SYS Research – Daily Report – Thursday, January 25, 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.

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SYS Daily Report

Resilient U.S. Economy Fuels S&P 500 to Fifth Consecutive Record High, Igniting Oil Sector Surge Amidst Geopolitical Risks

In a surprising turn of events, the S&P 500 reached yet another milestone on Thursday, marking its fifth consecutive record high, as new data unveiled the unexpected resilience of the U.S. economy throughout 2023. The Commerce Department reported a robust 3.3% annual growth rate in the fourth quarter, surpassing the 1.7% estimate by economists surveyed by FactSet.

The benchmark index surged by 0.5%, extending its winning streak, while the Dow industrials climbed 0.6%, reaching a new record high of 243 points. The Nasdaq Composite also experienced a modest 0.2% gain.

S&P 500 – Daily Chart

Dow Jones Industrial Average – Daily Chart

Nasdaq – Daily Chart

Meanwhile, the 10-year U.S. Treasury yield retreated to 4.132%, stepping back from Wednesday’s peak, which was the highest level since December 12. The decline in yields was attributed in part to labor market data that fell below expectations, causing a rise in bond prices.

10-Year US Treasury Yield

A notable development in the market revolves around the oil sector, as our crude chart completes a bullish triple cross signal, confirming the lift-off anticipated earlier this week. Nymex crude oil saw a significant uptick, closing up 3% at $77.36 per barrel, its highest level since late November. Brent also recorded a 3% increase, closing at $82.43 per barrel, marking the third gain in the past four sessions.

USO – United States Oil Fund, LP

Crude Oil – Weekly Chart

The energy services sector, particularly those highlighted in our Canadian setups section, has experienced substantial gains, mirroring the success of the OIH setup shared on the U.S. side. Today’s report will feature additional charts exploring the energy theme in the setups section, providing insights for investors navigating these dynamic markets.

US Daily Setups

GCT – GigaCloud Technology Inc.

GigaCloud Technology seems to be set up in a bull flag continuation pattern.

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

 

OIH – VanEck Vectors Oil Services ETF

The VanEck Vectors Oil Services ETF setup, recently highlighted, continues to gain momentum off the lower trendline of its falling channel. Keep a close watch for signs of continuation and potential upside strength, which could pave the way for a breakout.

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

 

VIST – Vista Oil & Gas SAB

The Vista Oil & Gas setup is steadily moving towards a new all-time high.

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

 

WOR – Worthington Industries, Inc.

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

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

 

XLE – Energy Select Sector SPDR Fund

The Energy Select Sector SPDR Fund is setting up in the form of a potential bottoming wedge. Keep a close eye for the continuation of upside strength that may lead to a potential breakout.

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

 

YPF – YPF Sociedad Anonima

YPF Sociedad Anonima is attempting to break out from a bull flag continuation pattern following its retest of the recent breakout line.

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

 

Canadian Daily Setups

CNQ.TO – Canadian Natural Resources Ltd.

Canadian Natural Resources appears to be setting up near the apex of a significant multi-month consolidation/continuation pattern. Keep a close watch for continuation and upside strength, which may lead to a potential breakout.

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

 

CVE.TO – Cenovus Energy Inc.

Cenovus Energy appears to be setting up in the form of a bottoming wedge, with the PPO momentum indicator signaling positive divergence. Keep a close watch for continuation and upside strength that may lead to a breakout.

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

 

OTEX.TO – Open Text Corp.

Open Text is breaking out from a significant basing pattern, reaching a 52-week high.

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

 

SU.TO – Suncor Energy, Inc.

Suncor Energy is working its way towards the apex of a significant multi-year consolidation/continuation pattern. Keep an eye out for signs of upside strength that may lead to a potential breakout.

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

 

TCW.TO – Trican Well Service Ltd.

Trican Well Service is now starting to break out above both the upper trendline of the pattern and the horizontal resistance/trigger line.

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

 

WTE.TO – Westshore Terminals Investment Corp.

Westshore Terminals Investment appears to be setting up near the apex of a significant multi-year consolidation/continuation pattern. Keep a close watch for signs of upside strength that may lead to a breakout.

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

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 – 2024-01-25

AAL, ABBNY, ABBV, ADBE, AEE, AEO, AEP, AER, AES, AGM, AIZ, ALGN, ALL, ALLE, ALPN, ALSN, AM, AME, AMGN, AMP, AMWD, AMZN, AOS, APD, APH, APO, APOG, APP, ARCO, ARE, ARES, ASML, ATO, AXP, AYI, AZEK, AZZ, BAC, BAESY, BALL, BAM, BAX, BBY, BCC, BCSF, BITW, BK, BLBD, BLD, BLDR, BPOP, BR, BRC, BRK/B, BSX, BTBT, BUR, BVN, BWXT, BYRN, C, CAG, CAH, CAMT, CAPL, CARG, CARR, CASH, CASY, CAT, CCAP, CCEP, CCI, CCS, CDRE, CDW, CE, CEG, CENT, CENTA, CF, CFB, CHD, CHE, CHKP, CHRW, CL, CLS, CLSK, CLX, CM, CMCSA, CME, CMI, CNO, COF, COOP, COP, COPX, COR, CPA, CPB, CPRT, CPS, CQP, CR, CRESY, CRH, CRM, CSCO, CSGP, CSL, CSX, CTLT, CTSH, CVI, DAL, DECK, DEFTF, DFH, DFS, DG, DGHI, DIS, DK, DKS, DLR, DLTR, DOV, DOW, DSGR, DSGX, DTM, DUK, DVA, E, EA, EADSY, EAT, EBAY, EC, ECL, EDU, EG, EGO, EGY, EHC, ELTK, ELV, EMR, EPD, EQIX, ERJ, ES, ET, ETN, ETR, EW, EXP, EXPD, EXPE, F, FANG, FAST, FBIN, FBP, FDIG, FDS, FDX, FERG, FFIV, FIS, FIVE, FIX, FLEX, FLS, FLT, FMX, FOX, FRT, FSS, FSV, FTAI, GBDC, GCT, GD, GEN, GEOS, GFF, GIB, GIII, GIS, GL, GLP, GLW, GM, GOOG, GOOGL, GPK, GPOR, GRBK, GRC, GS, GTLB, GWW, HAYN, HCA, HEES, HEI, HES, HESM, HIG, HII, HLT, HON, HOV, HPQ, HQY, HRB, HRI, HSIC, HTGC, HUBB, HUT, IBM, IBN, ICFI, IDT, IEX, IFF, IHG, IHI, IMO, IP, IPG, IRM, ISRG, ITW, J, JBI, JCI, JELD, JHX, JKHY, JNJ, JPM, K, KHC, KIM, KKR, KMI, KNF, KNTK, KO, KOF, KR, KRT, LBRT, LECO, LH, LII, LMB, LYB, LYV, LZB, MAR, MARA, MAS, MBC, MCK, MCO, MDLZ, MDT, MET, META, MFC, MGM, MHK, MHO, MITK, MKC, MLI, MLM, MLR, MPC, MPLX, MRK, MSFT, MSM, MSOS, MTCH, MU, NATR, NBN, NCLH, NDSN, NECB, NFLX, NGS, NMIH, NOG, NRG, NS, NSSC, NTAP, NTRS, NU, NUE, NX, NYT, OC, ODP, OFG, OKE, OMC, ORCL, ORLY, OSG, OSK, OTEX, OTIS, OTTR, PAA, PAGP, PAGS, PAM, PARR, PATK, PAX, PBA, PBR, PBR/A, PEP, PG, PGTI, PH, PHG, PHM, PINS, PNR, PNW, PR, PRDO, PRIM, PRU, PSA, PSX, PXD, QSR, RBLX, RCL, REG, RELX, REPYY, REVG, RIOT, RL, ROAD, ROK, ROST, RPM, RSG, RSP, RTX, RUSHA, RVTY, RYAAY, SAH, SHAK, SHEL, SHW, SJM, SKX, SM, SN, SNOW, SO, SPB, SPGI, SPOT, SPY, SSD, STN, STNE, STZ, SUBCY, SWK, SYF, SYK, T, TAP, TDG, TEX, TGLS, TGS, TGT, THR, TIPT, TJX, TMHC, TOL, TPH, TPR, TRAK, TREX, TRGP, TRMB, TROW, TS, TSCO, TSN, TSQ, TTE, TTWO, TW, UAL, UBER, UGP, UHS, ULTA, UPBD, UPS, URI, USAC, USO, V, VIST, VIV, VLO, VMC, VNOM, VRRM, VRTX, VSEC, VST, VTS, VTSI, VZ, WDC, WES, WFC, WFRD, WGMI, WHR, WM, WMB, WMS, WMT, WOR, WRK, WSM, WYNN, XHB, XLB, XLC, XLE, XLF, XLI, XLP, XRAY, XRX, XYL, YPF, YUM, Z, ZG

 

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 – 2024-01-25

AAV.TO, AAWH/U.CA, AC.TO, AD/UN.TO, ADEN.TO, ADW/A.TO, AI.TO, AIF.TO, AKG.TO, ALA.TO, AMZN.NE, AP/UN.TO, AQN.TO, ARCH.V, ARX.TO, ATS.TO, ATZ.TO, AYA.TO, BAM.TO, BAM/A.TO, BDGI.TO, BDT.TO, BEP/UN.TO, BIP/UN.TO, BIPC.TO, BIR.TO, BK.TO, BLX.TO, BN.TO, BNS.TO, BRAG.TO, BRK.NE, CAS.TO, CCL/B.TO, CEU.TO, CF.TO, CGX.TO, CHR.TO, CIG.TO, CIGI.TO, CL.CA, CLS.TO, CM.TO, CNQ.TO, CP.TO, CRDL.TO, CRR/UN.TO, CS.TO, CURA.TO, DFN.TO, DFY.TO, DGS.TO, DIS.NE, DND.TO, DNTL.TO, DR.TO, DRM.TO, DSG.TO, DTC.CA, DXT.TO, ECO.TO, EIF.TO, ELD.TO, ENGH.TO, ENS.TO, ETG.TO, ETL.V, EXE.TO, FDR.V, FFH.TO, FFN.TO, FN.TO, FSV.TO, GAU.TO, GIB/A.TO, GIL.TO, GMIN.TO, GOOG.NE, GOT.V, GWO.TO, H.TO, HDI.TO, HITI.V, HME.V, HPS/A.TO, HUT.TO, HWX.TO, IAG.TO, IAU.TO, IBM.NE, ILLM.TO, IMO.TO, IPCO.TO, IVN.TO, KEY.TO, KSI.TO, LFE.TO, LUG.TO, MDA.TO, MEG.TO, MFC.TO, MRU.TO, MSFT.NE, MTL.TO, MTY.TO, MVRS.NE, MX.TO, NA.TO, NEO.TO, NFLX.NE, NOVC.TO, NPI.TO, NWC.TO, OGC.TO, OLA.TO, ONEX.TO, OTEX.TO, OVV.TO, PAY.TO, PBH.TO, PET.TO, PLC.TO, PMET.V, PNRL.V, POU.TO, PPL.TO, PRMW.TO, PRU.TO, PRYM.TO, PSI.TO, PTM.TO, QBR/B.TO, QSR.TO, RAY/A.TO, RCH.TO, REAL.TO, RUS.TO, SES.TO, SIS.TO, SOIL.TO, STEP.TO, STN.TO, SU.TO, TCW.TO, TECK/B.TO, TER.CA, TF.TO, TIH.TO, TOT.TO, TOY.TO, TROY.CA, TRP.TO, TRUL.CA, TRZ.TO, TSND.TO, TSU.TO, TVE.TO, VHI.TO, VLE.TO, VNP.TO, VRNO.NE, VZLA.V, WCN.TO, WED.V, WELL.TO, WN.TO, WSP.TO

 

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