SYS Research – Daily Report – Tuesday, April 2, 2024

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.

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SYS Daily Report

Treasury Yields Surge, Prompting Stock Retreat

The relentless ascent of the 10-year Treasury note’s yield continues to wreak havoc. It reached its pinnacle for the year and, in turn, cast a shadow over major indexes, as foreshadowed in our previous report.

The Dow declined 395 points, marking a 1% drop, while the S&P 500 and the Nasdaq Composite followed suit with decreases of 0.7% and 1%, respectively. Notably, this marked the S&P 500’s second consecutive day of losses. Investors are now grappling with the prospects of future rate adjustments: whether there will be delayed cuts, fewer cuts than anticipated, or the increasingly plausible scenario of no cuts throughout the year.

Dow Jones Industrial Average – Daily Chart

S&P 500 – Daily Chart

Nasdaq – Daily Chart

Indications that inflation may persist at a level less desirable for the Federal Reserve are propelling long-term interest rates upward. Yields on both 10- and 30-year Treasurys surged to their highest points since November. The 10-year benchmark yield concluded the session at 4.365%.

10-Year US Treasury Yield

Market breadth painted a grim picture, with decliners outnumbering advancers on both exchanges by nearly 3-to-1. Furthermore, the red-light/green-light breadth system is edging towards a bearish cross signal, signaling potential further downturns.

The Red-Light/Green-Light Breadth System

As we dive into today’s setups, let’s remember Benjamin Graham’s advice: “Investment management is all about managing risks, not just chasing returns.”

US Daily Setups

MTSI – MACOM Technology Solutions Holdings, Inc.

MACOM Technology Solutions is currently setting up at a low point following its recent high. Monitor closely for any potential breakout signals that may suggest a continuation of the uptrend.

LINK TO CHART – https://schrts.co/SQSNgIyj

 

QFIN – 360 Finance Inc.

360 Finance is showing signs of attempting to break out from a significant multi-year consolidation/continuation triangle. It’s crucial to monitor closely for any indications of continued upside strength.

LINK TO CHART – https://schrts.co/PwPIcRwG

 

SLV – iShares Silver Trust

The price of silver and the iShares Silver Trust appears to be finally breaking out from the consolidation triangle we’ve been tracking for months.

LINK TO CHART – https://schrts.co/wSacrIAh

 

SRUUF – Sprott Physical Uranium Trust

The Sprott Physical Uranium Trust appears to be setting up below a horizontal resistance line. Monitor closely for any signs of potential breakout signals.

LINK TO CHART – https://schrts.co/fQafEZse

 

TAP – Molson Coors Brewing Co.

Molson Coors Brewing is currently consolidating in the form of a bullish pennant continuation pattern.

LINK TO CHART – https://schrts.co/mJErXvrt

 

UEC – Uranium Energy Corp.

Uranium Energy seems to be positioned below a significant horizontal resistance line following consolidation in the shape of a rounded bottom. Keep a close eye out for any potential breakout signals.

LINK TO CHART – https://schrts.co/fJBFdtqt

 

Canadian Daily Setups

CCO.TO – Cameco Corp.

Cameco had another strong day, displaying notable upside strength.

LINK TO CHART – https://schrts.co/kNcGrsVv

 

FTT.TO – Finning Intl, Inc.

Finning is beginning to break out above the pattern we’ve been tracking.

LINK TO CHART – https://schrts.co/kQRgTQPd

 

PHX.TO – PHX Energy Services Corp.

PHX Energy Services appears to be attempting to continue its uptrend with a breakout from a continuation pattern.

LINK TO CHART – https://schrts.co/jkyTGvRq

 

PSLV.TO – Sprott Physical Silver Trust

The price of silver and the Sprott Physical Silver Trust appears to be finally breaking out from the consolidation triangle we’ve been tracking for months.

LINK TO CHART – https://schrts.co/DvHPHVqN

 

TCW.TO – Trican Well Service Ltd.

Trican Well Service appears to be set up near the apex of a significant multi-month consolidation/continuation pattern. Monitor closely for any potential breakout signals.

LINK TO CHART – https://schrts.co/YuFkAPeS

 

WPM.TO – Wheaton Precious Metals Corp.

Wheaton Precious Metals is inching closer to a potentially significant breakout.

LINK TO CHART – https://schrts.co/AmnsvNYA

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 – 2024-04-02

ACMR, ADP, AEE, AEP, AIG, ALAR, ALG, ALSN, AM, APP, ARIS, AROC, ASTH, AU, BBVA, BCSF, BG, BK, CAT, CBOE, CBT, CCJ, CEG, CGBD, CHRD, CLS, CME, CMG, CMI, CMPR, CMS, CNM, COP, COPX, COR, CPA, CPAY, CPG, CR, CRBG, CRM, CSTM, CTLT, CTRA, DDOG, DINO, DIS, DK, DMLP, DNN, DOCU, DOW, DPZ, DTE, DTM, DUK, DVN, E, ED, EDR, EGO, EGY, EME, EMN, ENLC, EOG, EPD, ES, ET, ETN, ETR, EVRG, EW, EXC, FANG, FCX, FE, FIS, FLS, FTI, FTNT, FTV, GBDC, GBX, GCT, GDX, GDXJ, GEL, GEOS, GIC, GIFI, GIS, GLD, GNTX, HCI, HEAR, HESM, HLX, HMY, HQY, HRL, HSY, HTGC, IBKR, ICE, IESC, IGIC, IMCR, IMO, ING, ITRI, JCI, K, KGC, KHC, KNTK, KNTNF, KR, LBRT, LLY, LNT, LYB, LYV, MA, MAIN, MCY, META, MKC, MPC, MPLX, MRO, MTSI, NEM, NGS, NI, NOA, NOG, NS, NVT, NX, NXE, OBDC, OIH, OKE, ORLY, OSK, OXY, PAA, PAGP, PARR, PAYX, PBR/A, PGR, PM, PPC, PSX, PWP, PXD, QFIN, REPYY, REVG, REX, RJF, RRC, RTX, SA, SCCO, SCS, SFM, SHEL, SKWD, SLV, SM, SMR, SNX, SO, SPOT, SRE, SRUUF, STZ, T, TAP, TCOM, TDW, TEX, TRAK, TRGP, TRIN, TRIP, TRMD, TSQ, TTE, TTEK, UBER, UBS, UEC, UNM, URA, URNJ, URNM, USAC, USO, VCTR, VERX, VIPS, VITL, VLO, VNOM, VRRM, VRT, VRTS, VZ, WAB, WEC, WES, WEX, WFRD, WIX, WMB, WPM, WWD, XLE, XLU, XOM, XOP, YPF, YUM

 

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 – 2024-04-02

AAUC.TO, AAWH/U.CA, ABX.TO, ACB.TO, AGI.TO, AKG.TO, AMC.TO, AOI.TO, ARE.TO, ASCU.TO, ATRL.TO, AYR/A.CA, BDT.TO, BNE.TO, BRAG.TO, BRVO.V, BTE.TO, BYD.TO, CCO.TO, CEE.TO, CEF.TO, CEU.TO, CHR.TO, CIA.TO, CJT.TO, CKG.V, CLS.TO, CMG.TO, CNL.TO, CNQ.TO, CPG.TO, CR.TO, CRM.NE, CS.TO, CTS.TO, CVE.TO, CXB.TO, DBM.TO, DML.TO, DOO.TO, EFR.TO, ELD.TO, EQB.TO, EQX.TO, ERF.TO, ERO.TO, ETL.V, EU.V, FAR.TO, FCR/UN.TO, FEC.TO, FM.TO, FOM.TO, FR.TO, FRU.TO, FTS.TO, FTT.TO, FVI.TO, G.TO, GAU.TO, GEO.TO, GGD.TO, GMIN.TO, GTE.TO, HBM.TO, HITI.V, HPS/A.TO, HWX.TO, IAG.TO, IMCC.CA, IMO.TO, IPCO.TO, IPO.TO, JAG.TO, K.TO, KEY.TO, KRR.TO, KTN.V, LCX.V, LLY.NE, LNR.TO, LUN.TO, MAG.TO, MATR.TO, MAU.V, MDNA.TO, MEG.TO, MMED.NE, MND.TO, MUX.TO, MVRS.NE, MX.TO, NGT.TO, NNRG.NE, NOA.TO, NUAG.TO, NVA.TO, NWH/UN.TO, NXE.TO, OBE.TO, OSK.TO, OVV.TO, PAAS.TO, PD.TO, PET.TO, PHX.TO, PHYS.TO, PLSR.V, POU.TO, PRMW.TO, PRQ.TO, PRYM.TO, PSI.TO, PSLV.TO, PTI/UN.TO, PTM.TO, PVT.V, RAY/A.TO, RBY.TO, REG.V, RML.V, RUP.TO, SCR.TO, SDE.TO, SEA.TO, SES.TO, SGD.V, SGY.TO, SII.TO, SJ.TO, SKE.TO, SSL.TO, SSRM.TO, SU.TO, SVM.TO, SXP.TO, TCW.TO, TER.CA, TKO.TO, TNT/UN.TO, TOI.V, TSND.TO, TUO.V, TVE.TO, TVK.TO, U/U.TO, UBER.NE, URE.TO, VGCX.TO, VLE.TO, VMC.V, VZ.NE, VZLA.V, WCP.TO, WEED.TO, WIFI.CA, WPM.TO, WRN.TO, WVM.V, XOM.NE, ZDC.V

 

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