SYS Research – Daily Report – Thursday, February 8, 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.

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

Record Highs and Yield Surges: S&P 500 Hits 5000 in Intraday Trading Amidst Growing Economic Optimism

In intraday trading, the S&P 500 reached a milestone, hitting 5000, while the 10-year yield surged to its highest point in two weeks. Both the S&P 500 and Dow Jones achieved record levels, marking the 11th record for the Dow and the ninth fresh high for the S&P 500 this year.

The Dow Jones Industrial Average rose by 49 points or 0.13%, and the S&P 500 mirrored the gain with a 0.06% increase. The Nasdaq Composite, dominated by tech stocks, saw a 0.24% uptick.

Dow Jones Industrial Average – Daily Chart

S&P 500 – Daily Chart

Nasdaq – Daily Chart

As Treasury yields climbed, market participants speculated that the Federal Reserve might commence interest rate cuts in May or June. Contrary to expectations, weekly U.S. jobless claims data revealed that the labor markets are not cooling as rapidly as anticipated. The 10-year Treasury yield saw a notable increase of 0.074 percentage points to 4.170%, reaching a two-week high, while the two-year yield rose by 0.034 percentage points to 4.454%, marking a two-day consecutive gain and setting the tone for a positive end to the week. Although no major data is expected tomorrow, next week brings the release of January Consumer Price Index (CPI) numbers.

10-Year US Treasury Yield

Cryptocurrencies experienced a surge to their highest levels since the approval of spot Bitcoin exchange-traded funds, consistent with our suggestion from the previous night’s report to closely monitor the sector. Notably, our MARA setup from the preceding night recorded an impressive surge of over 23%, with the daily setups section featuring a strong presence of Bitcoin miners today.

Bitcoin – Daily Chart

Despite the ongoing strength in the stock market rally, the current environment calls for a cautious approach. Limited buying opportunities and a somewhat extended market signal a need for prudence in adding new positions. Consider taking profits in stocks with lower conviction or those that have become overbought. Develop a strategic game plan for exiting positions in the event of a market pullback or for overextension. Keep watchlists prepared to capitalize on potential buying opportunities amongst all the noise.

US Daily Setups

CVNA – Carvana Co.

Carvana is now attempting to break out from the pattern recently highlighted. Keep a close eye on the potential breakout.

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

 

IOT – Samsara Inc.

Samsara is making a move to break out from the apex of a bullish pennant, consolidating along the recent breakout line. Keep an eye on this potential breakout.

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

 

IREN – Iris Energy Ltd.

Iris Energy is breaking out above a significant area of congestion, as indicated by the substantial volume by price bar on the left side of the chart.

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

 

MARA – Marathon Digital Holdings Inc

The Marathon Digital setup from last night saw an exceptionally bullish day, surging over 23%.

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

 

PSTG – Pure Storage, Inc.

Pure Storage is attempting a new all-time high breakout.

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

 

WGMI – Valkyrie Bitcoin Miners ETF

Valkyrie Bitcoin Miners ETF is breaking out from a bottom wedge, surpassing a notable horizontal resistance line. Pay attention to the volume by price bars on the left side of the chart.

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

 

Canadian Daily Setups

ADEN.TO – Adentra Inc.

Adentra is gearing up for a potential breakout from a bottoming base. Pay attention to the classic bullish volume profile—it’s textbook. A surge in volume initially dipped during consolidation, now picking up as price action attempts a breakout. Keep those eyes peeled.

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

 

BITF.TO – Bitfarms Ltd.

Bitfarms is attempting to break out from a significant bull flag continuation pattern, supported by a bullish volume profile.

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

 

BLN.TO – Blackline Safety Corp.

Blackline Safety seems to be setting up on the right side of a substantial base, accompanied by bullish volume. Keep an eye out for a potential breakout.

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

 

GLXY.TO – Galaxy Digital Holdings Ltd.

The Galaxy Digital setup from last night had a positive day, breaking out from its continuation pattern.

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

 

HUT.TO – Hut 8 Mining Corp

Monitor Hut 8 Mining to observe if it can climb off these lows amid the broader movement in the Bitcoin and the Bitcoin mining sector.

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

 

PD.TO – Precision Drilling Corp.

Precision Drilling is approaching the tight apex of a substantial multi-year consolidation/continuation pattern. Keep an eye out for a potential breakout.

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

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 – 2024-02-08

A, AAON, ABNB, ACA, ACIW, ACMR, ACN, ADBE, ADEA, ADI, ADP, ADSK, AEO, AFRM, AFYA, AGO, AGYS, AIR, AIT, AJG, AKAM, ALGN, ALKT, ALLE, ALPN, ALSN, ALTR, ALV, AMAT, AMP, AMPH, AMWD, ANET, ANF, ANSS, AOS, APG, APH, APLS, APO, APOG, APPF, ARBK, ARKK, ARM, AROC, ASML, ATEYY, ATKR, ATR, AVDX, AVGO, AWI, AXON, AXP, AYI, AZEK, AZZ, BAH, BALL, BAM, BAX, BBVA, BBWI, BCC, BCO, BELFB, BEN, BIO, BIRK, BITO, BITQ, BITW, BKNG, BLD, BLDR, BLOK, BRBR, BRC, BRO, BRZE, BTBT, BTU, BVN, BX, BXP, BYRN, CACI, CAMT, CAPL, CARG, CASH, CASY, CAVA, CBAY, CBRE, CBT, CCCS, CCS, CDNS, CDW, CECO, CELH, CENT, CENTA, CHRD, CHRW, CI, CL, CLH, CLS, CLSK, CMA, CMI, CMPR, CNC, CNM, COF, COIN, COLL, COOP, COP, COST, CPLP, CPRT, CR, CRL, CRM, CRSP, CRVL, CRWD, CSL, CSTM, CSWI, CSX, CTLT, CTRA, CTSH, CVI, CVLT, CVNA, CVX, CXT, CZR, DAL, DASH, DAY, DCBO, DCI, DDOG, DEFTF, DELL, DFIN, DFS, DG, DGHI, DINO, DIS, DK, DKS, DLO, DLR, DLTR, DPZ, DRI, DRS, DSGR, DSGX, DV, DVN, EA, EAT, EFX, EGY, ELF, ELTK, ELV, EME, ENLC, ENSG, ENTG, EQIX, ERIE, ESAB, ESE, ESTC, ET, ETN, ETRN, ETSY, EVR, EXP, EXPE, FANG, FBIN, FBP, FCFS, FDIG, FERG, FFIV, FI, FICO, FIVE, FIVN, FIX, FLEX, FLS, FMX, FNF, FOR, FOUR, FROG, FRT, FSV, FTI, FWRG, GBTC, GBX, GCT, GE, GEHC, GGG, GIB, GIII, GL, GLOB, GLP, GLRE, GMS, GNRC, GNTX, GOLF, GOOG, GOOGL, GPOR, GPS, GRBK, GRC, GSHD, GTLB, GVA, GWRE, GWW, H, HAL, HAYN, HCI, HD, HES, HG, HIBB, HIVE, HLX, HMC, HNI, HPE, HQY, HRI, HST, HSY, HTGC, HUBB, HUBS, HUT, HWKN, HWM, HY, IBKR, IBM, IBOC, IBP, ICE, ICFI, ICLR, IDXX, IEX, ILMN, IMO, INFA, INTU, IOT, IP, IPAR, IQV, IR, IREN, IRM, IT, ITB, ITCI, ITGR, ITRI, IWF, IWM, JBI, JBL, JCI, JELD, JHX, JKHY, KAI, KBH, KD, KEYS, KKR, KLAC, KMX, KNF, KOP, KRT, KTOS, LAUR, LBRT, LDOS, LECO, LEN, LII, LLY, LMB, LMND, LNW, LPG, LPLA, LRCX, LRN, LULU, LUV, LVS, LYB, LZB, MANH, MARA, MBC, MCD, MDB, MDLZ, MEDP, MELI, META, METV, MGM, MGRC, MHK, MLI, MLM, MMC, MNDY, MOD, MOH, MPC, MPLX, MPWR, MSFT, MSM, MSTR, MTD, MTH, MTRN, MTSI, MUSA, MYRG, NATR, NCNO, NDSN, NET, NGS, NOA, NOW, NPO, NR, NS, NSC, NSIT, NSS, NSSC, NTAP, NTNX, NU, NUE, NVMI, NVR, NVT, NWS, NX, NXPI, NXT, ODD, ODFL, OEC, OIH, OKE, OKTA, OLED, ON, ONTO, OSIS, OSK, OTTR, PANW, PARR, PATH, PATK, PAX, PAYX, PCAR, PCOR, PEP, PGNY, PGR, PH, PKG, PLAB, PLD, PLMR, PLNT, PLTR, PNR, PNTG, POOL, POWL, POWW, PR, PRI, PRIM, PSA, PSN, PSTG, PSX, PTC, PWSC, PXD, QCOM, QQQ, QRVO, QSR, QTRX, RACE, RAMP, RBA, REGN, RELX, REPYY, REVG, REX, RHI, RIOT, RJF, RL, ROAD, ROCK, ROST, RPD, RPM, RSP, RUSHA, S, SAH, SAIA, SAIC, SBUX, SCHW, SCS, SFM, SHAK, SHEL, SHOP, SHW, SM, SMAR, SMCI, SMH, SN, SNOW, SNPS, SPB, SPG, SPSC, SPY, SQ, SSD, STLA, STLD, STNE, STRL, STX, SUM, SUN, SWBI, SWKS, SWN, SXC, SYF, TBBK, TDW, TECH, TEL, TENB, TEX, TFX, TGLS, TGT, TM, TMHC, TNC, TNK, TOL, TPH, TPR, TPX, TREX, TRGP, TRI, TRIP, TRMB, TRNS, TSLA, TSM, TSQ, TW, TWLO, TXN, UAL, ULTA, UPBD, URBN, USAP, USFD, USO, VECO, VERX, VGT, VLO, VLTO, VMC, VNOM, VNT, VRNS, VRT, VSEC, VTOL, VTSI, W, WAB, WAT, WDAY, WFRD, WGMI, WIRE, WMS, WOR, WRK, WS, WSC, WSM, WSO, WTS, WY, WYNN, XHB, XLE, XLK, XLY, XOM, XRX, YELP, YUM, 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 – 2024-02-08

AAUC.TO, AAV.TO, AAWH/U.CA, ADEN.TO, AEP.V, AIF.TO, ARCH.V, ARE.TO, ARTG.V, ARX.TO, ATD.TO, ATD/A.TO, ATH.TO, ATZ.TO, AVGO.NE, BAM/A.TO, BB.TO, BDGI.TO, BDT.TO, BEI/UN.TO, BITF.TO, BLN.TO, BN.TO, BOFA.NE, BTE.TO, CAR/UN.TO, CDAY.TO, CDR.TO, CEU.TO, CGO.TO, CIG.TO, CIGI.TO, CJ.TO, CLS.TO, COST.NE, CPG.TO, CR.TO, CRM.NE, CRON.TO, CTC/A.TO, CVE.TO, CXB.TO, DCBO.TO, DCM.TO, DGHI.V, DHT/UN.TO, DIS.NE, DND.TO, DOL.TO, DR.TO, EFL.TO, EFX.TO, ELVA.TO, EPRX.TO, ERF.TO, ERO.TO, ESI.TO, ETHC.NE, EU.V, FCR/UN.TO, FNV.TO, FSV.TO, FSZ.TO, FTG.TO, GIB/A.TO, GLXY.TO, GOOS.TO, GUD.TO, HIVE.V, HME.V, HPS/A.TO, HRX.TO, HUT.TO, IIP/UN.TO, IMO.TO, IPO.TO, JOY.TO, KMP/UN.TO, KRR.TO, KSI.TO, LBNK.V, LLY.NE, MARI.TO, MATR.TO, MDA.TO, MI/UN.TO, MMED.NE, MTL.TO, MTY.TO, MVRS.NE, MX.TO, NFI.TO, NOA.TO, NVA.TO, NVEI.TO, OBE.TO, OGC.TO, OGI.TO, PAY.TO, PD.TO, PEY.TO, PLC.TO, PLTH.CA, PMET.TO, POU.TO, PSK.TO, QBTC.TO, QSR.TO, RBA.TO, RECO.V, RSI.TO, SES.TO, SGR/UN.TO, SGY.TO, SHOP.TO, SLF.TO, SPB.TO, TBRD.V, TCW.TO, TFII.TO, TIXT.TO, TOU.TO, TRI.TO, TSLA.NE, TVE.TO, TXG.TO, VET.TO, VHI.TO, VLE.TO, VNP.TO, WCP.TO

 

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