HaiKhuu Daily Report 8/21/2023
Good morning and happy Monday! Hope you traders all enjoyed your weekend and are excited about the current market conditions. $SPY is up at the time of writing this report, and we are looking strong, with $NVDA up over $10 since the market close on Friday. We are playing in the daily cloud, with a bearish TK cross under, signaling that we have bearish momentum in the markets, but it seems that there has been a possible bounce in the short term!
We are currently neutral on the fear and greed index but are at the lower end signaling there is possible fear in the markets right now, but despite this, the pre-market session is looking good and there are going to be many opportunities to trade and realize gains in the process.
Please continue to ride the momentum in the markets and realize gains when you are given an opportunity to do so. Lots of people will be able to realize a significant amount of gains while actively attempting to trade this momentum, and more people will ultimately have a lot of difficulties and will realize even more losses while attempting to trade this craziness in the markets.
Good luck trading and let’s see what this week has in store for us!
The updated $SPY daily levels are as followed:
Conversion Line Resistance: $442.36
Base Line Resistance: $446.23
Strong Psychological Resistance: $440
Weak Psychological Support: $430
Daily Cloud Resistance: $441.40
Daily Cloud Support: $427.55
Thoughts & Comments from 8/18/2023
Last week was a tough week for the general markets that provided us with many opportunities to trade, but more opportunities to unfortunately realize some significant losses. There was an overwhelming amount of bearish momentum as we broke through multiple major support levels on $SPY.
We started the week with $SPY testing $445, and a weak bearish TK cross under on the $SPY daily chart. This level was not looking extremely weak, and we actually showed strength throughout the day, as $SPY moved up and made a relative high, right at the daily cross under, making the official high of the week trading at $448.11. We were looking optimistic at the time, but there was a clear rejection at the strong resistance level which resulted in us coming down.
Tuesday was a weaker day for the general markets as we rejected the daily resistance and continued to move down accordingly, where we made the official high of the day right around the open price, under the daily conversion line resistance, and continued to move down, making the official low of the day trading at $442.30, and recovering slightly into close.
Wednesday was another day of general weakness, as the markets continued to come down accordingly, but the selling on Wednesday, was not significant, but the day made it feel significantly worst despite the relatively neutral sentiment. We did break below $440 and held it until close though, as $SPY ended the day trading at $439.65.
Thursday was the most significant day we had last week, with a significant amount of selling as we broke into the daily cloud, and continued to sell off in the process with relative strength. $SPY started the day trading up from the previous close, trading at $441.16, and quickly made the high of the day trading at $441.43, before ultimately selling off with relative strength, and continuing to come down for the large majority of the day with confidence. It was tough as we broke into that daily cloud, and continued to come down. $SPY made the official low of the day trading at $435.75 and ended the day trading at $436.29.
Friday was a slightly better day for the markets, but still displayed a significant amount of weakness. We opened the day bloody red, making the official low of the week trading at $433.01. We did move up accordingly throughout the day which was nice, as $SPY continued to push up consistently throughout the entire day. Around lunch, is where we saw a slowdown in relative momentum, as we officially went black on the day, from the previous close on Thursday, and continued to hover around that level and chop around for the rest of the day. There was a slight break out in the markets right before close, which ultimately sold off at the end of the day, as we ended the week with $SPY trading at $436.50, recovering all of the losses that were incurred during the pre-market session on Friday, and ending the day green by $0.21, or approximately 0.05%.
For the overall week, $SPY dropped approximately $8, and was down almost 2%. It was an extremely difficult week for the general markets that did not provide us with many good opportunities to trade to the bullish side, but the bears were the clear winners of last week. Hopefully, you all were able to capitalize on the opportunities that were available to us with that bearish momentum and realize some gains!
Let’s see what the markets have in store for us this week, and hopefully watch a reversal and break out in the process! Let’s have a great time and realize some gains in the process!
Thoughts & Comments for Today, 8/21/2023
Today is looking significantly better for the current market conditions. I’m excited for today and hope that you all are too. There is some strong bullish momentum in the markets during this pre-market session, and there should be some great opportunities to trade today! Please as always, be extremely careful and cautious about these current market conditions as there is going to be a significant amount of confusion in the current market condition.
There is strength in the current markets as there are multiple organizations that have moved up nicely during this pre-market session and overall strength in the markets, but at the same time, there is a lot of confusion in the markets, as there are many signs of bearish momentum in the markets. We have seen a breakdown from the top on $SPY, and the markets are continuing to trade in the daily cloud. The bearish TK cross-under is continuing to look strong, and there is fear coming back into the markets. But at the same time, with all things considered, the markets are starting to move up nicely from the bottom.
If I were to guess the overall market conditions, I would obviously predict that things are going to be bearish over the upcoming days, with some slight bullish momentum in the markets, but stronger tones of bearish momentum that will cause a lot of difficulties in the markets, making people extremely inconsistent with their trades, resulting in a significant amount of losses being generated, despite a relatively smaller overall movement in the markets.
I would not attempt to fight any trends right now, and just stick to actively trading the day-to-day momentum in the markets. If you are able to actively day trade and capitalize on the momentum in the markets, you will be able to efficiently navigate in these current conditions without having to be hard-struck on wanting the markets to move up, or to come down. This will provide us with an opportunity to trade with relative confidence and assure that we are doing what we can to maximize our profit potential while limiting risk.
This should be a fun time in the markets, but as I have been saying, please make sure that you are practicing safe risk management at this time. There is going to be a lot of confusion that will be extremely difficult for the large majority of traders to navigate with relative confidence, and consistency will not be there for the majority of traders that need it. By efficiently navigating the market conditions in the short term, you will not be able to capitalize on a larger movement in the overall markets, but you will decrease your risk by not having exposure that is not favorable.
Just continue to tread lightly on these market conditions and realize gains when given an opportunity to do so!
For myself personally, I think I am going to be taking a slight step back from active trading right now. This is not due to any larger issue, but more of a positive thing. I am personally preparing to take the SIE and will be making detailed notes for myself over the next couple of weeks, as I plan on taking the exam next month. So I will personally be spending time every day going over my booklet, and taking detailed notes that I will share with everyone in the discord. I still will be actively trading at market open, and close, but when the market momentum starts to slow down around lunch, please note that I will most likely be studying at that time. I trust my team and the community to keep activity flowing at that time, and I just want to thank you all now for allowing me the opportunity to pursue this exam. I will also be looking to get multiple series exams after getting the SIE, so notes will be available for those too once I’ve completed everything, and will be posting my detailed notes for everyone once they are finished!
So let’s have some fun this week and continue to absolutely kill it!
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 a relatively alright time for the systems as we are going through and doing confidence tests at the moment. As a reminder, we are not currently endorsing these positions for the first time, as the algorithm has underperformed in the current market conditions and is performing live tests at the moment. We are continuing to produce results for you, but know that we are on a tentative hold until market conditions get better and we are confident in the algorithm’s ability to remain profitable at this time. So please, remember that we are only producing these alerts for you right now for consistency sake and transparency. If you decide to take on any of these positions, take them with an extreme grain of salt.
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: -1.02%
Our Results:
Sector Neutral: +0.23%
Variable Sector Neutral: -0.52%
Variable Market Neutral: -0.94%
Market Neutral: -0.94%
Base Algorithm: -1.16%
Long Term Portfolio: -1.43%
With our tests not being concluded yet, we are not actively endorsing entering into any of these alerts. As I said before, we are positing these positions for transparency's sake, and do not recommend blind entry into any of these positions. If anything, use this list as a watch list and find the positions that you personally believe will do well today, and use this as a confirmation bias for the positions you are interested in entering.
Again, we do not recommend any blind entries into these positions right now, and recommend proper risk management when attempting to enter into any of these plays.
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 8/21/2023
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 , $NVDA , $AMD , $TSM, $TSLA , $AAPL, $MSFT , $VFS, $RIVN
Position Opportunities:
Follow the momentum in the markets
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 8/21/2023
No economic news scheduled
Notable Earnings for 8/21/2023
Pre-Market Earnings:
Freightos (CRGO)
Smart Shares Global (EM)
Jiayin Group (JFIN)
Jianpu Technology (JT)
Nano Dimension (NNDM)
So-Young International (SY)
Zepp Health Corp. (ZEPP)
After-Market Earnings:
Zoom Video Communications (ZM)
Flexsteel Industries (FLXS)
Motorsport Games (MSGM)
Fabrinet (FN)
Wrap up
Overall, this is going to be an extremely fun time in the markets that will provide us with opportunities to trade, realize some gains, and have a great time in the process. I would not recommend being overly bullish or bearish at the moment, and to continue to follow the momentum in the markets. Please take advantage of the opportunities in the markets, practice safe risk management, and have a lot of fun in the process.
Good luck, and let’s kill it trading this week!