HaiKhuu Daily Report 8/15/2023
Good morning and happy Tuesday! Hope you traders all are doing well as this is going to be an extremely interesting time for the markets that will provide us with many great opportunities to trade. $SPY is down at the time of writing this report, and the bearish TK cross under on the $SPY daily is getting stronger. We are at the lower end of Greed on the Fear and Greed index, showing us that there is slipping confidence in the markets at the moment, and it is signaling that there is more possible downside to come.
Continue to tread lightly on these market conditions and do what you can to remain consistent at this time. Trading is going to be extremely difficult and risk will be increased when attempting to trade right now. The overall markets still have strength, but this has been a continued sign of relative weakness. Watch out for breakdowns in major organizations like $TSLA, $NVDA, and $AAPL as a signal that bearish momentum is in the air, and make sure you are doing what you can to stay afloat in these market conditions. People are going to continue to have a tough time, but if you are able to take advantage of the bearish momentum and capitalize on the aftermath, you will be set.
So just be smart, practice safe risk management, and limit your downside risk as much as possible, to make sure you are able to survive and trade for another day.
Good luck trading today and let’s see what today has in store for us!
The updated $SPY daily levels are as followed:
Conversion Line Resistance: $448.12
Base Line Resistance: $449.44
Weak Psychological Resistance: $450
Strong Psychological Support: $440
Thoughts & Comments from 8/14/2023
Yesterday was an interesting time for the general markets that provided us with many opportunities to capitalize on the bullish momentum in the markets. There is not much to say, but just know that it was a great way to start the week.
We started the day off relatively weak, with $SPY opening at $444.64, down slightly from the previous close on Friday at $445.65. There was some solid bullish momentum right from the rip as we moved up to $445, and back down to make the official low of the day trading at $444.39.
After hitting the bottom, we quickly moved up, to make the first high of the day trading right around $447, and hovered in that area for a large majority of the morning, chopping around, but not being able to break above that previous high. There was not much movement around lunch as the markets continued to chop, and the rest of the day was unfortunately not much better. $SPY moved up in the afternoon, only to have extremely slow momentum throughout the day and continue to hover right below $447.
Then power hour happened. We saw a substantial amount of bullish momentum during power hour which provided us with a beautiful bullish movement into the market close. The movement up was nothing substantial, but it was a beautiful way to end the day with relative strength. $SPY ended the day making the official high of the day trading at $448.11, up $2.46 from the previous close, or up approximately 0.55%, with an intraday bullish movement of +0.77%. It was a great day to attempt to capitalize on the bullish momentum in the markets, and an even better day to trade.
I hope you all were able to capitalize on the opportunities that were presented to you yesterday and realized some gains in the process of everything!
Thoughts & Comments for Today, 8/15/2023
Today is looking like it is going to be a tough time for the general markets. As I said before, there is a significant amount of bearish momentum in the markets at the moment, but we are still looking extraordinarily strong overall. Continue to follow the momentum in the markets and do what you can to maximize your profit potential. I would not recommend attempting to fight any trends right now in the current market conditions, as anyone who does attempt to fight the trend, ultimately will have an unfortunate time.
There will be many trading opportunities in the short term, but please be cautious and careful as I am expecting to see a significant amount of chop. We’ve seen elevated movement in the markets over the previous two weeks, but have not seen a substantial increase in volatility in the markets, so it is just a matter of time until volatility picks up and we see a substantial downside as a result of that. Please make a mental note now that this is the case, unless this has all been one massive bear trap and will ultimately pick back up as we hit new 52-week highs in the markets.
We should continue to come down in the near future until the markets find a point of reversal, which then will be an amazing opportunity to trade and realize some gains into the end of the year with confidence. Until then though, navigate the markets accordingly and practice safe risk management in the process.
One play that I want to put on your radars today is VinFast. It is a Vietnamese EV producer and has garnered a significant amount of hype. They just de-SPACed and will be trading under the ticker $VFS today. There is a significant amount of hype in this play and will provide us with many amazing opportunities to trade and realize some gains playing the hype and momentum. This is not a play that you want to get stuck in through. Quickly play the upside, and limit your downside risk as much as possible in these market conditions. DO NOT get caught in this play. Only play the hype around open and do not do anything that would be ultimately too risky.
I personally do not know how much I personally will be attempting to play today as I am not the most comfortable nor confident in these market conditions, but all I personally know is that if I get into any plays, it will be a scalp, but I personally will be extremely interested in playing $VFS today with the intension of getting into these plays extremely quickly, and out as quickly as I ultimately get in. I do not anticipate holding $VFS at all, and if I do, it might be a simple free equity play, depending on the demand that is being driven by the markets.
Just continue to be smart in these current market conditions though, practice safe risk management, and protect your bottom line. This is going to be very confusing for the majority of traders, so prepare accordingly. Hope for the best in these market conditions, but prepare for the worst!
Good luck trading today and let’s make the most out of these opportunities available!
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 rough time for our systems. As I said before, we are on a tentative hold on these algorithmic alerts as a result of active testing and shifting of the current market conditions. We do not recommend you enter into any of these positions until we have a confirmation of a direction in the markets and we personally have confidence in the systems. Last week was the first time this year that the algorithm was not up to our standards, and as a result, we still do not recommend allocating to these positions until there is that confidence again. We will continue to present these allocations to you for transparency, and let you know when we are confident again in both market conditions and the algorithm’s ability to navigate the conditions.
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as followed:
Baseline:
$SPY: +0.77%
Our Results:
Sector Neutral: +0.07%
Variable Sector Neutral: -0.01%
Base Algorithm: -0.32%
Long Term Portfolio: -0.34%
Variable Market Neutral: -0.36%
Market Neutral: -0.62%
As stated before, we do not advise active allocations in these positions. We are providing these positions for transparency.
Please do not blindly enter into any of these positions unless you personally are comfortable and confident in the play. If anything, utilize these positions as a watch list and try and find positions accordingly as a result. We will let you know when there is confidence again about how these systems react in market conditions that will be beneficial, and go from there! If you take any of these positions, as always, please practice safe risk management and limit your downside risk by setting stops on any of these positions.
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 8/15/2023
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 , $VFS, $BABA , $TSLA , $NVDA , $AAPL , $RIVN , $MSFT
Position Opportunities:
Follow the momentum in the markets
Open up hedges for any positions you want to hold
Exit all positions you are not comfortable holding
Watch for a breakdown & hold cash to allocate accordingly at the bottom.
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $DIS
Economic News for 8/15/2023
US Retail Sales - 8:30 AM ET
Import Price Index - 8:30 AM ET
Empire State Manufacturing Survey - 8:30 AM ET
Business Inventories - 10:00 AM ET
Notable Earnings for 8/15/2023
Pre-Market Earnings:
Home Depot (HD)
Sea Limited (SE)
On Holding AG (ONON)
Cardinal Health (CAH)
Tencent Music Entertainment (TME)
Jumia Technologies (JMIA)
After-Market Earnings:
Nu Holdings (NU)
Agilent Technologies (A)
Coherent Inc (COHR)
H&R Block (HRB)
CAVA Group (CAVA)
Mercury Systems (MRCY)
Wrap up
Overall, this si going to be an interesting time for the markets, please make sure to practice safe risk management and limit your downsdie risk. Follow the momentum in the markets, and be on the look out for VinFast. This is going to be an overpriced stock at de-spac, but will be a hype play that a lot of people will look into. Go long and ride the momentum, and then sell quickly and take profits when you can. Short if given an opportunity to do so at the top, and just be smart in the process!
Good luck trading, and let’s have some fun today!