SYS Research – Daily Report – Thursday, February 22, 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: 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.

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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

Nasdaq Approaches Record High After Nvidia’s AI Earnings Boost

In a notable 3% surge, the Nasdaq Composite nearly reached a record high on Thursday, propelled by Nvidia’s latest earnings report, heightening excitement in the artificial intelligence sector. Simultaneously, the S&P 500 and Dow Jones Industrial Average achieved record closes, with the S&P rising by 2.1%, and the Dow gaining approximately 457 points (1.2%). A historic moment unfolded as the Dow closed above 39,000 for the first time. Notably, trading volume increased on both the Nasdaq and the New York Stock Exchange from Wednesday’s session, indicating robust institutional participation. The S&P and the Dow showcased a significant launch from their 21-day exponential moving averages, adhering to systematic rules. This provides evidence that such rules effectively filter out market noise from pundits predicting tops and erratic momentum indicators during trends.

Nasdaq – Daily Chart

S&P 500 – Daily Chart

Dow Jones Industrial Average – Daily Chart

The yield on the 10-year Treasury note edged up to 4.326% on Thursday following the Labor Department’s report that jobless claims, a key proxy for layoffs, decreased last week. This data added fuel to the recent bond selloff, driven by a series of strong economic reports.

10-Year US Treasury Yield

In conclusion, a successful trader is not someone who is right all the time, but one who can manage their risk effectively and adapt to the ever-changing market conditions. As Alexander Elder wisely put it, ‘The goal of a successful trader is to make the best trades. Money is secondary.’ With this principle in mind, let’s delve into our daily setups section.

US Daily Setups

AZEK – AZEK Company Inc

AZEK Company is attempting to trend higher from a bullish pennant continuation pattern.

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

 

MSOS – AdvisorShares Pure US Cannabis ETF

The AdvisorShares Pure US Cannabis ETF is set up in the form of a potential bull flag continuation pattern.

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

 

MSTR – MicroStrategy Inc.

MicroStrategy is performing a potential bull flag retest of the recent breakout.

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

 

NET – Cloudflare Inc.

Cloudflare is set up in the form of a potential bull flag continuation pattern.

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

 

ODFL – Old Dominion Freight Line, Inc.

Old Dominion Freight Line appears to be set up on the right side of a multi-month consolidation pattern located just below its new all-time high.

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

 

PSX – Phillips 66

Phillips 66 is attempting to trend higher from a bull flag continuation pattern located below all-time highs.

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

 

Canadian Daily Setups

AEP.V – Atlas Engineered Products Ltd.

Atlas Engineered Products continues to exhibit upside strength.

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

 

CM.TO – Canadian Imperial Bank Of Commerce

CIBC is attempting to trend higher from its recently highlighted bull flag continuation pattern.

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

 

ENB.TO – Enbridge, Inc.

Enbridge is attempting to move higher from a wedge pattern.

 

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

 

NOA.TO – North American Construction Group Ltd

North American Construction Group appears to be attempting to move higher from a flagging pattern after consolidating along the recent breakout line.

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

 

TRUL.CA – Trulieve Cannabis Corp.

Trulieve Cannabis is set up in the form of a potential bull flag continuation pattern.

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

 

XEG.TO – iShares S&P/TSX Capped Energy Index ETF

The iShares S&P/TSX Capped Energy Index ETF appears to be breaking out from a significant continuation pattern, reflecting the strength in energy stocks lighting up our scanner results.

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

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 – 2024-02-22

AAL, AAON, AAPL, ABBNY, ABBV, ABNB, ABT, ACA, ACGL, ACIW, ACM, ACMR, ACN, ADP, AEL, AEO, AFL, AFYA, AGM, AGO, AIG, AIT, AIZ, AJG, ALGN, ALL, ALPN, ALSN, ALTR, ALV, AM, AMAT, AMD, AME, AMP, AMR, AMWD, AMZN, ANET, ANF, AON, APAM, APG, APH, APO, APP, APPF, ARCH, ARKK, AROC, ASML, ASND, ASR, ATEYY, ATI, ATKR, ATR, AVDX, AVGO, AVY, AWI, AXON, AXP, AYI, AZEK, AZZ, BAH, BAM, BBY, BCSF, BG, BIIB, BITO, BITQ, BITW, BK, BKNG, BLBD, BLD, BLK, BLOK, BLX, BMY, BR, BRK/B, BRKR, BRO, BRZE, BSX, BTU, BUR, BVN, BWXT, BYRN, C, CAH, CAMT, CARG, CASY, CAT, CB, CBRE, CBT, CBZ, CCAP, CCI, CCOI, CDNS, CDRE, CDW, CEG, CEIX, CELH, CENT, CENTA, CF, CFL, CGBD, CHD, CHE, CHRW, CHTR, CIEN, CINF, CL, CLS, CLSK, CM, CME, CMG, CMI, CMPR, CNA, CNC, CNM, CNXN, COIN, COLL, COR, COST, CPA, CR, CRH, CRL, CRM, CRS, CRSP, CSL, CSTM, CSWI, CSX, CTAS, CTRA, CTSH, CTVA, CUBI, CVLT, CVNA, CXT, DAC, DAL, DAY, DDOG, DECK, DEFTF, DELL, DFH, DFIN, DHR, DHT, DKS, DOCN, DOV, DOW, DPZ, DRI, DTM, DVA, DY, EA, EADSY, EAT, EBAY, EC, ECL, EFX, EG, EL, ELF, EME, EMN, ENLC, ENSG, EPAC, EPAM, EQIX, EQT, ESTC, ETHE, ETN, ETR, EVR, EW, EWBC, EXP, EXPE, FA, FAST, FBIN, FBP, FCFS, FCN, FDIG, FERG, FFIV, FI, FICO, FIS, FIVE, FIX, FLEX, FLUT, FN, FRO, FROG, FRPT, FSS, FSV, FTAI, FTI, FTV, FWRG, GBDC, GBTC, GBX, GCT, GD, GDYN, GE, GEHC, GEN, GFF, GGG, GIB, GL, GLW, GMS, GNTX, GOLF, GPC, GPK, GRBK, GS, GSK, GVA, GWW, H, HCA, HD, HDSN, HEI, HES, HESM, HIG, HLNE, HLT, HLX, HMC, HOLX, HON, HOOD, HPQ, HQY, HRB, HRI, HSIC, HST, HSY, HTGC, HUBB, HURN, HWKN, HWM, IBKR, IBM, IBN, IBOC, IBP, ICE, ICFI, ICLR, IDT, IDXX, IESC, IEX, IHG, IHI, IMO, INCY, INSW, INTU, IPG, IQV, IR, IRM, ISRG, IT, ITA, ITB, ITRI, ITT, ITW, IWF, IWM, J, JBHT, JBL, JCI, JHX, JKHY, JNJ, JOE, JPM, K, KAI, KBH, KEX, KEY, KHC, KKR, KLAC, KMB, KNSL, KNTK, KOP, KR, KRT, KWR, L, LAKE, LBRT, LDOS, LECO, LEN, LII, LIN, LKQ, LLY, LMND, LNW, LOGI, LOW, LPG, LPLA, LRCX, LW, LYB, LYV, MA, MAIN, MANH, MAR, MARA, MAS, MCD, MCK, MCO, MDB, MDLZ, MEDP, MELI, META, METC, METV, MFC, MKC, MLM, MMC, MO, MOD, MOH, MORN, MPC, MRK, MRNA, MRO, MSCI, MSFT, MSI, MSM, MSOS, MSTR, MTB, MTRN, MTSI, MU, MUSA, MYRG, NBIX, NDAQ, NDSN, NET, NEU, NFLX, NHC, NICE, NMM, NPO, NSSC, NTB, NTNX, NTRA, NU, NUE, NVDA, NVMI, NVO, NVS, NVT, NWS, NWSA, NX, ODFL, OKE, ONTO, ORLY, OSG, OSIS, OXY, PAGP, PAM, PATK, PAYX, PBA, PCAR, PEGA, PFBC, PFG, PFGC, PG, PGR, PKG, PLMR, PLUS, PNR, PNTG, PODD, POWL, PPG, PR, PRI, PRIM, PRU, PSN, PSTG, PSX, PTC, PWP, PWR, PXD, QQQ, RACE, RBA, RBC, RBLX, RDNT, RDY, REGN, RELX, REPYY, RGA, RHP, RIOT, RJF, RL, RMD, ROP, ROST, RPM, RS, RSG, RSP, RUSHA, RWAY, RYAAY, SAIA, SAIC, SAP, SBAC, SBUX, SFM, SHAK, SHW, SKM, SKWD, SM, SMCI, SMH, SNOW, SNX, SOVO, SPG, SPGI, SPOT, SPXC, SPY, SQ, SQSP, SSD, SSNC, STE, STLD, STN, STNG, STRL, STX, STZ, SUM, SXC, SYK, SYY, TAP, TDG, TDW, TDY, TECH, TEL, TER, TGLS, TGS, TGT, TJX, TKR, TM, TMHC, TMO, TNET, TOL, TPR, TPX, TRAK, TREX, TRGP, TRI, TRIP, TRMB, TRMD, TRNS, TROW, TRV, TSCO, TT, TTEK, TW, TXN, TXRH, UAL, UHS, ULTA, UNH, UNP, UPBD, UPS, URBN, URI, USAP, USFD, USO, V, VECO, VEEV, VGT, VIPS, VIST, VIV, VLO, VMC, VNOM, VNT, VRNS, VRT, VRTS, VRTX, VSEC, VST, VTRS, VVV, W, WAB, WAT, WDC, WDFC, WES, WFC, WFRD, WGMI, WING, WM, WMB, WMS, WMT, WRB, WSM, WTW, WWD, WY, XHB, XLB, XLC, XLE, XLF, XLI, XLK, XLP, XLV, XLY, XRX, XYL, YPF, YUM, ZBH, ZBRA, ZTS

 

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 – 2024-02-22

ARCH.V, ARE.TO, ATD.TO, ATD/A.TO, ATH.TO, ATX.V, AVGO.NE, AYR/A.CA, BAM.TO, BAM/A.TO, BAMR.TO, BDGI.TO, BDT.TO, BEI/UN.TO, BHC.TO, BK/PA.TO, BN.TO, BNRE.TO, BPF/UN.TO, BRK.NE, BTE.TO, BYD.TO, CAR/UN.TO, CCL/B.TO, CHEV.NE, CIG.TO, CIGI.TO, CIX.TO, CJ.TO, CL.CA, CLS.TO, CM.TO, CMG.TO, CNQ.TO, CNR.TO, COST.NE, CP.TO, CPG.TO, CPX.TO, CRM.NE, CS.TO, CSU.TO, CU.TO, CURA.TO, CVE.TO, DCM.TO, DE.V, DF.TO, DFN.TO, DGS.TO, DIR/UN.TO, DNG.TO, DOL.TO, DRX.TO, EFN.TO, EFX.TO, EIF.TO, EIT/UN.TO, ENB.TO, ENS.TO, ERF.TO, ERO.TO, ETHH.TO, FEC.TO, FFH.TO, FFN.TO, FFN/PA.TO, FRU.TO, FSV.TO, FSZ.TO, FTN.TO, GDC.TO, GDV.TO, GEI.TO, GIB/A.TO, GIL.TO, GSY.TO, GTII.CA, GWO.TO, H.TO, HD.NE, HDI.TO, HLF.TO, HME.V, HPS/A.TO, HTL.TO, HWX.TO, IFC.TO, IGM.TO, IIP/UN.TO, IMG.TO, IMO.TO, INE.TO, IPO.TO, JAG.TO, JPM.NE, JUSH.CA, JWEL.TO, KMP/UN.TO, L.TO, LB.TO, LFE.TO, LGO.TO, LLY.NE, LMN.V, LNR.TO, MCB.TO, MDA.TO, MDI.TO, MEG.TO, MFC.TO, MKP.TO, MRU.TO, MSFT.NE, MTL.TO, MVRS.NE, NA.TO, NFLX.NE, NNRG.NE, NOA.TO, NPK.TO, NTR.TO, NVDA.NE, OBE.TO, PBH.TO, PET.TO, PEY.TO, PG.NE, PIF.TO, PKI.TO, PLC.TO, POU.TO, POW.TO, PPL.TO, PRMW.TO, PSK.TO, RAY/A.TO, RBA.TO, RCI/B.TO, RECO.V, RML.V, ROOT.TO, RUS.TO, SAP.TO, SBC.TO, SIA.TO, SLF.TO, SOIL.TO, STN.TO, T.TO, TA.TO, TCL/A.TO, TD.TO, TF.TO, TFII.TO, THNC.TO, TIH.TO, TIXT.TO, TNZ.TO, TOI.V, TPZ.TO, TRI.TO, TRUL.CA, TSU.TO, UNH.NE, VHI.TO, VISA.NE, WCN.TO, WCP.TO, WED.V, WELL.TO, WN.TO, WPK.TO, WSP.TO, X.TO, ZZZ.TO

 

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