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 Retreat Deepens Amidst Bond Yield Reversal
The stock market faced further declines on Thursday, accompanied by a retreat in bond yields. Despite the downturn, opportunities abound for astute stock pickers. Those adhering to systematic trading strategies likely outperformed index followers as volatility persisted. Salesforce’s disappointing earnings report triggered substantial selling pressure, plummeting the Dow by approximately 352 points and marking it as the S&P 500’s poorest performer.
Salesforce’s troubles cast a shadow over the market’s potential. The 2-year Treasury note yield receded to 4.927%, while the 10-year yield dipped to 4.554%, driven by lackluster economic data. This signals the possibility of interest rate cuts later this year. Attention on Friday will be focused on the release of the personal consumption expenditures price index, which could sway market sentiment depending on whether it indicates easing inflationary pressures or persistent inflation.
10-Year US Treasury Yield
The Dow Jones Industrial Average experienced a 0.9% decline, shedding 330 points, while the S&P 500 and the Nasdaq Composite dropped by 0.6% and 1.1%, respectively. However, both indexes are fighting to maintain their 21-exponential day moving average. The Russell 2000 managed to gain 0.8% as it bounced higher from a support line.
Dow Jones Industrial Average – Daily Chart
S&P 500 – Daily Chart
Nasdaq – Daily Chart
Russell 2000 (ETF) – Daily Chart
Market breadth showed signs of improvement following Wednesday’s losses, suggesting potential buying opportunities despite the market’s continued pullback. Nonetheless, investors should remain vigilant and be ready to reduce exposure if this pullback turns into a broader market downturn. Keeping watchlists and exit strategies updated is essential in such volatile times. As Alexander Elder wisely stated, “The goal of a successful trader is to make the best trades. Money is secondary.” This sentiment is echoed by Ed Seykota’s cautionary advice: “If you can’t take a small loss, sooner or later you will take the mother of all losses.” Now, onto the daily setups.
US Daily Setups
ASPI – ASP Isotopes Inc.
ASP Isotopes continues consolidating above its recent breakout line and near its 52-week high. Monitor to see if price action can continue to trend above its upward-sloping moving averages.
LINK TO CHART – https://schrts.co/nujPTFgK
CCAP – Crescent Capital BDC Inc.
Crescent Capital appears to be setting up for a potential 52-week high breakout.
LINK TO CHART – https://schrts.co/YrycuwMZ
NR – Newpark Resources, Inc.
Newpark Resources is touching a new 52-week high as price action attempts to break out from a significant multi-month consolidation pattern.
LINK TO CHART – https://schrts.co/arqwUIsv
NU – Nu Holdings Ltd.
Nu Holdings continues to set up for a potential 52-week high breakout.
LINK TO CHART – https://schrts.co/TZUqUhdd
TJX – TJX Cos., Inc.
TJX is attempting to break out from its recent trading range.
LINK TO CHART – https://schrts.co/DhJsmnFK
UNM – Unum Group
Unum Group has consolidated to the apex of a continuation pattern located below its 52-week high. Monitor for any potential breakout signals.
LINK TO CHART – https://schrts.co/gkNXIRui
Canadian Daily Setups
ARX.TO – ARC Resources Ltd.
ARC Resources is consolidating toward the apex of a continuation pattern located below its 52-week high. Monitor for any potential breakout signals.
LINK TO CHART – https://schrts.co/egkYGDju
BLX.TO – Boralex, Inc.
The Boralex setup has just broken out from the bottom pattern that we’ve been highlighting.
LINK TO CHART – https://schrts.co/egYfVJya
GSY.TO – goeasy Ltd.
goeasy is consolidating above its recent breakout line while the PPO momentum indicator attempts to perform a bullish cross above the zero line. Monitor for any signs of upside momentum.
LINK TO CHART – https://schrts.co/pknnEGZe
LGO.TO – Largo Resources Ltd.
Largo Resources continues to move higher from the bottom pattern that was recently highlighted.
LINK TO CHART – https://schrts.co/TMUeNQsr
PSI.TO – Pason Systems, Inc.
Pason Systems continues to perform positively in a weak market tape, as price action is now attempting to break out above a level of horizontal resistance.
LINK TO CHART – https://schrts.co/EAGTBVRH
TOI.V – Topicus.com Inc.
Topicus is attempting to break out from a continuation wedge or a large bullish flag continuation pattern.
LINK TO CHART – https://schrts.co/bbgZuZHm
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 – 2024-05-30
AA, AAPL, ABBNY, ABR, ACA, ADEA, ADI, AEM, AER, AES, AFL, AGI, AGO, AI, AIG, AIZ, AJG, ALV, AMCR, AMK, AMKR, AMP, AMT, APO, APTV, ARCH, ARES, ARLO, ARLP, ASML, ASND, ASPI, ASPN, ASR, ASTH, ATGE, ATI, ATR, AU, AVAV, AXP, AXS, AXTA, AZEK, BABA, BAESY, BALL, BBVA, BBWI, BBY, BCO, BCSF, BECN, BHE, BITO, BITW, BJ, BK, BKNG, BKR, BLBD, BLD, BMA, BPOP, BRC, BRK/B, BSX, BUR, BURL, BV, BVN, CACI, CAH, CAKE, CARG, CAVA, CB, CBT, CCAP, CCB, CCEP, CCI, CCJ, CEG, CENX, CGBD, CHRD, CHRW, CHTR, CIB, CLH, CM, CMRE, CMS, CNA, CNO, CNP, CNX, CNXN, COOP, COST, CPLP, CPNG, CR, CROX, CRTO, CSL, CTRA, CVX, CW, CXT, D, DAC, DB, DD, DECK, DFH, DHI, DHT, DLR, DOC, DOCN, DQ, DRS, DTE, DTM, DY, EAT, EBAY, EDR, EG, EGO, EGY, EHC, EIX, EME, EMN, ENPH, ENVA, EPAC, EQH, EQT, ESOA, ESS, ET, ETN, ETRN, EVR, EVRG, EXPD, EZPW, FANG, FBP, FE, FLEX, FLR, FN, FORM, FOX, FRPT, FSS, FTAI, FTI, GBTC, GBX, GD, GDRZF, GDX, GDXJ, GE, GEN, GEO, GIII, GIL, GLP, GLRE, GLW, GMED, GNRC, GNTX, GOLF, GPI, GPOR, GPS, GRMN, GRPN, GRVY, GTLS, HASI, HAYW, HCA, HCC, HD, HEI, HIG, HIMS, HLI, HLX, HMC, HMY, HNI, HON, HOOD, HPQ, HQY, HTGC, HWKN, IAG, ICLR, IDCC, IDT, IESC, IFF, IGIC, IMO, ING, INSW, IRM, ITA, ITB, IWM, JCI, JKS, JNPR, JPM, KAI, KALU, KB, KBH, KDP, KEX, KGC, KIM, KKR, KNTNF, KTOS, L, LAUR, LBRT, LEN, LEU, LEVI, LHX, LII, LLY, LMB, LNC, LOGI, LOVE, LPG, LPX, LULU, LZB, MAIN, MATX, MCHP, MCK, MCY, MHK, MHO, MLI, MLR, MMC, MMM, MNSO, MO, MOD, MPTI, MRNA, MSI, MTCH, MTDR, MTH, MTRN, MTX, MUFG, NEE, NEM, NHC, NKE, NLR, NMIH, NMM, NOG, NR, NRG, NSSC, NTRA, NU, NVS, NWS, NWSA, OBDC, OC, ODFL, OFG, OII, OKE, OLED, OLLI, OR, OSIS, OTIS, OTTR, OWL, PAAS, PATK, PCG, PDD, PEG, PFE, PFSI, PGR, PHM, PIPR, PJT, PKG, PLD, PLMR, PLTR, PNTG, PNW, POWW, PPL, PR, PRIM, PRMW, PRU, PWR, RBC, REG, REGN, REVG, RGA, RL, RMD, RNR, ROAD, ROCK, ROL, RRC, RTX, RUSHA, RYAN, SA, SANM, SBAC, SBLK, SBSW, SCS, SEM, SIL, SILJ, SIMO, SKT, SKWD, SKX, SLM, SM, SN, SNX, SO, SPG, SSBK, STEP, STNG, STRA, STRL, SWBI, SWN, T, TAN, TDG, TDW, TEL, TEVA, TGT, THR, TJX, TK, TMUS, TNK, TNP, TOL, TPH, TPR, TPX, TRGP, TRIN, TRMD, TRN, TSLA, TTWO, TX, TXN, TXRH, UBS, UHS, UNM, UPBD, URA, URBN, URG, URNJ, USAC, USAP, UTHR, VCTR, VEL, VIST, VITL, VRN, VRSK,VRTX, VSEC, VST, VTR, VZ, WAB, WBD, WDOFF, WELL, WMB, WMS, WRB, WRK, WS, WSM, WWD, XLU, XME, XYL, YPF, ZIM
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 – 2024-05-30
AAPL.NE, AAV.TO, ABX.TO, AEM.TO, AGF/B.TO, AGI.TO, AIDX.TO, AIM.TO, ALS.TO, AMC.TO, AOI.TO, APM.V, ARIS.TO, ARTG.V, ARX.TO, ASCU.TO, ATH.TO, ATRL.TO, BBD/B.TO, BDT.TO, BEP/UN.TO, BEPC.TO, BIR.TO, BITF.TO, BK.TO, BLDP.TO, BLX.TO, BRAG.TO, BRK.NE, BRVO.V, BTB/UN.TO, BTE.TO, BTO.TO, CCO.TO, CEU.TO, CFX.TO, CHE/UN.TO, CHR.TO, CM.TO, COV.V, CPX.TO, CRDL.TO, CRRX.TO, CXB.TO, DF.TO, DFN.TO, DFN/PA.TO, DII/B.TO, DLCG.TO, DNTL.TO, DOL.TO, DR.TO, DRX.TO, DV.V, E.TO, ECO.TO, EDV.TO, EFN.TO, EFR.TO, EIT/UN.TO, ELD.TO, EQB.TO, ERF.TO, EU.V, FCU.TO, FDR.V, FFN.TO, FFN/PA.TO, FIL.TO, FNV.TO, FRU.TO, FTN.TO, GIL.TO, GLO.TO, GLXY.TO, GOOS.TO, GRA.TO, GSY.TO, GTWO.TO, GXP.CA, HD.NE, HITI.V, HMR.V, IFC.TO, INE.TO, ITR.V, K.TO, KEL.TO, KNT.TO, KTN.V, L.TO, LABZ.NE, LBS.TO, LEV.TO, LFE.TO, LGO.TO, LMN.V, LNR.TO, LUG.TO, MND.TO, MRU.TO, MTA.V, MX.TO, NA.TO, NFI.TO, NG.TO, NGD.TO, NGEX.TO, NGT.TO, NOU.V, NPI.TO, NTR.TO, NUAG.TO, NWH/UN.TO, OGC.TO, OGN.V, OLA.TO, OR.TO, OSK.TO, OVV.TO, PAAS.TO, PALI.V, PD.TO, PFE.NE, PLZ/UN.TO, POU.TO, POW.TO, PPTA.TO, PRYM.TO, PSI.TO, PSK.TO, PYPL.NE, RCI/B.TO, REAL.TO, RML.V, RUP.TO, RY.TO, SBC.TO, SCR.TO, SEA.TO, SEI.V, SES.TO, SGY.TO, SOIL.TO, STC.TO, TA.TO, TCL/A.TO, TGO.TO, TOI.V, TOU.TO, TPZ.TO, TSLA.NE, TVE.TO, TXG.TO, UGE.V, VGCX.TO, VRNO.NE, WDO.TO, WEB.V, WEX.V, WN.TO, WPM.TO, WUC.CA, ZEFI.NE
