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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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
Bond Yields Take a Dive as Markets Soar
In a surprising turn of events, the market witnessed an influx of sideline money forced to scale the formidable “wall of worry” today, accompanied by robust trading volumes. The impetus for this surge was the burgeoning optimism around a potential year-end rally that we talked about in the weekend report, a prospect that gained traction following the release of fresh data revealing a more significant-than-anticipated easing of inflationary pressures.
S&P 500
Nasdaq
Stocks catapulted to higher grounds, propelling the S&P 500 and Nasdaq to their most substantial single-day gains since April. The S&P 500 surged by 1.9%, amplifying its November accruals to an impressive 7.2%. Simultaneously, the Nasdaq Composite posted a noteworthy 2.4% gain, pushing its monthly advance to nearly 10%. The Dow Jones Industrial Average, not to be left behind, recorded an uptick of 490 points, marking a 1.4% rise and an overall monthly increase of 5.4%.
The SSIH experienced a notable surge today, positioning itself within the bullish upper bound for the first time since early August.
SSIH
The fervor extended to the government bond arena, where intense activity caused the yield on the 10-year Treasury note to plummet to 4.440% — its most significant single-day drop since March as it sliced through the 50-day moving average. Likewise, yields on 2-year Treasurys, known for their sensitivity to interest rates, saw a precipitous decline to 4.813%. This inverse relationship between yields and bond prices underscores the market’s response to the current economic dynamics.
10-Year Treasury Yield
The Technology Select Sector SPDR Fund ETF achieved a milestone today by closing at a record high. This ascent aligns seamlessly with a technical buy signal identified on November 6th in the Daily Setups, a prescient observation we made that has now materialized into a notable market event. The lesson here is clear — paying heed to technical setups can unveil opportunities before they become mainstream, as demonstrated by leading companies breaking out from established patterns while others grapple with predicting broader index movements.
Technology Select Sector SPDR Fund
Presently, the landscape is akin to a high-stakes chess game. Those not strategically positioned may find themselves in a precarious situation, kinda like a deer caught in headlights, teetering on the edge of chasing the market. Notably, stalwarts such as the Technology SPDR Fund and Microsoft, which we highlighted for initiating a technical buy signal on October 30th, have been on a sustained upward trajectory. While many high-performing stocks have already surged beyond their initial buy points, the challenge now lies in identifying new setups with favorable risk-reward ratios.
Microsoft
Our approach remains resolute — diligently working through our watchlist, seeking add-on entries in our best performers, and discerning potential opportunities among the best-of-breed laggards exhibiting compelling technical setups. Staying ahead in a market characterized by swift movements necessitates a judicious blend of vigilance and strategic insight, which we hope our setups provide. As Jesse Livermore wisely noted, ‘In a bull market, one’s toughest job is to prevent oneself from making easy money.’ Keeping this insight at the forefront, let’s now delve into our daily setups.
US Daily Setups
APPF – AppFolio, Inc.
AppFolio seems to be breaking out to a new all-time high from a basing pattern, highlighting a positive trend in its market performance.
LINK TO CHART – https://schrts.co/mjDIWsqW
DFH – Dream Finders Homes Inc.
Dream Finders Homes is pressing against horizontal resistance, with the PPO momentum indicator making attempts to break out above the zero line. Keep a close eye for a potential continuation of upside strength.
LINK TO CHART – https://schrts.co/uuJPNiwC
DKNG – DraftKings Inc
DraftKings is breaking out to a new 52-week high, showcasing a positive momentum in its recent market performance.
LINK TO CHART – https://schrts.co/WfxbMBJx
JPM – J.P. Morgan Chase & Co.
J.P. Morgan is initiating a push above the upper trendline of a continuation wedge, signaling a potentially positive development in its market trajectory.
LINK TO CHART – https://schrts.co/GCUerfck
PLTR – Palantir Technologies, Inc.
Palantir continues to witness bullish volume as price action sets up below 52-week highs, indicating positive market sentiment and potential upward momentum.
LINK TO CHART – https://schrts.co/dEQfpKzb
SMCI – Super Micro Computer, Inc
Super Micro Computer has consolidated within the confines of a continuation wedge. Keep a vigilant eye for potential breakout signals.
LINK TO CHART – https://schrts.co/FpekvvrT
SRUUF – Sprott Physical Uranium Trust
The Sprott Physical Uranium Trust appears to be poised for a new 52-week high breakout, suggesting a potential positive shift in its market trajectory.
LINK TO CHART – https://schrts.co/DuPeZMaY
TSLA – Tesla Inc.
Tesla is breaking out from its bottoming pattern, recently highlighted off the support line. Monitor for continued upside strength that could potentially lead to a breakout.
LINK TO CHART – https://schrts.co/zNZucWMr
Canadian Daily Setups
CTS.TO – Converge Technology Solutions Corp.
The recently highlighted Converge Technology setup is now initiating a breakout above the pattern’s upper trendline, suggesting potential positive momentum in the market.
LINK TO CHART – https://schrts.co/CtwwQYzS
FCU.TO – Fission Uranium Corp.
Fission Uranium is consolidating below its 52-week highs with a bullish volume profile. Keep a close eye for potential breakout signals.
LINK TO CHART – https://schrts.co/xrxFsvFH
H.TO – Hydro One Limited
Hydro One is initiating a push above a horizontal resistance line, signaling a potential positive shift in its market dynamics.
LINK TO CHART – https://schrts.co/gjQrgYSs
NVDA.NE – NVIDIA Corp – Canadian Depository Receipt
NVIDIA is maintaining an upward trajectory, demonstrating strength after a breakout from a continuation wedge.
LINK TO CHART – https://schrts.co/iWnFzUnI
TSLA.NE – Tesla Inc. – Canadian Depository Receipt
Tesla is breaking out from its bottoming pattern, recently highlighted off the support line in the US Setups. Monitor for continued upside strength that could potentially lead to a breakout.
LINK TO CHART – https://schrts.co/mWJTBecJ
U/UN.TO – Sprott Physical Uranium Trust
The Sprott Physical Uranium Trust continues to be poised for a new 52-week high breakout, suggesting a potential positive shift in its market trajectory.
LINK TO CHART – https://schrts.co/hVZzPxYP
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.
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.
