HaiKhuu Daily Report 9/01/2023
Good morning and happy Friday! Hope you traders all are doing phenomenally and are super excited about these market conditions. $SPY is looking strong at the time of writing this report, and we are seeing a significant amount of upside momentum at this point. As I have said before, do not be overly bullish or bearish in these current market conditions, but just follow the momentum in the markets. Everything is looking good during this pre-market session and look for opportunities to end this week off strong. Just make some smart plays, realize some gains, and have some fun!
We are officially starting our $2k-25k challenge on the discord, so if you have not already signed up to participate, please check out the $2k to $25k challenge room in the discord and have an amazing time! Anyone who participates and completes the challenge will get a nice customized trophy signifying that you’ve won, as well as net $23,000, so that is gonna be a great time for ANYONE who participates!
Make sure to check out the challenge, I’ll be posting more about it later today, and think that this is going to be an amazing time!
Good luck trading today, let’s make some bank, and I hope you all have an amazing weekend!
The updated $SPY daily levels are as follows:
Conversion Line Support: $443.91
Base Line Support: $444.59
Weak Psychological Resistance: $450
Strong Psychological Support: $440
Daily Cloud Support: $449.79
Thoughts & Comments from 8/31/2023
Yesterday was quite a choppy day for the general markets, making everything extremely difficult to navigate with confidence.
We started the day off relatively strong, with the markets opening up nicely green, trading at $451.70, up from the previous close of $451.01. $SPY continued to move up throughout the morning, where approximately an hour after open, there was some strong bullish momentum in the markets, and we made an official high of the day, with $SPY trading at $452.82.
The markets did start to cool down afterward though. We came down from the relative high going into the lunchtime lull but did see a slight pick up after noon EST, as people were starting to come back. We tested $452 and continued to play around that level until the markets ultimately started to sell off, where we went red for the first time for the day. We tested $450.50 but quickly bounced back and had an extremely quick recovery, back up to $452 leading into power hour.
Around 2:25 pm EST, the markets made a relative top again trading at $452, but was quickly met with selling, where we continued to move back down, starting power hour officially black for the day, despite the nice movement up for the day.
We did see some slight recovery going into the final part of the day, where $SPY did pop up after starting powerhour black, but that was officially matched with some downside selling, and watching as the markets made an official low of the day, during the final candle. $SPY ended the day making the official low trading at $450.17, and ended the day trading at $450.35, down $0.66 for the day, or approximately -0.15%, with an intraday bearish movement of -0.29%. It was a tough day to attempt to realize some gains, but it is what it is.
Hopefully, you did not lose while trading yesterday, but just know that it genuinely was a difficult time outside of the first hour of the day with some strong momentum. Hopefully, your losses were not much, and if you were able to realize gains and capitalize on the opportunities that were presented to us, congratulations and great job.
Let’s see what today has in store for us and have a great time in the process!
Thoughts & Comments for Today, 9/01/2023
Today as I’ve said before, should be a good time for the markets. If that is the case in reality though? Who knows. This will be a confusing yet choppy day until we pick a direction to ultimately go.
We are continuing to look strong above the daily resistance levels on $SPY, and are having the Ichimoku lines start to narrow, resulting in what could be a confirmation of a reversal and a bullish signal once we see that official bullish TK crossover on the daily. This would obviously be ideal for the overall markets as we want the markets to continually move up, but this just makes market conditions very confusing and will remain volatile as a result.
I personally would not recommend going too heavily into equity positions right now, and if you do attempt to get into anything, make sure it is a play that you have confidence in, but the best move at this point, is not to allocate heavily into the markets, but by increasing the number of active trades you are making, to assure that you have exposure in the markets.
If you are attempting to go long into these markets right now, I would advise staying away from higher beta, organizations. Yes, in the short term, allocating into organizations like $TSLA and $NVDA, is going to be a great hold while the markets are going up, but we are at the point of confusion right now, where things are looking great, at the same time, who knows ultimately when the markets start moving against your general position, we will see a significant amount of downside risk as a result of this. Once those positions start to fall off, they will ultimately be the ones who fall the hardest.
The types of positions I would recommend right now are more “safe” if you are attempting to allocate long here. There are many fundamentally solid organizations with a lot of upside potential, but it is just a matter of what will happen in the short term, if you are playing the larger scale, then short-term movements should not concern you at all. As I have been saying, the organization I have personally been watching significantly as a result of this is $DIS. They have been hit extremely hard recently and have found what I believe is a relative bottom here trading around $83. This is not a bad price at all to start a position, or average into a position if you already have shares. Do not attempt to play this for today or tomorrow, but more so as an allocation in the markets that with enough given time, will recover nicely. It is a matter of if, not when Disney moves up.
For my positions today, one position I have done extremely well with over the previous couple of days is $VRA. I have had a lot of luck recently buying with the intention of holding it in the short term, but then am quickly presented with a quick 5-10% rally, resulting in me taking profits before $VRA comes back down into close. I think out of all the plays I am thinking about today, I am very happy buying and holding it with the intention of not exiting, but if given an opportunity to move in and out of the play again, and realize some gains as a result, I will not be upset with that opportunity. I’ll as always continue to look for opportunities in the markets to trade, and still remain firm on my position that this is not the time to add heavily to the markets. Let’s just continue to follow the momentum and see where the markets ultimately take us today.
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 extremely tough day for our systems as a result of a tough movement in the long-term portfolio. It is one of those things that sucks in the process of creating allocations, but there was just a lot of risk off that negatively impacted the performance. As I have been saying though, these market conditions have been tough on our active systems, where we are still on a tentative hold. I hope that this hold is removed in the near future and that we will be able to move forward with upgrades to our system. Once testing has come back conclusive, I’ll keep you all updated.
To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!
The results of yesterday are as follows:
Baseline:
$SPY: -0.29%
Our Results:
Sector Neutral: -0.08%
Market Neutral: -0.55%
Variable Sector Neutral: -0.56%
Variable Market Neutral: -0.69%
Base Algorithm: -0.83%
Long Term Portfolio: -1.04%
As I said before, we are still not endorsing these allocations as market conditions have not shifted in the short term and we are still not comfortable with the inconsistencies of the algorithm. We highly recommend you take these with a grain of salt if you are considering any of these positions, and recommend you look at it more so as a confirmation bias on a watchlist of tickers you are interested in, than a list of tickers we recommend you enter.
These positions are all valid from our old testing systems, but we do not endorse these. These are presented for transparency and consistency's sake, so please be careful and limit the risk if you decide to enter into 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 9/01/2023
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 , $VRA* , $DIS, $TSLA, $DELL, $NVDA, $NOTE* , $VFS*
*= Speculative watch
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 9/01/2023
Nonfarm Payroll - 8:30 AM ET
Unemployment Rate - 8:30 AM ET
Hourly Wages - 8:30 AM ET
ISM Manufacturing - 10:00 AM ET
Construction Spending - 10:00 AM ET
Notable Earnings for 9/01/2023
Pre-Market Earnings:
Quanex Building Products Corp (NX)
Canadian Western Bank (CBWBF)
Core and Main Inc. (CNM)
Wrap up
Overall, this should be an interesting time for the markets. Look to follow the momentum, and make sure to practice safe risk management, but look to take on some risk and general exposure today, to end the week strong. Don’t forget to sign up for our $2k-$25k challenge, and have an amazing time in the process!
Let’s end this week strong and make some bank in the process!
Good luck trading today, and have an amazing weekend!