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.
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SYS Daily Report
Key Indexes Break Above 50-Day Moving Averages Amid Strong Economic Data
The stock market saw a robust session today, with all major indexes climbing above their 50-day moving averages. A solid retail sales report and other positive economic data reinforced the outlook for a soft landing and modest Federal Reserve rate cuts. The rally started strong and gained traction throughout the day.
Today’s market action highlights the potential risks of focusing too much on predicting index movements while overlooking the best setups. By the time the index shows its direction, the prime opportunities may have already passed. Despite the broad market strength, with nine of the 11 S&P 500 sectors closing higher, it was challenging to find tight setups today, as many have already played out.
The Nasdaq Composite jumped to just above its 50-day moving average, with the S&P 500 also clearly moving above this key level. The S&P 500 rose 1.6%, while the tech-heavy Nasdaq Composite advanced 2.3%, marking the largest six-day percentage gain since November 2022. The Dow Jones Industrial Average also performed well, rallying 1.4%.
S&P 500 – Daily Chart
Dow Jones Industrial Average – Daily Chart
This raises the question of whether today’s data may have finally pushed sidelined skeptical money and short sellers into the market, creating a type of exhaustion move. It will be interesting to see if the market needs a breather following this sharp V-shaped recovery from the 200-day moving average. The Nasdaq is now right back at its 50-day line after six consecutive days of gains, and it could potentially pause around this resistance level.
Ideally, from here, the major indexes would drift sideways for a period, holding near or above key resistance levels. This would allow stocks to form new setups, which were notably scarce today. This environment clearly emphasizes risk management. As you review the Nasdaq’s chart, ask yourself, “If this were a stock, would I be eager to buy it here?”
Nasdaq – Daily Chart
Now, let’s move on to today’s setups.
US Daily Setups
BIRK – Birkenstock Holding Ltd.
Birkenstock is attempting to break out as price action touches a new all-time high.
LINK TO CHART – https://schrts.co/ctrDnbpp
CCEP – Coca-Cola Europacific Partners Plc
Coca-Cola Europacific Partners is attempting to move higher from a multi-month consolidation area.
LINK TO CHART – https://schrts.co/QzZsMIRw
COPX – Global X Copper Miners ETF
Many copper miners are showing up in scan results today as the price action of the Global X Copper Miners ETF rebounds from the 200-day moving average, forming a falling wedge bottom pattern.
LINK TO CHART – https://schrts.co/CigCEjWd
GEV – GE Vernova LLC
GE Vernova is touching a new all-time high as price action attempts to break out from an area of consolidation.
LINK TO CHART – https://schrts.co/sxPRzMnv
PLMR – Palomar Holdings, Inc.
Palomar is experiencing an increase in volume as price action consolidates below its 52-week high.
LINK TO CHART – https://schrts.co/pMkbVHEb
TGLS – Tecnoglass Inc.
Tecnoglass is attempting to break out from a significant multi-month consolidation area, supported by an increase in volume.
LINK TO CHART – https://schrts.co/ahZGQVFN
Canadian Daily Setups
AEM.TO – Agnico-Eagle Mines Ltd.
Agnico-Eagle Mines is attempting to continue its uptrend from an area of consolidation as the PPO momentum indicator seeks to perform a bullish cross.
LINK TO CHART – https://schrts.co/CiNpvtbV
DEFI.NE – DeFi Technologies Inc.
DeFi Technologies is attempting to move higher from the apex of a continuation pattern.
LINK TO CHART – https://schrts.co/cpRVysUp
MEG.TO – MEG Energy Corp.
MEG Energy is attempting to rebound from the 200-day moving average, forming a falling wedge bottoming pattern.
LINK TO CHART – https://schrts.co/exEVhmmM
NA.TO – National Bank of Canada
National Bank of Canada is attempting to move higher from a multi-month consolidation/continuation pattern.
LINK TO CHART – https://schrts.co/VEhsPUJN
NWC.TO – North West Co. Inc.
North West Company is attempting to break out to a new high.
LINK TO CHART – https://schrts.co/kiZwIdpI
TKO.TO – Taseko Mines Ltd.
Taseko Mines is rebounding from the 200-day moving average as price action works toward the upper trendline of a falling wedge and horizontal resistance. Monitor for any potential breakout signals.
LINK TO CHART – https://schrts.co/JnppVuZt
To conclude our report, we thank you for your engagement and insights. Your feedback is valuable, 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 – 2024-08-15
A, AAON, AAPL, ABBNY, ABBV, ABCB, ABT, ACA, ACDC, ACGL, ACIW, ACM, ACN, ACVA, ADBE, ADEA, ADI, ADMA, ADP, ADSK, ADUS, AEE, AEM, AER, AEYE, AFL, AGX, AGYS, AIG, AIT, ALAR, ALC, ALKT, ALLE, ALSN, ALTR, AM, AMAL, AMAT, AMCR, AMGN, AMK, AMKR, AMP, AMZN, ANET, ANF, ANIP, ANSS, AON, AORT, AOS, APAM, APH, APO, APOG, APP, APPF, APTV, ARES, ARGX, ARIS, ARLP, ARM, ASML, ASPN, ASTH, ATI, ATO, ATR, AVAV, AVB, AVGO, AVY, AWI, AWK, AXON, AXP, AXS, AXTA, AYI, AZN, AZZ, BAC, BAESY, BALL, BAM, BBVA, BBW, BBY, BCO, BCPC, BCSF, BF/B, BFAM, BHE, BIO, BIRK, BJ, BK, BKNG, BKR, BKU, BLBD, BLK, BLOK, BMA, BMI, BMY, BPOP, BRC, BRK/B, BROS, BSIG, BSX, BURL, BV, BWA, BWIN, BX, BXP, BY, BYRN, BZFD, C, CACI, CAH, CAKE, CAL, CAMT, CARG, CARR, CASH, CASY, CAT, CAVA, CB, CBRE, CBSH, CBT, CBZ, CCB, CCEP, CCS, CDNA, CDRE, CECO, CEG, CFB, CFG, CGBD, CHCO, CHDN, CHKP, CHRW, CHWY, CI, CIB, CIEN, CLBT, CLH, CLS, CLX, CM, CMCSA, CMG, CMI, CNA, CNC, CNM, CNO, CNQ, CNX, CNXN, COF, COKE, COLL, COOP, COPX, CORT, COST, CPAY, CPNG, CPRX, CR, CRBG, CRDO, CRH, CROX, CRS, CRTO, CRUS, CSCO, CSGP, CSL, CSTL, CSV, CTAS, CTLT, CTSH, CTVA, CUBI, CVLG, CVNA, CVS, CW, CWAN, CYBR, CZR, DAVE, DB, DCI, DCO, DD, DECK, DEFTF, DELL, DFIN, DFS, DG, DHI, DHR, DHT, DKS, DLTR, DMLP, DOCU, DOLE, DORM, DOV, DRI, DRS, DSGX, DTM, DUK, DUOL, DVA, DY, E, EA, EAT, EBAY, ECL, EDR, EGO, EGY, EHC, EIX, ELV, EME, EMN, ENLC, ENPH, ENSG, ENVA, EOG, EPAC, EPD, EQH, EQR, ERIE, ERJ, ERO, ESAB, ESEA, ESOA, ESTC, ET, ETN, EVER, EVR, EWBC, EXC, EXEL, EXLS, EXP, EXPE, EXPO, EZPW, FANG, FBP, FCN, FCNCA, FE, FERG, FFIV, FG, FI, FIS, FITB, FIX, FLEX, FLR, FLS, FLUT, FMC, FN, FNF, FORM, FOUR, FRBA, FRHC, FRO, FROG, FRPT, FRT, FSLR, FSS, FSV, FTAI, FTDR, FTI, FTNT, FUTU, GD, GDDY, GDX, GDXJ, GE, GEHC, GEL, GENI, GEV, GFI, GFL, GIL, GILD, GL, GLD, GLRE, GLW, GM, GMS, GNRC, GOLF, GPC, GPI, GPK, GPN, GPS, GRBK, GRMN, GS, GSHD, GSK, GTES, GVA, GWRE, GWW, H, HAL, HALO, HAS, HASI, HAYW, HBAN, HBB, HCA, HD, HEAR, HEI, HESM, HG, HIG, HII, HLI, HLNE, HLT, HMY, HNI, HON, HOOD, HOV, HPE, HPQ, HRB, HSBC, HST, HTBI, HTLF, HUBB, HWKN, HWM, IAG, IBCP, IBKR, IBM, ICFI, ICLR, IESC, IFF, IGV, IHG, IHI, IIPR, IMO, IMXI, INFL, INFY, ING, INOD, INTU, IP, IPG, IQV, IR, ISRG, IT, ITA, ITB, ITGR, ITT, IVZ, IWF, IWM, J, JBHT, JBI, JCI, JEF, JHG, JLL, JNJ, JNPR, JPM, JXN, KB, KBE, KBH, KDP, KEX, KEY, KIM, KKR, KLAC, KMB, KMI, KMPR, KMX, KNF, KNSL, KNTK, KO, KRE, KRYS, KVUE, KVYO, L, LBRT, LDOS, LEN, LGND, LH, LII, LIN, LMAT, LNC, LNG, LNT, LOAR, LOB, LOGI, LOVE, LOW, LPX, LQDT, LRCX, LTH, LYB, LYV, LZB, MA, MAA, MAG, MAIN, MAS, MATX, MBC, MC, MCB, MCD, MCO, MCY, MDT, MELI, MET, META, METV, MFC, MHK, MHO, MIRM, MLI, MLM, MMC, MMM, MMSI, MMYT, MNDY, MNST, MOD, MOG/A, MORN, MPC, MPLX, MPWR, MRNA, MRO, MS, MSCI, MSFT, MSI, MTB, MTCH, MTD, MTG, MTSI, MTX, MU, MUFG, MUSA, MWA, MYGN, MYRG, NBIX, NBN, NCDL, NCNO, NDAQ, NECB, NEM, NFLX, NGS, NGVC, NIC, NKE, NMIH, NMRK, NNE, NOG, NOW, NR, NRG, NSIT, NSSC, NTAP, NTB, NTRA, NTRS, NU, NUE, NVDA, NVMI, NVO, NWPX, NWS, NWSA, NXPI, NYT, ODD, ODFL, OFG, OII, OKE, OKTA, OLED, OLLI, OMC, ON, ONON, ONTO, ORCL, ORRF, OSIS, OTIS, OWL, PAA, PACS, PAGP, PAGS, PAM, PANW, PARA, PATK, PAY, PAYC, PAYX, PBA, PCG, PDD, PEGA, PGR, PH, PHM, PIPR, PJT, PKG, PLD, PLMR, PLNT, PLTR, PM, PNC, PNR, PNTG, PNW, PODD, POWL, PRI, PRIM, PRK, PRMW, PRU, PSTG, PSX, PTGX, PWR, PYPL, QCOM, QCRH, QFIN, QQQ, QRVO, QSR, RACE, RBA, RBC, RBLX, RCL, RDN, RDNT, RDY, REGN, REVG, RF, RGA, RL, RMD, RNR, ROAD, ROL, ROP, ROST, RPM, RS, RSG, RSI, RSP, RTX, RUSHA, RVTY, RYTM, S, SA, SAFE, SAH, SANM, SAP, SBUX, SCCO, SCS, SCVL, SEIC, SEM, SEZL, SF, SFM, SHAK, SHEL, SHOO, SHW, SIL, SILJ, SJM, SKT, SKWD, SKX, SKYW, SLM, SLV, SM, SMFG, SMH, SN, SNA, SNEX, SNX, SPB, SPG, SPGI, SPNS, SPOT, SPSC, SPXC, SPY, SRE, SRPT, SSNC, STEP, STN, STNG, STRL, STT, STX, SUM, SWK, SWKS, SYK, TBBB, TBBK, TCBX, TDG, TDW, TDY, TEL, TEM, TEN, TER, TEVA, TEX, TFC, TFII, TFX, TGLS, TGTX, THC, TIGO, TILE, TJX, TKR, TLN, TMDX, TMHC, TMO, TNC, TNK, TOL, TOST, TPB, TPG, TPL, TPX, TRAK, TRGP, TRMD, TRN, TRNO, TRU, TRV, TSCO, TSLA, TSM, TSN, TT, TTD, TTE, TTEK, TTMI, TWST, TXN, TXRH, TXT, TYL, TZOO, UBER, UFPT, UHS, ULH, UMBF, UNM, UNP, URI, USAP, USB, USFD, USO, UTI, VCTR, VCYT, VECO, VGT, VICI, VIST, VLTO, VMC, VNOM, VRRM, VRSN, VRT, VSEC, VST, VTRS, WAB, WABC, WAL, WAT, WBA, WBD, WCN, WDC, WFC, WHD, WING, WIX, WM, WMB, WMT, WPM, WRB, WSO, WTFC, WYNN, XHB, XLB, XLC, XLE, XLF, XLI, XLK, XLP, XLU, XLV, XLY, XYL, YOU, YPF, YUM, ZBRA, ZETA, ZTS, 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 – 2024-08-15
AAPL.NE, AAV.TO, ABRA.V, ACB.TO, ACO/X.TO, AD/UN.TO, ADBE.NE, ADEN.TO, AEM.TO, AFN.TO, AIF.TO, ALS.TO, AMRQ.V, AMX.V, AMZN.NE, AP/UN.TO, APM.V, ARE.TO, ARG.TO, ARIS.TO, ARTG.V, ARX.TO, ASCU.TO, ASTL.TO, ATD.TO, ATD/A.TO, ATH.TO, ATRL.TO, ATX.V, ATZ.TO, AVGO.NE, AX/UN.TO, BAM.TO, BAM/A.TO, BBD/B.TO, BDGI.TO, BDI.TO, BDT.TO, BEI/UN.TO, BEP/UN.TO, BEPC.TO, BIP/UN.TO, BIPC.TO, BIR.TO, BN.TO, BNS.TO, BPF/UN.TO, BRK.NE, BRM.V, BTB/UN.TO, BTE.TO, CAD.V, CAR/UN.TO, CAS.TO, CCL/B.TO, CEU.TO, CGX.TO, CHE/UN.TO, CHP/UN.TO, CIX.TO, CJ.TO, CJT.TO, CLS.TO, CM.TO, CMG.TO, CNL.TO, CNQ.TO, COST.NE, CPX.TO, CRR/UN.TO, CRT/UN.TO, CS.TO, CSCO.NE, CTC/A.TO, CTS.TO, CU.TO, CVE.TO, CVS.NE, CXB.TO, DBM.TO, DCBO.TO, DEFI.NE, DF.TO, DFN.TO, DFN/PA.TO, DFY.TO, DGS.TO, DIR/UN.TO, DNG.TO, DOL.TO, DOO.TO, DPM.TO, DRM.TO, DSG.TO, DXT.TO, E.TO, EFX.TO, EIF.TO, EIT/UN.TO, ELD.TO, ELE.V, EMA.TO, EMP/A.TO, ENGH.TO, EQB.TO, EQX.TO, ERO.TO, ESI.TO, ETG.TO, EXE.TO, FC.TO, FEC.TO, FFH.TO, FFN.TO, FIL.TO, FM.TO, FN.TO, FSV.TO, FSZ.TO, FTN.TO, FTS.TO, FTT.TO, FVI.TO, FWZ.V, GASX.V, GDV.TO, GFL.TO, GIB/A.TO, GIL.TO, GIP.V, GLXY.TO, GOT.V, GRT/UN.TO, GWO.TO, HBM.TO, HD.NE, HPS/A.TO, IFC.TO, IGM.TO, ILLM.TO, IMG.TO, IMO.TO, IPCO.TO, IVN.TO, JAG.TO, JWEL.TO, KEL.TO, KITS.TO, KSI.TO, L.TO, LB.TO, LCS.TO, LFE.TO, LUN.TO, MAG.TO, MAU.V, MDI.TO, MDNA.TO, MEG.TO, META.NE, MFC.TO, MI/UN.TO, MKO.V, MKP.TO, MND.TO, MRG/UN.TO, MRU.TO, MSFT.NE, MTL.TO, MVRS.NE, NA.TO, NCI.V, NFI.TO, NFLX.NE, NG.TO, NGD.TO, NGEX.TO, NGT.TO, NKE.NE, NTR.TO, NVA.TO, NVDA.NE, NVEI.TO, NWC.TO, NXR/UN.TO, OGI.TO, OLA.TO, OSI.V, OTEX.TO, PD.TO, PEY.TO, PHX.TO, PHYS.TO, PLUR.V, PMET.TO, PMZ/UN.TO, PNG.V, POU.TO, POW.TO, PPL.TO, PPTA.TO, PRL.TO, PRMW.TO, PRYM.TO, PSK.TO, PSLV.TO, PTI/UN.TO, PTK.V, PYPL.NE, PZA.TO, QBR/B.TO, QSR.TO, RAY/A.TO, RBA.TO, RBX.V, RCH.TO, REAL.TO, REI/UN.TO, RML.V, RUS.TO, RY.TO, SBUX.NE, SCR.TO, SDE.TO, SEA.TO, SEI.V, SES.TO, SFTC.TO, SGML.V, SGR/UN.TO, SHLE.TO, SHOP.TO, SJ.TO, SKE.TO, SLF.TO, SLS.TO, SOIL.TO, SRU/UN.TO, STN.TO, SU.TO, SVI.V, SXP.TO, TA.TO, TCL/A.TO, TCW.TO, TD.TO, TECK/B.TO, TER.CA, TF.TO, TFII.TO, TFPM.TO, THNC.TO, TIH.TO, TKO.TO, TLRY.TO, TNT/UN.TO, TOI.V, TOU.TO, TOY.TO, TRP.TO, TRUL.CA, TSLA.NE, TSND.TO, TVE.TO, TVK.TO, UBER.NE, URB/A.TO, URC.TO, VLE.TO, VNP.TO, VZLA.V, WCN.TO, WCP.TO, WEED.TO, WELL.TO, WFG.TO, WMT.NE, WN.TO, WPM.TO, WRN.TO, WSP.TO, WTE.TO, X.TO
