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
Tech Stocks Lead Rally Ahead of Key Jobs Report
Despite a strong session, the stock market still faces the challenge of proving itself, with price action remaining below the 50-day moving average. Technology shares led the charge, driving stock indexes higher as investors awaited tomorrow morning’s pivotal jobs report, providing insight into the performance of the U.S. economy. Federal Reserve Chair Jerome Powell, in remarks on Wednesday, highlighted a slowdown in hiring as one factor indicating that elevated interest rates may be dampening demand. These observations underscore the critical role of labor-market dynamics in shaping economic trends and potentially influencing the Fed’s future decisions.
The upcoming jobs report holds significant sway over market sentiment. To simplify matters, major indexes are currently oscillating within a defined range, with one level acting as support and the other as resistance. This setup presents a binary scenario: a breakout above the resistance level signals optimism, while a breach below the support line suggests pessimism. Tomorrow’s jobs report could tilt prices in either direction. In the meantime, adopting this approach prevents fixation on daily index fluctuations, enabling investors to focus on promising opportunities, such as the recent strength in the uranium sector, where the spot price continues to rise.
It’s wise to refrain from trying to predict market movements and, instead, be prepared to react to actual changes. Stocks identified in the scanner results are nearing potential entry points, underscoring the necessity of maintaining updated watchlists. Conversely, if the market begins to trend toward and breaches the support line, numerous stocks may show signs of weakness or even experience breakdowns. Hence, having exit strategies in place is crucial for prudent risk management.
In today’s trading, the tech-heavy Nasdaq Composite surged by 1.5%, while the benchmark S&P 500 advanced by 0.9%, snapping two consecutive days of losses for both indices. The Dow Jones Industrial Average also climbed by 0.9%, adding 322 points to its tally. Meanwhile, the 10-year Treasury yield retreated to 4.571%, with the 2-year yield falling to 4.875% following suit.
Nasdaq – Daily Chart
S&P 500 – Daily Chart
Dow Jones Industrial Average – Daily Chart
10-Year US Treasury Yield
As investment luminary Benjamin Graham famously noted, “Successful investing is about managing risk, not avoiding it.” With that wisdom in mind, let’s turn our attention to the daily setups.
US Daily Setups
FTAI – FTAI Aviation Ltd.
FTAI Aviation continues demonstrating relative and absolute strength as price action attempts to break out to another new high. Watch this strong momentum for potential trading opportunities.
LINK TO CHART – https://schrts.co/hkNINsyk
GCT – GigaCloud Technology Inc.
GigaCloud Technology is working its way towards the apex of a consolidation pattern. Monitor for any potential signs of upside momentum that may suggest a continuation of the uptrend.
LINK TO CHART – https://schrts.co/pAyGjNTS
MRNA – Moderna Inc.
The Moderna setup is reacting well following its earnings report.
LINK TO CHART – https://schrts.co/IyAAIMiZ
SRUUF – Sprott Physical Uranium Trust
The Sprott Physical Uranium Trust continues to break out from the recently highlighted pattern.
LINK TO CHART – https://schrts.co/WymPvqIj
URA – Global X Uranium ETF
The Global X Uranium ETF continues to set up below the upper trendline of a multi-month consolidation/continuation pattern. Watch for any potential signs of a continuation of the uptrend.
LINK TO CHART – https://schrts.co/GyPgvYpZ
URNJ – Sprott Junior Uranium Miners ETF
The Sprott Junior Uranium Miners ETF also continues to set up below the upper trendline of a multi-month consolidation/continuation pattern. Watch for any potential signs of a continuation of the uptrend.
LINK TO CHART – https://schrts.co/TySpHSRP
Canadian Daily Setups
AIDX.TO – Healwell AI Inc.
Healwell AI is consolidating below its recent highs. Monitor closely for any signs of upside momentum, particularly as today’s slight increase in volume could indicate potential movement.
LINK TO CHART – https://schrts.co/zexRcQCw
CCO.TO – Cameco Corp.
Cameco appears to be setting up on the right side of a significant multi-consolidation pattern. Monitor closely for any potential breakout signals.
LINK TO CHART – https://schrts.co/BRYYdxEW
DML.TO – Denison Mines Corp.
Denison Mines continues consolidating as the PPO momentum indicator sets up for a potential bullish cross. Watch this setup closely for potential trading opportunities.
LINK TO CHART – https://schrts.co/PsdhTtgv
FCU.TO – Fission Uranium Corp.
Fission Uranium appears to be attempting to move higher from a recent consolidation area. Watch its price action for potential confirmation of this upward movement.
LINK TO CHART – https://schrts.co/hyvpHqbq
NXE.TO – NexGen Energy Ltd.
NexGen Energy appears to be setting up below its 52-week high. Monitor closely for any potential signs indicating a continuation of the uptrend.
LINK TO CHART – https://schrts.co/jYKBeGSR
U/UN.TO – Sprott Physical Uranium Trust
The Sprott Physical Uranium Trust appears to be breaking out from the recently highlighted pattern. Keep a close watch for confirmation of this breakout.
LINK TO CHART – https://schrts.co/VdNWQjjf
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 – 2024-05-02
AAPL, ABBNY, ABCB, ACA, ACIW, ACM, ADBE, ADI, AEE, AEL, AEM, AEO, AEP, AES, AFRM, AGM, AIR, AIT, ALAR, ALKT, ALRM, AM, AMAL, AMGN, AMKR, AMP, AMZN, ANF, ANIP, AOS, APAM, APD, APH, APO, APOG, APP, APPF, APTV, ARES, ARIS, ARKK, ARLO, ARLP, AROC, ATR, AVAV, AVB, AVDX, AVY, AWK, AX, AXON, AXTA, AZO, AZZ, BABA, BAND, BBW, BCO, BIO, BLBD, BLDR, BLX, BMA, BMI, BPOP, BRBR, BRO, BSY, BUR, BVN, BWA, BYRN, BZ, CACI, CAG, CAPL, CARG, CASH, CBT, CCJ, CCS, CDLX, CE, CEG, CELH, CENTA, CIEN, CL, CLBT, CLH, CMS, CNC, CNM, CNO, COIN, COKE, COOP, COST, CPA, CPNG, CPT, CR, CRBG, CRH, CROX, CSL, CSWI, CTLT, CVLT, CVX, CW, CXT, DAL, DCI, DDS, DE, DECK, DEFTF, DELL, DFIN, DHI, DHT, DKNG, DLR, DMLP, DNN, DOC, DOCU, DORM, DUOL, DVA, DXPE, DY, ECL, ED, EHC, EIX, ELMD, EMN, ENV, EPAC, EPAM, EQR, EQT, ESEA, ESS, ET, ETN, ETR, EVR, EVRG, EXP, EXPD, EXPE, FBP, FCN, FCNCA, FE, FERG, FICO, FIX, FLR, FMC, FNF, FOR, FOX, FRO, FRPT, FSLR, FSV, FTAI, FTI, FTNT, FUTU, FWRG, GBX, GCT, GD, GDRZF, GDX, GE, GEL, GEO, GFF, GFL, GIFI, GIS, GLP, GMS, GOOG, GOOGL, GRMN, GS, GSK, GVA, GWRE, H, HCP, HD, HEAR, HEI, HES, HLNE, HMC, HNI, HOOD, HRL, HSY, HWKN, HWM, IAG, IBKR, IBN, IBOC, IBP, ICFI, IDCC, IDT, IESC, IFF, IGIC, IIPR, ING, INSP, INSW, INVH, IOT, IP, ISRG, ITA, ITB, ITRI, ITRN, IWF, IWM, J, JETS, K, KALU, KDP, KEX, KGC, KIM, KKR, KLAC, KMB, KMI, KNF, KNTK, KR, KRE, KVUE, KWR, LDOS, LEN, LEVI, LINC, LMT, LNT, LOGI, LPG, LPLA, LRN, LVS, LW, LWAY, LYFT, MAA, MAMA, MBIN, MBWM, MCO, MCY, MELI, META, METV, MHO, MITK, MKC, MLI, MLR, MMYT, MNSO, MOG/A, MORN, MPLX, MPWR, MRNA, MS, MTH, MU, NBN, NDSN, NEM, NEU, NFLX, NGVC, NHC, NI, NLR, NMIH, NMM, NPO, NRG, NSSC, NTAP, NTB, NTNX, NVDA, NVMI, NX, NXE, NXPI, O, OC, OFG, OKTA, ONON, ONTO, OSCR, OSG, OSIS, OZK, PAGS, PANW, PARA, PATK, PAY, PBA, PCG, PDD, PEG, PFE, PFG, PFSI, PG, PHM, PIPR, PLAB, PLD, PM, PPC, PRDO, PRIM, PRMW, PSA, PSTG, PYPL, QCOM, QFIN, QSR, RACE, RBC, RBLX, RDNT, RDY, REGN, RELX, REVG, REX, RJF, RMD, RPAY, RPM, RRC, RTX, RYAAY, RYAN, SCS, SEIC, SF, SFM, SHEL, SHOP, SII, SMR, SN, SNX, SO, SPB, SPOT, SPSC, SRE, SRUUF, SSBK, SSD, STEP, STN, STNE, STNG, STRA, SWBI, SYF, TCOM, TDG, TDW, TECH, TER, TFPM, TGLS, THC, TK, TKR, TM, TMDX, TNK, TNP, TOL, TPH, TRI, TRIP, TRMB, TRMD, TRNS, TRV, TSN, TSQ, TTEK, TW, TXRH, TYL, UAL, UBS, UEC, UFPT, UMBF, UNP, URA, URBN, URG, URNJ, URNM, USLM, VCTR, VECO, VEEV, VIPS, VITL, VIV, VLGEA, VRRM, VRT, VSEC, VST, VTR, VTSI, WAB, WABC, WAL, WELL, WES, WFRD, WHD, WMB, WMS, WMT, WOR, WPM, WRK, WS, WSM, WST, WTFC, WTS, WWD, XHB, XLC, XLP, XLRE, XLU, XLY, XME, XYL, ZBRA
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 – 2024-05-02
AAPL.NE, AAV.TO, ACO/X.TO, AEM.TO, AFM.V, AIDX.TO, ALA.TO, AMZN.NE, AQN.TO, ARG.TO, ARIS.TO, ARX.TO, ATZ.TO, BAM/A.TO, BAMR.TO, BBD/B.TO, BEP/UN.TO, BEPC.TO, BFM.V, BIPC.TO, BIR.TO, BK.TO, BLX.TO, BN.TO, BNRE.TO, CAD.V, CAE.TO, CAR/UN.TO, CCO.TO, CEU.TO, CHE/UN.TO, CHP/UN.TO, CIA.TO, CLP/UN.TO, CMG.TO, COST.NE, CRT/UN.TO, CSH/UN.TO, DGHI.V, DLCG.TO, DML.TO, DPM.TO, DRDR.TO, DRX.TO, DTC.CA, E.TO, EFN.TO, ELE.V, ENB.TO, ETHC.NE, EU.V, EXE.TO, FCU.TO, FFN.TO, GFL.TO, GLXY.TO, GOOG.NE, GRT/UN.TO, GSY.TO, GTE.TO, GUD.TO, GWO.TO, HR/UN.TO, HTL.TO, IBAT.CA, IGM.TO, IMG.TO, INE.TO, ISO.V, JAG.TO, KEL.TO, KRR.TO, KSI.TO, L.TO, LABZ.NE, LBS.TO, META.NE, MKO.V, MRT/UN.TO, MRU.TO, NA.TO, NANO.TO, NFLX.NE, NGEN.V, NGT.TO, NVA.TO, NVDA.NE, NXE.TO, NXR/UN.TO, ONC.TO, ONEX.TO, PET.TO, PFE.NE, PIF.TO, PMZ/UN.TO, PNG.V, POU.TO, POW.TO, PPL.TO, PRL.TO, PRMW.TO, PRU.TO, PRV/UN.TO, PSI.TO, PVT.V, PXT.TO, PYPL.NE, QIPT.TO, QSR.TO, QTRH.TO, RCK.V, REI/UN.TO, RML.V, RUS.TO, RY.TO, SAP.TO, SGD.V, SIA.TO, SIS.TO, SLI.V, SLS.TO, SRU/UN.TO, STN.TO, SXP.TO, TF.TO, TFPM.TO, TRI.TO, TRP.TO, TRUL.CA, TSU.TO, U/U.TO, U/UN.TO, VHI.TO, VMC.V, WFG.TO, WIFI.CA, WILD.TO, WN.TO, WPK.TO, WSP.TO, WUC.CA, X.TO, XTC.TO
