SYS Research – Daily Report – Monday, March 25, 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

Energy Stocks and Bitcoin Surge While Broader Market Takes a Breather

Energy stocks and Bitcoin-related names took center stage in Monday’s market, driving notable gains, even as the big three indexes experienced a slight downturn in the final 45 minutes of trading, marking the start of a holiday-shortened week.

The S&P 500 has shown remarkable strength, boasting a 9.4% increase year-to-date, positioning itself for its most impressive first-quarter performance since 2019. Historical data reveals that whenever the S&P advances by at least 8% in the first quarter, it typically follows through with a 9.7% gain for the remainder of the year. This trend stretches back to 1950 when the index concluded the year on a higher note 94% of the time.

S&P 500 – Weekly Chart

In Monday’s trading, the Dow Jones Industrial Average dipped by 162 points, equating to a 0.4% decline, while the S&P 500 and the Nasdaq Composite both experienced a 0.3% decrease.

Dow Jones Industrial Average – Daily Chart

S&P 500 – Daily Chart

Nasdaq – Daily Chart

Amidst market movements, the 10-year Treasury yield surged to 4.253%, marking notable activity in the bond market. However, it is still well below the horizontal resistance line.

10-Year US Treasury Yield

Bitcoin demonstrated significant strength, experiencing a powerful breakout from the consolidation pattern identified in the weekend report. This breakout was notably reflected in scanner results, with Bitcoin-related stocks swiftly emerging at the forefront early in the trading day. Such developments were promptly shared within the Slack workspace, underlining the keen interest and momentum surrounding these assets.

Bitcoin – Daily Chart

The Ethereum chart mirrors Bitcoin’s trajectory, with price action breaking out from the consolidation pattern outlined in the weekend report, akin to Bitcoin’s movement. This correlation underscores the similarity in market dynamics between the two cryptocurrencies, emphasizing Ethereum’s resonance with Bitcoin’s patterns, further solidifying investor sentiment.

Ethereum – Daily Chart

US Daily Setups

CLSK – CleanSpark, Inc.

CleanSpark appears to be attempting to break out from a continuation pattern.

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

 

COIN – Coinbase Global Inc.

Coinbase is threatening to break out above its recent high.

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

 

DXCM – DexCom Inc.

DexCom is currently positioning itself below its 52-week high.

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

 

MRK – Merck & Co., Inc.

Merck is attempting to move higher from a bull flag continuation pattern.

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

 

TGT – Target Corp.

Target appears to be attempting to move higher from a flagging pattern.

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

 

TTD – Trade Desk Inc.

Trade Desk is attempting to break out above a line of horizontal resistance.

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

 

Canadian Daily Setups

ENB.TO – Enbridge, Inc.

Enbridge continues to position itself on the right side of a significant consolidation/continuation pattern.

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

 

ETG.TO – Entree Resources Ltd.

Entree Resources continues to set up as it moves higher from the pattern, displaying an intriguing volume over the last 4 weeks.

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

 

GLXY.TO – Galaxy Digital Holdings Ltd.

Galaxy Digital is attempting to break out from a bullish continuation pattern.

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

 

IMG.TO – IAMGold Corp.

IAMGold is currently flagging below its 52-week high.

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

 

PSI.TO – Pason Systems, Inc.

Pason Systems is attempting to break out from a wedge pattern.

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

 

PSK.TO – PrairieSky Royalty Ltd.

PrairieSky Royalty is setting up below its 52-week high.

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

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 – 2024-03-25

AAL, ABNB, ACGL, AFL, AFRM, AGI, AIG, AIZ, ALAR, ALG, ALL, ALSN, AMCR, AMGN, AMP, AMZN, APA, APO, APP, ARE, ARIS, ARKK, AROC, ATEYY, ATR, AU, AVAV, AVY, AZEK, BALL, BBW, BCO, BG, BITO, BITQ, BITW, BKNG, BLOK, BLX, BMA, BMY, BPOP, BRC, BURL, BWMX, BX, C, CACI, CAG, CAMT, CAPL, CASY, CBZ, CCEP, CDLX, CE, CEG, CFG, CGBD, CHRD, CI, CINF, CL, CLBT, CLH, CLSK, CM, CMA, CME, CMG, CNA, CNO, CNX, COIN, COLL, COOP, COP, CPG, CR, CRBG, CRH, CSTM, CSWC, CTLT, CTRA, CTVA, CUBI, CVNA, CVS, CVX, CWCO, DAC, DASH, DCBO, DD, DECK, DELL, DFH, DHT, DIS, DKNG, DOCU, DPZ, DVN, DXCM, E, EG, EGY, EMN, ENLC, ENTG, EOG, EPD, ERJ, ESOA, ETHE, ETRN, EVR, EWBC, EXC, EXP, EXPD, FANG, FBP, FCFS, FCN, FCNCA, FDIG, FI, FINMY, FIS, FOR, FSLR, FTAI, GBDC, GBTC, GBX, GDX, GDXJ, GFF, GIFI, GM, GNRC, GOLF, GPK, GPN, GSK, GVA, HAL, HAS, HBAN, HES, HIG, HLX, HNI, HOLX, HOOD, HPE, HRI, HUBS, IAG, IBCP, IBKR, IIPR, IMO, ING, IOT, IPE, ITRN, IVZ, JBI, JHX, KD, KDP, KEYS, KHC, KKR, KMB, KNF, KNTK, KNTNF, KTOS, L, LLY, LNW, LPX, LRN, LWAY, MAIN, MAMA, MDT, MET, MFC, MGM, MHK, MITK, MO, MRK, MRNA, MRO, MSM, MSTR, MTDR, MTH, MU, MUSA, NATR, NBN, NEE, NEU, NGS, NMIH, NMM, NOG, NOW, NRG, NTAP, NTB, NTRS, NVDA, NVT, NWS, NWSA, NXT, NYT, OIH, OKE, ONTO, OPRA, OR, OSG, OSK, OWL, OXY, OZK, PAA, PAGP, PAY, PBA, PBR/A, PEG, PEP, PFBC, PFG, PGR, PINS, PKG, PLTR, POST, POWW, PPC, PR, PRI, PRU, PSTG, PXD, PYPL, RACE, REX, RF, RGA, RJF, RMD, ROAD, RRC, RYAN, SAIA, SEIC, SHEL, SIGI, SLB, SM, SMCI, SNA, SPB, SQ, SQSP, SSNC, STEP, STLA, STZ, SWAV, SWN, SYM, T, TAP, TBBB, TDW, TENB, TEX, TFPM, TGLS, TGT, THC, TMHC, TMUS, TNK, TNP, TREX, TRGP, TRIN, TRMD, TRV, TS, TSN, TTD, TTE, UBS, UNM, UPBD, UPS, USO, VCTR, VERX, VITL, VNOM, VRRM, VRTX, VST, VZ, WBS, WDC, WEX, WFRD, WGMI, WING, WRB, WRK, WTFC, WWD, XLE, XLU, XOM, XOP, XRX, YPF, ZBRA

 

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 – 2024-03-25

AAV.TO, AC.TO, ACD.TO, AD/UN.TO, AEM.TO, AFN.TO, AGI.TO, AI.TO, AKG.TO, ALA.TO, AMX.V, AMZN.NE, ARG.TO, ARIS.TO, ARTG.V, ARX.TO, ATH.TO, ATX.V, BCT.TO, BDGI.TO, BGI/UN.TO, BK.TO, BTE.TO, BTO.TO, CEU.TO, CF.TO, CFP.TO, CGG.TO, CHE/UN.TO, CHP/UN.TO, CIA.TO, CJ.TO, CM.TO, CNQ.TO, CPG.TO, CPH.TO, CS.TO, CTRL.V, CU.TO, CVE.TO, CVS.NE, D/UN.TO, DFN.TO, DGS.TO, DIS.NE, DIV.TO, DXT.TO, ENB.TO, EQX.TO, ERF.TO, ESI.TO, ETHC.NE, ETHH.TO, FC.TO, FCD/UN.TO, FFN.TO, FORA.TO, FRU.TO, FSZ.TO, FTG.TO, FTN.TO, FTT.TO, FVI.TO, G.TO, GAU.TO, GEI.TO, GFR.TO, GLXY.TO, GRT/UN.TO, GTE.TO, IMG.TO, IMO.TO, IPCO.TO, IPO.TO, KEY.TO, KNT.TO, KRR.TO, L.TO, LBS.TO, LGC.V, LLY.NE, LUG.TO, MAU.V, MDA.TO, MDI.TO, MEG.TO, MFC.TO, MHC/U.TO, MMED.NE, MUX.TO, NNRG.NE, NPK.TO, NVA.TO, NVDA.NE, NXR/UN.TO, OBE.TO, OGC.TO, OR.TO, OVV.TO, PAAS.TO, PAY.TO, PD.TO, PEY.TO, PHX.TO, PMZ/UN.TO, POU.TO, PPL.TO, PRMW.TO, PRV/UN.TO, PSI.TO, PSK.TO, PSLV.TO, PYPL.NE, QBTC.TO, QBTC/U.TO, REI/UN.TO, RSI.TO, SCR.TO, SDE.TO, SGY.TO, SHLE.TO, SIA.TO, SIS.TO, SJ.TO, SOIL.TO, SPB.TO, STLC.TO, SU.TO, TINY.V, TKO.TO, TOU.TO, TPZ.TO, TUO.V, TVE.TO, TXG.TO, VET.TO, VLE.TO, VZ.NE, WCP.TO, WE.V, WEX.V, WFG.TO, WN.TO, WPRT.TO, WSP.TO, XOM.NE

 

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