HaiKhuu Daily Report 7/26/2023
Good morning and happy Wednesday! This is going to be a crazy day for the markets. Hope you all are ready, because this is gonna be a tough, yet extremely profitable day for the markets.
At the time of writing this report, $SPY is down ever so slightly, despite $MSFT coming down 3.5% roughly on their earnings. $GOOGL did well and is trading at a 52-week high, and is looking exceptionally strong, while $V did not move.
We have both the FOMC’s decision on the interest rate today at 2 PM EST and have Jerome Powell speaking at 2:30 PM EST, so prepare for a lot of sentiment in the markets impacting people’s ability to trade. There will be some amazing trading opportunities, and there will be many moments when lots of traders will have an extremely difficult time.
Just make some smart decisions today, and prepare for what is going to be a crazy day with lots of emotions, trades, and volatility.
Good luck trading today and let’s make some bank!
Thoughts & Comments from 7/25/2023
Yesterday was a wild day for the markets that provided us with many amazing opportunities to trade. We started the day off being relatively neutral, with the markets coming down from open, and us opening slightly red from the previous close, at $453.87. The movement down wasn’t anything of any major concern and was literally the official low of the day. $SPY continuously moved up from open, and showed relative strength throughout the entire day, even at points of low volume and relative weakness.
Markets continued to pick up through the lunchtime lull, and once volume started to come back into the markets, we watched as we continued to move up throughout the day. Going into power hour, we did watch as $SPY push up for the final time for the day, making the official high of the day, and a new 52-week high. The official high was $456.73 and looked strong on the way up.
As the momentum started to slow down, we did watch as the markets come down for the rest of the day into the close, with $SPY selling off about a point from the top, which is unfortunate, but we still remained nicely green both intraday and for the overall day which was a win.
We ended the day with $SPY trading at $455.44, up $1.24 for the day, or approximately 0.27%, with an intraday bullish movement of +0.33%. It was a great day for the general markets that provided us with many opportunities to actively trade and realize some gains in the process of everything. I hope you all had some fun trading the momentum in the markets yesterday and did everything that you could to maximize your profits. It was an easy day to trade and follow the momentum in the markets, and an even better day to realize some gains.
Let’s see what today has in store for the general markets and see what happens with Jerome Powell speaking.
Thoughts & Comments for Today, 7/26/2023
Today as I said before, will be a crazy day for the general markets as a result of the significant amount of earnings, news, and Jerome Powell speaking today. I am personally expecting to see a significant amount of chop, volatility, and momentum in the markets. There will be many trade opportunities, but it will be difficult to spot them in real-time. Today is not a day to be greedy, and you should realize gains when given an opportunity to do so.
A couple of support levels that you should consider right now on $SPY, are $452.61 and $443.96. The daily conversion line support is currently at $452.61, which will be the first line of major support, in the case we break below that, we do have the psychological level of $450, but realistically, if the markets start selling off, then that $450 level will break with relative ease, and the second line of major support is $443.96 which is the daily baseline support. If we break below that, that will bring a lot of fear back into the markets and be a confirmation of a reversal from the top. We will obviously chop around both of these levels and it may take some time before we break below with confidence, but if/when this happens, it will not be a good time for anyone holding positions, and the euphoria of the markets will be over in the short term, providing us with many opportunities to actively allocate into the markets with confidence, while there is fear in the markets.
Just make a mental note though, tomorrow historically is a bearish day for the general markets, I would not put too much weight on the historical data for tomorrow though, just note the movement in the markets today, to see what the sentiment for tomorrow is. If there is a lot of strength going into the close, I would expect that tomorrow be a good day, but the same goes for the inverse. If people do not like what is being said by either Jerome Powell or the FOMC, expect markets to fall and tomorrow to be a rough day.
Personally, I do not know what positions I will ultimately get into today, but I do have the anticipation that the majority of my positions will be quick day trades and scalps while holding the same allocations I have been holding over the previous couple of weeks. There are going to be many opportunities to trade, and I will be doing my best to try and find great opportunities and be fluid with my direction continuously throughout the day. I mostly am interested in continually scalping the momentum while Jerome Powell is speaking, assuming that I will be bullish going into him speaking, and bearish once we see a shift in general momentum. I will have tight stops and will be willing to hold positions that are continually printing while adjusting those stops accordingly to realize more gains in the process.
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 alright day for the general systems that we have created. Our fundamental analysis underperformed slightly, but all of our systems performed pretty much in line with $SPY, so no major concerns are raised with a minor underperformance. C’est la vie, today should be a fun day for our systems.
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as followed:
Baseline:
$SPY: +0.33%
Our Results:
Variable Market Neutral: +0.32%
Base Algorithm: +0.32%
Long-Term Portfolio: +0.25%
Market Neutral: +0.14%
Variable Sector Neutral: -0.02%
Sector Neutral: -0.14%
With market conditions being extremely interesting today, I would advise caution on holding these positions past 2 PM EST. The beginning of the day should provide many opportunities to trade, but once conditions start to shift around that time, those are unaccounted for when taking this analyzing these positions. As always, I advise you to be cautious and safe when taking on any of these allocations. Practice safe risk management and limit your downside risk as much as possible. Lots of people will make a significant amount of gains today, so utilize this to maximize your potential for profit. Set stops in guaranteed profit and make some bank trading with these positions today!
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 7/26/2023
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 , $GOOGL, $MSFT , $MAT , $AAPL , $TSLA , $RIVN, $NVDA
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 7/26/2023
FOMC decision on interest-rate policy - 2:00 PM ET
Fed Chairman Powell's press conference - 2:30 PM ET
Notable Earnings for 7/26/2023
Pre-Market Earnings:
AT&T Corp (T)
Boeing (BA)
Coca-Cola (KO)
Tilray (TLRY)
Thermo-Fisher (TMO)
Automatic Data Processing (ADP)
General Dynamics (GD)
After-Market Earnings:
Meta Platforms (META)
Chipotle Mexican Grill (CMG)
PTC Inc (PTC)
ServiceNow (NOW)
Quantumscape (QS)
eBay (EBAY)
Mattel (MAT)
United Rentals (URI)
O'Reilly Automotive (ORLY)
Wrap up
Overall, this is going to be a wild day for the markets, so make some smart plays, limit your downside risk potential, and do what you can to minimize your risk when possible. Look to follow the momentum in the markets and realize some gains while trading today. Prepare for the FOMC statement, and be fluid while trading when Jerome Powell is speaking.
Good luck trading, and let’s have some fun!