SYS Research – Daily Report – Tuesday, March 19, 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: 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

Stocks Surge Ahead of Fed’s Rate Decision

In a bullish advance, the S&P 500 soared to a new record, driven by robust performance in energy shares. The benchmark index ascended by 0.6%, with 10 of its 11 sectors witnessing gains. Concurrently, the Dow Jones Industrial Average surged approximately 320 points, marking an uptick of 0.8%, while the Nasdaq Composite, tilted towards technology, notched a more modest rise of 0.4%.

S&P Sectors

S&P 500 – Daily Chart

Dow Jones Industrial Average – Daily Chart

Nasdaq – Daily Chart

Crude also experienced an uptick of 0.7%, reaching $83.12 per barrel as price action continues to breakout from our charted pattern. This upswing in energy prices propelled the S&P 500’s energy sector to a notable 1.1% increase.

Crude Oil – Weekly Chart

Conversely, the yield on the benchmark 10-year Treasury note exhibited a slight decline, stopping at the horizontal resistance line, settling at 4.297% from Monday’s 4.339%. As a fundamental rule, yields and prices move inversely. All eyes are now fixed on the Federal Reserve, which is poised to unveil its latest “dot-plot” of policymakers’ rate projections at 2 p.m. ET. Speculation abounds regarding a potential adjustment from the previously forecasted three Fed rate cuts in 2024 to a scaled-back projection of two. Fed Chair Powell is scheduled to address the media during his news conference at 2:30 p.m. ET.

10-Year US Treasury Yield

It’s probably wise to exercise caution rather than impulsively make decisions during this critical market moment. Signs of fatigue have surfaced, as highlighted by the indexes’ weekly PPO indicators in the weekend report. The impending Federal Reserve meeting could serve as a pivotal moment, delineating whether the market will embark on another upward trajectory or undergo a substantial pullback until the PPO resets.

Nasdaq – Weekly Chart w/ PPO

Moreover, attention should be directed towards the Microsoft AI event scheduled for Thursday. Although potentially overshadowed by the Nvidia GTC conference and the Fed meeting, this event is significant, particularly for AI software players and suppliers. Microsoft is among the setups featured in today’s daily analysis, warranting vigilance.

With an influx of stocks appearing in scanner results, staying prepared is crucial. Keep your watchlists current and ready with exit strategies. Stay engaged and flexible, as demonstrated by the morning’s volatility, particularly evident as the energy sector soared while the broader indexes experienced fluctuations.

US Daily Setups

AAON – AAON, Inc.

AAON is displaying continued momentum as it breaks out from its bull flag continuation pattern.

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

 

AXON – Axon Enterprise, Inc.

Axon appears to be forming a potential bull flag continuation pattern, indicating a possible upward trend continuation.

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

 

CR – Crane Co

Crane is consolidating within a potential bullish pennant continuation pattern. Keep an eye out for any signs of upward momentum.

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

 

MSFT – Microsoft Corp.

Microsoft continues to perform strongly amid market volatility, with price action consolidating in what appears to be a potential continuation pattern near recent highs.

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

 

SNPS – Synopsys, Inc.

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

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

 

XLU – Utilities Select Sector SPDR Fund

Utilities Select Sector SPDR Fund ETF is catching momentum scanners’ attention as price action positions near the upper trendline of a significant multi-year falling channel pattern. Monitoring for any indications of upside momentum could signal a potential breakout.

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

 

Canadian Daily Setups

FTT.TO – Finning Intl, Inc.

Finning continues to consolidate on the right side of a significant multi-base pattern. Keeping a watch for signs of upward strength is crucial, as it may precede a potential breakout.

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

 

GPAC.V – Great Pacific Gold Corp – Ordinary Shares

Great Pacific Gold is currently attempting to break out from a bull flag continuation pattern.

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

 

GTII.CA – Green Thumb Industries Inc.

Green Thumb Industries is currently consolidating below its recent highs.

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

 

PD.TO – Precision Drilling Corp.

Precision Drilling continues to push higher from the consolidation triangle we’ve been monitoring.

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

 

STLC.TO – Stelco Inc.

Stelco continues to appear on scanner results as price action approaches an apex. Monitoring for signs of upward momentum, which could signal a breakout, is crucial. It’s worth noting that the PPO momentum indicator is currently pushing against the underside of the zero line. A PPO move above zero would be significant and could coincide with a price breakout.

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

 

TCW.TO – Trican Well Service Ltd.

Trican Well Service experienced a significant surge in activity today, as price action appears to be setting up near the apex of a significant consolidation/continuation pattern.

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

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 – 2024-03-19

A, AAON, ABBV, ACA, ACIW, ACM, ACN, ADM, ADSK, AEE, AEL, AEO, AEP, AGM, AGO, AIT, AIZ, ALAR, ALGN, ALKT, ALLE, ALPN, ALSN, AM, AMAT, AMP, AMR, AMWD, AMZN, ANF, ANIP, ANSS, AON, AOS, APA, APAM, APG, APH, APO, APOG, ARE, ARES, ARIS, ARLO, AROC, ASML, ATKR, AVAV, AVDX, AVY, AWI, AX, AXON, AXP, AYI, AZEK, AZO, AZZ, BAC, BAESY, BAH, BBVA, BBW, BBWI, BBY, BCC, BCO, BDX, BECN, BG, BIO, BK, BKNG, BKR, BLBD, BLD, BLDR, BLX, BR, BRK/B, BRO, BRP, BSX, BUR, BURL, BWXT, C, CAG, CAH, CARR, CASY, CAT, CBRE, CBT, CBZ, CCAP, CCCS, CCS, CDNS, CDW, CECO, CEG, CEIX, CENTA, CF, CFB, CGBD, CHRD, CHTR, CIVI, CL, CLF, CLH, CLX, CM, CMG, CMPR, CNC, CNM, CNO, CNP, CNX, COF, COO, COOP, COP, COR, CPB, CPG, CR, CRBG, CRH, CRL, CRM, CROX, CRS, CRVL, CSL, CSTM, CSWC, CSWI, CTAS, CTRA, CVI, CVS, CVX, CYBR, DAL, DASH, DAY, DCI, DD, DDS, DE, DEFTF, DHI, DHR, DHT, DINO, DIS, DK, DKNG, DKS, DMLP, DOC, DOCU, DOV, DPZ, DRI, DTE, DTM, DUOL, DVA, DVN, DXPE, DY, ED, EDU, EFX, EGY, EHC, EIX, ELV, EME, EMN, EMR, ENSG, ENVA, EOG, EPAC, EPD, ERJ, ESAB, ESOA, ET, ETN, ETR, ETRN, EVR, EVRG, EW, EXC, EXP, EXPE, EZPW, F, FANG, FAST, FBIN, FCN, FDS, FDX, FERG, FFIV, FI, FINMY, FIS, FIX, FLS, FLT, FOR, FOX, FRPT, FSS, FTAI, FTI, FTV, GBX, GD, GDYN, GE, GEHC, GEL, GFF, GFL, GGG, GIB, GIC, GIS, GLP, GLRE, GLW, GM, GMS, GNTX, GPC, GPI, GPK, GPN, GPOR, GPS, GRBK, GRC, GRMN, GS, GSK, GTES, GWW, H, HAL, HAS, HCA, HCI, HD, HEAR, HEES, HEI, HES, HESM, HIBB, HIG, HLT, HLX, HMC, HNI, HOLI, HON, HOV, HQY, HRI, HST, HSY, HUBS, HWM, IBM, IBOC, IBP, ICE, ICFI, ICLR, IHG, IHI, IIPR, ILMN, IMCR, ING, INSW, IP, IPAR, IQV, IR, IRM, IT, ITA, ITB, ITRN, ITT, ITW, IWF, IWM, J, JBI, JCI, JELD, JHX, JPM, K, KBH, KD, KEX, KEY, KHC, KMB, KMI, KMX, KNF, KOP, KR, KWR, L, LAUR, LBRT, LDOS, LECO, LEN, LHX, LII, LINC, LKQ, LLY, LMAT, LMT, LNT, LNW, LOGI, LOW, LPG, LPX, LRCX, LRN, LULU, LW, LYFT, LZ, MA, MAA, MAIN, MAMA, MANH, MAR, MAS, MBC, MCK, MCO, MCY, MDLZ, MFC, MGM, MGRC, MHK, MITK, MKC, MLI, MLM, MO, MOD, MOH, MORN, MPC, MRK, MRNA, MRO, MS, MSCI, MSFT, MSI, MTCH, MTDR, MTH, MTRN, MU, MYRG, NBIX, NBN, NDAQ, NEE, NET, NFLX, NI, NICE, NMIH, NOC, NOG, NPO, NR, NRG, NS, NTAP, NTB, NTRA, NTRS, NU, NUE, NVDA, NVMI, NVT, NWSA, NX, OC, OIH, OKE, OMC, OMI, ONON, ORCL, ORLY, OSIS, OSK, OTIS, OWL, OXY, PAA, PAGP, PARR, PATK, PAY, PBA, PCAR, PCOR, PEGA, PEP, PFBC, PFG, PFGC, PG, PH, PHM, PIPR, PKG, PLMR, PNC, PNR, PNTG, PNW, POOL, POST, POWW, PPG, PPL, PR, PRCT, PRI, PRU, PSN, PSX, PTC, PWP, PWR, PXD, QQQ, QSR, QTRX, RACE, RAMP, RBA, RCL, RDNT, REPYY, REVG, REX, RF, RHP, RJF, RL, RMD, ROAD, ROCK, ROL, ROP, ROST, RPAY, RPM, RRC, RS, RSP, RTX, RUSHA, RYAN, SAH, SCHW, SCS, SHAK, SHEL, SHOP, SHW, SIGI, SJM, SKT, SKWD, SLB, SM, SN, SNA, SNPS, SNX, SO, SPB, SPG, SPXC, SPY, SQSP, SRE, SSBK, SSNC, STLA, STLD, STN, STNG, STRL, STT, STZ, SUM, SUN, SWAV, SWBI, SWK, SWN, SYF, SYK, SYY, TAP, TCOM, TDG, TDW, TEL, TENB, TEX, TGLS, TGT, THC, TJX, TK, TKR, TM, TMHC, TMO, TNC, TNET, TNK, TOL, TPG, TPH, TPX, TRAK, TREX, TRGP, TRI, TRMB, TRNS, TRV, TS, TSCO, TSN, TT, TTD, TTEK, TTWO, TXRH, TXT, TYL, UAL, UAN, UBER, UFPT, UHS, UNH, UNM, UPBD, UPS, URBN, URG, URI, USAC, USLM, USO, V, VCTR, VEEV, VERX, VGT, VIST, VITL, VLO, VLTO, VNOM, VNT, VRRM, VRSK, VRSN, VRTX, VST, VTR, VVV, WAB, WAT, WBS, WCN, WDC, WELL, WES, WEX, WFRD, WING, WIRE, WMB, WMS, WRB, WRK, WSC, WSM, WSO, WTFC, WTS, WWD, WY, XHB, XLE, XLF, XLI, XLK, XLP, XLU, XLV, XLY, XOM, XOP, XYL, YUM, ZBH, ZGN, 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 – 2024-03-19

AC.TO, ACB.TO, ACO/X.TO, ACQ.TO, AD/UN.TO, ADEN.TO, AI.TO, ALA.TO, ALS.TO, AMZN.NE, AND.TO, APR/UN.TO, ARE.TO, ARG.TO, ARX.TO, ATRL.TO, ATZ.TO, BAM/A.TO, BBD/B.TO, BBU/UN.TO, BDGI.TO, BEI/UN.TO, BHC.TO, BIR.TO, BK.TO, BMO.TO, BN.TO, BNE.TO, BOFA.NE, BOS.TO, BPF/UN.TO, BRK.NE, BTE.TO, CAS.TO, CATR.NE, CCA.TO, CCL/B.TO, CEU.TO, CHP/UN.TO, CIG.TO, CIGI.TO, CITI.NE, CIX.TO, CJ.TO, CM.TO, CMG.TO, CNQ.TO, COST.NE, CPG.TO, CPLF.TO, CPX.TO, CRM.NE, CRON.TO, CRT/UN.TO, CSH/UN.TO, CSU.TO, CTS.TO, CVE.TO, CVS.NE, DC/A.TO, DF.TO, DFN.TO, DGS.TO, DII/B.TO, DIS.NE, DIV.TO, DNTL.TO, DOL.TO, EIT/UN.TO, ELD.TO, ENB.TO, ENS.TO, EQB.TO, ERF.TO, ET.TO, EU.V, EXE.TO, FAR.TO, FCR/UN.TO, FFH.TO, FFN/PA.TO, FRU.TO, FTN.TO, FTT.TO, GEI.TO, GFL.TO, GIB/A.TO, GIL.TO, GPAC.V, GRT/UN.TO, GSY.TO, GTE.TO, GTII.CA, GWO.TO, HD.NE, HDI.TO, HME.V, HWX.TO, IBM.NE, IFA.TO, IIP/UN.TO, IPCO.TO, JAG.TO, JPM.NE, KEY.TO, KMP/UN.TO, KRR.TO, L.TO, LCX.V, LFE.TO, LIF.TO, LLY.NE, MA.NE, MATR.TO, MAU.V, MDA.TO, MEG.TO, MFC.TO, MOGO.TO, MSFT.NE, MVRS.NE, MX.TO, NA.TO, NFI.TO, NGEX.TO, NNRG.NE, NVA.TO, NVDA.NE, NWH/UN.TO, OBE.TO, OGC.TO, OGI.TO, OSK.TO, OVV.TO, PD.TO, PET.TO, PEY.TO, PHX.TO, PMZ/UN.TO, POW.TO, PPL.TO, PRMW.TO, PSI.TO, PSK.TO, QSR.TO, RAY/A.TO, RBA.TO, REAL.TO, RSI.TO, RTX.NE, SCR.TO, SDE.TO, SGD.V, SGY.TO, SHLE.TO, SHOP.TO, SIA.TO, SJ.TO, SLF.TO, SOIL.TO, SPB.TO, STLC.TO, STN.TO, SU.TO, SVI.TO, TCW.TO, TF.TO, TFII.TO, TIH.TO, TKO.TO, TLRY.TO, TPZ.TO, TRI.TO, TVE.TO, UBER.NE, UPS.NE, URE.TO, VET.TO, VHI.TO, VISA.NE, VLE.TO, VNP.TO, WCP.TO, WED.V, WEED.TO, WELL.TO, WFG.TO, WN.TO, WRN.TO, WSP.TO, WTE.TO, XOM.NE, ZZZ.TO

 

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