SSIH Edition: SYS Research – Daily Report – Sunday, October 18, 2023

Notice: The Daily Setups are provided for informational purposes only and are not intended as a stock-picking service. The charts and information provided are intended to aid research and analysis and should only be used as indicators. They should not be considered as a direct trigger to buy or sell any security. The creator assumes no responsibility for any actions readers take and strongly advises each individual to fully understand the risks and potential consequences before making any investment decisions. Please note that the charts shared are not intended as signals to buy or sell but as a tool to add to your watchlist and analyze according to your trading ability. Remember that not all charts will result in buy or sell actions at any time.

Just a friendly reminder: We update the sector chartists every weekend. We highly recommend that you take some time to browse and create your watchlist. Please pay close attention to the Daily Setups and Workspace scan results for potential future additions to stay ahead of the game.

If you’re facing challenges understanding the Daily Setups or need help crafting a trading strategy, don’t hesitate to ask for assistance. You can contact me via email at info@setyourstop.com or reach me through the Workspace. Let’s schedule a meeting to address your specific requirements and provide you with the guidance you need.

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SYS Daily Report

SSIH Edition

Greg is back with a fresh set of updated charts featuring his unique indicator, the SSI. As always, in the ever-changing landscape of trading, it’s crucial to remain vigilant and exercise caution. With all the uncertainty prevailing, there may never come a time when the guidance of the SSI is needed more. So, without further ado, let’s dive into this special edition of our nightly report, brimming with valuable insights and analysis.

This chart is as low as it got at any time in 2023. It really needs to get the bounce going.

This is at levels typically seen only in bear markets. As an example, the drop in Financials on Friday after the earnings from some of the big ones, was not very comforting.

This is typically where we want to get long, at least for a rally.

Bear market structure. The number of industries still going higher is almost nil. Only saw those levels during 2022.

Once again, this is a good time to look for a short-term bounce.

The chart I wrote about up top, this one shows both. Industries and other monitoring charts moving up vs. down. In 2022, the down cycle broke above this level and stayed up there for most of the year.

This chart suggests you may get a rally like June 2022, but it can fail quickly as well.

If the second half of these charts starts failing, the bear market resumes.

 

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