SYS Research – Daily Report – Monday, April 1, 2024

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: 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

S&P 500 Dips at Quarter Start Amidst Fed Rate Cut Uncertainty

The S&P 500 stumbled as the new quarter commenced, spurred by fresh data casting doubts on the Federal Reserve’s potential for three interest rate cuts this year. Consequently, the yield on the benchmark 10-year U.S. Treasury surged approximately 14 basis points, returning to the apex of its 2024 range at 4.329%, up from Thursday’s 4.192% before the extended holiday weekend. Such movement triggers concern, especially given the ongoing indication from weekly PPO momentum indicators on major indexes hinting at a possible bearish cross. Caution is probably wise, with prudent management for any downside risks and appropriate stop-loss settings. This is a time for careful navigation, mainly as the scanner yields few promising results.

10-Year US Treasury Yield

The spike in yields had a chilling effect on the stock market, which initially opened on a positive note but later faltered following the release of the S&P Global Manufacturing PMI, revealing a 22-month high in March. Although U.S. factory activity maintained a position above the crucial 50.0 mark for the third consecutive month, it registered slightly below February’s figures. A breakout above the horizontal resistance line on the 10-year treasury would be concerning and unexpected.

Closing the day, the S&P 500 recorded a 0.2% decline, while the Dow Jones Industrial Average experienced a 0.6% fall, despite its record highs the prior week. The Nasdaq Composite earned a marginal 0.1% gain, buoyed by robust performances in large technology stocks. It is worth noting the emerging shape of the PPO momentum indicator attempting to curl lower across all charts. For now, price action is still floating above their upward-sloping moving averages, but a bearish cross on the PPO would be concerning.

S&P 500 – Weekly Chart

Dow Jones Industrial Average – Weekly Chart

Nasdaq – Weekly Chart

In the realm of thematic investing, the uranium sector surged today following a string of price upgrades. This propelled the URA ETF to reclaim its 50-day (or 10-week) moving average, a level underscored in the weekend report for monitoring. The daily setups are teeming with uranium-related charts.

Uranium Theme – Global X Uranium ETF

Transitioning from the introduction to the daily setups section, we heed the wisdom of renowned investor Seth Klarman, who aptly stated, “Crisis is the acid test of a successful investor’s temperament and strategy. In times of uncertainty, preserving capital becomes paramount.” With this principle in mind, let’s delve into today’s daily setups while remaining vigilant against the backdrop of prevailing uncertainties.

US Daily Setups

AMD – Advanced Micro Devices, Inc.

AMD is currently setting up below a horizontal resistance line. Monitor closely for any potential breakout signals.

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

 

CCJ – Cameco Corp.

Cameco has successfully reclaimed its 50-day moving average and is breaking out above the horizontal resistance line. This serves as a noteworthy example of how the 50-day moving average acted as a compression force akin to a coiled spring. With the price reclaiming this moving average, it’s as if the lid has been lifted off, propelling the stock higher like an exploding jack-in-the-box.

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

 

LPG – Dorian LPG Ltd.

The setup for Dorian LPG that emerged over the weekend is now breaking out above the horizontal resistance line. This resistance line played a role similar to the 50-day moving average on Cameco, compressing the price like a coiled spring. Once the price managed to break above this horizontal resistance line, it surged higher, resembling the release of a Jack-in-the-Box when the lid is lifted.

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

 

MSOS – AdvisorShares Pure US Cannabis ETF

The AdvisorShares Pure US Cannabis ETF continues to position itself for a potential breakout.

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

 

PLTR – Palantir Technologies, Inc.

Palantir is currently attempting to rebound off its 50-day moving average. It’s essential to monitor this level to ascertain if the price can hold and sustain the uptrend. Additionally, keep an eye on the PPO momentum indicator as it approaches the zero line. A successful test of the zero line would coincide with a successful test at the 50-day moving average, indicating a potential resumption of the trend.

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

 

URNJ – Sprott Junior Uranium Miners ETF

The Sprott Junior Uranium Miners ETF is breaking out above the horizontal resistance line, coinciding with an influx of price upgrades in the uranium space today.

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

 

URNM – Sprott Funds Uranium Mining ETF

The Sprott Funds Uranium Mining ETF, which is an alternative to the URA ETF, is breaking out above its horizontal resistance line.

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

 

Canadian Daily Setups

AYR/A.CA – AYR Strategies Inc.

AYR Strategies continues to experience upward momentum, primarily correlated with the performance of the US cannabis ETF (MSOS).

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

 

CCO.TO – Cameco Corp.

Cameco has successfully reclaimed its 50-day moving average and is breaking out above the horizontal resistance line. This serves as a noteworthy example of how the 50-day moving average acted as a compression force akin to a coiled spring. With the price reclaiming this moving average, it’s as if the lid has been lifted off, propelling the stock higher like an exploding jack-in-the-box.

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

 

FCU.TO – Fission Uranium Corp.

Fission Uranium is currently attempting to break out from a falling wedge continuation pattern.

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

 

NTR.TO – Nutrien Ltd.

Nutrien continues to show potential for a breakout from a bottom pattern.

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

 

PPL.TO – Pembina Pipeline Corp.

Pembina Pipeline is attempting to trend higher from a bull flag continuation pattern.

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

 

TOU.TO – Tourmaline Oil Corp.

Tourmaline Oil continues to exhibit positive price action while positioned in the middle of its consolidation zone.

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

 

TSND.TO – TerrAscend Corp.

The TerrAscend setup continues to perform positively following today’s positive news in the US cannabis sector.

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

To bring our report to a close, we thank you for your engagement and insights. Your feedback is of great value, and we encourage you to share your recommendations. Stay attentive to the Daily Setups, the Workspace, and the Watchlists for emerging opportunities. Additionally, be sure to explore the scanner result PDFs provided below. Until next time, happy trading!

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.

EXPORT – US Watchlist Scan – 2024-04-01

ACMR, AEM, AEO, AGYS, AKAM, ALAR, ALPN, AM, AMAT, AMD, AMZN, ANET, ANF, APA, APLS, ARCO, AROC, ASML, ASND, ATKR, AVGO, AZO, BAH, BALL, BAX, BBWI, BECN, BLX, BMA, BRBR, BRC, BWA, BYRN, BZ, CAPL, CBT, CCJ, CDNS, CHD, CI, CLS, CMPR, CNX, COP, CPB, CRI, CRM, CRS, CSCO, CSL, CSTM, CVI, CVX, DAC, DASH, DD, DDS, DEFTF, DELL, DG, DGX, DHT, DINO, DLTR, DMLP, DNN, DORM, DOW, DSGX, DVN, E, EA, EGY, EHC, EME, EOG, EPD, ESEA, ESOA, ETRN, FANG, FLS, FRO, FSLR, FSS, FTAI, FTI, FUTU, FWRG, GCT, GD, GDRZF, GEL, GEOS, GIFI, GMS, GNRC, GOLF, GOOG, GOOGL, HAL, HES, HIMS, HLX, HOLI, HPE, HPQ, HRL, HSY, HUBB, HUBS, IAG, IBKR, IDR, IDT, IFF, IMO, INFA, INSW, INTC, IREN, JBL, KDP, KHC, KLAC, KMI, LAUR, LBRT, LMND, LPG, LPLA, LRCX, LVS, LWAY, LZ, METV, MGM, MITK, MMM, MPC, MRO, MSFT, MSOS, MTDR, MTSI, MU, MUSA, NBIX, NGS, NLR, NOA, NOW, NR, NRG, NSIT, NTNX, NTRA, NUE, NVMI, NXE, OC, ONTO, OXY, PAA, PARR, PGR, PINS, PLAB, PNTG, PPC, PRDO, PRIM, PWP, PXD, QCOM, QFIN, QLYS, RBA, RCL, REGN, RGA, RHP, RMBS, ROAD, RRC, RTX, RYAAY, SA, SHAK, SHEL, SHOP, SLB, SM, SMCI, SMH, SPOT, SQSP, SRUUF, STLD, STNG, TCOM, TDW, TFPM, TK, TKR, TNC, TNK, TNP, TPR, TRAK, TRMD, TS, TSM, TSQ, TTE, TTEK, TTWO, TXRH, UEC, ULTA, URA, URBN, URG, URNJ, URNM, USAC, USAP, USFD, USO, VECO, VERX, VIPS, VITL, VLO, VRTX, VST, VVV, VZ, WDC, WDOFF, WFRD, WING, WIRE, WSO, WYNN, XLC, XLE, XLK, XOM, XOP, YUM

 

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.

EXPORT – Canadian Scanner Results – 2024-04-01

AAUC.TO, AAV.TO, AC.TO, ACOP.V, AEM.TO, AFN.TO, AGF/B.TO, AIF.TO, ALS.TO, AMC.TO, AMD.NE, AMX.V, AOI.TO, APR/UN.TO, ARG.TO, ARX.TO, ASM.TO, ASTL.TO, AVGO.NE, AYR/A.CA, BITF.TO, BMO.TO, BNE.TO, BRAG.TO, BTB/UN.TO, BTE.TO, CCO.TO, CEE.TO, CEU.TO, CF.TO, CHE/UN.TO, CJT.TO, CKG.V, CL.CA, CLS.TO, CNE.TO, CNQ.TO, CNR.TO, CR.TO, CRDL.TO, CRM.NE, CRON.TO, CURA.TO, CVE.TO, DC/A.TO, DHT/UN.TO, DML.TO, DND.TO, DNG.TO, DNTL.TO, DOO.TO, DSG.TO, ECO.TO, EDR.TO, EDV.TO, EFR.TO, ELO.TO, EMX.V, EQX.TO, EU.V, FCU.TO, FEC.TO, FIL.TO, FNV.TO, FR.TO, FRU.TO, FTT.TO, FVI.TO, G.TO, GIL.TO, GMIN.TO, GOLD.TO, GOLD.V, GOOG.NE, GOOS.TO, GRID.TO, GTE.TO, GTII.CA, HWX.TO, IFOS.V, IMCC.CA, IMG.TO, IMO.TO, INTC.NE, IPO.TO, ISO.V, IVN.TO, JAG.TO, KEL.TO, KEY.TO, KTN.V, L.TO, LAAC.TO, LAC.TO, LUG.TO, LUN.TO, MAU.V, MDI.TO, MEG.TO, MKO.V, MKP.TO, MSA.TO, MSFT.NE, MTA.V, MUX.TO, MVRS.NE, MX.TO, NFI.TO, NG.TO, NTR.TO, NUAG.TO, NVA.TO, NXE.TO, OBE.TO, OLA.TO, OSI.V, OVV.TO, PD.TO, PEY.TO, PHX.TO, PIC/A.TO, PLSR.V, PNG.V, POU.TO, PPL.TO, PRU.TO, PRV/UN.TO, PSI.TO, PSK.TO, PTM.TO, QTRH.TO, RAY/A.TO, RBA.TO, RET/A.V, RUP.TO, SCR.TO, SEA.TO, SES.TO, SGY.TO, SHOP.TO, SIL.TO, SOIL.TO, SSRM.TO, SU.TO, SVM.TO, TECK/B.TO, TER.CA, TFPM.TO, TOU.TO, TPZ.TO, TRP.TO, TRUL.CA, TSND.TO, TVE.TO, U/U.TO, U/UN.TO, URC.TO, URE.TO, VERS.NE, VET.TO, VGCX.TO, VLE.TO, VLN.TO, VMC.V, VRNO.NE, VZLA.V, WCP.TO, WDO.TO, WIFI.CA, WJX.TO, X.TO, YGR.TO, ZDC.V

 

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