Newsletter 12/09/2024

Newsletter 12/09/2024 Sponsored by SpeedTrader

Author

Mitchell Hennessey
December 09, 2024

Quote of the Day: “Put one foot in front of the other And soon you'll be walking 'cross the floor You put one foot in front of the other And soon you'll be walking out the door” - Santa Claus is Coming to Town

Notes: I discussed this on X alittle Friday but as a reminder - market is in a slow drift higher phase. For that to change either need massive gap and go headline or blow off the top parabolic. Until this happens slow drift will continue and can last longer than most expect  For context, the last few weeks of the year are historically very low volume with little clear direction.

To make things worse: - This is the smallest 30-Day Average Daily Volume in the past FIVE YEARS

30-Day Average

1st week November 2023 was 92 million

1st week December 2024 was 42 million

SPY Levels:

No interest zone: 606.8 - 607.91

Above Targets: First target is 608.50 Second target is 609.1 Third target is 609.9 Reach Target is 611.4

Below Targets: First target is 606.45 second target is 606.01 third target is 605.3 Reach Target is 603.69

AMZN LEVELS: AMZN has been a monster…

No interest zone: 225.25 - 226.3

Above Targets: First target is 228.4 second target is 229.49 third target is 231.26 Reach Target is 233.4

Below Targets: First target is 225.25 second target is 224.39 third target is 223 Reach Target is 2221.43


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GOOD LUCK AND BE SAFE

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 could be buying or selling any ticker mentioned at any time. One more time - 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.