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
Tech-Driven Rally Propels Stocks Higher: AI Optimism Resumes and Labor Report Anticipation
Stocks resumed their ascent on Thursday, propelled by the robust performance of major technology companies, the driving force behind this year’s market dynamics. Tech shares spearheaded the market surge, with Alphabet and AMD leading the charge, breaking a three-day losing streak. The impetus behind this upswing was a surge in optimism surrounding artificial intelligence (AI), particularly fueled by Google’s well-received AI launch. Parent company Alphabet witnessed a remarkable uptick of over 5%, while Advanced Micro Devices claimed the top spot as the S&P 500’s best performer.
Nasdaq Composite
S&P 500
The S&P 500 recorded a gain of 0.8%, closing near its yearly peak, while the tech-heavy Nasdaq Composite surged by 1.4%. The Dow Jones Industrial Average posted a more modest gain of 0.2%.
Further contributing to the tech sector’s strength was a swift decline in Treasury yields, enhancing the perceived value of future profits for tech companies. The yield on the 10-year Treasury note remained relatively stable at 4.129%, compared to Wednesday’s 4.121%.
Looking ahead to tomorrow morning, the Labor Department is set to release the employment report at 8:30 a.m. ET. Economists anticipate a net gain of 180,000 jobs, including 150,000 in the private sector. The unemployment rate is expected to hold steady at 3.9%, while average hourly wage growth is projected to dip to 4%, compared to the previous year.
While today’s rally propelled major indexes close to their 52-week highs, they have yet to surpass crucial horizontal resistance lines we’ve been monitoring. A healthy market pause, as discussed in yesterday’s report, is still pending. Despite this, various stocks have either consolidated or retraced to critical levels in recent days. As emphasized before, attempting to predict index movements can lead to a false bias, potentially causing investors to overlook prime setups that may catch them off guard, as observed in today’s accelerated upward movement. Therefore, it’s essential to maintain an active watchlist and be prepared for unforeseen shifts, steering clear of predictive biases. Echoing the sentiment of the CMT, our strategy should be responsive to price movements rather than relying on predictions. Now, let’s delve into the daily setups.
US Daily Setups
ABNB – Airbnb Inc.
The Airbnb setup is now pushing against the next level of horizontal resistance. Pay attention to the volume by price bar on the left side of the chart. Monitor for a potential breakout above this level as a continuation of the uptrend.
LINK TO CHART – https://schrts.co/scJptdzs
AMD – Advanced Micro Devices, Inc.
AMD has seen a surge in bullish volume today as price action broke out from a bull flag continuation pattern. Monitor for confirmation and signs of sustained upward momentum.
LINK TO CHART – https://schrts.co/gWNxJeKp
GOOGL – Alphabet Inc.
Alphabet is setting up below 52-week highs on the right side of a consolidation pattern. Monitor for potential breakout confirmation and signs of upward momentum.
LINK TO CHART – https://schrts.co/CCfAMbui
REGN – Regeneron Pharmaceuticals, Inc.
Regeneron is set up on the right side of a giant multi-year basing pattern, located below new all-time highs. Monitor for potential breakout confirmation and signs of upward momentum.
LINK TO CHART – https://schrts.co/jSkCyPNQ
SNOW – Snowflake Inc.
Snowflake continues to set up on the right side of a significant bottoming base. Monitor for a potential breakout as the weekly PPO momentum indicator accelerates higher above the zero line.
LINK TO CHART – https://schrts.co/eXTMncjh
WFC – Wells Fargo & Co.
Wells Fargo is setting up below a major horizontal resistance line as price action starts to push higher from a consolidation triangle. Monitor for a continuation of upside strength that may lead to a potential breakout.
LINK TO CHART – https://schrts.co/EkmVRSJi
Canadian Daily Setups
ALA.TO – AltaGas Ltd.
The AltaGas setup continues to show upside strength as the price threatens to break out from its significant basing pattern. Monitor for confirmation and signs of sustained momentum.
LINK TO CHART – https://schrts.co/VCysaGqe
AMD.NE – Advanced Micro Devices Inc. – Canadian Depository Receipt
AMD, featured on the weekly chart using the Canadian CDR, shows a significant horizontal resistance line that could lead to a new significant high. Monitor for a continuation of upside strength.
LINK TO CHART – https://schrts.co/guQeqeiV
BDT.TO – Bird Construction Inc.
Bird Construction is attempting to trend higher from a bullish pennant continuation pattern located below 52-week highs. Monitor for potential confirmation and signs of sustained upward momentum.
LINK TO CHART – https://schrts.co/XPzjvfud
BITF.TO – Bitfarms Ltd.
Bitfarms is threatening to break out from a significant bottoming base with robust volume. Monitor for potential confirmation and signs of sustained upward momentum.
LINK TO CHART – https://schrts.co/bmvyirBt
GOOG.NE – Alphabet Inc – Canadian Depository Receipt
Alphabet, as viewed on the Canadian CDR weekly chart, shows price action setting up below a significant horizontal resistance line going back multiple years. Monitor for a breakout to a new 52-week high, suggesting a continuation of the recent uptrend.
LINK TO CHART – https://schrts.co/ZxJGzbMS
H.TO – Hydro One Limited
Hydro One Limited is breaking out from a bull flag continuation pattern, positioned not too far from its 52-week high. Monitor for confirmation and potential continuation of the uptrend.
LINK TO CHART – https://schrts.co/nzmCRZPx
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 – 2023-12-07.xlsx
A, AAL, AAON, AAPL, ABBV, ABNB, ACA, ACM, ADI, ADSK, AEO, AEP, AER, AES, AFL, AFYA, AGI, AIG, AIT, ALB, ALG, ALPN, ALTR, AMAT, AMCR, AMD, AMGN, AMNB, AMWD, AMZN, ANET, AOS, APO, ARE, ARES, AROC, ATR, AVGO, AVY, AWI, AYI, AZUL, BAX, BBWI, BCC, BCO, BCSF, BEN, BFST, BIIB, BITW, BKNG, BLKB, BLX, BRC, BSX, BTBT, BXP, CAG, CAPL, CARG, CASH, CBAY, CCEP, CCL, CCOI, CCS, CDNS, CDW, CE, CEIX, CENT, CENTA, CF, CFG, CGBD, CHD, CHKP, CIEN, CL, CLH, CLS, CLW, CMA, CMI, CMS, CNP, COKE, COLL, COOP, CORZQ, COST, CPB, CQP, CRBG, CRH, CRL, CSL, CSTM, CSWC, CSWI, CTSH, CUK, CVLT, CVS, CW, DAL, DASH, DBX, DCBO, DCI, DFH, DFS, DGHI, DHI, DLB, DLTR, DMLP, DPZ, DSGR, DUK, DXCM, EC, ECL, ED, EGY, EIX, EME, EMN, EPAM, ERIE, ERJ, ESE, ESS, ETHE, ETR, EXP, EXPE, EXR, FA, FAST, FCNCA, FDX, FERG, FIX, FLR, FLS, FLT, FN, FNF, FOR, FROG, FSS, FSV, FWRG, GBDC, GD, GDYN, GEL, GIB, GIII, GIS, GLD, GLNCY, GLP, GM, GOOG, GOOGL, GPI, GPN, GPS, GRC, GTLB, GVA, H, HDSN, HEES, HEI, HII, HIVE, HLNE, HLT, HNI, HOV, HPQ, HRB, HRI, HSBC, HST, HUBB, HWKN, IBOC, IDT, IDXX, IESC, IFF, IHG, IIPR, ILMN, INFA, ING, IP, IPAR, ISRG, IT, ITGR, IVZ, JBHT, JBL, JCI, JNPR, K, KBH, KDP, KEYS, KHC, KNF, KO, KOF, KVUE, LAUR, LEN, LFMD, LII, LSEA, LULU, LUV, LYV, MA, MAIN, MAR, MBIN, MBLY, MBWM, MCHP, MDLZ, MEDP, META, METV, MLR, MMYT, MOH, MSA, MSM, MTD, MTH, MTRN, MTSI, MU, NBIX, NCLH, NEM, NEU, NI, NPO, NTB, NUE, NVDA, NVR, NVT, NWSA, NXE, NXPI, OEC, OFG, OMC, ON, ONTO, ORCL, OSK, PAM, PANW, PATK, PAX, PAYX, PCG, PEAK, PGR, PGTI, PHM, PKG, PNR, PODD, POOL, POWL, PPG, PRDO, PRU, PSA, PTC, PWR, PWSC, QCOM, QRVO, RAMP, RCL, RDNT, REGN, REVG, RF, RHP, RJF, RL, RMBS, ROAD, ROCK, RPM, RWAY, RYAAY, SEE, SFM, SHW, SJM, SMAR, SMLR, SNX, SO, SPG, SRUUF, STE, STLD, STN, STT, STX, SUM, SUN, SWK, SWKS, SXC, SYF, SYK, SYY, TAP, TBBK, TDY, TEL, TFC, TFX, TGS, THR, TM, TMHC, TMUS, TNC, TOL, TPR, TRNS, TS, TSLA, TSM, TSN, TSQ, TTEK, UBER, UEC, UPBD, UPS, URA, URBN, URI, URNJ, V, VICI, VLGEA, VMC, VOYA, VRRM, VSEC, VST, WAT, WBA, WDAY, WDC, WELL, WFC, WING, WMG, WRK, WSO, WTS, XEL, XP, YELP, YPF, YY, ZION, ZS
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 – 2023-12-07.xlsx
AAPL.NE, ABBV.NE, ABXX.NE, AC.TO, ACO/X.TO, ACT.CA, AFN.TO, AGI.TO, AKE.TO, ALA.TO, AMD.NE, AMZN.NE, AP/UN.TO, ARR.TO, ASCU.TO, ASTL.TO, AW/UN.TO, AYR/A.CA, BAM.TO, BBD/B.TO, BCE.TO, BDGI.TO, BDT.TO, BEP/UN.TO, BEPC.TO, BIG.V, BIPC.TO, BITF.TO, BLN.TO, BLX.TO, BMO.TO, BOS.TO, CAR/UN.TO, CCA.TO, CCL/B.TO, CHP/UN.TO, CIG.TO, CIGI.TO, CJT.TO, CLS.TO, CM.TO, CMG.TO, CNR.TO, COST.NE, CPLF.TO, CRDL.TO, CRON.TO, CS.TO, CTS.TO, CU.TO, CURA.CA, CVS.NE, DCBO.TO, DFN/PA.TO, DIR/UN.TO, DIS.NE, DML.TO, DNTL.TO, DOL.TO, DRX.TO, DTOL.TO, ECN.TO, EIF.TO, EIT/UN.TO, EMA.TO, EQB.TO, ERE/UN.TO, ET.TO, ETHC.NE, ETHH.TO, ETL.V, EXE.TO, FC.TO, FCU.TO, FFH.TO, FIL.TO, FR.TO, FSV.TO, GIB/A.TO, GOOG.NE, GOOS.TO, GRT/UN.TO, GSY.TO, GTII.CA, H.TO, HITI.V, HIVE.V, HOM/U.TO, IAG.TO, IIP/UN.TO, IPCO.TO, IVN.TO, KEY.TO, KXS.TO, L.TO, LBS.TO, LIF.TO, LUG.TO, MATR.TO, MDA.TO, MDI.TO, MI/UN.TO, MR/UN.TO, MTL.TO, MVRS.NE, NA.TO, NBLY.TO, NFI.TO, NGD.TO, NOU.V, NTR.TO, NWC.TO, NXE.TO, NXR/UN.TO, ORA.TO, ORL.TO, PET.TO, PKI.TO, PLC.TO, PRL.TO, PRMW.TO, PRQ.TO, PSD.TO, PSI.TO, PTI/UN.TO, PTK.V, PTO/UN.TO, PZA.TO, QBR/B.TO, RCH.TO, RCI/B.TO, RUS.TO, RY.TO, SAP.TO, SGD.V, SOIL.TO, STN.TO, SVI.TO, T.TO, TF.TO, TFPM.TO, TIH.TO, TOY.TO, TRP.TO, TRUL.CA, TRZ.TO, TSLA.NE, TXP.TO, U/UN.TO, UBER.NE, VRNO.NE, WJX.TO, WN.TO, WSP.TO
