Notice: The Daily Report is provided for informational and educational purposes only and is not intended to be used as a stock-picking service or as financial advice. The charts and accompanying research are designed to support your analysis, serving as indicators rather than direct recommendations to buy or sell any security. The creator assumes no responsibility for actions taken by readers and strongly encourages individuals to fully understand the associated risks and potential outcomes before making investment decisions. Please note that any charts and/or information are intended to aid in research and should not be considered a definitive part of your personal trading strategy. Not all charts will lead to actionable buy or sell signals at any given time. Individuals should consider consulting a qualified financial advisor before making any investment decisions.
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Sample Trading System
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SYS Daily Report
Stock Market Retreats Amid Labor Market Anticipation
Major stock markets stepped back from record highs on Thursday, as investors shifted focus to upcoming labor market data expected on Friday. After Wednesday’s rally, which pushed indices to new peaks, trading momentum faltered amid cautious optimism about the near-term outlook for equities.
The Dow Jones Industrial Average fell 248 points or 0.6%, closing below its recent milestone of 45,000. The S&P 500 and the tech-heavy Nasdaq Composite slipped by 0.2% each. Small-cap stocks saw sharper declines, with the Russell 2000 tumbling 1.3%, reflecting underperformance in speculative and risk-sensitive assets.
Nasdaq – Daily Chart
S&P 500 – Daily Chart
Dow Jones Industrial Average – Daily Chart
Russell 2000 (ETF) – Daily Chart
Investors are eyeing the Labor Department’s November jobs report, which is expected to show the U.S. economy added 200,000 jobs, compared to just 12,000 in October, due to hurricane disruptions and strikes. The unemployment rate is projected to rise to 4.2% from 4.1%, and average hourly earnings growth may cool to 3.9% year-over-year. These figures will likely influence the Federal Reserve’s policy decision next week, with markets pricing in a 70% chance of a quarter-point rate cut according to CME FedWatch data.
Sector Performance and Market Movers
Among the Dow’s biggest losers were UnitedHealth Group (UNH), down 5.2%, and Salesforce (CRM), which dropped 1.8%, contributing to significant declines in the index. By contrast, 3M (MMM) and Merck (MRK) outperformed, each rising 2.2%.
Key sectors of the S&P 500 saw mixed performances. Materials, industrials, and healthcare lagged, while consumer discretionary, staples, and energy posted modest gains. Notable standouts included Tesla (TSLA), which surged 3.2% to a two-year high, buoyed by a Bank of America price target increase to $400 on expectations for advancements in robotaxi and robotics technologies.
TSX Hits All-Time High
In Canada, the TSX Composite Index reached a new record high, rising 0.2% to close at 25,680.04, buoyed by gains in financials and energy stocks. The index benefited from a 4.4% jump in Canadian Imperial Bank of Commerce (CM.TO) shares and a 4.2% increase in Bank of Montreal (BMO.TO) shares, following better-than-expected quarterly results. However, Toronto-Dominion Bank (TD.TO) shares plunged 7.1% after issuing a cautious 2025 outlook and highlighting ongoing remediation efforts related to a U.S. regulatory probe.
The heavily weighted energy sector climbed 0.8%, recovering from the prior session’s losses, as OPEC+ announced a delay in its planned production increase until April 2025. Meanwhile, Canada’s unemployment rate rose to 6.5% in October, contributing to expectations that the Bank of Canada may cut rates further in its upcoming policy meeting.
TSX – Daily Chart
Bitcoin Retreats After Briefly Topping $100,000
Cryptocurrency markets saw historic activity as Bitcoin briefly surpassed the $100,000 mark on Wednesday night, a milestone driven by optimism over potential regulatory changes under President-elect Donald Trump. However, Bitcoin later retreated, closing Thursday at $99,137.34, down from its earlier highs of $103,900. Stocks linked to cryptocurrency mirrored the volatility, with MicroStrategy (MSTR) declining 4.8% and Coinbase Global (COIN) falling 3.1% after touching record highs earlier in the session.
Outlook for Investors
Markets remain in an upward trend, supported by a combination of improving economic indicators and expectations for easier monetary policy. However, the extended valuations of major indices, such as the S&P 500 being 3.6% above its 50-day moving average and the Nasdaq at 5.5% above, highlight the need for diligent risk management.
With speculative stocks like Tesla and Nvidia (NVDA) leading the charge, some investors may face tough decisions on whether to take profits or hold for longer-term gains. As Friday’s employment report looms, it is crucial to maintain a balanced portfolio strategy while staying alert to shifting market conditions.
“The market is neutral. It doesn’t know you exist, and you don’t influence it. You are responsible for what you perceive and how you act.” – Mark Douglas
Now, onto the daily setups.
US Daily Setups
CAVA – Cava Group Inc.
Cava Group appears to be setting up below new highs.
LINK TO CHART – https://schrts.co/IQPBEeVn
CCJ – Cameco Corp.
Cameco appears to be setting up for a potential 52-week high breakout. Note how the upward-sloping moving average is forming the lower trendline of the continuation pattern.
LINK TO CHART – https://schrts.co/HWFCIZvI
SLV – iShares Silver Trust
The iShares Silver Trust ETF continues to set up below a significant horizontal resistance line.
LINK TO CHART – https://schrts.co/BMRSkhBV
TIGR – UP Fintech Holding Ltd.
UP Fintech appears to be consolidating in the form of a potential continuation wedge.
LINK TO CHART – https://schrts.co/pudHdunp
UEC – Uranium Energy Corp.
Uranium Energy appears to be setting up below its 52-week high.
LINK TO CHART – https://schrts.co/WAxagfyF
YMM – Full Truck Alliance Co Ltd.
Full Truck Alliance is attempting to break out with robust volume.
LINK TO CHART – https://schrts.co/abFufjMe
Canadian Daily Setups
CCO.TO – Cameco Corp.
Cameco appears to be setting up for a potential 52-week high breakout. Note how the upward-sloping moving average is forming the lower trendline of the continuation pattern.
LINK TO CHART – https://schrts.co/vTREFeXj
GMIN.TO – G Mining Ventures Corp.
G Mining Ventures is now starting to push above the upper trend line of the recently highlighted continuation pattern.
LINK TO CHART – https://schrts.co/AvhKYzbn
NXE.TO – NexGen Energy Ltd.
NexGen Energy appears to be setting up below its 52-week high.
LINK TO CHART – https://schrts.co/FASRSEew
PPTA.TO – Perpetua Resources Corp.
Perpetua Resources appears to be breaking out from a consolidation area, supported by robust volume.
LINK TO CHART – https://schrts.co/uIxNatEz
PSLV.TO – Sprott Physical Silver Trust
The Sprott Physical Silver Trust ETF continues to set up below a significant horizontal resistance line.
LINK TO CHART – https://schrts.co/DGikmmci
SLS.TO – Solaris Resources Inc.
Solaris Resources appears to be set up below a significant horizontal resistance line.
LINK TO CHART – https://schrts.co/vTPQrHgn
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.
US Watchlist Scan – 2024-12-05
SOUN, QBTS, BBW, SEI, ABIT, KULR, AUR, TATT, BF/B, CADL, EDN, SERV, BBAI, SNBR, RBLX, IONQ, BCRX, PPTA, ESOA, QUAD, PDEX, GME, TEO, ROOT, BTDR, SUPV, NEOV, IDT, CINT, U, CM, UEC, XERS, TIGR, TKO, APLD, PDCO, GLNG, BBVA, TZOO, MNSO, LFVN, PRTH, GGAL, JKS, REAX, BMA, QUBT, RKLB, FUBO, SIL, VOD, EE, IRS, NOK, IBN, FRHC, EXFY, TSLA, CAAS, UAL, CANG, RIVN, CRESY, SHAK, EFXT, BITW, CRNC, VNET, SRTS, BOW, JETS, KNTK, YMM, PLTR, CLS, GPOR, KGS, VRT, HRL, TIGO, DB, BBAR, COKE, CCJ, UTI, PWP, HUT, DTM, NWPX, DAL, GNSS, CNA, DUOL, AENT, RGTI, GTES, CKPT, MMM, TBBB, MRK, KMI, UFCS, LGND, CMG, DOCS, TFC, ERIC, CIB, LUV, PRQR, CRDO, CYBN, RBRK, TDS, GILD, CAVA, CDRE, VEON, KINS, BRBR, YUMC, LPX, CAG, CHEF, REGN, CDE, CEPU, TRDA, TSM, H, SYY, IHG, BHR, DCO, BCS, NWG, BK, WDOFF, USM, BTI, ETON, RZLT, SGMO, PM, BMI, ARGT, AROC, DAKT, INFY, NMRK, HSBC, MCD, EAT, FWONA, TRGP, HST, JNPR, HNST, APP, BLK, EXPE, ARMK, WIT, BAP, BFH, DSP, ASA, KYN, ROST, ETR, RVLV, TROW, BAC, BLX, KR, ANET, CCEP, CLX, PVBC, SLF, TW, BGNE, BR, OKE, T, VRRM, WAY, STT, CME, GLW, PSFE, X, FHI, MSFT, TPB, FFIV, PTON, VIST, LPLA, PAM, KMX, ROK, AMZN, AXS, KDP, PRU, DXPE, PFGC, NTRS, SEIC, SJM, ALLT, ERJ, VRSN, SAFE, CASY, C, SRV, KMB, FITB, LNG, MAR, TTWO, FHB, HERO, BX, UBS, CMRE, PLNT, RDW, RNR, WMT, CSTL, MORN, QTUM, AM, BKNG, BNS, EQIX, JPM, URA, JEF, DAVE, TLN, OR, WES, XLY, BMY, MFC, MO, AMT, MKC, PFIE, NUKZ, BANX, HTD, AR, FOXA, SAP, CGBD, CMPO, EXEL, NFLX, CEG, LOMA, LULU, ESQ, CB, BURL, MA, VITL, EIX, TTMI, VMC, AMP, PLBY, CENX, CSCO, AA, NMR, OPK, CFLT, MAGS, ONON, PAAS, CCB, LKQ, NEXN, MET, VMEO, CIFR, LBTYA, SHOP, VVX, APO, FLUT, HBAN, TRV, UNM, CMCSA, LNTH, RCL, ATEN, CINF, TGLS, EXLS, FSV, HLT, IBM, NDAQ, HES, HL, PG, RNGR, BAM, FOX, GDXJ, BV, HIG, CHTR, IBKR, DMLP, TCOM, BRK/B, DFS, EBAY, ET, USFD, EHC, CTLT, KNTNF, TNL, AIZ, DCTH, HCKT, RELX, VRNA, AGNC, FNKO, SND, TRI, INCY, METV, XLP, FTV, PLYA, PNW, PWR, GRMN, LFT, NYT, BDX, IBTA, SCHW, SW, PGR, AXON, HBI, K, NRG, TMUS, TWLO, NPO, DOYU, TJX, TME, TTEK, ADBE, SKE, ADSK, RERE, WB, XLU, EDR, OWL, XLF, CNK, LBTYK, OMCL, WBD, CW, FTNT, MTG, CWK, DPG, FPH, IEX, AIG, CRS, MAIN, SBGI, TPG, PPL, TVTX, USB, YPF, KIM, SPG, TLT, XEL, ARTX, CRWD, CTSH, EQBK, GDDY, CFB, CG, KNSL, MCY, PFSI, SHO, SILJ, VOYA, DKNG, LBRDA, OSPN, TRMB, ZTR, SYF, PKG, RL, TSN, ADT, DLR, LBRDK, ARES, CRBG, CTRA, MBLY, MPLX, SNEX, SLV, TEVA, WAB, HASI, L, POOL, HESM, NI, OMF, SRE, WTTR, CMI, ATGE, CALM, NOW, BPOP, MAS, EVRG, PAYC, EQH, AAPL, AZO
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 – 2024-12-05
MDNA.TO, XX.V, HODL.CA, URC.TO, BLDP.TO, TRZ.TO, DTOL.TO, TA.TO, TER.CA, TSND.TO, FDR.V, GOLD.TO, PPTA.TO, GEI.TO, HBFG.CA, VEGN.CA, CPX.TO, URE.TO, FM.TO, AUMC.CA, APM.V, CM.TO, CGX.TO, WGX.TO, AIDX.TO, DRDR.TO, BMO.TO, IFX.V, FORA.TO, SLS.TO, III.TO, NOA.TO, BBD/B.TO, TH.TO, TSLA.NE, PRU.TO, L.TO, MEQ.TO, TVE.TO, WILD.TO, KSI.TO, NDA.V, CLS.TO, EFX.TO, TOT.TO, DML.TO, PEY.TO, RSI.TO, COV.V, CFW.TO, CCO.TO, GMIN.TO, WN.TO, IAG.TO, HUT.TO, ETG.TO, RY.TO, ATS.TO, AC.TO, SVI.TO, NXE.TO, ELE.V, ECOR.TO, NGEX.TO, SES.TO, ATZ.TO, LCS.TO, LFE.TO, DGS.TO, SU.TO, ARIS.TO, TOI.V, IVN.TO, LBS.TO, AYA.TO, HBM.TO, VBNK.TO, OLA.TO, SIL.TO, BOIL.CA, CFP.TO, WSP.TO, FOM.TO, MSFT.NE, RUP.TO, WDO.TO, CHR.TO, AMZN.NE, FIH/U.TO, ACX.TO, SLF.TO, DS.TO, AGF/B.TO, EMA.TO, TSL.TO, ARX.TO, FFH.TO, DF.TO, MKP.TO, SEI.V, ATRL.TO, CCA.TO, H.TO, FNV.TO, ENS.TO, FTN.TO, POW.TO, MRU.TO, CYBN.NE, OTEX.TO, BK.TO, PRL.TO, SIA.TO, SSRM.TO, CSH/UN.TO, MFI.TO, MDI.TO, KEY.TO, BNS.TO, BIP/UN.TO, MFC.TO, TCW.TO, LULU.NE, SBC.TO, HAI.TO, KNT.TO, RUS.TO, BRK.NE, MTL.TO, MND.TO, EXE.TO, ORA.TO, BDI.TO, WFG.TO, NFLX.NE, ENB.TO, FSZ.TO, ALA.TO, IGM.TO, AIM.TO, DPM.TO, PAAS.TO, WJX.TO, CAE.TO, CHP/UN.TO, FC.TO, ONEX.TO, CU.TO, OR.TO, HPS/A.TO, HWX.TO, WTE.TO, FCR/UN.TO, SHOP.TO, FFN.TO, PMZ/UN.TO, T.TO, BAM.TO, PKI.TO, FSV.TO, KUT.V, MX.TO, DFY.TO, FTS.TO, QBTC.TO, CTC/A.TO, SKE.TO, SRU/UN.TO, ADBE.NE, LUN.TO, VET.TO, DLCG.TO, LIF.TO, FIL.TO, CEU.TO, IFC.TO, LUG.TO, EFN.TO, NVA.TO, AFN.TO, TRI.TO, TFII.TO, AAPL.NE, PSU/U.TO
