be a fun day for the markets, practice risk management, please just be safe, and limit your downside risk potential. Take advantage of the momentum, but set stops in place.
Realize some gains today and let’s have some fun!
If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.
HaiKhuu Proprietary Algorithm Report:
Yesterday was a great day for our systems despite the general chop in the equity markets. Our long-term portfolio was in line with $SPY and provided a slightly better return, while our algorithms underperformed slightly. Nothing of any major concern though, and this should be a solid week for the algo’s performance. I am excited to see what is the weekly results and hope that you all are too!
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as followed:
Baseline:
$SPY: +0.5%
Our Results:
Long Term Portfolio: +0.52%
Base Algorithm: +0.28%
Variable Market Neutral: +0.09%
Variable Sector Neutral: +0.05%
Market Neutral: -0.04%
Sector Neutral: -0.21%
With market conditions being optimal at this point, I would advise you to look into all of these plays and look for opportunities to actively trade. As always, please make sure to practice safe risk management as even though we are at a point of confidence in the markets, it does not mean you can take some unnecessarily large risks. Be smart, make good plays and realize some gains!
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 6/30/2023
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 6/30/2023
Personal income (nominal) - 8:30 AM ET
Personal spending (nominal) - 8:30 AM ET
PCE index - 8:30 AM ET
Core PCE index - 8:30 AM ET
PCE (year-over-year) - 8:30 AM ET
Core PCE (year-over-year) - 8:30 AM ET
Chicago Business Barometer - 9:45 AM ET
Consumer sentiment (final) - 10 AM ET
Notable Earnings for 6/30/2023
Pre-Market Earnings:
Constellation Brands Inc (STZ)
Wrap up
Overall look to take advantage of the momentum in the markets as there is a significant amount of confidence. Be smart and safe though, if we see a shift in momentum, be fluid but capitalize on these market conditions. Watch out for a rejection at $440 and hope that we continue moving up with confidence! Realize some gains today and have some fun!
Good luck trading, and I hope you all have an amazing weekend!