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 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
Stocks Rally Amid Geopolitical Tensions: Defense Stocks Surge, Earnings Season Begins, and Inflation Reports Loom
Stocks rebounded from early losses on Monday, demonstrating resilience in the face of geopolitical concerns tied to Israel’s offensive against Hamas. This ongoing conflict had a notable impact on oil prices and bolstered the performance of defense stocks, including industry stalwarts such as General Dynamics, L3Harris Technologies, and Northrop Grumman. These names featured prominently in today’s scanner results.
The broader market indices painted a positive picture, with the S&P 500 posting a solid 0.6% gain, while the Nasdaq Composite added 0.4%. The Dow Jones Industrial Average also saw a healthy rise of 0.6%, equivalent to a 197-point increase.
This week carries particular significance for the financial markets as major banks commence reporting their third-quarter earnings. These earnings reports will offer a critical glimpse into the health of the financial sector and broader economic conditions.
Furthermore, investors will closely monitor two key inflation reports this week: the producer price index (PPI) on Wednesday and the consumer price index (CPI) on Thursday. These reports will be scrutinized for any indications that could influence the Federal Reserve’s future decisions regarding interest rates. Inflation trends hold substantial sway over the central bank’s monetary policy, and any unexpected deviations from expectations could spark market volatility.
As the week unfolds, it’s clear that both geopolitical events and economic data will significantly shape market sentiment and guide investment strategies. Stay tuned for more developments and analysis in the coming days.
US Daily Setups
AXON – Axon Enterprise, Inc.
Axon is positioning itself on the right side of a significant basing pattern. Monitor closely for a continuation of upside momentum that may potentially lead to a breakout.
LINK TO CHART – https://schrts.co/kacKPenN
CDNS – Cadence Design Systems, Inc.
Cadence Design Systems is currently approaching the underside of the trigger line which could potentially lead to a new all-time high. Monitor closely for a breakout.
LINK TO CHART – https://schrts.co/bazYwmMi
CDRE – Cadre Holdings Inc.
Cadre is now breaking out from the setup that we’ve been highlighting.
LINK TO CHART – https://schrts.co/HqeGApvP
DUOL – Duolingo Inc.
Duolingo is now attempting to break out from the pattern that we’ve been highlighting.
LINK TO CHART – https://schrts.co/PFujwRpx
LYTS – LSI Industries, Inc.
LSI Industries is attempting to trend higher from its significant basing pattern.
LINK TO CHART – https://schrts.co/hRnppJxm
PANW – Palo Alto Networks Inc.
Palo Alto Networks is now at the underside of the trigger line, that could potentially lead to a new all-time high. Monitor closely for a breakout.
LINK TO CHART – https://schrts.co/EJYfUXsR
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.
