SYS Research – Daily Report – Friday, September 29, 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 Zoom meeting to address your specific requirements and provide you with the guidance you need.

SYS Daily Report

Stock Market Performance

In a month where Wall Street’s crystal ball typically foretells ominous financial tidings, September proved itself an unyielding adherent to tradition. The stock market’s performance during the month mirrored the script of years past, ultimately casting a shadow over investors’ portfolios. The S&P 500 grappled with more losses, putting the finishing touches on a challenging month. The S&P 500 now sits at a 12% gain for the year, a notable retreat from its impressive ascent of nearly 20% witnessed at the close of July 2023.

In the ledger of monthly performance, September tallied a series of losses for the key indexes. The Dow Jones dropped 3.5%, the S&P 500 saw a 4.9% decline, and the Nasdaq Composite registered a substantial loss of 5.8% in a particularly challenging month.

Index Daily Performance:

  • Dow Jones Industrial Average: Dropped 159 points, a decline of 0.5%.
  • S&P 500: Ended with a 0.3% decrease.
  • Nasdaq Composite: Gained 0.1%.

The 10-year U.S. Treasury note yield made a substantial leap, closing the month at 4.573%, a marked increase from its August closing rate of 4.090%. According to Dow Jones Market Data, this surge represents the most significant one-month yield gain since September 2022.

As investors don their thinking caps and strategists brace themselves for the coming quarter, September’s somber overture serves as a reminder that history often finds itself a persistent guest at the table.

US Daily Setups

BRBR – Bellring Brands Inc

Bellring Brands is currently set up in the form of a bull flag continuation pattern, positioned just below recent highs.

LINK TO CHART – https://schrts.co/CZdssUZf

 

BSY – Bentley Systems, Inc.

Bentley Systems is currently making an effort to trend higher from a continuation pattern.

LINK TO CHART – https://schrts.co/GbjpqDUA

 

CDRE – Cadre Holdings Inc.

Cadre Holdings continues to float above the 21-day exponential moving average as price action strives to push higher beyond a horizontal resistance line.

LINK TO CHART – https://schrts.co/xwPCfqys

 

TSLA – Tesla Inc.

Tesla is curling higher from the lower trendline of a continuation pattern, with the PPO momentum indicator attempting to turn higher from the zero line. Keep a close watch for a potential continuation of upside strength that could potentially lead to a breakout.

LINK TO CHART – https://schrts.co/dAQtvAtK

 

XPEV – XPeng, Inc.

XPeng is currently making an effort to trend higher from a continuation pattern.

LINK TO CHART – https://schrts.co/ZSqQRmFt

 

ZS – Zscaler, Inc.

Zscaler is setting up off the lower trendline of an ascending triangle continuation pattern, with the PPO momentum indicator showing an upward curl from the zero line. Keep a close watch for a potential breakout.

LINK TO CHART – https://schrts.co/KDaRcIsx

 

Canadian Daily Setups

BDGI.TO – Badger Infrastructure Solutions Ltd.

Badger Infrastructure Solutions has reached the apex of a continuation pattern. Pay attention to the large volume by price bar, indicating accumulation during the pattern. Keep an eye out for a potential breakout.

LINK TO CHART – https://schrts.co/GfYQIXkR

 

BTE.TO – Baytex Energy Corp.

Baytex Energy is persistently threatening to break out from a bottoming base, accompanied by a notable increase in volume.

LINK TO CHART – https://schrts.co/mQywXvzP

 

DCBO.TO – Docebo Inc.

Docebo is currently retesting the recent breakout as price action strives to push above the pattern’s upper trendline with an increase in volume. Keep an eye out for a potential acceleration in upside momentum.

LINK TO CHART – https://schrts.co/rdninTHc

 

NFI.TO – New Flyer Industries Inc.

New Flyer continues its upward momentum from the bull flag continuation pattern.

LINK TO CHART – https://schrts.co/jQzwKIUn

 

RBA.TO – Ritchie Bros. Auctioneers Inc.

Ritchie Bros is currently in the process of retesting the recent breakout. Keep an eye out for potential upside momentum.

LINK TO CHART – https://schrts.co/hMarzicN

 

TECK/B.TO – Teck Resources Ltd.

Teck Resources is still in consolidation below a horizontal resistance line. Add this chart to a watchlist and monitor it for a potential continuation of the uptrend.

LINK TO CHART – https://schrts.co/dhjdcesa

 

US Scanner Results

Click on the CandleGlance chart to view it in full size. Find a chart that matches your criteria or interests. You can easily save it to your watchlist on StockCharts.com for further analysis and tracking or copy and paste the ticker list into your chart provider.

 

Canadian Scanner Results

Click on the CandleGlance chart to view it in full size. Find a chart that matches your criteria or interests. You can easily save it to your watchlist on StockCharts.com for further analysis and tracking or copy and paste the ticker list into your chart provider.

 

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