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.
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Sample Trading System
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SYS Daily Report
Markets Maintain Momentum Amidst Tech Declines Ahead of Inflation Data
In Monday’s trading session, a surge in various stocks counterbalanced the dip in major technology shares, ensuring stability in the primary indices as anticipation builds for forthcoming inflation statistics. The three leading stock benchmarks reached new highs for 2023, marking the extension of the S&P 500’s six-week winning streak.
S&P 500
Nasdaq Composite
Dow Jones Industrial Average
The Dow Jones Industrial Average witnessed a gain of 157 points, equivalent to a 0.4% increase, mirroring the S&P 500’s identical rise. Meanwhile, the Nasdaq Composite experienced a more modest advance of 0.2%. Noteworthy milestones were achieved as the Dow closed at 36,404, the S&P 500 at 4,622, and the Nasdaq at 14,432, all representing 2023 record highs.
Significant strides were observed in the chip equipment sector, prominently featuring Lam Research, KLA, ASML, and Applied Materials. The positive sentiment within the group was further fueled by UBS maintaining a buy rating on Micron Technology, accompanied by an upward revision of its price target from 76 to 90. The analyst cited a recovering memory chip market and the potential for optimistic guidance when Micron reports next week, a notable development given Micron’s substantial role as a chip gear purchaser. Additionally, Broadcom experienced a 9% rally following Citi’s $1,100 price target issuance. AMD’s continued breakout and the inclusion of the SMH ETF in our report’s setups section further underscored the sector’s robust performance.
The market’s attention turns to the Labor Department’s Consumer Price Index (CPI), scheduled for release at 8:30 am ET on Tuesday. Expectations are for the CPI to remain unchanged for November, with an annual increase of 3.1%. Core prices in November are anticipated to exhibit a 0.3% month-on-month increase, contributing to an annual rise of 4%. Investors are closely monitoring these figures as they navigate the intricate landscape of market trends and economic indicators.
In the immortal words of legendary investor William J. O’Neil, “The whole secret to winning big in the stock market is not to be right all the time, but to lose the least amount possible when you’re wrong.” This philosophy seamlessly guides us into our daily setups section, emphasizing the significance of identifying opportunities, particularly those associated with new high breakouts. Just as O’Neil advocates minimizing losses when the market doesn’t align with our expectations, our daily setups focus on pinpointing potential winners showing signs of potential momentum. However, if a breakout signal doesn’t work, a stop-loss is triggered, adhering to systematic rules to ensure prudent risk management in our pursuit of successful trading strategies.
US Daily Setups
ACLS – Axcelis Technologies, Inc.
Axcelis Technologies has consolidated tightly at the apex of a wedge pattern, testing the recent breakout line, coinciding with a significant volume by price bar on the left side of the chart. Additionally, observe the bullish surge in the last two days. Keep a close eye on the setup for a potential breakout.
LINK TO CHART – https://schrts.co/dfScPIRG
AMD – Advanced Micro Devices, Inc.
The AMD setup displays continued upside strength, with price action breaking out to a new 52-week high.
LINK TO CHART – https://schrts.co/bayCavry
FTDR – frontdoor, inc.
front door is consolidating within a tight range on the right side of a notable basing pattern, positioned below recent highs. Keep a close watch for potential upside momentum that could pave the way for a breakout.
LINK TO CHART – https://schrts.co/BGAxHeDy
GNE – Genie Energy Ltd.
The Genie Energy setup persists in breaking out to yet another 52-week high, this time emerging from the bull flag continuation pattern we previously highlighted. Notably, the stock has nearly doubled since the initial breakout we identified around $16.
LINK TO CHART – https://schrts.co/VfwCdEcp
SMH – VanEck Vectors Semiconductor ETF
The VanEck Vectors Semiconductor ETF is breaking out from a substantial multi-month base, reaching a new 52-week high as the sector gains momentum.
LINK TO CHART – https://schrts.co/ZQBDXcTP
TGT – Target Corp
Target seems to be gearing up for a potential multi-year breakout, forming a falling wedge continuation pattern. Keep an eye on the setup for potential upward momentum.
LINK TO CHART – https://schrts.co/BAUehThn
Canadian Daily Setups
AMD.NE – Advanced Micro Devices Inc. – Canadian Depository Receipt
The AMD weekly chart, viewed through the Canadian CDR ticker, reveals a notable breakout on a weekly timeframe. It’s worth noting that the AMD daily chart was featured in the US setup section of today’s report.
LINK TO CHART – https://schrts.co/NMSHMMKv
CTS.TO – Converge Technology Solutions Corp.
Converge Technology is witnessing bullish volume as price action seeks to break out from a substantial bottoming base and a bullish pennant continuation pattern. Keep a close watch for potential upward momentum.
LINK TO CHART – https://schrts.co/tWkmKsAP
DSG.TO – The Descartes Systems Group, Inc.
The Descartes Systems is breaking out once again to another new 52-week high, following a bull flag retest of the previous (recent) breakout.
LINK TO CHART – https://schrts.co/rGbrHyBb
FFH.TO – Fairfax Financial Holdings Ltd.
Fairfax Financial is consolidating within a continuation pattern below new highs. Keep a close watch for a potential continuation of the uptrend.
LINK TO CHART – https://schrts.co/uMsSMvEB
OTEX.TO – Open Text Corp.
Open Text seems to be forming a bull flag continuation pattern on the right side of a notable basing pattern situated below new highs and a trigger line. Keep a eye for a potential breakout.
LINK TO CHART – https://schrts.co/ZxdbVRaZ
TOI.V – Topicus.com Inc.
Topics is still in the process of setting up below a trigger line. Keep a watchful eye for a potential breakout.
LINK TO CHART – https://schrts.co/JURCsYyh
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 – 2023-12-11
AAON, ABBNY, ABBV, ABNB, ABT, ACA, ACIW, ACMR, ACN, ADEA, ADI, ADM, ADP, ADSK, AEO, AEP, AER, AES, AFL, AFRM, AGO, AIG, AIR, AIT, AJG, ALG, ALK, ALL, ALLE, ALPN, ALSN, ALTR, AMAL, AMAT, AMD, AME, AMGN, AMP, AMWD, ANET, ANF, ANSS, AON, APG, APH, APOG, ARES, AROC, ASML, ATEYY, ATR, AVGO, AVY, AX, AXON, AYI, AZO, BA, BAESY, BAH, BALL, BAX, BBWI, BBY, BCO, BELFB, BIIB, BK, BKNG, BLK, BLKB, BLX, BRK/B, BRO, BSX, BUR, BVN, BWXT, CAH, CAMT, CARG, CARR, CASH, CB, CBRE, CCAP, CCOI, CDAY, CDNS, CDW, CECO, CENT, CENTA, CGBD, CHD, CHKP, CHRD, CI, CIEN, CINF, CL, CLH, CLS, CMCSA, CME, CMG, CMI, CMPR, CMS, CNA, CNC, CNM, CNO, CNP, COF, COKE, COLL, COR, COST, CPB, CPRT, CRBG, CRC, CRH, CRL, CRM, CRT, CRVL, CRWD, CSAN, CSGP, CSL, CSTM, CSWI, CSX, CTAS, CTSH, CTVA, CVS, CVX, CW, CWAN, D, DASH, DB, DBX, DCBO, DCI, DD, DECK, DELL, DFH, DGX, DHI, DHR, DKNG, DLB, DLO, DLTR, DMLP, DOV, DOW, DPZ, DRS, DSGR, DSGX, DTE, DUK, DV, DVN, DY, EA, EADSY, EAT, EBAY, ECL, ED, EFX, EIX, ELTK, EME, ENTG, EPAC, EPAM, EQNR, ERIE, ERJ, ES, ESAB, ESE, ESS, ETN, ETR, ETSY, EW, EXC, EXP, EXPD, EXPE, F, FA, FAST, FCFS, FCX, FDS, FDX, FE, FERG, FFIV, FI, FIVE, FIX, FLR, FLS, FLT, FN, FNF, FOX, FROG, FRSH, FRT, FSS, FTAI, FTDR, FTNT, FTV, FUTU, FWRG, GBDC, GCT, GEHC, GFF, GGG, GIB, GIII, GILD, GLOB, GLP, GLRE, GLW, GNE, GOLF, GPI, GPN, GPS, GS, GVA, GWW, H, HAYN, HBAN, HCA, HD, HEES, HEI, HIBB, HIG, HII, HLNE, HLT, HMC, HMY, HOLI, HON, HOV, HPE, HPQ, HQY, HRB, HRI, HST, HUBB, HWKN, HWM, HY, IBCP, IBKR, IBM, IBN, IBOC, IBP, ICE, ICLR, IDT, IDXX, IESC, IEX, IGIC, IHG, IHI, IIPR, INCY, INFA, INVH, IP, IPAR, IPG, IQV, IR, IRM, ISRG, IT, ITA, ITB, ITGR, ITT, ITW, IVZ, IWF, JBHT, JCI, JNPR, JOE, JPM, KDP, KEY, KEYS, KHC, KKR, KLAC, KO, KOF, KRT, KTOS, L, LECO, LEN, LHX, LII, LIN, LKQ, LMB, LMND, LMT, LNG, LNT, LOGI, LOPE, LRCX, LRN, LSEA, LULU, LW, LYV, MA, MAR, MAS, MBC, MBIN, MBLY, MBWM, MCD, MCHP, MCK, MCO, MDB, MDLZ, MDT, MELI, MET, MGM, MGRC, MITK, MLM, MLR, MMC, MMYT, MNST, MOD, MOS, MPWR, MS, MSI, MSM, MTB, MTD, MTRN, MTSI, MU, NBIX, NEU, NFLX, NHC, NI, NKE, NLR, NMIH, NOC, NOG, NOV, NOW, NPO, NSIT, NTES, NTNX, NU, NUE, NVMI, NVR, NVT, NWSA, NX, NXE, NXPI, NXT, O, OBDC, OC, OLED, OMC, ON, ONTO, ORCL, ORLY, OSIS, OSK, OTEX, OTIS, OVLY, PANW, PARA, PARR, PATH, PATK, PAYX, PBA, PBR, PCAR, PCG, PEAK, PEG, PETQ, PFG, PFGC, PGR, PGTI, PH, PINS, PKG, PLAB, PLD, PLUS, PM, PNR, PNTG, PNW, POOL, POWL, PPG, PPL, PR, PRI, PRIM, PRU, PSA, PSX, PTC, PWR, QCOM, QLYS, QQQ, QRVO, QSR, RACE, RBC, RCL, REG, REGN, RELX, REVG, RF, RGA, RHI, RHP, RJF, RL, RMBS, RMD, ROAD, ROCK, ROK, ROL, ROP, ROST, RPM, RS, RSG, RSP, RTX, RUSHA, S, SBUX, SCHW, SFM, SHW, SJM, SKX, SMAR, SMH, SN, SNA, SNAP, SNOW, SNPS, SNX, SPG, SPGI, SPSC, SPXC, SPY, SRE, SRUUF, SSD, STLD, STRL, STT, STX, SUM, SWK, SWKS, SXC, SYF, SYK, TAP, TDG, TDY, TEAM, TEL, TER, TFC, TGS, TGT, THR, TJX, TMO, TMUS, TNET, TOL, TPR, TRAK, TRNS, TSCO, TSM, TT, TWLO, TXN, TXT, TYL, UBER, UEC, UHS, UPBD, UPWK, URBN, URI, USB, USFD, V, VFC, VGT, VICI, VIPS, VLGEA, VLTO, VMC, VOYA, VRNS, VRRM, VRSK, VRSN, VRT, VRTX, VSEC, VTR, VTS, WAT, WBA, WDAY, WDC, WEC, WELL, WHR, WIRE, WM, WMG, WMS, WRK, WSO, WTFC, WTW, XEL, XHB, XLB, XLF, XLI, XLK, XLP, XLU, XLV, XLY, XME, XYL, YELP, YUM, ZBRA, ZTS
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 – 2023-12-11
ACT.CA, ALS.TO, AMD.NE, ARG.TO, ASCU.TO, ATS.TO, BAM.TO, BAM/A.TO, BB.TO, BBUC.TO, BDT.TO, BEI/UN.TO, BEP/UN.TO, BEPC.TO, BIP/UN.TO, BMO.TO, BN.TO, BRK.NE, BYD.TO, CAR/UN.TO, CAS.TO, CCL/B.TO, CFX.TO, CIA.TO, CJP.NE, CJT.TO, CLS.TO, CMI.V, CNC.V, CNR.TO, COST.NE, CSU.TO, CSW/A.TO, CTS.TO, DBM.TO, DCBO.TO, DF.TO, DFN/PA.TO, DNTL.TO, DRX.TO, DSG.TO, ECN.TO, EDR.TO, EFN.TO, ENB.TO, ET.TO, FAR.TO, FEC.TO, FFH.TO, FFN.TO, FN.TO, GIB/A.TO, GIP.V, GLO.TO, GRA.TO, GRT/UN.TO, GSY.TO, GWO.TO, H.TO, IAG.TO, IFC.TO, IPCO.TO, KITS.TO, L.TO, LCS.TO, LFE.TO, LMN.V, LUN.TO, MDA.TO, MDI.TO, MFC.TO, MG.TO, MGRO.CA, MI/UN.TO, MOGO.TO, MRE.TO, MTA.V, MX.TO, NA.TO, NFLX.NE, NTMC.CA, NXE.TO, OTEX.TO, POU.TO, PPL.TO, PRMW.TO, PSI.TO, PTO/UN.TO, QSR.TO, RAY/A.TO, RCH.TO, RS.TO, SES.TO, SJ.TO, SLF.TO, SXP.TO, TCL/A.TO, TIXT.TO, TNZ.TO, TOI.V, TROY.CA, TRP.TO, TSL.TO, U/UN.TO, UBER.NE, URB/A.TO, VHI.TO, WCN.TO, WEB.V, WED.V, WN.TO, WPM.TO, WRN.TO, X.TO
