Newsletter 06/24/2024

Good Morning Trader!

_{Quote of the day:} “If you fail to plan, you are planning to fail!” - Benjamin Franklin

This quote sits in my notes app. I am a man of structure and planning (execution is a different story lol). I need a plan and anytime there is deviation / getting out of my lane - that is when problems arise. Now I am talking about trading. When the 7 am plan goes out the window by 9:45…. that is when 2 o’clock I am walking away with a big fat red day…

Before SPY levels I want to note a change to the information at the bottom.

 SPY Levels for the day: Last week was a good week but you are only as good as your next trade. Levels are not changing too much from Friday.

No interest zone: 544.1 - 545.49

Above Targets: 545.89 is the first target, Second target is 546.34. Third target is 547.23. Reach Target is 548.5

Below Targets: 543.55 is the first target. Second target is 542.87. Third target is 541.76 reach target is 539.97

NQ Levels for the day:

No interest zone: 19897.04 - 19999.67

Above Targets: 20038.85 is the first target, Second target is 20094.67. Reach target is 20184.93

Below Targets: 19872.86  is the first target. Second target is 19833.65. Third target is 19785.13 and reach target is 19706.7

Shout out to Ben in his PGIR shirt !

I did take a look at CARS:
I really like the fact that 87% Inst Own. shows real confidence.

From a technical standpoint: Alittle bit in no mans land at the moment. A few diff scenarios. The shorter MA have turned down, which is not ideal. After big move up would like it to bounce off the 20 and continue higher or consolidate. it did bounce hard off the 20 first touch but could not keep above which most likely led to profit taking. BUT the larger time frames are still pointing toward the sky which we love. Again, after a big move up we would have liked to seen it hold 20 day MA, consolidate, get tight for the next move up. I look at that area of consolidation as 19.59 - 20.63. We want to see it get back in there, get above the 10, 20 day ma. OR we want to see it pullback, flush down to the 50 day moving average and start to consolidate. Earnings has been pretty consistent and was the cause of the last move up. in an ideal world it consolidates here - has another great earnings report and can slice through ATH. When you do that, that is when you create and could potentially have a COST type move.

Put together a chart to show kinda what i think would be most ideal.

Go Team !

H.H

_{“Hazard Zet Forward”}

_{PLEASE READ: I am doing this because I love the community and enjoy talking about stocks. I have a right to talk about stocks and I’m going to do just that. Nothing is advice. I am not a financial advisor. This is not advice (seriously, i mean it). I am not a pro. I currently plan to not specifically trade any stocks mentioned so there is zero conflict. That being said I could be buying or selling any ticker mentioned at any time. I will do what I want and I want you to do what YOU want. Any money made / lost is the result of your personal decision - “Daily Newsletter” “Hugh henne” “Mitch Hennessey” or anyone / anything connected to any of those are not liable}