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 Rise Amidst Yield Pullback
Stocks rallied again today, buoyed by a retreat in bond yields, a trend we hinted at in our recent weekend report. For those active in our Slack Workspace, the phrase “the power of pink” may ring a bell. This refers to a set of proprietary indicators passed down by a mentor years ago. Though their effectiveness might seem inexplicable, they consistently deliver. At its core is the pink moving average, serving as a reliable gauge for pullbacks and breakout signals when positioned above price. Its track record speaks for itself, as demonstrated by Friday’s price action holding firm, which was discussed in the Workspace, followed by markets propelling higher since Monday’s opening bell.
The Power of Pink
The major indices, collectively referred to as the big three, extended their gains for a second consecutive day, a streak unseen since March 21st. The Dow Jones Industrial Average climbed approximately 260 points, marking a 0.7% increase, while the S&P 500 surged by 1.2%, and the Nasdaq Composite outperformed with a 1.6% gain. However, caution is warranted as we approach the underside of the 50-day moving average, coinciding with a horizontal resistance level on both the S&P and the Nasdaq. Should the current bullish momentum persist, this juncture could trigger selling. The Dow, meanwhile, faces potential resistance at current levels. Charts for all indices are marked with arrows and question marks, highlighting these potential levels of resistance. In an uptrend, stocks typically form a succession of bullish flags, whereas a downtrend signals the emergence of bearish flags. Failure to breach the underside of the 50-day moving average would potentially mark the inception of the first bearish flag, offering valuable insights into future market movements and enabling proactive planning. Understanding an expected outcome allows traders to create a trading plan.
Dow Jones Industrial Average – Daily Chart
S&P 500 – Daily Chart
Nasdaq – Daily Chart
In bond markets, the 2-year Treasury yield dipped to 4.922%, while the 10-year yield retreated to 4.598%.
10-Year US Treasury Yield
As we navigate today’s setups, let us recall the timeless wisdom of Jesse Livermore: “The stock market is never obvious. It is designed to fool most of the people, most of the time.” Understanding expected outcomes equips us with the foresight to devise informed strategies, ensuring we are never caught off guard by market fluctuations.
US Daily Setups
ATKR – Atkore International Group Inc.
Atkore attempting to ascend from a bullish flag continuation pattern, while the PPO momentum indicator is setting up at the zero line.
LINK TO CHART – https://schrts.co/MydedMSH
AVAV – AeroVironment Inc.
AeroVironment is showing signs of attempting to move higher from an area of consolidation.
LINK TO CHART – https://schrts.co/bvxsFkqF
CNM – Core & Main Inc.
Core & Main is setting up in the form of a potential bullish flag continuation pattern.
LINK TO CHART – https://schrts.co/cQaHYtAj
HOOD – Robinhood Markets Inc.
Robinhood seems to be setting up in the form of a potential bullish flag continuation pattern, with the PPO momentum indicator also positioned at the zero line.
LINK TO CHART – https://schrts.co/EZsgTYEF
SMR – NuScale Power Corporation
NuScale Power has converged to a tight apex as price action consolidates below a horizontal resistance area. Keep a vigilant watch for any potential breakout signals, especially considering the slight increase in volume today.
LINK TO CHART – https://schrts.co/vpSUwpWE
XHB – SPDR S&P Homebuilders ETF
Homebuilding stocks have prominently appeared in today’s scanner results, with the SPDR S&P Homebuilders ETF attempting to ascend from a bullish flag continuation pattern.
LINK TO CHART – https://schrts.co/TFKxYSGx
Canadian Daily Setups
BN.TO – Brookfield Corp.
It seems that Brookfield is setting up in the form of a bullish flag continuation pattern.
LINK TO CHART – https://schrts.co/VVxuzETZ
CPG.TO – Crescent Point Energy Corp.
It appears that Crescent Point Energy is consolidating in the form of a bullish flag continuation pattern.
LINK TO CHART – https://schrts.co/hbczxKEE
KEY.TO – Keyera Corp
Keyera is attempting a breakout to a 52-week high from a bullish flag continuation pattern.
LINK TO CHART – https://schrts.co/iBRIjVkd
MDA.TO – MDA Ltd.
MDA has consolidated its way to a tight apex of a potential continuation pattern, positioned below its 52-week high. Keep a close watch for potential breakout signals that could indicate the continuation of the uptrend.
LINK TO CHART – https://schrts.co/gqxBrnqz
PEY.TO – Peyto Exploration & Development Corp.
Peyto Exploration is attempting to ascend from a bullish flag continuation pattern.
LINK TO CHART – https://schrts.co/XMXkcyvx
TF.TO – Timbercreek Financial Corp.
Timbercreek Financial is attempting to break out from a bullish flag continuation pattern.
LINK TO CHART – https://schrts.co/MydedMSH
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 – 2024-04-23
A, AAON, ABBNY, ABBV, ABNB, ACA, ACIW, ACM, ADEA, ADI, ADP, AEL, AEM, AEO, AEP, AER, AES, AFRM, AGI, AGM, AGO, AGYS, AIR, AIT, AIZ, AKAM, ALAR, ALB, ALGN, ALKT, ALLE, ALRM, ALTR, ALV, AM, AMAL, AME, AMGN, AMT, AMWD, AMZN, ANF, ANIP, ANSS, AOS, APAM, APG, APH, APO, APOG, APP, APPF, APTV, ARCB, ARCO, ARES, ARIS, ARKK, ARLO, AROC, ASND, ASR, ASTH, ATKR, AVAV, AVB, AVDX, AWI, AX, AXON, AXP, AYI, AZEK, AZZ, B, BAC, BAESY, BAH, BALL, BAM, BAND, BAX, BBVA, BBW, BBWI, BCC, BCO, BCSF, BECN, BITQ, BITW, BJ, BK, BKNG, BKR, BLBD, BLD, BLDR, BLOK, BLX, BMI, BPOP, BRBR, BRC, BRKR, BRO, BRP, BSX, BSY, BUR, BURL, BWA, BWXT, BX, BXP, BYRN, BZ, C, CACI, CAG, CAL, CARG, CARR, CASH, CAT, CBT, CBZ, CCAP, CCJ, CCS, CDRE, CDW, CE, CECO, CEG, CELH, CENT, CENTA, CFB, CFG, CFLT, CGBD, CHCO, CHE, CHKP, CHRD, CIEN, CIVI, CLBT, CLH, CLSK, CLX, CMA, CME, CMI, CMPR, CNM, CNO, COF, COIN, COLL, COO, COOP, COP, COST, CPAY, CPG, CPNG, CPRT, CPT, CR, CRBG, CRH, CRL, CRM, CROX, CRS, CRVL, CRWD, CSL, CSTM, CSWC, CSWI, CSX, CTAS, CTRA, CUBI, CVI, CVLG, CVLT, CVNA, CVX, CW, CXT, CYBR, CZR, D, DAC, DAL, DB, DCI, DDOG, DDS, DECK, DEFTF, DELL, DFH, DFIN, DFS, DGX, DHI, DHT, DINO, DIS, DKS, DLR, DMLP, DOC, DORM, DOV, DPZ, DRI, DRS, DSGX, DTM, DUK, DUOL, DVA, DVN, DXCM, DXPE, DY, E, EADSY, EAT, EBAY, ED, EDU, EHC, EIX, EL, ELF, ELMD, ENPH, ENSG, ENV, ENVA, EOG, EPAC, EQR, ERJ, ES, ESAB, ESEA, ESS, ESTC, ET, ETN, ETRN, ETSY, EVR, EWBC, EXAS, EXP, EXPE, EZPW, FANG, FCFS, FDIG, FDX, FICO, FIHL, FIS, FITB, FIX, FLEX, FLR, FLS, FLUT, FN, FNF, FOX, FRO, FRPT, FRT, FSLR, FSS, FTAI, FTI, FTNT, FUTU, FWRG, GBDC, GBX, GDXJ, GDYN, GE, GEHC, GEL, GEO, GEOS, GFF, GGG, GIC, GIFI, GIII, GIL, GLP, GMS, GNRC, GNTX, GOLF, GOOG, GOOGL, GPC, GPI, GPN, GPOR, GRBK, GRC, GRMN, GS, GSK, GTES, GTLB, GVA, GWRE, GWW, H, HAS, HAYW, HBAN, HCA, HCI, HEI, HES, HIBB, HLNE, HLX, HNI, HOLX, HON, HOOD, HOV, HRB, HST, HTGC, HUBB, HUBS, HWKN, HWM, IAG, IBCP, IBKR, IBN, IBOC, IBP, ICFI, ICLR, IDCC, IDXX, IESC, IEX, IFF, IHI, IIPR, IMO, ING, INSP, INSW, INTU, INVH, IOT, IQV, IR, IREN, IRM, ISRG, ITA, ITB, ITGR, ITRI, ITRN, ITT, IWM, JBI, JCI, JELD, JHX, JPM, K, KAI, KB, KBH, KD, KEX, KEY, KGC, KKR, KMX, KNF, KNTNF, KO, KRE, KRT, KWR, L, LAUR, LBRT, LDOS, LECO, LEN, LEVI, LII, LMAT, LMB, LMND, LNC, LNT, LNW, LOB, LOGI, LOW, LPG, LPLA, LPX, LSEA, LWAY, LZ, LZB, MA, MAG, MAIN, MAMA, MANH, MARA, MAS, MBC, MBIN, MCHP, MCK, MCO, MCY, MDLZ, MDT, MEDP, MELI, META, MFC, MGM, MHO, MITK, MKC, MLI, MLM, MLR, MMM, MMYT, MO, MOD, MOG/A, MPLX, MRNA, MRO, MS, MSA, MTB, MTD, MTH, MTSI, MUFG, MYRG, NCLH, NCNO, NDSN, NEE, NGS, NI, NMIH, NOC, NOG, NOW, NR, NRG, NS, NSIT, NSSC, NTB, NTNX, NTRA, NTRS, NU, NVO, NVR, NXE, NXT, O, OC, ODFL, ODP, OFG, OIH, OII, OKE, OKTA, OLED, OMC, OMI, OSCR, OSG, OSIS, OSK, OTIS, OTTR, OWL, OXY, OZK, PAA, PAAS, PAGP, PAGS, PANW, PARR, PATH, PATK, PAX, PAY, PAYC, PAYX, PBA, PBPB, PBR/A, PCG, PDD, PEGA, PFBC, PFG, PFGC, PGR, PH, PHM, PIPR, PLAB, PLMR, PLTR, PM, PNC, PNTG, POOL, POST, POWL, PRCT, PRDO, PRIM, PRMW, PRU, PSA, PSN, PSTG, PSX, PTC, PUBM, PWP, PWR, PXD, PYPL, QCRH, QFIN, QLYS, QSR, RACE, RAMP, RBA, RCL, RDNT, RELX, REVG, REX, RGA, RHP, RJF, RL, RMD, ROCK, RPAY, RRC, RSP, RUSHA, RYAAY, S, SAH, SAIA, SANM, SAP, SBAC, SCHW, SCS, SDRL, SFM, SHAK, SHEL, SHOP, SIGI, SKT, SKX, SM, SMR, SNX, SO, SOUN, SPOT, SPXC, SPY, SQ, SQSP, SRE, SRUUF, STLA, STN, STNE, STNG, STRL, STX, STZ, SUM, SUN, SWBI, SWK, SWKS, SYF, SYK, TAN, TCOM, TDG, TDW, TENB, TFC, TFII, TFPM, TFX, TGLS, THC, TK, TKO, TKR, TMDX, TMHC, TMO, TMUS, TNC, TOL, TOST, TPG, TPH, TPX, TRAK, TREX, TRGP, TRIN, TRIP, TRMB, TRMD, TRNS, TROW, TSCO, TSN, TT, TTE, TTEK, TXRH, TXT, TYL, UAL, UBS, UDR, UHS, UMBF, UNP, URA, URBN, URG, URI, URNM, USAP, USFD, USLM, USO, V, VCTR, VEEV, VIPS, VIST, VITL, VLO, VLTO, VMC, VNOM, VNT, VRNS, VRRM, VRT, VRTX, VSEC, VST, VTSI, VVV, W, WAB, WABC, WAL, WAT, WDC, WDOFF, WELL, WEX, WFRD, WGMI, WHD, WING, WIX, WM, WMB, WMS, WOR, WPM, WSM, WSO, WST, WTFC, WTS, WWD, WY, WYNN, XEL, XHB, XLC, XLE, XLF, XLI, XLP, XLU, XLV, XLY, XOM, XOP, XYL, YUM, ZBH, ZS, 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 – 2024-04-23
AAUC.TO, AAWH/U.CA, ABX.TO, AC.TO, ACB.TO, ACO/X.TO, ACOP.V, AD/UN.TO, ADEN.TO, AEM.TO, AFM.V, AGF/B.TO, AGI.TO, AKG.TO, ALA.TO, ALYA.TO, AMZN.NE, AQN.TO, ARE.TO, ARG.TO, ARIS.TO, ARX.TO, ATRL.TO, ATZ.TO, AYA.TO, AYR/A.CA, BAM/A.TO, BBD/B.TO, BDI.TO, BDT.TO, BIR.TO, BITF.TO, BK.TO, BMO.TO, BN.TO, BNE.TO, BNS.TO, BPF/UN.TO, BTB/UN.TO, BTE.TO, CAE.TO, CAS.TO, CCL/B.TO, CCO.TO, CEU.TO, CF.TO, CFW.TO, CG.TO, CGX.TO, CHE/UN.TO, CHR.TO, CIA.TO, CIG.TO, CIGI.TO, CITI.NE, CIX.TO, CJ.TO, CJT.TO, CMG.TO, CNC.V, COST.NE, CP.TO, CPG.TO, CPH.TO, CR.TO, CRDL.TO, CRON.TO, CRP.TO, CSU.TO, CVE.TO, CXB.TO, D/UN.TO, DF.TO, DFN.TO, DGS.TO, DIS.NE, DND.TO, DNTL.TO, DOO.TO, DPM.TO, DR.TO, DRM.TO, DRX.TO, DSG.TO, E.TO, ECN.TO, EDR.TO, ELO.TO, EQB.TO, ERF.TO, ESI.TO, ETG.TO, ETHC.NE, EU.V, EXE.TO, FCU.TO, FDR.V, FEC.TO, FFN.TO, FFN/PA.TO, FN.TO, FNV.TO, FSV.TO, FTN.TO, FTT.TO, FVI.TO, GAU.TO, GCL.TO, GDC.TO, GEI.TO, GGD.TO, GIL.TO, GOOG.NE, GRA.TO, GTE.TO, GTWO.TO, GUD.TO, GWO.TO, HBM.TO, HDI.TO, HME.V, HMM/A.TO, HTL.TO, HUT.TO, HWO.TO, IFOS.V, ILLM.TO, IMG.TO, IPO.TO, JOY.TO, K.TO, KEL.TO, KEY.TO, KNT.TO, KRR.TO, KXS.TO, LCX.V, LMN.V, MAG.TO, MATR.TO, MDA.TO, MEG.TO, MFC.TO, MKO.V, MKP.TO, MND.TO, MTL.TO, MVRS.NE, NA.TO, NANO.TO, NFG.V, NFI.TO, NGEX.TO, NOA.TO, NPI.TO, NVA.TO, NWC.TO, NWH/UN.TO, NXE.TO, OBE.TO, OLA.TO, ONEX.TO, OVV.TO, PAAS.TO, PANW.NE, PD.TO, PEY.TO, PHX.TO, PKI.TO, PLZ/UN.TO, PNG.V, POU.TO, POW.TO, PPL.TO, PRL.TO, PRMW.TO, PSI.TO, PTK.V, PVT.V, PXT.TO, PYPL.NE, PZA.TO, QSR.TO, RBY.TO, RET/A.V, RML.V, RS.TO, RY.TO, SAP.TO, SBC.TO, SDE.TO, SEI.V, SES.TO, SGY.TO, SHLE.TO, SHOP.TO, SIA.TO, SIL.TO, SIS.TO, SJ.TO, SKE.TO, SLS.TO, SOY.TO, SSL.TO, STN.TO, TD.TO, TF.TO, TFPM.TO, TIH.TO, TLRY.TO, TNT/UN.TO, TOU.TO, TOY.TO, TSU.TO, TVE.TO, U/U.TO, U/UN.TO, URE.TO, VET.TO, VGCX.TO, VHI.TO, VLE.TO, WCP.TO, WDO.TO, WED.V, WEED.TO, WJX.TO, WPK.TO, WPM.TO, WSP.TO, X.TO, XTD.TO, ZZZ.TO