SYS Research – Daily Report – Tuesday, February 20, 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

Tech Turbulence and Nvidia’s Earnings Awaited

Stocks experienced a decline on Tuesday as investors returned from the long Presidents Day weekend. The technology sector spearheaded the market downturn, marked by increased volatility ahead of Nvidia’s crucial earnings report scheduled for tomorrow. The CBOE Volatility Index, also known as Vix, surged by 8.3% to 15.42. Notably, among the 11 major S&P 500 sectors, consumer staples emerged as the sole gainer with a 0.9% increase.

VIX – Daily Chart

Despite the dip, stocks are still hovering near all-time highs, largely fueled by the ongoing excitement surrounding artificial intelligence. The upcoming earnings release from AI chip manufacturer Nvidia poses a significant test for the recent market rally. The Nasdaq Composite experienced a 0.9% drop, while the S&P 500 saw a 0.6% decline. The Dow Jones Industrial Average retreated approximately 60 points, or 0.2%.

Nasdaq – Daily Chart

S&P 500 – Daily Chart

Dow Jones Industrial Average – Daily Chart

On Tuesday, Nvidia’s shares experienced a 4.4% decrease, resulting in a staggering $78 billion loss in market capitalization—the largest one-day decline in the company’s history.

Nvidia – Daily Chart

Benchmark Treasury yields saw a slight decrease on Tuesday as prices rose, settling at 4.275%. However, the 10-year yield remains higher than its level at the beginning of the year, indicating traders’ anticipation that the Federal Reserve will maintain interest rates at their current levels until inflation shows further signs of moderation.

10-Year US Treasury Yield

The price action of Ethereum is exhibiting positive behavior, complemented by the inclusion of an ETF in our daily setups. Keep a close eye on this development for potential opportunities.

Ethereum – Daily Chart

US Daily Setups

EAT – Brinker Intl, Inc.

Brinker is currently flagging below its 52-week high. Keep a close watch for potential breakout signals in the upcoming sessions.

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

 

ETHE – Grayscale Ethereum Trust

The Grayscale Ethereum Trust is breaking out to its 52-week high. Monitor for potential continuation of upward momentum in the near term.

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

 

MAS – Masco Corp.

Masco is digesting the recent gap as it consolidates below its 52-week highs. Keep an eye on the price action for potential developments.

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

 

MUSA – Murphy USA Inc.

Murphy exhibited relative strength in a weak market tape. Monitor for any signs of further upside strength that could contribute to a continuation of the uptrend.

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

 

TRAK – ReposiTrak Inc.

ReposiTrak seems to be breaking out with robust volume. Keep a close eye on the price action for potential confirmation and continuation of the upward movement.

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

 

VIST – Vista Oil & Gas SAB

Vista Oil & Gas continues to outperform both on a relative and absolute basis, with price action breaking out to achieve another new all-time high.

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

 

Canadian Daily Setups

ATD.TO – Alimentation Couche-Tard, Inc.

Alimentation Couche-Tard has just undergone a bull flag retest following the all-time high breakout.

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

 

CM.TO – Canadian Imperial Bank Of Commerce

The Canadian banks had a robust day in a weak market tape, and CIBC is no exception as its price action begins to break out from the recently highlighted bull flag continuation pattern.

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

 

DOL.TO – Dollarama Inc.

Dollarama is displaying relative strength in a weak market tape as its price action reaches a new all-time high.

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

 

GOOS.TO – Canada Goose Holdings Inc.

Canada Goose appears to be attempting to break out from a bottoming pattern.

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

 

H.TO – Hydro One Limited

Hydro One is showing an upward move after a recent Bull flag retest of the 52-week high breakout.

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

 

LMN.V – Lumine Group Inc.

Lumine is making an attempt to break out from a bullish pennant continuation pattern situated below its all-time high.

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

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 – 2024-02-20

AAL, ABT, ADI, AER, AIZ, AJG, ALGN, ALSN, AM, AMCR, AME, AON, AROC, ASND, ATR, AVAV, AVY, AWI, BAX, BBVA, BBWI, BF/B, BFST, BIO, BITW, BLK, BLX, BRC, BRK/B, BRO, BSBR, BSX, BVN, BYRN, C, CAG, CAH, CBOE, CBZ, CCEP, CCI, CCOI, CDNS, CDRE, CDW, CEG, CENT, CENTA, CHRD, CHTR, CI, CL, CLH, CLX, CM, CNC, CNM, COF, COO, COR, CPB, CRVL, CSL, CSWI, CSX, CW, CWAN, DAL, DB, DCI, DFH, DFIN, DFS, DLTR, DRI, DTM, DVA, DXCM, EAT, EBAY, ECL, ED, EGO, EHC, ENLC, EPD, EQR, ERJ, ETHE, EW, EZPW, FA, FBIN, FERG, FFIV, FIVE, FRPT, FTI, GBDC, GEHC, GEN, GEOS, GIII, GIS, GL, GLRE, GLW, GM, GOLF, GPC, GRMN, GS, HCA, HD, HESM, HIBB, HIG, HOLX, HON, HOOD, HQY, HRI, HRL, HSBC, HSY, HUM, HWM, IBN, IEX, IHG, IHI, ING, INTC, INVH, IPAR, IPG, IRM, ITB, ITW, JKHY, JNJ, JPM, K, KBH, KDP, KEY, KIM, KO, KSPI, LAUR, LEN, LII, LIN, LMND, LOB, LOGI, MAMA, MAR, MAS, MCD, MCHP, MDLZ, MGRC, MKC, MMC, MPLX, MSI, MUSA, MYRG, NDSN, NEU, NGS, NHC, NI, NICE, NMM, NOC, NS, NTB, NTRA, NWSA, OLED, OMC, PAA, PATK, PAX, PAYX, PCOR, PEG, PEP, PFBC, PFG, PFGC, PHM, PKG, PLMR, PNTG, PODD, PRI, PRU, PSA, PSN, RDY, RELX, RGA, RHP, RL, RMD, ROST, RPM, RWAY, SHW, SKM, SKWD, SNX, SPGI, SSNC, SUN, SWBI, SWKS, SYF, TAP, TDG, TDW, THC, TMO, TMUS, TNC, TOL, TPH, TPR, TRAK, TRIN, TRIP, TROW, TRV, TSN, TT, TW, TXN, UAL, UGP, UHS, UNP, URBN, USAC, VICI, VIST, VIV, VOYA, VRSK, VSEC, VST, VTRS, VVV, VZ, WAB, WDFC, WES, WING, WOR, WRK, WSC, WY, XHB, XLP, XP, XRX, XYL, YUM, ZBH

 

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 – 2024-02-20

AEP.V, AKG.TO, ALA.TO, AND.TO, ATD.TO, ATD/A.TO, ATH.TO, ATX.V, BAM.TO, BAM/A.TO, BDGI.TO, BDT.TO, BEI/UN.TO, BHC.TO, BIP/UN.TO, BIPC.TO, BLN.TO, BMO.TO, BN.TO, BNS.TO, CAS.TO, CCL/B.TO, CDR.TO, CFP.TO, CGG.TO, CHP/UN.TO, CM.TO, CMG.TO, CNQ.TO, CPG.TO, CPX.TO, CRDL.TO, CS.TO, CSU.TO, CWB.TO, DF.TO, DFN.TO, DFY.TO, DGS.TO, DIR/UN.TO, DND.TO, DOL.TO, DTC.CA, EDV.TO, EFN.TO, ELD.TO, ENB.TO, EQB.TO, ETHC.NE, ETHH.TO, FAT.CA, FCR/UN.TO, FFN.TO, FIH/U.TO, FIL.TO, GAU.TO, GEI.TO, GEO.TO, GOOS.TO, GWO.TO, H.TO, HME.V, HUGE.CA, IAG.TO, IIP/UN.TO, INTC.NE, ITR.V, JWEL.TO, KEY.TO, KNT.TO, KSI.TO, L.TO, LBS.TO, LCS.TO, LGC.V, LMN.V, MDNA.TO, MKP.TO, MMED.NE, MOOO.CA, MRG/UN.TO, MRU.TO, NA.TO, OLA.TO, OSI.V, PIC/A.TO, PKI.TO, POW.TO, PRL.TO, PTI/UN.TO, PXT.TO, QBR/B.TO, RML.V, RY.TO, SEA.TO, SGD.V, SHOW.CA, SIA.TO, SIS.TO, SLF.TO, STLC.TO, SXP.TO, SYZ.TO, T.TO, TCL/A.TO, TIH.TO, TRP.TO, TRUL.CA, VLE.TO, WN.TO, WSP.TO, X.TO

 

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