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
Stocks Surge with AI Back in Focus, Inflation Eases, and TSX Reaches Record Highs
The stock market extended its winning streak on Thursday as major indexes rallied in response to fresh inflation data and economic optimism. The S&P 500 gained 0.8%, while the tech-heavy Nasdaq Composite rose by 1%, reclaiming its 50-day moving average. The Dow Jones Industrial Average added 235 points, or 0.6%. This marks the fourth consecutive day of gains for both the S&P 500 and the Nasdaq, driven by investor confidence ahead of next week’s anticipated Federal Reserve interest rate cuts.
S&P 500 – Daily Chart
Nasdaq – Daily Chart
Dow Jones Industrial Average – Daily Chart
Thursday’s producer price index (PPI) showed a 0.2% rise in August, aligning with economists’ expectations. Despite a hotter-than-expected core inflation reading earlier in the week, the market shrugged off concerns, buoyed by the prospect of a quarter-point interest rate cut. Traders also raised the probability of a larger 0.5% cut next week, with odds rising from 14% to 31%. Meanwhile, the CBOE Volatility Index (VIX) remained subdued, hovering below 17 after recent spikes.
Large-cap technology stocks also posted strong gains, with Nvidia, Meta Platforms, and Alphabet leading the way. Nvidia, in particular, surged 2.1% as it moved back above its 50-day moving average, signaling renewed momentum in AI-driven tech stocks. After months of lagging, the AI sector reasserts itself, with several companies like Nvidia, Broadcom, and Arista Networks flashing fresh buy signals.
Small-cap stocks, represented by the Russell 2000, outperformed, rising 1.3%. Investors are optimistic that smaller stocks, which have been weighed down by higher interest rates, could benefit from a shift in Fed policy.
Russell 2000 (ETF) – Daily Chart
Gold also had a standout session, breaking out from the patterns we highlighted in Tuesday’s report, with prices rising more than 1% to hit a record high. Spot gold climbed 1.7% to $2,554.05 per ounce, while U.S. gold futures settled 1.5% higher at $2,580.60. Expectations of an interest rate cut drove the surge, as recent U.S. economic data signaled a slowdown. With markets pricing in a 73% chance of a 25-basis-point cut next week, gold remains an appealing safe haven for investors. Other precious metals followed suit, with palladium gaining 4.1% and silver rising 3.7%. Keep the GLD, GDX, GDXJ, SIL, and SILJ ETFs on your radar, and trade accordingly while also looking for your favorite precious metal names in the scanner results.
Gold – Daily Chart
In the energy sector, oil prices surged as Hurricane Francine impacted Gulf of Mexico production, shutting down 40% of output. West Texas Intermediate (WTI) crude futures rose 2.5% to settle at $68.97 per barrel as it attempted to put in a bottom, while Brent crude increased by 1.9% to $71.97. Despite the International Energy Agency lowering its demand growth forecast, supply disruptions bolstered prices. Analysts noted that the oil market remains balanced, supported by ongoing OPEC+ production cuts, though future volatility is expected.
Crude Oil – Weekly Chart
The Toronto Stock Exchange (TSX) reached a record high, closing at 23,475.14, up 263.97 points or 1.1%. This surge was largely fueled by a rally in gold prices, which climbed 1.8%, and broader strength in the materials sector, which jumped 4.1%. Precious metals miners and fertilizer companies led the charge, benefiting from increased demand for safe-haven assets. Investors grew increasingly confident in the potential for a “soft landing” for the U.S. economy, boosting market sentiment on both sides of the border. All ten major sectors on the TSX finished higher, with industrials and energy adding 1.1% and 0.8%, respectively.
TSX – Daily Chart
As the Federal Reserve prepares for its policy meeting next week, markets will closely monitor the size and scope of the anticipated rate cuts. While some analysts favor a cautious 0.25-point cut, others argue that the Fed should move more aggressively to counter potential economic slowdowns. Regardless, market participants remain optimistic, with a growing sense that inflationary pressures are cooling without derailing growth.
In conclusion, Thursday’s trading session reflected broad-based optimism, with gains across key sectors, including technology, energy, and materials. AI stocks, in particular, are regaining strength, positioning themselves as market leaders once again. As inflation data and Federal Reserve actions shape market expectations, investors are preparing for potential buying opportunities, particularly in stocks showing strong technical recoveries as setups appear and activate. “In the stock market, opportunities multiply as they are seized.” — Sun Tzu. Now, onto the daily setups.
US Daily Setups
ARGT – Global X MSCI Argentina ETF
Global X MSCI Argentina ETF continues to trend above its upward-sloping moving average.
LINK TO CHART – https://schrts.co/USjjHUHu
BIPC – Brookfield Infrastructure Corp
Brookfield Infrastructure is attempting to move higher from a continuation pattern, with price action trending above its upward-sloping moving averages.
LINK TO CHART – https://schrts.co/rTfwwjgf
BYRN – Byrna Technologies Inc
Byrna Technologies is now pushing toward a new 52-week high from its setup, which we highlighted at approximately $10.50.
LINK TO CHART – https://schrts.co/UmdMnvbN
GLD – SPDR Gold Shares
The SPDR Gold Shares ETF is breaking out to a new all-time high.
LINK TO CHART – https://schrts.co/CAeJthrx
META – Meta Platforms, Inc.
Meta Platforms is setting up on the right side of a significant multi-month consolidation area, just below recent highs, as the PPO momentum indicator curls higher from the zero line.
LINK TO CHART – https://schrts.co/ATQTdgzY
MSFT – Microsoft Corp.
Microsoft is attempting to move higher from a wedge. Note the large volume-by-price bars on the left side of the chart and the horizontal resistance line. Monitor to see if price action can break through.
LINK TO CHART – https://schrts.co/kKBRgdSv
NEM – Newmont Corporation
Newmont is breaking higher from a bullish flag continuation pattern.
LINK TO CHART – https://schrts.co/KKadfUxA
XHB – SPDR S&P Homebuilders ETF
The SPDR S&P Homebuilders ETF appears to be setting up as homebuilders light up the scanner results. Monitor for signs of upside momentum, which may continue the uptrend.
LINK TO CHART – https://schrts.co/hztGeKiE
Canadian Daily Setups
AGI.TO – Alamos Gold Inc.
Alamos Gold and the other gold mining stocks mentioned in Tuesday’s setups are breaking out from their bullish flag patterns.
LINK TO CHART – https://schrts.co/dqCvBASF
BEPC.TO – Brookfield Renewable Corporation
Brookfield Renewable started appearing on scan results yesterday, and today, price action is breaking out from its consolidation/continuation pattern as the PPO momentum indicator attempts to cross above the zero line.
LINK TO CHART – https://schrts.co/dRpFZgyD
CXB.TO – Calibre Mining Corp.
Calibre Mining is now breaking higher from the bullish flag retest we’ve been highlighting.
LINK TO CHART – https://schrts.co/xMyieJHq
MFC.TO – Manulife Financial Corp.
Manulife Financial is breaking out from a consolidation area to reach a new high.
LINK TO CHART – https://schrts.co/UnTgriMd
VNP.TO – 5N Plus Inc.
5N Plus continues to move steadily above its upward-sloping moving average following its consolidation breakout.
LINK TO CHART – https://schrts.co/rudnKAmA
WPM.TO – Wheaton Precious Metals Corp.
Wheaton Precious Metals is approaching the apex of a consolidation/continuation pattern, with price action positioned just below horizontal resistance and the upper trendline. The PPO momentum indicator is attempting to turn higher from the zero line.
LINK TO CHART – https://schrts.co/gcUyfsHv
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
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 – 2024-09-12
AAON, ABBNY, ABCB, ABT, ACA, ACGL, ACIW, ACM, ACVA, ADBE, ADMA, ADP, ADSK, AEM, AES, AFRM, AGI, AIT, AJG, ALC, ALL, ALLE, AM, AMGN, AMRK, AMZN, ANET, AON, APD, APP, ARE, ARES, ARGT, ASTH, ATAT, ATI, AVAV, AVB, AVGO, AVY, AWI, AWK, AXON, AXP, AXS, AYI, BAESY, BALL, BAM, BAP, BAX, BBW, BBY, BCC, BCO, BFAM, BIPC, BK, BKNG, BLBD, BLDR, BLK, BLND, BMA, BMI, BSIG, BSX, BURL, BV, BWIN, BX, BXP, BYRN, CACI, CARG, CARR, CASH, CASY, CAT, CAVA, CB, CBRE, CBT, CCEP, CCI, CCL, CCS, CDNA, CEG, CFB, CHKP, CHWY, CI, CIEN, CINF, CL, CLBT, CLH, CLX, CMG, CMI, CMS, CNK, CNO, CNX, CNXN, COHR, COLL, COO, COOP, COR, CORT, COST, CPNG, CPRX, CPT, CR, CRH, CRS, CSWC, CSWI, CTAS, CTLT, CTVA, CUK, CVLG, CVLT, CVNA, CW, CYBR, DCO, DD, DECK, DEFTF, DFIN, DGX, DHI, DHR, DHT, DKNG, DLR, DOC, DOCS, DOCU, DOLE, DORM, DOV, DRS, DTE, DTM, DUOL, DVA, EBAY, ECL, EDR, EGO, EHC, ELMD, EME, EMN, ENLC, ENSG, EPAC, EQIX, EQR, ERIE, ERJ, ERO, ESEA, ESOA, ESQ, ESS, ET, ETN, ETR, EVRG, EXP, EXPE, EXPO, EXR, FAST, FFIV, FI, FICO, FIS, FITB, FIX, FNF, FOUR, FRBA, FRPT, FSV, FTAI, GD, GDDY, GDX, GDXJ, GE, GEHC, GEN, GENI, GGAL, GILD, GL, GLBE, GLD, GLRE, GLW, GOLD, GPK, GRBK, GRMN, GSHD, GVA, GWRE, GWW, HALO, HASI, HBB, HCA, HCI, HD, HEI, HIG, HLI, HLNE, HLT, HNI, HOOD, HOV, HROW, HTBI, HTLF, HUBB, HWKN, HWM, IAG, IBCP, IBKR, IBM, IBN, ICE, ICFI, IDCC, IDR, IDXX, IFF, IGV, IHI, IIPR, INFY, ING, INTU, INVH, IOT, IP, IRM, ISRG, IT, ITA, ITB, ITGR, IWF, JCI, JEF, JKHY, JNPR, K, KARO, KBH, KDP, KEY, KGC, KIM, KKR, KNF, KNTK, KNTNF, KO, KR, KRNT, KTOS, LDOS, LEN, LII, LIN, LLY, LMAT, LMB, LMT, LNTH, LNW, LOB, LOW, LPX, LQDT, LRN, LTH, LUV, MA, MAG, MAMA, MAS, MC, MELI, MET, META, MFC, MHK, MHO, MKC, MKTX, MLI, MLNK, MMM, MMYT, MNDY, MOD, MOG/A, MPLX, MPWR, MSFT, MSI, MTG, MTH, MUSA, NCLH, NDAQ, NEE, NEM, NFLX, NI, NIC, NMM, NMRK, NOW, NSC, NTRA, NTRS, NU, NVDA, NVO, NVS, NWPX, OKE, OLED, OLLI, OMC, ONON, OR, ORCL, ORLY, ORRF, OSCR, PAM, PANW, PATK, PAYX, PBA, PCG, PCT, PEG, PFSI, PH, PHM, PIPR, PJT, PKG, PLNT, PLTR, PNC, PNR, PNW, PODD, POWL, PPL, PRCT, PRIM, PRK, PRMW, PSA, PSN, PTGX, PWR, PYPL, QCRH, QQQ, RBA, RBLX, RCL, RDNT, REGN, RELX, REYN, RGA, RL, ROAD, ROL, ROST, RPM, RSG, RSI, RSP, RTX, RYAN, SA, SAFE, SAP, SBUX, SE, SEIC, SEZL, SF, SFM, SHAK, SHOO, SHW, SIL, SILJ, SKT, SKWD, SLV, SN, SNCR, SPB, SPFI, SPG, SPGI, SPOT, SPY, SSNC, STEP, STRL, SWK, SYK, T, TDG, TDS, TEVA, TFPM, TGLS, TGTX, THC, TIGO, TILE, TJX, TK, TKO, TLN, TMHC, TMUS, TOL, TORXF, TOST, TPG, TPH, TPR, TRAK, TRGP, TRI, TRMB, TRNO, TRU, TRV, TSCO, TSLA, TSM, TT, TTD, TVTX, TW, TZOO, UAL, UDR, UHS, UMBF, UMH, UNM, URI, USAP, USFD, USLM, VCTR, VCYT, VGT, VIRT, VRNS, VRT, VST, VTRS, VZ, WAB, WCN, WDOFF, WELL, WING, WLDN, WMB, WMT, WPM, WRB, WTW, XEL, XHB, XLC, XLF, XLI, XLK, XLP, XLRE, XLU, XLY, YOU, YPF, Z, ZETA, ZG, ZIM, ZTS, 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 – 2024-09-12
AAUC.TO, AAV.TO, ABRA.V, ABX.TO, ACO/X.TO, ADBE.NE, AEM.TO, AEP.V, AFM.V, AGI.TO, AI.TO, AIM.TO, ALA.TO, ALS.TO, ALV.V, AMZN.NE, AOI.TO, AP/UN.TO, APM.V, APR/UN.TO, ARCH.V, ARG.TO, ARIS.TO, ARR.TO, ARTG.V, ARX.TO, ASCU.TO, ASM.TO, ATH.TO, ATRL.TO, ATZ.TO, AVGO.NE, AW/UN.TO, AX/UN.TO, AYA.TO, BAM.TO, BAM/A.TO, BB.TO, BBD/B.TO, BCE.TO, BDI.TO, BEI/UN.TO, BEP/UN.TO, BEPC.TO, BIP/UN.TO, BIPC.TO, BIR.TO, BK.TO, BK/PA.TO, BLN.TO, BLX.TO, BN.TO, BNE.TO, BNS.TO, BOS.TO, BPF/UN.TO, BTB/UN.TO, BTO.TO, CAD.V, CAE.TO, CAR/UN.TO, CAS.TO, CCA.TO, CEE.TO, CF.TO, CG.TO, CHE/UN.TO, CHP/UN.TO, CHR.TO, CIA.TO, CIG.TO, CIGI.TO, CIX.TO, CJT.TO, CMG.TO, CNC.V, CNO.V, CNR.TO, COST.NE, CP.TO, CPH.TO, CPX.TO, CRDL.TO, CRR/UN.TO, CRT/UN.TO, CS.TO, CSH/UN.TO, CSU.TO, CTC/A.TO, CU.TO, CVO.TO, CXB.TO, D/UN.TO, DBM.TO, DC/A.TO, DCBO.TO, DEFI.NE, DF.TO, DFN.TO, DFY.TO, DIS.NE, DIV.TO, DND.TO, DNTL.TO, DPM.TO, DRM.TO, DV.V, DXT.TO, E.TO, ECOR.TO, EDR.TO, EDV.TO, EFL.TO, EIF.TO, EIT/UN.TO, ELD.TO, ELVA.TO, EMA.TO, EMP/A.TO, ENB.TO, ENS.TO, EQX.TO, ERE/UN.TO, ERO.TO, ETG.TO, ETHH.TO, ETL.V, EXE.TO, FC.TO, FCD/UN.TO, FCR/UN.TO, FDR.V, FFH.TO, FFN.TO, FIH/U.TO, FIL.TO, FISH.V, FM.TO, FNV.TO, FRU.TO, FSV.TO, FSZ.TO, FTN.TO, FTS.TO, FTT.TO, FVI.TO, FWZ.V, GASX.V, GATO.TO, GAU.TO, GDV.TO, GEI.TO, GIB/A.TO, GMIN.TO, GOLD.TO, GOOG.NE, GOT.V, GPV.V, GRT/UN.TO, GTWO.TO, GUD.TO, GWO.TO, H.TO, HBM.TO, HPS/A.TO, HR/UN.TO, HUT.TO, IAG.TO, IBM.NE, IFC.TO, IFP.TO, IGM.TO, IMG.TO, INE.TO, ITR.V, IVN.TO, JAG.TO, JOY.TO, JWEL.TO, K.TO, KEI.TO, KEL.TO, KEY.TO, KNT.TO, KRY.V, KTN.V, L.TO, LBS.TO, LCS.TO, LFE.TO, LGC.V, LIF.TO, LLY.NE, LNF.TO, LUG.TO, LULU.NE, LUN.TO, MAG.TO, MAL.TO, MCB.TO, MDA.TO, MDI.TO, META.NE, MFC.TO, MI/UN.TO, MKO.V, MKP.TO, MND.TO, MRE.TO, MRU.TO, MSFT.NE, MTA.V, MTL.TO, MTY.TO, MVRS.NE, NFI.TO, NFLX.NE, NG.TO, NGD.TO, NGT.TO, NICU.V, NOU.V, NVDA.NE, NVEI.TO, NWC.TO, NWH/UN.TO, NXR/UN.TO, ODV.V, OGC.TO, OLA.TO, OR.TO, ORA.TO, OTEX.TO, PAAS.TO, PALI.V, PAY.TO, PBH.TO, PEY.TO, PHYS.TO, PIF.TO, PLZ/UN.TO, PME.TO, PMET.TO, PMZ/UN.TO, PNG.V, POW.TO, PPL.TO, PPTA.TO, PRB.TO, PRMW.TO, PRU.TO, PRV/UN.TO, PSLV.TO, PTK.V, PTO/UN.TO, PYPL.NE, QBR/B.TO, RBA.TO, REAL.TO, REI/UN.TO, RSI.TO, RY.TO, SAP.TO, SBUX.NE, SEA.TO, SGD.V, SGR/UN.TO, SIA.TO, SIL.TO, SJ.TO, SKE.TO, SLF.TO, SOY.TO, SPB.TO, SSL.TO, SSRM.TO, SVM.TO, T.TO, TA.TO, TCL/A.TO, TCS.TO, TD.TO, TECK/B.TO, TF.TO, TFII.TO, TFPM.TO, TIH.TO, TNT/UN.TO, TNZ.TO, TPZ.TO, TRI.TO, TRP.TO, TRUL.CA, TSLA.NE, TSU.TO, TUO.V, TVE.TO, TXG.TO, URE.TO, VET.TO, VHI.TO, VNP.TO, VZLA.V, WCN.TO, WCP.TO, WDO.TO, WED.V, WFG.TO, WGX.TO, WILD.TO, WN.TO, WPM.TO, WSP.TO, X.TO, YGR.TO, ZDC.V
