HaiKhuu Daily Report 9/18/2023
Good morning and happy Monday! Hope you traders all had an amazing weekend and are excited to see what happens in the markets today. At the time of writing this report, $SPY is down slightly during the pre-market session, but not enough to generate a significant amount of fear. This should be an extremely interesting week for the markets, mostly as conditions have been extremely volatile.
As always, please be cautious, mostly in these market conditions, and tread extremely lightly if you are actively allocated, or looking to allocate into major tech. Those organizations have come down recently, and there is significant risk in attempting to trade or allocate here at these relative highs.
Please note that historically, today (9/18) is a historically bullish day, while Thursday and Friday are historically bearish. This does not mean we are going to see a significant movement in either direction, as we’ve seen that despite historical data saying otherwise, we’ve been against the grain for the previous couple of months.
Realize some gains trading this week, and have some fun in the process. It will be interesting to see how $SPY reacts to the daily baseline support, and let’s prepare to see some larger movements in the greater markets!
Good luck trading this week, and let’s have a great time!
The updated $SPY daily levels are as follows:
Conversion Line Resistance: $446.72
Base Line Support/Resistance: $443.34
Weak Psychological Resistance: $450
Strong Psychological Support: $440
Daily Cloud Support: $437.35
$SPY Daily Candles - At Baseline Support [9/18/2023]
Thoughts & Comments from Last Week
Last week was an interesting time for the general markets with a significant amount of both bullish and bearish momentum that made trading extremely difficult to do consistently, but many great opportunities to realize a significant amount of gains. The biggest thing everyone actively watched was the $ARM IPO, which net us all a significant amount of realized gains on 9/14.
Monday was an interesting time for the markets as there was a significant range and an extremely quick snapback recovery from the bottom. $SPY opened the day trading at $448.24, dropped quickly to $446.47, broke below the daily baseline support, and closed the day trading at $448.45, up ever so slightly from the open price, not netting a significant overall gain, but provided us all with an amazing opportunity to play both the upside and the downside.
Tuesday was not much better of a day for the markets as there was a significant amount of relative weakness in the markets and it did not provide us with general confidence. $SPY opened the day trading at $446.95, but showed strength as we moved up to test the daily conversion line again above $448.50, but ultimately was rejected, making the official low of the day going into close, trading at $445.99.
Wednesday was a relatively neutral day for the markets with a tighter range, and not much overall movement from open to close. We started the day trading at $446.22, made a high trading at $447.71, and made its official low trading at $445.08. We ended the day with $SPY trading at $446.51, up a fraction of a percent on an intraday basis.
Thursday was a fun day for the markets as we opened the day slightly below the daily conversion line resistance on $SPY, but showed a significant amount of strength throughout the day as people were preparing for the $ARM IPO. We opened the day trading at $449.07, made the official low of the day trading at $447.71, and pushed up to break above the daily cloud resistance, making the official high of the day trading at $451.08. We watched as despite making a significant high of the day breaking above the cloud, $SPY was not able to retain that level and as a result, sold off into close, closing the day officially red on an intraday basis, trading at $448.78. Tough overall movement in the markets, but it provided us with amazing opportunities to trade on an intraday basis.
Friday was a disgusting day for the markets that burned a significant amount of traders in the process. We started the day off looking exceptionally weak, opening the day trading at $447.09, down from the previous close of $448.78. $SPY popped up slightly at open, to make the official high of the day trading at $447.47. Afterwards, it genuinely was game over. The markets continued to slip throughout the whole day, making a relative low of the day going into the lunchtime lull, bouncing off $444.50, and finding some support above $445, before ultimately continuing to come down for the rest of the day. After the lunchtime lull, we saw an increase in general volume, resulting in significantly more selling and weakness in the general markets as $SPY broke below $444, and remained under $444 for the rest of the day. We made an official low of the day going into close, with $SPY trading at $442.93, and ending the day trading at $443.37, down $5.41 for the day, or down approximately 1.2% overall, with an intraday bearish movement of -0.84%. It was a terrible way to end the week, but as you all know what I say… C’est la vie
It was an extremely tough week for the markets with an overall movement of -1.1%, but I hope you all were able to capitalize on the opportunities that were available to us, and not incur any losses at all. In reality that is most likely not the situation, and some losses were incurred, but let’s see what happens this week, as this is going to be an extremely interesting time as we are testing support levels again.
Thoughts & Comments for Today, 9/18/2023
This is going to be an extremely interesting week that will be difficult to trade with confidence but provide us with many opportunities to trade.
$SPY is down slightly at the time of writing this report, but we are starting to show a little bit of strength from the bottom during the pre-market session. We are testing the daily baseline support, and are at the point of confusion in the markets. We are dead neutral on the fear and greed index, and as a result, this is going to be an extremely difficult time to capitalize on these market conditions. I would advise caution when attempting to trade and recommend not being hard-struck in any particular direction. Do not be overly bullish or bearish, but look to follow the intraday momentum on $SPY. This is going to be an extremely choppy time for the markets, so tread lightly and be careful.
Watch for a possible breakdown on $SPY in the near future, if we break below and hold below this daily baseline support, there will be bearish momentum and sentiment in the markets until we break under the cloud support.
I would advise looking at generally safer allocations in the markets in the short term, and not taking on a significant amount of risk unless the market conditions shift intraday and show confidence. The only thing I can say with confidence right now is that a lot of people are going to have an extremely difficult time trading, and as a result, generate a significant amount of losses.
This is not the time to look to take on a significant amount of risk, but as always, there are going to be opportunities to trade in the markets. Holding cash is going to be phenomenal as you will be able to allocate accordingly when you have confidence, as well as you will have zero downside risk while holding cash at this time.
One play to watch out for is the Instacart IPO. As an organization, I am extremely bearish on them. I believe they are hemorrhaging money left and right and are starting to run out of VC money to capitalize on, so they need to go into the open markets to secure more funding and liquidity. As a result of this, I do believe that they will fall and get absolutely decimated once they reach a fair evaluation. But despite this, I do believe they are going to be an extremely hyped-up IPO where if you are able to catch the short-term momentum of their IPO, you should be able to realize some gains actively trading them with ease and confidence. I would not attempt to hold any shares of this organization, but simply trade the hype and momentum of the first 15 minutes of them being public.
For myself personally, I do not know how many active trades I will be looking to make not only today but this week. This is going to be an extremely busy week for me personally, and I am not confident in these market conditions, so I will trade when I have an opportunity to do so, but I will not force any positions nor attempt to allocate if a position is not optimal. I still suggest actively trading this momentum when given an opportunity to do so, but I do not recommend overtrading or forcing any positions in the short term.
As always, make sure to practice safe risk management, limit your downside risk, and ensure that you are setting stops in guaranteed profits on any of the trades you make today to ensure you are consistently realizing gains during this time of confusion in the markets. Watch out for the daily baseline support on $SPY and maximize your profits while you can!
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 amazing overall week for the systems, mostly in comparison to the general markets. This was led by significant strength via our long-term portfolio and fundamental analysis. The base algorithm underperformed in comparison to the portfolio it was built on, and we are not going to be lifting this hold until we are confident in its ability to perform well in these conditions. We apologize for this but we are sure you understand, that we would rather not lift the hold before we are confident and ready, versus lifting it early without confidence resulting in losses to be incurred. We apologize again for maintaining this hold in the short term until we are able to get some unbiased data running this against the S&P500 as a whole to ensure proper testing and results. We will keep you updated about this process over the next couple of days.
We are excited that we are planning a launch of our intraday algorithm as it has had its second strong week in a row of performance. We are expecting this to be released on Wednesday after we get a new batch of tickers to run this algorithm on.
If you would like to get an in-depth analysis of our algorithms' updates, check out Asher’s Report!
The results of last week are as follows:
Baseline:
$SPY: -0.66%
Our Results:
Long Term Portfolio: +0.61%
Variable Sector Neutral: -0.23%
Market Neutral: -0.26%
Base Algorithm: -0.29%
Variable Market Neutral: -0.32%
Sector Neutral: -0.41%
As I said before, these positions are on a tentative hold at the moment while we are live testing in these current market conditions. We are going to be lifting the hold soon as long as situationally everything is looking as expected. Just a reminder that these positions are not currently endorsed by HaiKhuu, but we are providing them for complete transparency and consistency sake while we are working on active improvements. If you are taking any of these positions, take them at your own risk and practice safe risk management in the process!
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 9/18/2023
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 , $F , $GM , $TSLA , $AAPL, $DIS , $NVDA , $MSFT, $FAZE*
Position Opportunities:
Follow the market momentum
Exit positions you are not comfortable holding
Hedge positions you want to hold
Have cash ready to allocate in the markets
LONG OPPORTUNITIES:
Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $DIS
Economic News for 9/18/2023
Home Builder Confidence Index - 10:00 AM ET
Notable Earnings for 9/18/2023
Pre-Market Earnings:
None Scheduled
After-Market Earnings:
Stitch Fix (SFIX)
Investcorp Credit Management (ICMB)
Wrap up
This is going to be an extremely interesting time for the overall markets that will provide us with opportunities to trade, and opportunities to get burnt. Please make some smart decisions when attempting to allocate into the markets right now, but do what you can to maximize your profits. Please practice safe risk management, and limit your downside risk in the process of everything. This should be a fun time with many trades provided to us, so take advantage of the opportunities and have a great time.
Good luck trading this week and make some BANK!