SYS Research – Daily Report – Tuesday, January 16, 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.

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.

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SYS Daily Report

Market Volatility Persists Amidst Fed Rate Uncertainty and AI Resilience

In a day marked by uncertainty, Tuesday witnessed a broad decline in stocks, driven by investor apprehension regarding their optimistic bets on potential Federal Reserve rate cuts. The dip in the market coincided with a rise in the 10-year Treasury yield, prompting concerns among traders.

Federal Reserve Governor Christopher Waller’s cautious stance on rate cuts contributed to the market’s disappointment. Waller emphasized that the Fed would refrain from initiating rate cuts until there is a reasonable assurance that inflation consistently hovers near the 2% target. This development could force companies entering the earnings season to underscore their value through robust profits, given the waning momentum in price action.

Tuesday’s market losses would likely have been more severe if not for the intervention of artificial intelligence (AI) trading. Notably, chip manufacturer Nvidia saw a 3.1% increase in shares, while Advanced Micro Devices experienced an 8.3% climb. Despite these efforts, all three major indexes concluded the session in the red for 2024. The S&P 500 retreated by 0.4%, the Nasdaq Composite dropped 0.2%, and the Dow Jones Industrial Average fell by 0.6%, shedding 232 points.

S&P 500

Nasdaq

Dow Jones Industrial Average

In the bond market, the 10-year yield recorded a significant uptick of 0.116 percentage points on Tuesday, marking its most substantial gain since December 8th, 2023. This surge coincides with the ongoing price action, as it persistently engages in a bull flag retest of the breakout line.

10-Year US Treasury Yield

The breadth system persists in revealing weakness.

The Red-Light/Green-Light Breadth System

Shifting the focus to the cryptocurrency theme, Bitcoin demonstrated resilience by maintaining its position above the 50-day moving average. Meanwhile, Ethereum exhibited an upward trend, following a bull flag continuation pattern.

Bitcoin

Ethereum

US Daily Setups

AMD – Advanced Micro Devices, Inc.

AMD is approaching a new all-time high as price action continues to break out.

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

 

CAMT – Camtek Ltd.

Camtek is attempting to trend higher from a consolidation/continuation pattern.

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

 

ETHE – Grayscale Ethereum Trust

The Grayscale Ethereum Trust appears to have successfully retested the recent breakout line.

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

 

INTA – Intapp Inc.

Intapp is attempting to break out from a significant consolidation pattern.

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

 

NVDA – NVIDIA Corp.

Nvidia continues its base breakout.

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

 

SNPS – Synopsys, Inc.

Synopsys is set up in the form of a bull flag or a continuation wedge. Monitor for a potential breakout.

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

 

Canadian Daily Setups

AFN.TO – Ag Growth International Inc.

Ag Growth is gaining momentum off the lower trendline of a significant consolidation pattern. Monitor for signs of continued upside strength that could potentially propel the price back to the upper trendline of the pattern.

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

 

BCE.TO – BCE, Inc.

BCE is attempting to break out from a bottoming pattern.

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

 

CDR.TO – Condor Energies Inc.

Condor Energies is attempting to trend higher from a multi-month consolidation/continuation pattern.

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

 

FTT.TO – Finning Intl, Inc.

Finning is attempting to break out from a bull flag continuation pattern.

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

 

TIXT.TO – TELUS International Inc.

TELUS International continues to emerge on momentum scans as price action endeavors to trend higher from a bottoming pattern.

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

 

VERS.NE – VERSES Technologies Inc.

VERSES Technologies continues to surface in scanner results as the price action consolidates above the recent breakout line.

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

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 – 2024-01-16

ADBE, AFYA, AGO, AKAM, ALG, ALL, ALPN, ALSN, ALTR, ALV, AM, AMAT, AMD, AME, ANET, ANF, APO, APOG, AROC, ASND, ATEYY, ATGE, ATR, AVGO, AWI, AZO, BK, BKNG, BLD, BRBR, BRC, BRZE, BSX, BYRN, CAH, CAMT, CARG, CAVA, CBAY, CBOE, CCEP, CCL, CCOI, CDNS, CDW, CHD, CHE, CI, CIEN, CLX, CME, CMG, CNA, CNM, CPB, CPRT, CPT, CRBG, CRWD, CSWI, CTLT, CVLT, CYBR, DCI, DDOG, DECK, DELL, DFIN, DG, DIS, DKS, DLR, DPZ, DVAX, DY, EFX, EHC, ELF, ELTK, EME, ESTC, ETHE, EVR, EXPD, FAST, FCN, FFIV, FI, FLT, FROG, FRPT, FTDR, GCT, GEN, GEOS, GHC, GLP, GMS, GNTX, GPC, GSHD, GTLB, HD, HESM, HIG, HII, HLNE, HLT, HLX, HOLX, HQY, HRI, HST, HUBS, IBM, IDT, IESC, IMCR, INFA, INTA, IOT, IR, ITGR, ITT, JBI, KLAC, KOP, KR, L, LAKE, LECO, LII, LKQ, LOW, LPLA, LRCX, LRN, LUV, LW, MAA, MANH, MAR, MAS, MCK, MCO, MDB, MELI, MMYT, MNDY, MNSO, MOD, MOH, MPTI, MPWR, MTD, MU, MUSA, MYRG, NBIX, NEU, NOA, NRG, NTNX, NTRA, NUE, NVDA, NVS, ODD, OLED, ONTO, ORLY, OSG, PAGS, PANW, PAYX, PH, PLAB, PLNT, PNTG, PRDO, QCOM, RDNT, REGN, REVG, RGA, RHP, RJF, RMBS, ROCK, ROP, ROST, RYAAY, SFM, SIGI, SKWD, SMH, SNA, SNPS, SPB, SPOT, SQSP, STNE, STRL, STX, SUN, SYK, TEAM, THR, TJX, TMUS, TNC, TRAK, TRI, TRV, TSCO, TSM, TTWO, UBER, URBN, URI, USAC, V, VECO, VGT, VLGEA, VRRM, VRSK, VRT, VRTX, VST, VTRS, VTSI, VZ, WAT, WDC, WING, WIX, WMG, WMT, WRB, XLK, YUM, ZS

 

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 – 2024-01-16

ABXX.NE, ACO/X.TO, ACT.CA, AFN.TO, AGF/B.TO, AIF.TO, ALYA.TO, AMD.NE, ARE.TO, ASE.CA, ATD.TO, ATD/A.TO, BCE.TO, BDGI.TO, BDI.TO, BDT.TO, BEI/UN.TO, BIP/UN.TO, BLN.TO, CAD.V, CCA.TO, CDR.TO, CFP.TO, CGO.TO, CHP/UN.TO, CIX.TO, CJT.TO, CLS.TO, CMG.TO, CNR.TO, CP.TO, CPX.TO, CRDL.TO, CRR/UN.TO, CRT/UN.TO, CTC/A.TO, CU.TO, CURA.TO, CVS.NE, DFY.TO, DIS.NE, DOL.TO, DR.TO, DSG.TO, EFN.TO, EFX.TO, EIT/UN.TO, ELD.TO, ENB.TO, ENGH.TO, ENS.TO, EQ.V, ETHH.TO, EU.V, FC.TO, FFH.TO, FFN/PA.TO, FSV.TO, FSY.TO, FTT.TO, FWZ.V, GIB/A.TO, GIL.TO, GLO.TO, GSY.TO, GWO.TO, H.TO, HAI.TO, HITI.V, HME.V, HPS/A.TO, IIP/UN.TO, IVN.TO, JUSH.CA, KEY.TO, KSI.TO, KXS.TO, L.TO, LBNK.V, LBS.TO, LIF.TO, LMN.V, LNR.TO, LSPD.TO, MDA.TO, MMED.NE, MOO.V, NFI.TO, NG.TO, NVDA.NE, NXE.TO, NXR/UN.TO, ODV.V, OGI.TO, ONEX.TO, PBL.TO, PLTH.CA, PMZ/UN.TO, POW.TO, PRL.TO, PRV/UN.TO, PTO/UN.TO, QBR/B.TO, QBTC.TO, RCH.TO, RCI/B.TO, REI/UN.TO, SGR/UN.TO, SHLE.TO, SHOP.TO, SII.TO, SJ.TO, SLF.TO, STN.TO, SVI.TO, T.TO, TH.TO, TINY.V, TIXT.TO, TLRY.TO, TOT.TO, TRI.TO, TROY.CA, TRUL.CA, URC.TO, URE.TO, VERS.NE, VISA.NE, WDO.TO, WE.V, WEED.TO, WELL.TO, WMT.NE, WN.TO, WSP.TO, WUC.CA

 

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