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
S&P 500 Falters as Dow and Boeing Struggle, Nasdaq Resilient
Before we start, I’d like to share that I will be presenting tonight for the Canadian Association for Technical Analysis.
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JOIN HERE – https://cata.clubexpress.com/content.aspx?page_id=4002&club_id=71614&item_id=2154291
In Tuesday’s trading session, the stock market faced headwinds, relinquishing gains led by the tech sector and ending the S&P 500’s two-day winning streak. The Dow Jones Industrial Average, in particular, saw a halt to its three-day upward trajectory, registering a decline of over 200 points at one juncture. Boeing’s ongoing decline further compounded the Dow’s challenges. Despite these setbacks, the Nasdaq managed to overcome early losses, finishing the day in positive territory.
Indexes
The Dow Jones Industrial Average incurred a loss of 158 points, translating to a 0.4% decrease, while the S&P 500 experienced a 0.2% dip. On the flip side, the Nasdaq Composite eked out a 0.1% gain. All charts continue to consolidate in the form of our potential bull flag retest scenario.
Dow Jones Industrial Average
S&P 500
Nasdaq
Monday and Friday witnessed advances for both the S&P 500 and Nasdaq, driven by positive developments in the chip sector, notably Nvidia’s announcements and one of our weekend setups, coupled with heightened optimism surrounding artificial intelligence as we also continue to keep a keen eye on other AI-related setups such as Microsoft and Google.
NVIDIA
Despite a robust auction, the 10-year yield concluded the day at 4.019%, adding to market concerns. The price action retaining bull flag retest levels likely contributed to the overall unease as the markets inversely correlate.
10-Year US Treasury Yield
Our uranium theme witnessed a robust day of recovery after pulling back last week to areas of support. The price action has drawn our close attention as we monitor whether the recent support levels will hold. Today, the uranium charts reveal promising daily setups, signaling a potential resurgence in the market.
Global X Uranium ETF
Trading is an art of observation, a skill of watching the subtle transitions in the market’s rhythm. Success lies not just in witnessing the shifts but in skillfully reacting to them. As we delve into today’s setups, remember, it’s the mindful dance with change that turns observers into successful traders.
US Daily Setups
CCJ – Cameco Corp.
Cameco is pushing up against a level of overhead resistance as it attempts to break out from a bull flag continuation pattern.
LINK TO CHART – https://schrts.co/dTTcmDNj
DLO – DLocal Limited
DLocal is appearing on momentum scans as the price action attempts to move higher from a consolidation/continuation pattern. Keep a close watch for potential upward momentum.
LINK TO CHART – https://schrts.co/aebnSJqt
GOOGL – Alphabet Inc.
Alphabet continues to set up for a potential base breakout from the pattern we’ve been monitoring closely.
LINK TO CHART – https://schrts.co/HNxCWemq
SMCI – Super Micro Computer, Inc
Super Micro Computer appeared in yesterday’s scan results, and I regret not sharing it in the daily report as it often correlates with AI-related names. Today, the price action is following through as it begins to break out from a multi-month consolidation/continuation pattern.
LINK TO CHART – https://schrts.co/GwwidvHU
SRUUF – Sprott Physical Uranium Trust
Pay attention to the substantial volume by price bar on the left-hand side of the chart. A breakout above this level would be a noteworthy event with considerable significance.
LINK TO CHART – https://schrts.co/PJHWyeSG
URNJ – Sprott Junior Uranium Miners ETF
The Sprott Junior Uranium Miners ETF is poised for a potential new all-time breakout in the exchange-traded fund.
LINK TO CHART – https://schrts.co/XjzTQAks
Canadian Daily Setups
CCO.TO – Cameco Corp.
When zoomed out on the Canadian chart Cameco, one can observe a successful bull flag retest of the recent breakout, with overhead resistance as the final hurdle to overcome.
LINK TO CHART – https://schrts.co/ZNBQPTPA
DML.TO – Denison Mines Corp.
Denison Mines is pushing up against a level of overhead resistance as it attempts to break out from a bull flag continuation pattern.
LINK TO CHART – https://schrts.co/JQECMePI
GLO.TO – Global Atomic Corporation
Global Atomic is finally breaking out from the bottoming pattern previously highlighted.
LINK TO CHART – https://schrts.co/bTfYKnbt
PEY.TO – Peyto Exploration & Development Corp.
Peyto Exploration appears to be breaking out from a falling wedge continuation pattern.
LINK TO CHART – https://schrts.co/JvBhUICD
PKI.TO – Parkland Fuel Corp.
Parkland Fuel is attempting to trend higher from a bull flag continuation pattern, positioned below new all-time highs.
LINK TO CHART – https://schrts.co/SGfYburD
TOU.TO – Tourmaline Oil Corp.
Tourmaline Oil is emerging in scan results today as the price action resides at an interesting spot on the chart. It might be worth monitoring for signs of upside momentum.
LINK TO CHART – https://schrts.co/QdEIBJvW
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 – 2024-01-09
ABBV, ABT, ACMR, ACN, ADBE, ADI, ADSK, AEO, AER, AKAM, ALGN, ALKT, ALL, ALLE, ALPN, AMD, AME, AMR, AMZN, ANET, ANSS, ARCH, ATEYY, AVGO, AWI, AWK, AX, AYI, BALL, BAX, BCSF, BIO, BK, BKNG, BLBD, BLD, BLDR, BRZE, BSX, BUR, BXP, CAG, CAMT, CARR, CBAY, CBOE, CCJ, CCL, CDAY, CDNS, CELH, CHD, CHKP, CIEN, CLSK, CMG, CNC, CNM, COLL, COR, COST, CPB, CPRT, CRH, CRM, CRWD, CSGP, CSTM, CSWC, CTLT, CTRA, CUK, CVI, CWAN, CYBR, DAL, DASH, DAVA, DCBO, DDOG, DECK, DEFTF, DG, DGX, DKNG, DKS, DLO, DLTR, DNN, DOCU, DPZ, DT, DUOL, DV, DVAX, DXCM, EA, EHC, ELF, ELTK, ELV, EME, ENPH, ENTG, EPAM, ESOA, ESTC, ETN, EVRG, EW, EXPE, FBIN, FCN, FE, FIVN, FLT, FN, FRO, FROG, FRPT, FRSH, FSLR, GBTC, GCT, GDYN, GE, GEL, GFF, GIB, GILD, GLD, GLOB, GMS, GNRC, GOOG, GOOGL, GTLB, HCC, HD, HOLI, HOLX, HSIC, HUBB, HUBS, HURN, IBP, ICLR, IDCC, IDXX, IHI, ILMN, IMCR, IMO, INFA, INSW, INTU, IOT, IQV, ISRG, IT, IWF, J, JBI, JBL, JCI, JNPR, KBH, KD, KHC, KVUE, LAD, LH, LII, LOW, LSPD, LUV, LYV, MA, MAMA, MANH, MAS, MCHP, MDB, MDT, MELI, META, METC, MMM, MNDY, MNSO, MNST, MOD, MPLX, MPTI, MPWR, MRK, MSCI, MSFT, MTCH, NBIX, NCNO, NET, NLR, NOW, NSIT, NSSC, NTAP, NTNX, NTRA, NTRS, NU, NVDA, NXE, NYT, O, OBDC, OC, ODFL, OKTA, OLED, ONTO, PAA, PAGP, PANW, PATK, PAY, PCG, PCOR, PDD, PFGC, PGR, PINS, PLAB, PLD, PLNT, PNTG, PODD, PSN, PWSC, QCOM, QLYS, QQQ, QTRX, RBLX, RMBS, RMD, ROL, ROP, RPD, RRC, RVTY, SAIA, SAIC, SHOP, SMAR, SMCI, SMH, SNAP, SNPS, SOVO, SPB, SPG, SPLK, SQ, SRUUF, STE, STN, STZ, SUN, SWN, SYK, TAP, TDG, TEAM, TGT, TJX, TMO, TMUS, TSN, TT, TTWO, TXN, UAL, UBER, UDR, UEC, UGP, UHS, ULTA, UNH, URA, URBN, URG, URNJ, URNM, USFD, UUUU, V, VGT, VRNS, VRT, VRTX, VST, VTSI, W, WDAY, WING, WIX, WMT, XHB, XLK, XLV, XRAY, Z, ZBH, ZG, ZS, 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 – 2024-01-09
AAV.TO, AC.TO, ACT.CA, ADBE.NE, AIM.TO, ALA.TO, AMD.NE, AMZN.NE, AP/UN.TO, APR/UN.TO, ARX.TO, ASE.CA, ATH.TO, ATRL.TO, ATZ.TO, AVGO.NE, BAM/A.TO, BDGI.TO, BDT.TO, BEP/UN.TO, BEPC.TO, BHC.TO, BIR.TO, BLDP.TO, BN.TO, CAD.V, CAS.TO, CCO.TO, CF.TO, CFP.TO, CGX.TO, CHR.TO, CIA.TO, CJT.TO, CNC.V, CNQ.TO, CP.TO, CR.TO, CRDL.TO, DBM.TO, DCBO.TO, DFN/PA.TO, DIV.TO, DML.TO, DOL.TO, DR.TO, DRX.TO, EDR.TO, EFR.TO, EMA.TO, ENGH.TO, EU.V, FAP.TO, FCU.TO, FDR.V, FISH.V, FRU.TO, FSZ.TO, FWZ.V, GIB/A.TO, GLO.TO, GMIN.V, GOOG.NE, GRA.TO, GUD.TO, HTL.TO, HUGE.CA, IFP.TO, ILLM.TO, IMO.TO, IPO.TO, ISO.V, KNT.TO, KXS.TO, LGO.TO, LSPD.TO, MA.NE, MFI.TO, MKP.TO, MX.TO, NFI.TO, NPI.TO, NPR.V, NVA.TO, NVDA.NE, NXE.TO, OLA.TO, OSI.V, PEY.TO, PHX.TO, PIC/A.TO, PKI.TO, PNE.TO, POU.TO, PRB.TO, PRV/UN.TO, PSK.TO, PUR.V, RAY/A.TO, RSI.TO, SASK.CA, SDE.TO, SES.TO, SHOP.TO, SJ.TO, SLS.TO, SSL.TO, STEP.TO, STN.TO, SVI.TO, TCN.TO, TIH.TO, TIXT.TO, TOU.TO, TRZ.TO, TWM.TO, TXG.TO, U/U.TO, U/UN.TO, URC.TO, URE.TO, VERS.NE, VNP.TO, WCN.TO, WFG.TO, WN.TO, WSP.TO, WTE.TO, WUC.CA, X.TO
