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: 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
Market Momentum Builds Amid Powell’s Testimony and Earnings Surges
In Thursday’s trading session, stocks surged as investors closely monitored Federal Reserve Chairman Jerome Powell’s congressional testimony ahead of Friday’s eagerly anticipated February U.S. jobs report. The Dow Jones and other key indexes experienced a rally fueled by robust retail and software earnings. Noteworthy milestones were achieved as Nvidia reached a new benchmark, while Tesla grappled with profit concerns and Google (Alphabet) sought to surpass the 200-day moving average. Simultaneously, our market scanners are ablaze with activity, particularly in the realm of commodities. Today, commodity-related stocks, spanning uranium, mining, metals, and agriculture, illuminate the scanner results.
When writing this, the S&P 500 displayed a noteworthy uptick, climbing 0.9% to 5,150.35. Notably, the market benchmark achieved a record close on March 1 at 5,137.08. Meanwhile, the Nasdaq Composite experienced a 1.4% increase but remained below its record close set the previous Friday. The Dow Jones Industrial Average rose 106 points, equivalent to 0.3%. The S&P and Nasdaq maintained their position above their 21-day exponential moving averages. Should the S&P 500 secure a record close this week, it would mark the eighth consecutive week of achieving at least one record close.
S&P 500 – Daily Chart
Nasdaq – Daily Chart
Dow Jones Industrial Average – Daily Chart
North of the border, Canada’s main index exhibited continued upward momentum following the breakout highlighted in our weekend report. Materials-linked stocks dominated scanner results and were prominently featured in today’s setups. When writing, the TSX composite index recorded a gain of 183.20 points on the week, or 0.85%, reaching 21,735.55.
TSX – Weekly Chart
Now, in navigating today’s setups, let’s heed the wisdom of Dennis Gartman: “Never, ever, argue with the tape. Arguing with the tape is expensive.” This principle guides us through our daily setups, emphasizing the importance of aligning strategies with prevailing market trends.
US Daily Setups
ARM – Arm Holdings Plc
Arm Holdings is consolidating into the coil of a continuation pennant. Watch its price action closely for potential breakout signals.
LINK TO CHART – https://schrts.co/NzarhxBp
CF – CF Industries Holdings, Inc.
CF Industries appears to be setting up on the right side of a significant multi-month bottoming pattern. Monitor closely for potential breakout signals and any signs of sustained upward momentum.
LINK TO CHART – https://schrts.co/yCeGdYts
COPX – The Global X Copper Miners ETF
The Global X Copper Miners ETF setup is seeing follow-through today, influencing many copper miners such as FCX, SCCO, and TECK. Monitor continued developments and potential impacts on related stocks in the sector.
LINK TO CHART – https://schrts.co/yIFvVSiv
MPC – Marathon Petroleum Corp.
Marathon Petroleum is continuing its uptrend, breaking out to a new 52-week high.
LINK TO CHART – https://schrts.co/qKINrsph
URA – Global X Uranium ETF
The Global X Uranium ETF and uranium stocks are prominent in today’s scanner results. The ETF is starting to move higher from a bull flag retest of the recent breakout line. Keep a close watch on this sector for potential continuation signals.
LINK TO CHART – https://schrts.co/cFbxAxgK
URNJ – Sprott Junior Uranium Miners ETF
The Sprott Junior Uranium Miners ETF is attempting to move higher from its breakout line retest.
LINK TO CHART – https://schrts.co/YMwSYwds
XME – SPDR S&P Metals and Mining ETF
The SPDR S&P Metals and Mining ETF is starting to break out from a continuation pattern, indicating potential strength in its upward movement. Keep monitoring for confirmation and any signs of sustained momentum in this breakout.
LINK TO CHART – https://schrts.co/WCwAfhZy
Canadian Daily Setups
AFN.TO – Ag Growth International Inc.
The Ag Growth setup from yesterday is seeing follow-through in its breakout, mainly as many agriculture-related stocks are appearing on the scanner results today. Keep monitoring for continued developments and potential impacts on related stocks in the sector.
LINK TO CHART – https://schrts.co/dyhYSmdp
CCO.TO – Cameco Corp.
Cameco is attempting to break out above a horizontal resistance line. Keep a close eye on its price action for potential confirmation of this breakout and any signs of sustained upward momentum.
LINK TO CHART – https://schrts.co/DfXhdIeu
CS.TO – Capstone Copper Corp
Capstone Copper appears to be breaking out from a significant multi-year consolidation pattern, suggesting potential strength in its upward movement. Monitor its performance for confirmation and any signs of sustained momentum.
LINK TO CHART – https://schrts.co/GAawxhuR
IVN.TO – Ivanhoe Mines Ltd.
Ivanhoe Mines is starting to trend higher from its continuation pattern. Monitor its ongoing performance closely for confirmation and potential continuation of this upward movement.
LINK TO CHART – https://schrts.co/AGqfPFKE
MDI.TO – Major Drilling Group Intl, Inc.
Major Drilling appears to be setting up on the right side of a bottoming pattern, especially as many of the mining names show up on the scanner results today. Keep monitoring for potential breakout signals.
LINK TO CHART – https://schrts.co/PrXhYPKS
NTR.TO – Nutrien Ltd.
Nutrien fits the commodity and agriculture theme showing up in the scanner results. Monitor closely for a potential breakout above the trigger line, and watch for any signs of sustained momentum.
LINK TO CHART – https://schrts.co/CyaKZbBH
TKO.TO – Taseko Mines Ltd.
Taseko Mines is a stock that has seen recent insider buying and now appears to be breaking out from a significant multi-year consolidation pattern.
LINK TO CHART – https://schrts.co/wYgSTbkg
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 – 2024-03-07
A, AAL, ABBNY, ABT, ACA, ACIW, ACM, ACMR, ACN, ADI, ADM, ADSK, AEM, AER, AIR, AIT, AJG, AKAM, ALGN, ALLE, ALV, AMAT, AMK, AMR, AMZN, ANET, ANSS, AON, AOS, APAM, APD, APG, APH, APO, ARCB, ARCH, ARE, ARKK, ARM, ASML, ASND, ASTH, ATI, ATKR, ATR, AVDX, AVGO, AXON, AXP, BA, BAND, BAX, BBVA, BBY, BCO, BECN, BIO, BIRK, BITO, BITW, BKR, BLD, BLDR, BLX, BR, BRBR, BRKR, BRO, BSX, BTU, BWA, BYRN, CAH, CAMT, CARG, CARR, CASY, CAT, CAVA, CBT, CCAP, CCCS, CCEP, CCJ, CDNS, CDRE, CE, CECO, CEIX, CELH, CF, CGBD, CHD, CHRD, CIVI, CL, CLS, CLSK, CLX, CMPR, CNC, COF, COIN, COO, COP, COPX, COST, CPA, CPRT, CR, CRL, CRS, CSL, CSTM, CSWC, CTAS, CTRA, CTSH, CVI, CYBR, D, DAC, DAL, DB, DCBO, DD, DEFTF, DELL, DFS, DHI, DINO, DKNG, DKS, DLO, DNN, DOCU, DPZ, DSGX, DTE, DTM, DVA, DVN, DY, E, EADSY, ECL, EDR, EHC, EIX, EL, ELF, EMN, EMR, ENPH, ENTG, EOG, EPAC, EPAM, EPD, ERIE, ES, ET, ETRN, EVRG, EW, EXP, EXPD, EZPW, FANG, FAST, FBIN, FCX, FDX, FFIV, FICO, FLEX, FLS, FLT, FMC, FOR, FRO, FROG, FSLR, FSS, FTAI, FTI, FTNT, FWRG, GBTC, GDX, GDXJ, GE, GGG, GIB, GLD, GMS, GNTX, GPC, GPK, GSK, GVA, HAL, HCC, HLX, HMY, HNI, HOLI, HOLX, HON, HPQ, HUBB, HUBS, IESC, IFF, IHI, IMO, INDV, ING, INTC, IOT, IPG, IQV, ISRG, ITB, ITGR, IWF, IWM, JBI, JBL, JCI, KB, KBH, KKR, KLAC, KNF, KNTK, KR, KTOS, KVUE, LAUR, LBRT, LEN, LII, LLY, LMB, LNW, LOGI, LOW, LPG, LPLA, LRCX, LSEA, LULU, LUV, LYV, LZB, MAA, MANH, MAS, MBIN, MCHP, MET, META, METC, METV, MGM, MHK, MHO, MLI, MLM, MMC, MMYT, MNST, MO, MORN, MPC, MPLX, MPWR, MRO, MSFT, MSM, MTB, MTD, MTDR, MTH, MTRN, MTSI, MU, NBIX, NCLH, NDAQ, NDSN, NET, NFLX, NLR, NMM, NOG, NPO, NR, NRP, NSC, NTRA, NTRS, NU, NVDA, NVO, NWSA, NXE, NXPI, NXT, OBDC, OC, ODFL, OIH, OKTA, OMC, OMI, ON, ONTO, OSK, OTIS, PBA, PBR/A, PEGA, PFGC, PG, PH, PHG, PHM, PLAB, PLNT, PLUS, PNR, POOL, POWW, PPG, PR, PRCT, PRIM, PRU, PSX, PTC, PXD, QCOM, QLYS, QQQ, QRVO, RBA, RDNT, RDY, REGN, RELX, REPYY, RGA, RJF, RMBS, RMD, ROAD, RPM, RSP, RUM, RUSHA, RVTY, RWAY, RYAN, SAH, SAP, SCCO, SHEL, SIGI, SLB, SLV, SM, SMCI, SMH, SNA, SNAP, SNPS, SPB, SPLK, SPOT, SPSC, SPXC, SPY, SQSP, SRUUF, SSD, STE, STER, STLA, STLD, STN, STNG, STZ, SWAV, SWKS, SWN, SXC, SYF, SYK, TAP, TCOM, TECH, TEL, TER, TEX, THC, TMHC, TMO, TOL, TPG, TPH, TPX, TREX, TRGP, TRIN, TRMB, TS, TSM, TTE, TTEK, TWLO, TXN, UAL, UBER, UBS, UEC, UPS, URA, URG, URNJ, URNM, USFD, USO, VECO, VEEV, VGT, VLO, VLTO, VMC, VNT, VOYA, VRRM, VRT, VSTS, VVV, WAB, WAT, WBD, WEX, WFRD, WHR, WIX, WRK, WSM, WSO, WST, WYNN, XHB, XLB, XLC, XLE, XLK, XLV, XLY, XME, XOM, XOP, XP, YUM, ZBH, ZWS
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 – 2024-03-07
ACO/X.TO, AFN.TO, ALA.TO, ALS.TO, AMZN.NE, AQN.TO, ARCH.V, ARE.TO, ARG.TO, ARIS.TO, ATD.TO, ATD/A.TO, ATRL.TO, ATX.V, BA.NE, BAM/A.TO, BEI/UN.TO, BN.TO, BNE.TO, BOS.TO, BTB/UN.TO, BTE.TO, CAR/UN.TO, CCL/B.TO, CCO.TO, CGG.TO, CHP/UN.TO, CNL.TO, CNQ.TO, CNR.TO, COST.NE, CP.TO, CPG.TO, CPX.TO, CRR/UN.TO, CS.TO, CSH/UN.TO, CTS.TO, CVE.TO, CVO.TO, DBM.TO, DF.TO, DGS.TO, DIV.TO, DML.TO, DSG.TO, EIT/UN.TO, EMA.TO, ENB.TO, ESI.TO, ETG.TO, EU.V, FAR.TO, FCU.TO, FDR.V, FFN.TO, FIL.TO, FOM.TO, FRU.TO, FSY.TO, FTN.TO, FTS.TO, GIB/A.TO, GIL.TO, GLO.TO, GWO.TO, H.TO, HBM.TO, HON.NE, IAG.TO, IAU.TO, IFC.TO, IGM.TO, IMO.TO, INTC.NE, IPCO.TO, ISO.V, IVN.TO, KEY.TO, KMP/UN.TO, KNT.TO, KRR.TO, L.TO, LBS.TO, LFE.TO, LNR.TO, LUN.TO, MATR.TO, MDI.TO, MEG.TO, MI/UN.TO, MMED.NE, MRU.TO, MSFT.NE, MVRS.NE, NG.TO, NPI.TO, NTR.TO, NVA.TO, NVDA.NE, NWC.TO, NWH/UN.TO, NXE.TO, NXR/UN.TO, OGC.TO, OGI.TO, PAAS.TO, PAY.TO, PD.TO, PEY.TO, PKI.TO, POW.TO, PPL.TO, PSI.TO, PSLV.TO, PTM.TO, QTRH.TO, RCK.V, RECO.V, REI/UN.TO, RUS.TO, RY.TO, SDE.TO, SEA.TO, SES.TO, SHLE.TO, SJ.TO, SLF.TO, SLS.TO, STEP.TO, STLC.TO, STN.TO, TCW.TO, TECK/B.TO, TKO.TO, TRP.TO, TTNM.TO, U/U.TO, U/UN.TO, URC.TO, URE.TO, VHI.TO, WELL.TO, WIFI.CA, WILD.TO, WN.TO, WSP.TO, WUC.CA, ZZZ.TO
