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SYS Daily Report
Markets Sink as Tech Tumbles, Trade Uncertainty Weighs on Sentiment
Stocks closed sharply lower on Thursday, March 6, 2025, as investors reacted to escalating trade tensions, disappointing corporate earnings, and renewed recession fears. In a market increasingly driven by unpredictable news flow, a single tweet or policy announcement from President Donald Trump can either send stocks crashing below their 200-day moving average or propel them to new all-time highs. This volatility is accelerating sector rotations as investors react to shifting economic conditions and policy uncertainty. The Nasdaq Composite dropped 2.6%, officially entering correction territory after falling more than 10% from its December 16 record high. The S&P 500 declined 1.8%, while the Dow Jones Industrial Average lost 446 points (1%).
Nasdaq – Daily Chart
S&P 500 – Daily Chart
Dow Jones Industrial Average – Daily Chart
Technology stocks led the sell-off, weighed down by a steep decline in Marvell Technology after its earnings report failed to meet high expectations. The stock plunged 17% to $74.74, breaking below its 200-day moving average as concerns grew over a sharp drop in gross margins (23% vs. 46.2% prior quarter). Meanwhile, Veeva Systems bucked the trend, rising nearly 8% after reporting a 26% increase in earnings and 14% revenue growth.
Uncertainty surrounding U.S. trade policy further pressured markets. President Donald Trump announced a 25% tariff on imports from Canada and Mexico, citing fentanyl smuggling concerns. While a temporary exemption was granted to automakers, broader uncertainty over trade relations contributed to volatility. Treasury Secretary Scott Bessent heightened tensions by criticizing Canadian Prime Minister Justin Trudeau, raising fears of further retaliatory measures.
Economic data offered mixed signals. Weekly unemployment claims dropped to 221,000, a sharp decline from the previous week and better than the expected 244,000. However, the ADP private sector employment report fell short of forecasts, suggesting that businesses may be pulling back on hiring due to economic uncertainty. Bond traders responded by selling long-dated Treasuries ahead of the monthly jobs report, pushing the 10-year Treasury yield to 4.28%.
10-Year US Treasury Yield
Global markets showed a mixed reaction. The European Central Bank cut interest rates to combat slowing growth, while the Stoxx Europe 600 remained largely flat. In Asia, Hong Kong’s Hang Seng Index gained 3.3%, driven by strength in Chinese tech stocks. Bitcoin traded around $89,000.
In Canada, the TSX Composite Index fell 286.78 points (1.15%) to 24,584.04. The decline was fueled by trade concerns and weakness in the energy sector. U.S. tariffs on Canadian and Mexican goods weighed on investor sentiment, despite the temporary reprieve for automakers. Parkland Corp announced a strategic review, potentially leading to a sale as the Calgary-based fuel refiner and retailer looks to maximize shareholder value amid trade instability. Energy stocks struggled as oil prices remained volatile, reflecting uncertainty over global demand.
TSX – Daily Chart
Investors now turn their attention to the upcoming nonfarm payrolls report, due Friday at 8:30 a.m. ET. A weak jobs report could heighten recession fears, while stronger data may prompt speculation about future Federal Reserve policy moves. With tech stocks under pressure, trade tensions unresolved, and economic uncertainty rising, market sentiment remains fragile heading into the next trading session.
“Good risk management is the difference between a career and a short-lived hobby.” – Jack Schwager
Now, onto the daily setups.
US Daily Setups
ECX – ECARX Holdings Inc.
ECARX is attempting to set up in the form of a potential bottoming pattern. Monitor for signs of upside momentum that could lead to a breakout.
LINK TO CHART – https://schrts.co/cfucWnKV
MCD – McDonalds Corp.
McDonalds appears to be setting up on the right side of a consolidation area, positioned just below its all-time high. Monitor for a potential breakout if momentum builds.
LINK TO CHART – https://schrts.co/BpVIKybj
MSTR – MicroStrategy Inc.
MicroStrategy is now pushing up against the underside of resistance. Monitor for any potential breakout signals heading into the crypto summit. The real question is how it will react next week following the event.
LINK TO CHART – https://schrts.co/bbzuXkXy
SQM – Sociedad Quimica Y Minera
SQM is set up as a potential bottoming wedge that has been developing over the last three years. Monitor for signs of accumulation and a possible breakout if momentum strengthens.
LINK TO CHART – https://schrts.co/PgrdRwiq
TIGO – Millicom Intl Cellular S.A.
Millicom Intl Cellular continues to set up on the right side of a significant multi-month base, supported by a robust volume profile. Monitor for a potential breakout if momentum continues to build.
LINK TO CHART – https://schrts.co/ejMYiPch
VEEV – Veeva Systems Inc.
Veeva Systems is attempting to set up near its 52-week high. Monitor for a potential breakout if momentum continues to build.
LINK TO CHART – https://schrts.co/BhHtHCxI
ZK – ZEEKR Intelligent Technology Holding Ltd. – ADR
ZEEKR Intelligent Technology is setting up in the form of a potential IPO base. Monitor for signs of accumulation and a possible breakout as the pattern develops.
LINK TO CHART – https://schrts.co/HdYvjaBY
Canadian Daily Setups
AAUC.TO – Allied Gold Corp.
Allied Gold continues to consolidate just below its 52-week high. Monitor for a potential breakout if momentum strengthens.
LINK TO CHART – https://schrts.co/fvbfdhAq
DOL.TO – Dollarama Inc.
Dollarama continues to defy market volatility, reaching a new all-time high today. Monitor for sustained momentum and potential follow-through.
LINK TO CHART – https://schrts.co/ChrHzBxj
LAC.TO – Lithium Americas Corp.
Lithium Americas is setting up as a potential bottoming pattern, with increasing volume. However, monitor to see if price action can first break above resistance to confirm a breakout.
LINK TO CHART – https://schrts.co/dGEUqAIN
MRU.TO – Metro, Inc.
Metro appears to be setting up just below its all-time high. Monitor for a potential breakout if buying pressure continues to build.
LINK TO CHART – https://schrts.co/nRewAdch
PKI.TO – Parkland Fuel Corp.
Parkland Fuel is attempting to set up in the form of a significant multi-month bottoming wedge, which could also be viewed as a continuation wedge on a longer timeframe. Monitor for signs of upside momentum to see if the pattern can complete its reversal.
LINK TO CHART – https://schrts.co/ujeAKzXV
QSR.TO – Restaurant Brands International Inc.
Restaurant Brands continues to defy market volatility as it sets up in the form of a potential continuation pattern after consolidating for over a year. Monitor for a breakout attempt if momentum strengthens.
LINK TO CHART – https://schrts.co/McTEpwMS
RCI/B.TO – Rogers Communications, Inc.
Rogers Communications is setting up in the form of a potential bottoming pattern. Monitor for signs of upside momentum to confirm a possible reversal.
LINK TO CHART – https://schrts.co/wmxteUIZ
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 – 2025-03-06
VSTM, WLY, NKTX, DDL, BJ, ECX, TLSA, MG, CLMB, TRML, XERS, BURL, REVG, VEEV, IBTA, ZIM, KNDI, TARA, DPRO, SDHC, MATH, HIPO, AKA, MAN, GCTS, SPXU, RGTI, BNTC, CSTM, TSAT, EWTX, ADM, COLL, LVO, MKTX, HYMC, ZVRA, VRDN, ZK, SQM, ANIP, SA, IDCC, TIGO, BG, DHI, FAST, SCVL, DSGN, MOS, FSM, BDMD, BLFS, HAFN, GRBK, LU, SYRA, SG, PCAR, PZZA, MBC, CCS, DE, VERX, PBYI, POOL, DG, GOSS, MHO, XPEV, INSW, JKHY, ING, MOH, STZ, SEDG, TSE, VZ, ZS, TK, QURE, DVAX, JELD, WD, ARCO, AOS, MRSN, SJM, EA, ORMP, BIIB, PARA, TECH, ALB, CP, GHRS, TMHC, IMNN, DHR, VEON, DHT, SWIM, CAG, ALDX, EXPD, LUCD, FMC, PCVX, ANGPY, INLF, EXFY, RNA, CNQ, KR, CI, AHCO, CL, RVTY, PFE, ITB, KAI, TBRG, MO, PPG, AA, HSIC, KHC, FDP, TFX, GPC, SWK, AIM, UUUU, WAT, STM, MHK, HUM, CGEM, T, ACI, IFNNY, PBH, PSBD, HSII, EBAY, HSY, IFF, ARMN, APOG, STE, SBGI, LKQ, TOL, GPK, EG, ITW, ELV, MDLZ, CBOE, BL, CDRE, YELP, DCI, XHB, RGR, UVV, KC, BIDU, INGR, DOLE, EWW, MGA, NVS, DAC, KNTNF, MCD, OTIS, JBHT, WB, AZO, SYY, BTI, TGTX, MTD, JBTM, JEQ, VALE, QSR, DLB, FXY, IIPR, HAS, ALLE, BANX, WEAT, KDP, TMO, HALO, GBX, CCK, BAER, MNST, SNY, IBEX, OWLT, SONY, BWA, HAYW, EVER, ED, KMB, YMM, YOU, ESLT, POST, GD, CAT, SII, YUM, VSH, CRTO, NDSN, CHKP, ENPH, A, APTV, INMD, BERY, KWEB, FXI, PM, GRC, TS, ERIE, OMC, KVUE, ACMR, CARR, SCCO, LGND, UNP, HASI, MLAB, COR, AIXI, AMRK, BBVA, PTCT, LADR, MCK, BLD, ITGR, BILI, ESGR, BEKE, ORI, DPZ, TSN, FHI, MT, MOMO, ADT, LW, CHD, HE, BAX, RIO, NTES, JNJ, CEE, HMY, AMCR, KO, MRUS, GILD, GFS, AMGN, XLP, HCAT, EZPW, BCPC
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 – 2025-03-06
MCB.TO, ABRA.TO, PNPN.V, SCR.TO, NEO.TO, GOT.V, BDGI.TO, LAC.TO, PKI.TO, DSV.TO, EPRX.TO, PNG.V, MFL.V, LUCA.V, SEA.TO, FWZ.V, GGD.TO, FVI.TO, SXGC.V, HODL.CA, BOIL.CA, ALDE.V, NDM.TO, TOI.V, T.TO, PFE.NE, AII.TO, WILD.TO, CP.TO, RCI/B.TO, WN.TO, MR/UN.TO, EFR.TO, BGI/UN.TO, JAG.TO, L.TO, NPI.TO, DOL.TO, AAUC.TO, MAU.V, ARIS.TO, FN.TO, DOO.TO, CHP/UN.TO, QBR/B.TO, LIF.TO, GWO.TO, MRU.TO, SPB.TO, PET.TO, PBH.TO, CTC/A.TO, ASCU.TO, FOM.TO, MG.TO, MTL.TO, KNT.TO, WTE.TO
