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.
Sample Trading System
The following trading system is presented as an educational example and should not be interpreted as financial advice. Past performance does not guarantee future results, and trading involves inherent risks. Please consult with a qualified financial advisor before implementing any trading strategies.
SYS Daily Report
Navigating Market Volatility: The Impact of Powell’s Words and Global Factors
Stocks closed higher today, yet price action remains contained by the 50-day moving average. The market appears to be eagerly awaiting Federal Reserve Chair Jay Powell’s speech on Wednesday, recognizing its potential to sway market sentiment. As discussed in the weekend report, market direction appears closely tied to interest rate movements, evidenced today when stocks briefly dipped after the Treasury Department announced plans to borrow $243 billion from private investors, $41 billion more than anticipated. However, these declines were short-lived and quickly reversed. Concurrently, China’s decision to sell bonds amidst sanctions on Russia has reduced natural buyers for U.S. debt, contributing to upward pressure on interest rates. Coupled with inflation, the Fed faces a challenging dilemma, amplifying the importance of Wednesday’s meeting. With price action persistently below the 50-day moving average across all indexes, Powell’s words may either propel prices above this threshold, signaling a continuation of the uptrend or reaffirm the ‘sell in May and go away’ adage, potentially ushering in a period of seasonal weakness. Therefore, it is crucial to closely monitor market reactions.
The Dow Jones Industrial Average gained 147 points, or 0.4%, while the S&P 500 rose by 0.3%. Additionally, the Nasdaq Composite increased by 0.4%.
Dow Jones Industrial Average – Daily Chart
S&P 500 – Daily Chart
Nasdaq – Daily Chart
The 10-year Treasury yield fell to 4.614%.
10-Year US Treasury Yield
I know I’ve used this quote before, but it feels particularly relevant at this juncture in the market as we approach the Fed’s statements. As Charles Darwin famously said, ‘It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change.’ Now, let’s move on to the daily setups.
US Daily Setups
DGX – Quest Diagnostics Inc.
Quest Diagnostics appears to be set up below the upper trendline and horizontal resistance of a significant multi-year consolidation/continuation pattern. Monitor closely for any potential breakout signals.
LINK TO CHART – https://schrts.co/uXSSjcNq
LPG – Dorian LPG Ltd.
Dorian LPG continues to set up below a horizontal resistance line. Keep a close eye on price action for any potential breakout signals.
LINK TO CHART – https://schrts.co/nMJhyMNg
MSOS – AdvisorShares Pure US Cannabis ETF
The AdvisorShares Pure US Cannabis ETF is appearing on scan results as price action sets up in the form of a potential bullish flag. Keep a close watch for a confirmation breakout of this pattern, which could signal upward momentum.
LINK TO CHART – https://schrts.co/bjVtaniM
NTR – Nutrien Ltd.
Nutrien appears to be setting up on the right side of a significant multi-month bottoming pattern. Stay alert for potential confirmation of this setup, which could indicate a bullish reversal.
LINK TO CHART – https://schrts.co/cYJvyCgZ
URA – Global X Uranium ETF
The Global X Uranium ETF is now breaking out from the bullish flag pattern near the apex of a larger consolidation pattern highlighted in the weekend report. Watch for any signs of continued upside momentum, which could lead to a breakout.
LINK TO CHART – https://schrts.co/iaWigjGD
URNJ – Sprott Junior Uranium Miners ETF
The Sprott Junior Uranium Miners ETF is rebounding from the lower trendline of a significant multi-month consolidation/continuation triangle. Watch for any continuation of upside strength that could potentially lead to a breakout.
LINK TO CHART – https://schrts.co/fducvtWx
Canadian Daily Setups
ARX.TO – ARC Resources Ltd.
ARC Resources is set up for a potential bullish flag continuation pattern breakout. Keep a close eye on the price action for confirmation of this setup and a potential upward momentum.
LINK TO CHART – https://schrts.co/ueyDzkfS
CIA.TO – Champion Iron Ltd.
Champion Iron appears to be setting up for a potential falling channel breakout, positioned below a significant horizontal resistance line identified by the large volume by price bar on the left side of the chart. Monitor closely for continued upside strength, which could lead to a breakout.
LINK TO CHART – https://schrts.co/qCASDpFW
CJT.TO – Cargojet Inc.
Cargojet is attempting to break out from the recently highlighted technical pattern. Keep a close watch for confirmation of this breakout.
LINK TO CHART – https://schrts.co/qTMKNnDH
CMG.TO – Computer Modelling Group Ltd.
Computer Modelling Group is now starting to move higher from the consolidation pattern we’ve been highlighting. Watch its price action for potential confirmation of this upward movement.
LINK TO CHART – https://schrts.co/kuSnpKPD
DML.TO – Denison Mines Corp.
Denison Mines is breaking out from the pattern featured in the weekend report. Monitor closely for confirmation of this breakout.
LINK TO CHART – https://schrts.co/KTrtUSSW
NTR.TO – Nutrien Ltd.
Nutrien appears to be setting up on the right side of a significant multi-month bottoming pattern. Stay alert for potential confirmation of this setup, which could indicate a bullish reversal.
LINK TO CHART – https://schrts.co/SABeDbme
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 – 2024-04-29
A, AAON, ABBNY, ACGL, ADI, AEE, AEL, AEM, AEO, AEP, AER, AES, AFL, AFRM, AGI, AIG, AIR, AIZ, ALAB, ALB, ALRM, AMAT, AMCR, AMD, AMGN, AMP, AMT, AMWD, ANF, APG, APH, APOG, ARE, ARES, ARLO, ASTH, ATI, ATO, ATR, AU, AWI, AXON, AXP, AZEK, AZO, BA, BABA, BAESY, BAH, BALL, BAND, BAX, BBVA, BBW, BCO, BCSF, BIIB, BKR, BLD, BMA, BR, BUR, BVN, BWA, BWXT, BXP, BZ, CAG, CAL, CAMT, CARR, CASY, CAVA, CB, CBOE, CCEP, CDLX, CDRE, CDW, CE, CEG, CF, CGBD, CHD, CHRW, CI, CIVI, CLX, CMI, CMS, CNO, CNP, CNX, COLL, COOP, COPX, CPAY, CPB, CPG, CPNG, CRBG, CROX, CRVL, CSWC, CSWI, CTLT, CTRA, CTVA, CVLT, CVX, CW, D, DAC, DAL, DASH, DCI, DE, DEFTF, DELL, DFH, DFIN, DFS, DGX, DHR, DMLP, DNN, DOCN, DOW, DRS, DTE, DUK, DUOL, DVA, DVN, E, EAT, EBAY, ED, EGY, EHC, EIX, ELMD, EME, ENLC, ENSG, ENTG, ENV, EOG, EPAC, EPD, EQT, ERJ, ERO, ES, ESOA, ET, ETN, ETR, ETRN, EVRG, EWBC, EXC, EXP, EXPD, EXPE, EXR, FBP, FCN, FCX, FE, FIHL, FINMY, FITB, FIX, FLEX, FLS, FMC, FN, FOX, FRPT, FRT, FSLR, FSS, FTAI, FTI, FWRG, GBDC, GDX, GDXJ, GE, GEHC, GEO, GEV, GFI, GIFI, GLP, GLW, GM, GMS, GNTX, GPC, GPK, GPOR, GRBK, GRMN, GS, H, HAL, HAYW, HBAN, HCC, HD, HEI, HES, HII, HMY, HNI, HOLX, HOV, HRB, HRL, HSY, HTGC, HUBS, HWKN, HWM, IAG, IBKR, IBOC, IBP, IDXX, IESC, IFF, IHI, IIPR, IMO, INCY, INSP, INSW, INTU, IP, ITA, ITB, ITT, IWM, J, JBI, JCI, JETS, JKHY, K, KAI, KB, KBH, KEYS, KGC, KHC, KIM, KLAC, KMB, KMI, KNF, KNTK, KO, KOF, KOP, L, LAUR, LBRT, LDOS, LEN, LEVI, LHX, LINC, LLY, LMAT, LMB, LMT, LNT, LPG, LPLA, LRCX, LRN, MAA, MAIN, MDLZ, MDT, MEDP, MET, METC, METV, MFC, MHK, MHO, MKC, MLI, MLR, MMM, MMYT, MNDY, MNST, MO, MOS, MPC, MPWR, MRNA, MS, MSI, MSOS, MTD, MTDR, MTSI, MUSA, MYRG, NATR, NBIX, NCLH, NDSN, NEE, NET, NI, NLR, NMIH, NOC, NOG, NRG, NRP, NS, NSIT, NTAP, NTNX, NTRA, NVDA, NVEI, NXE, NXPI, O, OC, ODP, OIH, OKE, ONTO, OTTR, OWL, OXY, PAA, PAAS, PAGP, PATK, PAYC, PBA, PBR/A, PCAR, PCG, PEG, PEP, PG, PH, PHM, PIPR, PKG, PLAB, PLMR, PLTR, PM, PNR, PNW, PODD, POST, POWW, PPC, PPG, PPL, PR, PRIM, PRMW, PRU, PSA, PXD, PYPL, QCOM, QFIN, QRVO, QUIK, RBA, RBC, RCL, RDNT, REVG, REX, RF, RGA, RNR, ROCK, RPM, RSG, RSP, RTX, RUM, RVTY, SA, SANM, SBAC, SCCO, SCS, SDRL, SF, SFM, SHAK, SII, SKX, SMCI, SMH, SMR, SN, SNX, SO, SOUN, SPG, SPSC, SPXC, SQ, SRE, SSD, SSNC, STEP, STLA, STLD, STZ, SUM, SUN, SWK, SWKS, SWN, SYK, SYY, T, TDW, TEL, TER, TFC, TFPM, TGLS, THC, TK, TKR, TMDX, TMO, TMUS, TNC, TOL, TPR, TPX, TRAK, TRGP, TRIN, TRMB, TRNS, TSCO, TSLA, TSM, TSN, TTEK, TXN, TXRH, TYL, UAL, UDR, UEC, UFPT, UHS, UNM, URA, URG, URI, URNJ, URNM, USB, USFD, VECO, VIST, VLO, VLTO, VMC, VNT, VRT, VSEC, VST, VTR, VTRS, VTSI, VZ, WAT, WEC, WELL, WEST, WFRD, WHD, WM, WMG, WMT, WRK, WSM, WSO, WWD, XHB, XLB, XLE, XLI, XLP, XLRE, XLU, XLV, XLY, XME, XOP, XYL, YPF, YUM, ZBH, ZBRA, ZWS
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 – 2024-04-29
ABX.TO, AC.TO, AEM.TO, AFM.V, AFN.TO, AGI.TO, AIF.TO, AKG.TO, ALA.TO, AMD.NE, AOI.TO, AQN.TO, ARIS.TO, ARX.TO, ASCU.TO, ATZ.TO, AX/UN.TO, AYR/A.CA, BAMR.TO, BB.TO, BDT.TO, BFM.V, BHC.TO, BIR.TO, BLDP.TO, BNRE.TO, BOS.TO, BTE.TO, CDR.TO, CEU.TO, CF.TO, CHE/UN.TO, CIA.TO, CJ.TO, CJT.TO, CL.CA, CMG.TO, CNQ.TO, CPG.TO, CR.TO, CRE.V, CSH/UN.TO, CU.TO, CURA.TO, CVE.TO, CVO.TO, CXB.TO, DBM.TO, DCBO.TO, DFY.TO, DIV.TO, DML.TO, DNG.TO, DOL.TO, DOO.TO, DPM.TO, DR.TO, E.TO, EDV.TO, EFN.TO, EFR.TO, EFX.TO, EIT/UN.TO, ELD.TO, EMA.TO, ENB.TO, EQ.V, ERO.TO, ESI.TO, EU.V, EXE.TO, FCU.TO, FEC.TO, FFH.TO, FN.TO, FNV.TO, FRU.TO, FTN.TO, FTS.TO, FTT.TO, GCL.TO, GEI.TO, GH.TO, GIL.TO, GLXY.TO, GOLD.TO, GOLD.V, GOOS.TO, GSY.TO, GTE.TO, GUD.TO, GWO.TO, H.TO, HBM.TO, HMM/A.TO, HOM/U.TO, HTL.TO, IFC.TO, IMG.TO, IMO.TO, IPCO.TO, IPO.TO, ISO.V, IVN.TO, K.TO, KEL.TO, KEY.TO, L.TO, LAAC.TO, LABZ.NE, LEV.TO, LIF.TO, LUG.TO, LUN.TO, MAU.V, MDA.TO, MEG.TO, MFC.TO, MFI.TO, MKO.V, MX.TO, NG.TO, NGD.TO, NTR.TO, NVA.TO, NVDA.NE, NVEI.TO, NWC.TO, NWH/UN.TO, NXE.TO, OBE.TO, ODV.V, OGC.TO, OR.TO, OSI.V, OSK.TO, PAAS.TO, PAY.TO, PBH.TO, PD.TO, PET.TO, PEY.TO, PIC/A.TO, PKI.TO, PLC.TO, POU.TO, PPL.TO, PRQ.TO, PSI.TO, PSK.TO, PTK.V, PVT.V, PXT.TO, PYPL.NE, RBA.TO, RCH.TO, SEA.TO, SEI.V, SES.TO, SFTC.TO, SGD.V, SGY.TO, SIA.TO, SII.TO, SIL.TO, SKE.TO, SLI.V, SPB.TO, SSL.TO, STEP.TO, STLR.TO, SU.TO, SUNN.CA, TECK/B.TO, TER.CA, TFPM.TO, TIXT.TO, TKO.TO, TNZ.TO, TOU.TO, TPZ.TO, TRUL.CA, TSLA.NE, TSND.TO, TVE.TO, TXG.TO, U/U.TO, U/UN.TO, VET.TO, WED.V, WRG.TO, WTE.TO, X.TO
