HaiKhuu Daily Report 7/17/2023
Good morning and happy Monday! Hope you traders all have had a phenomenal weekend and are excited for this week in the markets. This week should be an interesting time for the markets with a significant amount of movement that impacts people’s ability to consistently trade. Historically, today (Monday) is a bearish day for the markets, Thursday is a bullish day, and Friday is a bearish day and July Expiration.
This should be a fun time, but it will be difficult to consistently navigate. So make some smart decisions while actively trading, and do what you can to maximize your profit potential at this time. Just make sure to be safe, limit your risk, and take advantage of these market conditions!
Good luck trading this week and let’s make some bank!
Thoughts & Comments from 7/14/2023
Last week was a crazy week for the markets with a significant amount of bullish momentum you could have easily capitalized on. If you have not checked out Louis’ weekly recap report, make sure to check it out!
The $SPY opened up relatively strong, trading at $438.19, and showed a significant amount of continued bullish momentum throughout the entire week. Monday and Tuesday were not exceptionally bullish but had some bullish momentum that positively impacted the markets, the most significant movement was on Tuesday, where $SPY broke above and held $440.
The huge movement we saw last week, came from CPI data coming out and shooting the markets up to consistently make new 52-week highs for the rest of the week. CPI came back lower than expected which lead to continued bullish momentum throughout the rest of the week. Thursday was just strong consistent bullish movements, leading into Friday.
Friday was a tough time for the general markets. It was tough actively trading or deciding which direction to go as it was exceptionally choppy but had enough momentum to fake any trader out. $SPY started the day trading at $450.56, above the $450 support level, and watched as the markets continually chopped around, while making a new 52-week high trading at $451.36. After making this high, we watched as $SPY broke below $450 for the first time for the day, and consistently chop around there until power hour.
During power hour, we watched as the markets continued to move irrationally, causing the markets to slip into close, ending the day trading at $449.28, down $0.28 for the day, or down approximately 0.06% from close on Thursday, with an intraday bearish movement of -0.27%.
Friday was a tough time that made it extremely difficult for the large majority of traders to realize any sort of gains, but the overall week was a phenomenal time providing us with roughly a 2.5% return over the course of the entire week.
It was a beautiful week for the markets with many opportunities to actively trade and realize some gains with some solid momentum, so hopefully you all enjoyed the week and realized some gains in the process of everything! Great job trading last week and let’s kill it this week!
Thoughts & Comments for Today, 7/17/2023
Today should be another interesting time for the general markets. The one thing I want to warn you all about is the fact that we are back below the previous psychological support level, which will result in slight weakness in market conditions that are exceptionally strong. I do not believe that today will be an extremely bullish day, but I do expect to see choppy market conditions that are more bearish. There will be opportunities to actively trade at this time, but they will be far and few between. If you see an opportunity to enter into a short today, I believe trading right around the $450 resistance level of $SPY will provide you with a phenomenal opportunity.
This week should be a fun week for the markets, but just be smart and don’t do anything that increases your risk heavily as I am expecting a lot of people to have an extremely difficult time in the markets.
A couple of organizations you should be on the lookout for are $TSLA, $AAPL, and $NVDA.
$AAPL is continuing to look strong in these markets, so as long as $AAPL looks strong, you can continually assume market conditions are going to be optimal and allow people the opportunity to continue to be confident in these market conditions. $TSLA is an interesting play to watch but should continue to provide us with some solid momentum to actively trade and capitalize on in these market conditions, and finally, $NVDA is continuing to look extremely strong in these conditions. As long as $NVDA is looking good, I would recommend you be hesitant on being bearish on the markets. Use $NVDA as a leading indicator for when the market starts to reverse, as there is a significant amount of confidence in the current markets, and a lot of that is coming directly from the strength of $NVDA.
Just look to continually make smart moves, capitalize on this momentum in the markets, and look to limit your general downside risk while we continually move up in these market conditions.
I know I’ve been talking heavily about $MAT recently, but this is an opportunity to grab more $MAT to hold over the next couple of months, we have daily support at both $20.87 and $19.84, so if you are looking for a possible entry, this is not a bad time to start your position, and continually add on the downside.
My personal positions I am looking to enter for the day are to scalp to the upside when given an opportunity to do so, and looking for an opportunity to so, and to actively daytrade and hold a short position in the case market conditions look worst and start to come down in real time.
If you want to watch any of my allocations, they will be posted live in the HaiKhuu Discord.
HaiKhuu Proprietary Algorithm Report:
Last week was an interesting time attempting to trade intraday. Lots of movement happened after hours and during the pre-market session, so the majority of the gains were not accounted for during the intraday sessions. Our systems underperformed in comparison to the overall markets on an intraday basis but were able to perform in line with each other in terms of results. The base algorithm slightly outperformed the long-term portfolio and as a result, beat out the fundamental analysis in the portfolio it was built on. I am happy with these results and am excited to see how everything goes over the next week with these systems.
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of last week are as followed:
Baseline:
$SPY: +0.82%
Our Results:
Base Algo: +0.49%
Long Term Portfolio: +0.45%
Variable Market Neutral: +0.18%
Market Neutral: -0.02%
Variable Sector Neutral: -0.22%
Sector Neutral: -0.49%
With market conditions being at this interesting spot, please remain cautious prior to entering into any of these allocations for the day. I would recommend you look into actively trading lower beta stocks if you are looking to allocate into any of these positions today. I would rather you take on less risk and be safer with any of these positions than increase your risk with a high likelihood for the markets to come down in a short period of time. Just make sure to practice safe risk management in the process of everything and have some fun in the process. This should be an interesting time in the markets, so limit that downside risk and set stops in guaranteed profits.
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 7/17/2023
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 , $RIVN, $MAT , $DIS, $MSFT , $NVDA, $TSLA, $AAPL
Position Opportunities:
Ride the momentum in the markets
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 7/17/2023
Empire State Manufacturing - 8:30 AM ET
Notable Earnings for 7/17/2023
Pre-Market Earnings:
Guaranty Bancshares (GNTY)
After-Market Earnings:
CrossFirst Bankshares (CFB)
Equity LifeStyle Properties (ELS)
FB Financial Corp. (FBK)
Home Bancorp (HBCP)
Wrap up
Overall, this should be an interesting time for the general markets. Please be safe and simply follow the momentum in the markets, but be cautious of the downside risk that is in the markets right now. Be smart, be safe, and do anything and everything you can to capitalize on the opportunities available in these market conditions.
Good luck trading, and let’s have some fun this week!