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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SYS Daily Report
Tesla Collapse Sends Nasdaq Lower Amid Trump-Musk Fallout
Tech Selloff Deepens as Musk-Trump Feud Escalates
Markets turned sharply lower on Thursday as a public spat between Tesla CEO Elon Musk and President Donald Trump unsettled investors and dragged major indexes into the red. The Nasdaq Composite fell 0.8%, weighed heavily by a 14.3% plunge in Tesla (TSLA) shares, which suffered their largest one-day market cap loss on record—erasing approximately $152.4 billion. The S&P 500 slid 0.5%, and the Dow Jones Industrial Average lost 108 points, or 0.3%, retreating from early session gains sparked by optimism around U.S.-China relations.
One key observation across the major indexes is that the upper Bollinger Band is beginning to hook lower—a technical cue that often signals the exhaustion of an upside move. At the same time, the MACD indicator has flattened out, suggesting a contraction in volatility that aligns with the narrowing Bollinger Bands. This tightening range reflects a period of low volatility, and as the old adage goes, low volatility often precedes high volatility.
Amid ongoing political and market noise—including the latest headlines involving Donald Trump and Elon Musk—investors should remain alert to shifting dynamics. The Nasdaq and S&P 500 appear to be forming a bearish flag pattern, which, if confirmed by a breakdown below the lower trendline, could open the door for a retest of the 200-day moving average.
In contrast, the Dow Jones Industrial Average is consolidating in what looks more like a pennant formation, with both Bollinger Bands squeezing tightly. This setup suggests the potential for an explosive move in either direction for the indexes. If volatility begins to expand, it’s critical to watch for a confirmed breakout. Should price action begin to move lower, having defined stop-loss levels and a clear risk management strategy in place becomes essential.
Nasdaq – Daily Chart
S&P 500 – Daily Chart
Dow Jones Industrial Average – Daily Chart
The feud, which erupted on social media, began with Musk criticizing Trump’s tax legislation. Trump responded by questioning Musk’s loyalty and floated the idea of terminating federal subsidies for Musk-linked companies. The tension escalated when Musk implied Trump should be impeached and suggested he might form a new political party. Investors reacted swiftly, as the escalating rhetoric overshadowed a constructive phone call between Trump and Chinese President Xi Jinping, which had initially buoyed sentiment.
Some colleagues have been actively trading the TSLZ ETF, the two-times inverse ETF to Tesla, as a way to capitalize on the ongoing noise between Elon Musk and President Trump. This ETF is highly volatile—akin to trading with nitrous oxide—capable of explosive moves in either direction. While the upside potential can be compelling during sharp pullbacks in Tesla, it’s crucial to remember that leveraged inverse ETFs can decline just as fast as they rise. Risk management and position sizing are critical when navigating such instruments.
TSLZ – ETF Opportunities Trust – T-Rex 2X Inverse Tesla Daily Target ETF
Broader Market Weakness and Earnings Volatility
Beyond Tesla, the technology sector faced additional pressure. Palantir Technologies (PLTR) dropped 7.8%, slipping below a recent technical setup. Broadcom (AVGO) fell nearly 3% in extended trading after its earnings report, despite beating expectations on both profit and revenue. The decline came after AVGO closed at a record high, extended from a prior technical base.
Recent IPO CoreWeave (CRWV), which had surged nearly 400% since late April, fell 17.2%, signaling cooling enthusiasm for high-valuation growth names. Dutch Bros (BROS) attempted a breakout from a cup-with-handle setup but failed to hold above the level by the close. Meanwhile, Amazon (AMZN) and Meta Platforms (META) continue to consolidate within larger technical patterns, though AMZN’s relative strength is beginning to lag.
Bitcoin Is Testing the 50-Day Moving Average as Market Volatility Rises
Bitcoin is currently testing its 50-day moving average, a key technical level closely watched by traders. Ideally, price action stabilizes here, as the MACD indicator also returns to test the zero line—an area that could act as technical support. Holding this zone would support the case for continued upside.
However, if Bitcoin fails to maintain support at the 50-day moving average, it opens the door for a deeper pullback toward the 200-day moving average. This would suggest a shift in momentum and a possible change in trend. Watch closely for confirmation of support or developing signs of weakness as the setup unfolds.
Bitcoin – Daily Chart
Economic Data Mixed Ahead of Jobs Report
On the macro front, initial jobless claims rose to their highest level since October, signaling potential cracks in the labor market. Meanwhile, the U.S. trade deficit narrowed sharply to $61.6 billion in April after hitting a record in March, offering a mixed economic picture. Treasury yields moved higher in response, with the 10-year yield settling at 4.39%.
Abroad, the European Central Bank delivered its eighth rate cut in a year, widening the policy divergence with the Federal Reserve. Germany’s new Chancellor, Friedrich Merz, met with Trump at the White House amid ongoing transatlantic trade negotiations. Despite growing concerns about tariffs, BlackRock warned of elevated inflation risks if trade levies persist through the year.
10-Year US Treasury Yield
Oil Prices Defy Supply Glut Warnings
Oil markets remained surprisingly resilient. Brent crude climbed to $65.34 per barrel, up 8.5% from its 2025 lows. This strength comes despite OPEC+ and other global producers ramping up output well ahead of expected demand increases. Supply is on track to outpace demand by 2.6 million barrels per day in the fourth quarter, according to estimates, yet inventories have not shown signs of surplus buildup.
Analysts attribute the strength to solid refinery margins and elevated near-term demand, with the oil futures curve still in backwardation—a bullish signal. However, some believe the market could soon slip into contango, a more bearish setup. The geopolitical wildcard remains Iran. If talks with the U.S. break down and sanctions reduce Iranian oil exports, prices could spike by $5 to $10 per barrel.
Crude Oil – Daily Chart
TSX Inches Higher on Trade Optimism and Oil Strength
The TSX Composite Index edged up 13.29 points, or 0.1%, closing at 26,342.29, just below record levels. The rise was fueled by strength in the energy and materials sectors, as both oil and copper prices climbed. The energy sector gained 0.5%, while materials rose 0.4%, partially offsetting a 1.1% decline in technology.
Investor sentiment received a modest boost from reports that Prime Minister Mark Carney is maintaining direct contact with President Trump in hopes of securing relief from U.S. tariffs. The ongoing negotiations have raised optimism for a year-end TSX close near 27,000, particularly as Canada seeks to reverse April’s record trade deficit of C$7.1 billion. Meanwhile, Descartes Systems Group (DSG.TO) fell 12.1% after missing earnings estimates, weighing on the tech-heavy portion of the index.
TSX – Daily Chart
Markets are entering Friday’s session with heightened volatility and political uncertainty. The feud between Musk and Trump has cast a long shadow over what could have been a relatively quiet trading day ahead of the May jobs report. With economic signals flashing mixed messages and key earnings continuing to disappoint, the next data release will be crucial in determining whether this pullback deepens or stabilizes. For now, investors may consider a more cautious stance, keeping watchlists fresh and risk controls tight.
“If you define the downside before the trade, the upside will take care of itself.” — Paul Tudor Jones
Now, onto the daily setups.
US Daily Setups
BKSY – BlackSky Technology Inc.
BlackSky Technology appears to be setting up below horizontal resistance and is experiencing bullish option activity. Monitor for any potential breakout signals as price action consolidates near this level.
LINK TO CHART – https://schrts.co/iIwZzSaC
CRCL – Circle Internet Group Inc.
Circle is a stablecoin company that may be worth keeping on a watchlist as the broader digital asset space continues to evolve. Monitor for any signs of accumulation or developing price structure that could indicate institutional interest.
LINK TO CHART – https://schrts.co/sDfACHDb
INOD – Innodata Inc.
Innodata continues to set up for a potential breakout as price action holds near horizontal resistance. Monitor for signs of expanding volume or momentum indicators confirming strength that could lead to a sustained move higher.
LINK TO CHART – https://schrts.co/fmIsFQWg
NCLH – Norwegian Cruise Line Holdings Ltd.
Norwegian Cruise Line continues to position for a bottoming pattern breakout as price challenges resistance while the PPO momentum indicator attempts to curl higher from the zero line. Monitor for any signs of sustained upside momentum.
LINK TO CHART – https://schrts.co/HFHsuAnr
TOST – Toast Inc.
Toast appears to be setting up just below its 52-week high and experienced bullish option activity today. Monitor for any potential breakout signals that could indicate the start of a new leg higher.
LINK TO CHART – https://schrts.co/tAdcvFCF
ZJK – ZJK Industrial Co Ltd.
ZJK Industrial is experiencing a surge in volume today. Monitor to see if price action can break out from the rounded bottom pattern.
LINK TO CHART – https://schrts.co/BwjgvYcB
Canadian Daily Setups
CNQ.TO – Canadian Natural Resources Ltd.
Canadian Natural Resources is consolidating in the form of a potential continuation pattern, with price action currently positioning below the upper trendline and horizontal resistance. The weekly PPO momentum indicator has crossed bullishly and is climbing toward the zero line—a constructive sign. Keep this chart on a watchlist and monitor for any breakout signals, especially given the notable increase in institutional activity reported last quarter.
LINK TO CHART – https://schrts.co/VPQvdbtc
CXB.TO – Calibre Mining Corp.
Calibre Mining continues to push higher from the triangle pattern highlighted last night, showing follow-through as price action builds on recent momentum. Monitor to see if it can challenge the next resistance level.
LINK TO CHART – https://schrts.co/PurMuBHv
HBM.TO – HudBay Minerals Inc.
HudBay Minerals continues to attempt its breakout from the right side of a significant multiple-year base, following the bullish option activity we recently highlighted. Monitor for signs of follow-through.
LINK TO CHART – https://schrts.co/KyrGiMIJ
MDA.TO – MDA Ltd.
MDA continues to position itself below its 52-week high. Monitor for any signs of upside momentum that could lead to a breakout.
LINK TO CHART – https://schrts.co/ICxbRiXw
MDI.TO – Major Drilling Group Intl, Inc.
Major Drilling is showing signs of increasing volume as the PPO momentum indicator attempts to curl higher from the zero line. It might be worth keeping this chart on a watchlist and monitoring for signs of upside momentum, although the company is scheduled to report earnings on June 11.
LINK TO CHART – https://schrts.co/hjVnqcqe
NEO.TO – Neo Performance Materials Inc.
Neo Performance Materials is breaking out above the bullish flag or wedge-type pattern. Monitor for signs of continued follow-through as price action clears the upper boundary of the formation.
LINK TO CHART – https://schrts.co/kXKvvruY
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
(Stocks are sorted to highlight those with the strongest momentum at the time of the scan)
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 – 2025-06-05
LIMN, NEGG, BW, PL, IMAB, MEHCQ, PHH, NBIS, DPRO, GEF, AG, GDEV, APPS, VTYX, LE, MOMO, MDB, ZJK, SRRK, ARLO, QURE, SMG, JYNT, SLDB, OSCR, IHRT, SANA, FSM, VZLA, YRD, UAMY, DLTR, ANGPY, CYD, PAYS, TVGN, VERV, AGX, ORLA, SBSW, CYRX, KC, KYMR, EXK, PAAS, ASTS, ITRG, SUZ, OSK, CMCL, ESOA, NGL, CAPR, KRMN, CRMD, ALTG, COGT, UPXI, TGTX, ARRY, DVS, WLFC, NGNE, OPRT, FIVE, CDE, HL, SMWB, PRCT, SEPN, MP, FET, SILJ, RDY, TGB, GDRX, JILL, OPEN, DARE, MAG, NCLH, RITR, DOCS, PKX, DBVT, GGB, BWLP, ULBI, ANNX, BVN, GDS, AQST, MGNI, MTA, AVR, SDHC, ANF, TBCH, VET, NGD, STVN, DOMO, TMDX, PTGX, GSM, EE, ORKA, CTEV, BV, DYN, BAYRY, PATK, AVD, TSCO, XYF, BYON, GROY, ATYR, SIL, XMTR, KNTNF, WRBY, RNA, ROAD, JEF, GNE, CRBP, RDW, ROOT, OM, LENZ, ZIM, AMSC, KIDS, SA, ATEYY, TEAM, MMLP, SCHL, PLCE, VNET, SSRM, TECK, KRMD, SLV, SNN, KOPN, LWAY, GASS, CAR, DHX, RBLX, WWW, BOOT, FWRD, ESEA, IAG, JRVR, MKTX, TARS, RVLV, ZETA, AVBP, SEZL, VEON, PRM, BLBD, GRFS, SKE, NET, KYTX, ELMD, SIBN, YMM, GOGO, BUR, CIA, SITE, LASR, MUX, ADCT, DCTH, CNXC, NB, GNSS, SNWV, PAX, MU, ESTC, TGLS, BLDP, OPRX, HMY, SHEN, MAPS, SRTS, SVM, ABNB, MSIF, EQX, CYBN, NRIX, SGC, CMRE, RYTM, CVLT, BTI, LYV, OPCH, OSPN, TDS, ATNI, BWMN, ARCO, VERB, RUN, GMGI, DOUG, EGO, MYRG, RKT, AMLX, DB, PNTG, ERAS, ABR, ZH, PEB, AFRM, FSLR, ODC, SCCO, WHG, LLYVA, TRVI, VRNT, TRDA, ICAD, LQDA, BGC, PLPC, CWAN, TOST, AXSM, NEE, LPG, EWTX, ESTA, TTEC, VEEV, KT, PHI, RDNT, ARIS, AVAH, MQ, NGLOD, ZUMZ, ASND, KNSA, PHR, ACMR, BDC, CIO, RCL, HESM, GDXJ, MEG, PRAX, HBM, SLG, CRH, EXPE, IBP, RIGL, AU, AZEK, IMBBY, LBTYK, MBAV, SBS, FCX, INTR, CNDT, CRK, SPPP, AMCX, EVER, NRC, USM, PBI, INVZ, IDT, MS, AROC, BURL, IFS, SNPS, ESRT, RIG, OPK, VRNA, CFLT, CMTL, DG, FTNT, AA, BEN, CGNT, BRW, TKO, AHCO, ARQT, ORCL, AKRO, DAO, LYFT, WINA, OMAB, PAC, BASE, CIM, LECO, COPX, DDOG, AVAV, EBKDY, JBTM, IE, LITE, SII, WOOF, DBI, SPOT, APEI, CACI, MSGE, VIK, WING, CHN, MDT, ORN, WDS, BTG, CBZ, JUNS, OII, PAYO, AORT, LIF, LSPD, PATH, MMI, SAND, VALE, CKHUY, HAFN, NSIT, TAC, WMS, PANW, SF, FMS, NTNX, RRX, SOFI, DT, PAA, SBLK, SEDG, ADEA, COOP, GFI, PHG, SAN, CNM, CRM, EPM, XPO, BB, DTM, CHEF, INOD, AIR, CSGP, MTCH, USAU, GLNG, IRON, SION, T, UBER, GHRS, NEU, PWP, ASM, HCI, NU, RLX, SENEA, UPST, AN, ENTA, AMAT, AVDL, BKE, SHOP, SABA, USPH, ACCO, AKBA, CRSP, EBR, SPNS, GH, LBTYA, ZS, AGYS, HWKN, RSI, DBA, IDCC, DCO, EVR, SE, ACA, EHAB, GILD, HSHP, ATEC, BSY, CWEN, NXT, BURBY, LMB, PJT, PUK, CPAY, EQH, LUMN, RAMP, SIMO, QFIN, ZLAB, ALKT, AUPH, CM, KLAC, LNG, AAP, ARDT, ARGX, ORA, VRSN, ENVA, IBEX, IBN, JOYY, ROKU, GRNT, TMUS, DERM, WAY, MTZ, ATEN, ENGIY, FSS, HTHT, PMX, SYY, TFPM, ACLX, LFT, PD, ISNPY, KGS, PTCT, ALC, BILI, CCEP, ESAB, THC, TPR, HTHIY, TPVG, WDC, BIDU, FAST, GS, IOT, NTES, SHAK, SJT, ASA, EDD, VERX, CLBT, IDCBY, MASI, MCY, AXON, CUK, IRM, AER, DBX, GVA, NYMT, TTI, DAC, HRTG, KE, TK, LMAT, BCS, DAVE, LPLA, MIR, VCTR, JAKK
Canadian Scanner Results
(Stocks are sorted to highlight those with the strongest momentum at the time of the scan)
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 – 2025-06-05
CKG.V, DPRO.CA, TRZ.TO, NCX.V, AG.TO, FAT.CA, FVI.TO, HSLV.TO, VZLA.TO, ANRG.TO, KTN.V, IVN.TO, EDR.TO, OLA.TO, PAAS.TO, PMET.TO, ITR.V, STGO.TO, BRVO.V, WUC.CA, MOON.V, AYA.TO, CF.TO, REG.V, VERS.NE, USA.TO, DV.V, TGH.V, VNP.TO, MAG.TO, CYBE.V, TKO.TO, SLI.V, GGD.TO, ATX.V, RUP.TO, III.TO, NGD.TO, VROY.V, KNT.TO, SFC.TO, MU.NE, MTA.V, NICU.V, EMO.V, LUG.TO, BLM.V, NEO.TO, ASCU.TO, TECK/B.TO, JAG.TO, GUD.TO, SEA.TO, NURS.V, HPS/A.TO, IMG.TO, SGML.V, SSRM.TO, BLDP.TO, SKE.TO, SOMA.V, CS.TO, MUX.TO, MARI.TO, LUN.TO, CXB.TO, OGC.TO, PRYM.TO, MDI.TO, KNG.V, PSLV.TO, EQX.TO, EQX.V, SVM.TO, ELD.TO, DFY.TO, EDV.TO, MDA.TO, ARTG.V, GEO.TO, CIA.TO, BBD/PD.TO, PRQ.TO, BBD/B.TO, NGEX.TO, BB.TO, AIAI.CA, MEND.CA, PXT.TO, TXG.TO, BDGI.TO, SPPP.TO, HBM.TO, NFI.TO, ERD.TO, TOT.TO, ISO.TO, FM.TO, CRT/UN.TO, VHI.TO, HBFG.CA, VEGN.CA, SVI.TO, ECOR.TO, VLE.TO, SXGC.V, LSPD.TO, AII.TO, BTO.TO, OGN.V, CVO.TO, SII.TO, SDE.TO, ASE.CA, IFC.TO, ELBM.V, WDO.TO, UBER.NE, ATRL.TO, TA.TO, CRM.NE, BIR.TO, SJ.TO, IPCO.TO, ARE.TO, CPX.TO, MEG.TO, BDT.TO, MSA.TO, ABRA.TO, FTT.TO, SSL.TO, ASML.NE, TFPM.TO, ARG.TO, CM.TO, ASM.TO, DIV.TO, NVA.TO, TCL/A.TO, DOO.TO, WPK.TO, LMN.V, CTC/A.TO, DIR/UN.TO, SBC.TO, JWEL.TO, NFLX.NE, FCR/UN.TO, GRID.TO, MSFT.NE, MSFT.TO, BTB/UN.TO, RBA.TO, APM.TO, PNG.V, ATZ.TO, ATH.TO, MND.TO, SES.TO, U/U.TO, AIM.TO, CHP/UN.TO, TSU.TO, IMO.TO, EMX.V, ALS.TO, KEL.TO, X.TO, HME.V, U/UN.TO, CRWD.NE, SRU/UN.TO, TOU.TO, CSH/UN.TO, SLS.TO, SLF.TO, NPI.TO, BBUC.TO, CAR/UN.TO, PMZ/UN.TO, TD.TO, IAG.TO, PRB.TO, QBR/B.TO, AMZN.NE, AMZN.TO, FFN/PA.TO, ODV.V, WCP.TO, SAP.TO, BIPC.TO, HWX.TO, GEI.TO, CAE.TO, DFN/PA.TO, ALDE.V, BN.TO, BBU/UN.TO, KMP/UN.TO, FTG.TO, MFC.TO, INE.TO, NWH/UN.TO, SIA.TO, ENB.TO, AAUC.TO, AP/UN.TO, BEI/UN.TO, BK/PA.TO, BNS.TO, WJX.TO, FC.TO, PEY.TO, BEPC.TO, ASTL.TO, EXE.TO, CNQ.TO, DOL.TO, PMEI/UN.TO, CIX.TO, CCA.TO, ERO.TO, CCO.TO, ENS.TO
