HaiKhuu Daily Trading Report

Good morning and happy Friday! For those who are celebrating it today, happy Mid-Autumn Festival! The moon is full and the markets are looking strong at the time of writing this report! $SPY is trading above the $430 support level, and it shows that we have seen a bounce from what was the relative bottom. I think we will see rejection in the general markets soon, but for now, there is some bullish momentum that we could capitalize on with lots of opportunities to actively trade.

Look to take advantage of the opportunities that are presented in these market conditions, but watch out for the $430 support. There is a very good chance that we test this level again, and it will be a major determining factor of the sentiment in the markets and the overall direction for the day. I am expecting a significant amount of chop in the process, and am worried about some major organizations that are overvalued, that can possibly be sold off today for institutional rebalancing.

Just a reminder, on top of all of the economic news that is coming out today, this is the final day for Q3, and many institutions will be looking to reallocate and rebalance their portfolios, selling organizations they believe have done their full move, and will be looking to pick up organizations they believe are undervalued. Watch out for semiconductors, as there is a significant amount of stigma behind them right now as a result of the movement that we’ve seen over the previous couple of weeks, and because of this, I believe they are a prime contender to sell off with ease as institutions are looking to allocate into energy and value.

Be smart while trading today, practice risk management, and follow the momentum in the markets!

The updated $SPY daily levels are as follows:
Conversion Line Resistance: $433.63
Base Line Resistasnce: $437.98
Strong Psychological Resistance: $440
Weak Psychological Support/Resistance: $430
Weak Psychological Support: $425
Daily Cloud Resistance: $442.63

$SPY Daily Candles - Possible Reversal & Strength [9/28/2023]

Thoughts & Comments from 9/28/2023

Yesterday was an extremely confusing yet bullish day for the general markets. There was a significant amount of chop that made it extremely difficult to find a direction in the markets with confidence, unless you blindly went long early in the day, and were able to sell during the lunchtime lull.

We started the day with $SPY trading at $425.50, down slightly from the previous close of $426.05, but still looking strong through the pre-market session. Right from the rip, markets moved up slightly, to come down and make the official low of the day below the $425 support level, making the official low trading at $424.88. After making the relative bottom, we saw that the markets moved up, and continued to rally throughout the rest of the morning.

Going into the lunchtime lull, there was relative strength in the markets as $SPY was nicely green, and was actively testing $430. We made the official high of the day trading at $430.24 and looking strong at the time. Despite the strength in the markets though, the buying volume was not able to sustain the momentum in the markets above $430, which resulted in the markets coming down extremely quickly as volume picked up and sellers took over the markets. We quickly went from trading above $430 to making a relative low trading around $428 and remained to chop around that level for an extended period of time.

There was a slight bounce in the markets, where we went back up to test $429, but that was quickly sold back off, to come and chop around the $428 support level. This level showed a lot of strength as $SPY continually tested support here, but ultimately, the support level was able to hold up, as the markets rallied into close.

During power hour, we watched as the markets went from testing $428 to making a relative high trading right under $430 again, rejecting and coming down into close. We ended the day with $SPY trading at $428.52, up $2.47 for the day, or up approximately 0.6%, with an intraday bullish movement of +0.71%.

It was a fun time for the markets which provided us opportunities to trade, but provided many opportunities to feel some heat. I personally felt some heat yesterday, but thankfully I was able to realize a significant amount of gains afterward. I hope you all were able to capitalize on the opportunities that were presented to us, and had some fun while attempting to trade.

Let’s see what happens today and try to make the most out of these confusing times!

Thoughts & Comments for Today, 9/29/2023

This is going to be a difficult day to trade. I cannot lie to you, there are many things that will impact people’s ability to be consistent today, and as a result, it will generate a significant amount of losses, but present us with many great opportunities to trade. Please be careful, and smart, but understand that today is going to be an extremely difficult day to navigate with confidence.

In the current state of the market, there is short-term confidence with a possible reversal from the bottom, and tension is easing up as fear is leaving the markets right now. We have bounced from the relative bottom, and have shown strength at these levels. This is a great sign for the markets as it shows that there are signs of life and possibility, but at the same time, it is killing confidence as a lot of people who are skeptical and realistic understand the fall risk in the markets at the moment.

Today historically is a bearish day, with most major institutions finalizing their portfolios for Q4, and will result in a lot of selling in organizations that are overvalued and will be looking to buy organizations that they believe are at a great price. This will do extremely well for some of the organizations you are invested in, assuming that one of these institutions adds to your position, but outside of that, leads to a significant amount of hope and prayer in the markets that the allocations you are in are fairly priced, and are not about to be sold off.

We have a significant amount of news that will impact market momentum and confidence, which will dictate the direction of the markets. I am expecting to see a significant amount of chop around the $430 support level until we ultimately find the direction the markets want to move, and this will result in a significant amount of traders being blinded by personal biases that they want the markets to go.

I personally would advise you all to be extremely cautious and careful while attempting to trade these levels right now and do what you can to minimize your downside risk. I would still advise to slowly add to positions that you believe are undervalued and hold those positions over the course of time while staying away from large mega-caps and tech organizations that have a significant amount of downside risk potential. If you are attempting to trade, look to allocate with the market momentum, allocate only when you have confidence into higher beta positions, and get out extremely quickly. Make sure to set stops, have an exit plan ready, and secure profits when given an opportunity to do so. A lot of people will be able to realize a significant amount of gains while trading today, while others will have difficulties. Make some smart plays, have some fun, and we should all have a phenomenal time in the process.

Safety is going to be key in these market conditions, but look to do what you can to maximize your profits today. Do not get greedy, but look to take on opportunities when they come, because if the market momentum is looking exceptionally strong while looking consistent, then let your position ride and realize consistent gains throughout the day.

Personally, I simply do not believe I will trade today. I will be watching allocations and calling out positions when I see an opportunity, but I personally do not have confidence in these market conditions, nor believe that I will be able to navigate these conditions with consistency. I have personal allocations that I will continue to hold and may add to if given an opportunity, but as a result of all of the events occurring today, and the trading that took place yesterday, I believe that I simply will not be making any allocations today. This is not me losing confidence in myself or my ability to navigate the markets, but more so understanding the market conditions and making sure that I respect the conditions of the markets and understand my place as a trader. I’ve had an amazing week, and there is no reason to attempt to ruin it to try and have some fun.

Again, please, just be safe today and look to realize some gains when you are given an opportunity to do so!

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 interesting time that resulted in market conditions not being favorable for us. It looks like the long-term portfolio underperformed significantly in comparison to the general markets, and as a result, the algorithm did absolutely terribly in the process. It is unfortunate but as I say, C’est la vie, that is just part of being in the markets and why we are doing active tests. We will see how these continued live tests go before we ultimately lift our hold.

To get an in-depth analysis of our algorithms' performance, check out Asher’s Report!

The results of yesterday are as follows:

Baseline:

$SPY: +0.71%

Our Results:

Sector Neutral: -0.27%
Variable Sector Neutral: -0.42%
Long Term Portfolio: -0.52%
Market Neutral: -0.79%
Variable Market Neutral: -0.84%
Base Algorithm: -0.89%

As I said before, the algorithm is on a tentative hold as a result of a loss of confidence in these extremely difficult market conditions. We are looking to lift this hold soon, but for now, it is still on hold. If you are attempting to follow any of these positions, know that HaiKhuu is not currently endorsing any of these positions, and are only continuing to provide them for complete transparency and consistency sake while we are actively testing new systems to improve our algorithm. If you are attempting to allocate into any of these positions right now, we highly recommend you follow the allocations of the current long-term portfolio that the algorithm is built on, as those are all fundamentally solid organizations that should provide you with positive returns over time.

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.

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 , $AMZN , $NVDA, $DG , $DIS , $MSFT , $TSLA, $AAPL

Position Opportunities:

Follow the market momentum
Limit your downside risk
Hold cash & prepare to allocate into the markets

LONG OPPORTUNITIES:

Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $DIS

Economic News for 9/29/2023

Personal Income and Spending - 8:30 AM ET
PCE Index - 8:30 AM ET
Advanced US Trade Balance in Goods - 8:30 AM ET
Advanced Retail Inventories - 8:30 AM ET
Chicago Business Barometer - 9:45 AM ET
UMich Sentiment and Inflation Expectations - 10:00 AM ET

Notable Earnings for 9/29/2023

Pre-Market Earnings:

Carnival Corp (CCL)

Wrap up

Overall, this is going to be an extremely interesting time for the markets with a significant amount of chop and confusion across the board. Please be smart and safe, but take advantage of any and all opportunities that are presented to you in these conditions. Look to realize some gains, and if the markets are looking strong, continue to allocate accordingly. Let’s see what happens today, and let’s end this week strong!

Good luck trading, and happy Mid-Autumn Festival! Let’s make some bank and have a great weekend!

Join Our FREE Trading Community!

HaiKhuu Daily Report 9/29/2023