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: We update the sector chartists every weekend. We highly recommend that you take some time to browse and create your watchlist. 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
Dow Holds Steady Despite Tech Struggles
In Tuesday’s market performance, the blue-chip Dow Jones Industrial Average took charge, maintaining its position even after a minor pullback. Although stocks closed the day with slight gains, the banking and technology sectors faced some headwinds. The S&P 500 witnessed an overall positive trend, but technology stocks, including Adobe, Advanced Micro Devices, and Micron Technology, experienced notable declines.
Despite the ongoing strength of the market rally, concerns about breadth have emerged in 2024. Recent buying opportunities have been scarce, with many setups struggling. Some stocks are gearing up for upcoming earnings, while others have seen positive gaps post their earnings reports. Notably, the Snap stock serves as a cautionary tale, highlighting the risks associated with holding through earnings. Navigating this landscape is proving challenging as I seek new setups with earnings in their rearview mirror.
Breadth
Snap’s Earnings Fallout: Anticipating Tomorrow’s Gap Lower in the Aftermath
The Dow Jones Industrial Average posted a 0.37% gain, equivalent to 141 points. The tech-focused Nasdaq Composite saw a more modest 0.07% rise, and the S&P 500 advanced by 0.23%. Throughout the day, all three indexes oscillated between marginal gains and losses.
Dow Jones Industrial Average – Daily Chart
Nasdaq – Daily Chart
S&P 500 – Daily Chart
In the bond market, U.S. government bond yields dipped as prices rose. The benchmark 10-year Treasury yield settled at 4.090%, down from Monday’s 4.163%. Looking ahead, a significant development is the upcoming auction of $42 billion in 10-year notes on Wednesday, marking the highest offering amount by the Treasury to date. Strong demand for these notes has the potential to ease market concerns and drive yields even lower.
10-Year US Treasury Yield
As Peter Lynch once wisely said, ‘Know what you own, and know why you own it.’ With that principle in mind, let’s delve into today’s daily setups and potential opportunities in the market.
US Daily Setups
ALTR – Altair Engineering, Inc.
Altair Engineering appears to be setting up below its 52-week high.
LINK TO CHART – https://schrts.co/cJxQhGiq
AXON – Axon Enterprise, Inc.
Axon Enterprise is consolidating in a continuation pattern below its all-time high. Stay vigilant for signs indicating a potential continuation of the uptrend.
LINK TO CHART – https://schrts.co/ynRsefbH
CE – Celanese Corp.
Celanese is consolidating within a substantial bull flag continuation pattern.
LINK TO CHART – https://schrts.co/snidNYFC
CVNA – Carvana Co.
Carvana seems to be forming on the right side of a substantial multi-month base.
LINK TO CHART – https://schrts.co/rHdphfJK
PODD – Insulet Corp.
Insulet seems to be shaping up on the right side of a bottoming pattern. Watch for a sign of breakout signals.
LINK TO CHART – https://schrts.co/qvYFtuwS
PWR – Quanta Services, Inc.
Quanta Services is attempting to break out from a continuation pattern, surpassing a notable resistance line indicated by a large volume by price bar.
LINK TO CHART – https://schrts.co/qGarcDQk
Canadian Daily Setups
BBUC.TO – Brookfield Business Corp.
Brookfield Business is breaking out, reaching a new 52-week high.
LINK TO CHART – https://schrts.co/BGceizMI
ELD.TO – Eldorado Gold Corp.
Eldorado Gold is steadily progressing toward the apex of a continuation pattern. Keep a close watch for any indications of upward momentum.
LINK TO CHART – https://schrts.co/EIHXTjdb
MFC.TO – Manulife Financial Corp.
Manulife Financial is breaking out, reaching a new 52-week high.
LINK TO CHART – https://schrts.co/WXCssIvz
OR.TO – Osisko Gold Royalties Ltd.
The Osisko Gold Royalties setup is currently making an attempt to break out from the pattern highlighted earlier, accompanied by a notable surge in volume.
LINK TO CHART – https://schrts.co/tYNXPRyn
VNP.TO – 5N Plus Inc.
5N Plus had another robust day, marked by strong momentum.
LINK TO CHART – https://schrts.co/EGzEVFYU
WDO.TO – Wesdome Gold Mines Ltd.
The Wesdome Gold Mines setup seems to be finally breaking out from its bottoming pattern.
LINK TO CHART – https://schrts.co/sIHZRNbm
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 – 2024-02-06
A, AAL, AAON, AAPL, ABBNY, ABBV, ABT, ACA, ADEA, ADP, AEL, AEO, AFRM, AGI, AGYS, AIR, AIZ, ALGN, ALKT, ALL, ALLE, ALSN, ALTR, ALV, AMWD, AON, APAM, APG, APO, APPF, ARCB, ARES, ARKK, ASML, ASR, ATR, AVAV, AVDX, AVY, AWI, AXON, AZEK, AZO, BAC, BAESY, BAH, BAX, BBWI, BBY, BG, BIO, BITO, BK, BKNG, BKR, BLBD, BLD, BLK, BMY, BRC, BRK/B, BRO, BSBR, BSX, BVN, BX, BYRN, CACI, CARG, CAVA, CBAY, CBT, CBZ, CCOI, CDRE, CE, CEG, CELH, CHE, CHKP, CI, CINF, CLH, CLSK, CLX, CMG, CMI, CNM, COLL, COO, COOP, COP, CPA, CPB, CPRT, CPT, CR, CRH, CRL, CRSP, CSAN, CSGP, CSL, CSTM, CSWI, CSX, CTSH, CTVA, CVLG, CVNA, CW, CXT, CYBR, DAL, DASH, DAY, DCI, DD, DEFTF, DG, DGHI, DHR, DIS, DKS, DLTR, DOV, DOW, DPZ, DRI, DVA, DXCM, DY, EADSY, EAT, EBAY, ECL, EGO, EHC, ELF, ELV, EME, EMR, ERIE, ESAB, ESOA, ETHE, ETN, ETSY, EW, EXP, EXPD, EXPE, F, FA, FAST, FBIN, FCX, FERG, FIX, FLR, FLS, FMX, FNF, FOUR, FOX, FRPT, FRT, FSS, FTNT, FWRG, GBTC, GBX, GD, GDYN, GEHC, GEOS, GFF, GGG, GIS, GLD, GM, GNRC, GNTX, GOLF, GPC, GRC, GRMN, GS, GSHD, GSK, GVA, GWRE, H, HCI, HD, HDSN, HEI, HES, HIBB, HII, HLT, HMC, HOLI, HOLX, HRB, HSBC, HSIC, HST, HWM, HY, IBN, IBP, ICFI, IDR, IESC, IEX, IHG, IHI, IMCR, IMO, INCY, IPAR, IPG, IQV, IR, IRM, ISRG, ITA, ITCI, ITGR, ITRI, IWM, JBHT, JBI, JELD, JHX, JNPR, JPM, KEYS, KKR, KMX, KNF, KOF, KRT, KTOS, L, LAKE, LBRT, LDOS, LECO, LHX, LIN, LINC, LNW, LOW, LSPD, LUV, LVS, LYB, LZB, MA, MAIN, MAMA, MAR, MAS, MCO, MDT, MEDP, METV, MFC, MGRC, MHK, MITK, MLM, MMC, MNDY, MNST, MOH, MPTI, MRK, MRNA, MSI, MSOS, MTD, MTRN, MYRG, NATR, NBIX, NDSN, NET, NICE, NLR, NMIH, NPO, NSC, NSIT, NSSC, NTRA, NU, NVR, NWSA, NX, NXPI, NYT, OC, ODD, ODFL, OSIS, OTIS, OTTR, PAGS, PATH, PATK, PAYX, PEG, PFE, PFG, PFGC, PG, PGNY, PH, PLD, PLNT, PLTR, PLUS, PNC, PNR, PODD, POWW, PRCT, PRIM, PRU, PSN, PWR, PXD, PYPL, QRVO, QTRX, RACE, RAMP, RBA, RBC, RBLX, REPYY, RHP, RMD, ROAD, ROCK, ROL, RPD, RS, RSG, RSP, RTX, RUM, RUSHA, RWAY, RYAAY, SAH, SAIC, SBUX, SCCO, SHEL, SHOP, SHW, SKM, SMCI, SMLR, SNA, SNAP, SOVO, SPG, SPGI, SPXC, SPY, SQ, STE, STLA, STNE, STRL, STX, STZ, SXC, SYF, TDY, TEL, TENB, TEX, TFX, TGT, TJX, TM, TMO, TNC, TNET, TPR, TREX, TRGP, TROW, TSCO, TTE, TTEK, TTWO, TXT, TYL, UAL, UBER, UGP, UNH, UNP, UPBD, UPS, URBN, URI, V, VFC, VIPS, VIST, VIV, VMC, VNOM, VNT, VRSK, VSEC, VTRS, VTSI, WAB, WAT, WBA, WDFC, WDOFF, WEST, WING, WIX, WM, WMS, WMT, WSC, WSM, WTS, WTW, WWD, WYNN, XHB, XLF, XLI, XLP, XLV, XLY, XRX, XYL, Z, ZBH, ZG, ZTS
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 – 2024-02-06
AAPL.NE, AAWH/U.CA, ABXX.NE, AC.TO, ADEN.TO, AGF/B.TO, AGI.TO, AI.TO, AIF.TO, AIM.TO, AMX.V, ARE.TO, ARTG.V, ATS.TO, AYA.TO, BAM/A.TO, BBD/B.TO, BBUC.TO, BEI/UN.TO, BHC.TO, BIP/UN.TO, BIPC.TO, BK.TO, BK/PA.TO, BLX.TO, BN.TO, BNS.TO, BRK.NE, BRM.V, CAE.TO, CAR/UN.TO, CAS.TO, CEE.TO, CEU.TO, CG.TO, CHE/UN.TO, CL.CA, CNR.TO, CP.TO, CPLF.TO, CRON.TO, CS.TO, CSH/UN.TO, CTC/A.TO, CTS.TO, CURA.TO, CVO.TO, CXB.TO, DHT/UN.TO, DIR/UN.TO, DIS.NE, DIV.TO, DND.TO, DNTL.TO, DOL.TO, DRM.TO, ECN.TO, ECO.TO, EFL.TO, EIF.TO, EIT/UN.TO, ELD.TO, ELVA.TO, EMA.TO, EPRX.TO, ERO.TO, ETHC.NE, ETHH.TO, FAP.TO, FAR.TO, FAT.CA, FCR/UN.TO, FDR.V, FTG.TO, FTT.TO, FVI.TO, GIL.TO, GLXY.TO, GMIN.TO, GOLD.TO, GOLD.V, GRT/UN.TO, GTII.CA, GUD.TO, GWO.TO, H.TO, HDI.TO, HPS/A.TO, HR/UN.TO, IAG.TO, IDG.TO, IIP/UN.TO, IMG.TO, IMO.TO, IVN.TO, JUSH.CA, KMP/UN.TO, KNT.TO, L.TO, LCS.TO, LFE.TO, LNR.TO, LSPD.TO, MAG.TO, MATR.TO, MDP.TO, MFC.TO, MG.TO, MMED.NE, MRE.TO, MRG/UN.TO, MRU.TO, MSFT.NE, MTL.TO, NEO.TO, NET/UN.V, NGD.TO, NVEI.TO, NWC.TO, OGI.TO, OIII.V, OR.TO, PBH.TO, PET.TO, PFE.NE, PHX.TO, PLTH.CA, PNRL.V, POW.TO, PRMW.TO, PRYM.TO, PUR.V, PYPL.NE, RBA.TO, RY.TO, SAP.TO, SFTC.TO, SGR/UN.TO, SIA.TO, SIL.TO, SLF.TO, SOY.TO, STEP.TO, SXP.TO, TCL/A.TO, TER.CA, TFII.TO, THNC.TO, TIXT.TO, TLRY.TO, TOY.TO, TRUL.CA, TRZ.TO, TSND.TO, TSU.TO, UBER.NE, UNH.NE, UPS.NE, VHI.TO, VLE.TO, VNP.TO, VRNO.NE, WDO.TO, WELL.TO, WPK.TO, WSP.TO, X.TO, ZZZ.TO
