SYS Research – Daily Report – Tuesday, November 21, 2023

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.

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SYS Daily Report

Market Rally Stalls Amidst Fed Minutes and Nvidia’s Earnings. GOLD Stocks Take Center Stage

The market rally faced headwinds as both the S&P 500 and Nasdaq concluded their five-day winning streaks in Tuesday’s session, just ahead of the release of the Federal Reserve minutes and Nvidia’s earnings report. While this marked a temporary setback, the underlying resilience of the recent stock market rally remains palpable, even as warning signs of overextension emerge in numerous leading stocks. Taking the spotlight today is GOLD, as its price action strategically positions itself below the upper trendline of its consolidation pattern. This setup has notably contributed to an increased presence of gold stocks in our daily setups section.

GOLD

Nvidia reported an impressive 206% increase in revenue in its latest quarter, surpassing Wall Street’s expectations. Furthermore, the company issued a revenue forecast for the January quarter that comfortably exceeded estimates. However, the stock’s substantial gains in 2023 left investors yearning for more, resulting in a wavering performance during after-hours trading.

Nvidia After-Hours Trading

The Dow Jones Industrial Average witnessed a modest decline of about 60 points in the market update, translating to a 0.2% decrease. The S&P 500 mirrored this 0.2% downturn, while the Nasdaq Composite experienced a more pronounced 0.6% dip. These nuanced market movements underscore the delicate balance investors navigate, especially in the aftermath of crucial events and corporate financial revelations.

The SSIH remains positioned in bullish territory.

SSIH

As Peter Schiff wisely observes, ‘Gold is not necessarily a hedge against monetary collapse, but rather against the policies that lead to monetary collapse.’ With this perspective, let’s seamlessly transition to our setups section, where we navigate the opportunities presented by the enduring allure of gold in today’s market landscape.

US Daily Setups

AGI – Alamos Gold Inc.

Alamos Gold is attempting to break out from a cup-with-handle type basing pattern, positioned below its 52-week highs. Keep a watchful eye for a potential breakout

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

 

EGO – Eldorado Gold Corp.

Eldorado Gold is attempting to break out from a cup-with-handle type basing pattern, positioned below its 52-week highs. Keep a watchful eye for a potential breakout

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

 

GDX – VanEck Vectors Gold Miners ETF

The VanEck Vectors Gold Miners ETF is starting to push above the upper trendline of the falling channel that we highlighted in the setups on November 16th. Price action is now positioned below the horizontal resistance trigger line. Watch for potential breakout signals.

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

 

GDXJ – VanEck Vectors Junior Gold Miners ETF

The VanEck Vectors Junior Gold Miners ETF appears to be setting up for a potential falling channel breakout. Keep a close watch for a potential surge in upside momentum.

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

 

KGC – Kinross Gold Corp.

Kinross Gold is presently consolidating below 52-week highs. Monitor closely for a breakout from this consolidation pattern, which would suggest a continuation of the uptrend.

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

 

WPM – Wheaton Precious Metals Corp.

Wheaton Precious Metals is now breaking out from the pattern we’ve been highlighting.

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

 

Canadian Daily Setups

AGI.TO – Alamos Gold Inc.

Alamos Gold is attempting to break out from a cup-with-handle type basing pattern, positioned below its 52-week highs. Keep a watchful eye for a potential breakout.

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

 

ELD.TO – Eldorado Gold Corp.

Eldorado Gold is attempting to break out from a cup-with-handle type basing pattern, positioned below its 52-week highs. Keep a watchful eye for a potential breakout.

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

 

K.TO – Kinross Gold Corp.

Kinross Gold is presently consolidating below 52-week highs. Monitor closely for a breakout from this consolidation pattern, which would suggest a continuation of the uptrend.

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

 

WDO.TO – Wesdome Gold Mines Ltd.

Wesdome Gold Mines is still positioned near the apex of a bottoming pattern. If the price of gold starts to break out, this chart could be worth adding to your watchlist.

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

 

WPM.TO – Wheaton Precious Metals Corp.

Wheaton Precious Metals is now breaking out from the pattern we’ve been highlighting.

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

 

XGD.TO – iShares S&P/TSX Global Gold Index ETF

The iShares S&P/TSX Global Gold Index ETF appears to be setting up for a potential falling channel breakout. Keep a close watch for a potential surge in upside momentum.

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

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.

A, AAON, ABBNY, ABT, ACGL, ACIW, ACN, ADBE, AFL, AFYA, AGI, AGO, AGRO, AIG, AJG, AKAM, AMCR, AMPH, ANET, APG, ARCH, ARCO, AROC, ATEYY, ATGE, ATR, AVAV, AXON, AZEK, AZO, BAESY, BALL, BBVA, BCC, BDX, BELFB, BG, BIO, BLD, BLK, BLKB, BR, BRBR, BRK/B, BRO, BRZE, BSX, CAH, CAMT, CAPL, CARG, CASY, CB, CBAY, CBOE, CCAP, CCI, CCJ, CDW, CECO, CEIX, CGBD, CHKP, CI, CIEN, CL, CME, CMG, CNA, CNC, CNM, CNO, COLL, COOP, COR, COST, CQP, CR, CRBG, CRESY, CRH, CSGP, CSWI, CSX, CTSH, CVLT, CW, DAC, DBX, DECK, DELL, DHR, DLR, DNN, DT, DUK, DXCM, EA, EADSY, ECL, EDU, EG, EGO, ELTK, ELV, EPD, EQIX, ERIE, ERJ, ESTC, ETHE, ETR, EXP, FCX, FDS, FDX, FE, FERG, FFIV, FICO, FTI, GBDC, GD, GE, GEHC, GEN, GFF, GFI, GGG, GL, GLOB, GLP, GLRE, GOOG, GOOGL, GPS, GRMN, GWW, H, HAYN, HEI, HIG, HLT, HRB, HRI, HUM, IBKR, ICE, ICLR, IDCC, IDXX, IGIC, IHG, IR, ISRG, IT, ITW, KEYS, KGC, KHC, KKR, KMI, KNSL, KOF, L, LAUR, LBRT, LDOS, LECO, LH, LHX, LII, LIN, LMT, LNG, LNW, LQDT, LSEA, LULU, LW, MA, MAIN, MANH, MAR, MBLY, MCD, MCK, MCO, MDB, MDLZ, MDT, MELI, MITK, MLM, MMC, MOD, MOH, MORN, MSCI, MSI, MTD, MUSA, NATR, NDAQ, NET, NEU, NFLX, NGVC, NKE, NLR, NOC, NOW, NPO, NSC, NU, NVS, NWSA, NXE, NYT, OBDC, ODFL, ORLY, OSG, OSK, PAGP, PANW, PARA, PARR, PCG, PDCO, PEG, PGR, PH, PKG, PLTR, PPG, PPL, PRI, PRU, PSN, PTC, PXD, QLYS, QSR, RDY, RELX, RGA, RJF, RNR, ROCK, ROL, ROST, RSG, RWAY, RYAN, SAIA, SAP, SCCO, SIGI, SKWD, SN, SNOW, SNPS, SO, SPGI, SRE, SRUUF, SSD, STLD, SYK, T, TFX, TGT, TMO, TMUS, TNET, TRAK, TRGP, TRI, TRIN, TRNS, TRV, TTE, TTWO, TW, TXT, UEC, UHS, UNH, UNP, URA, URNJ, URNM, V, VERX, VRNS, VRSK, VRSN, VRT, VZ, WAB, WAT, WELL, WIRE, WM, WMB, WMG, WPM, WRB, WSO, WTW, WWD, XYL, 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.

AAV.TO, ABX.TO, AEM.TO, AEP.V, AGI.TO, AMX.V, ARIS.TO, ARTG.V, ASE.CA, AYA.TO, CAS.TO, CDR.TO, CG.TO, CIG.TO, CIGI.TO, CMG.TO, COST.NE, CS.TO, DNG.TO, DPM.TO, DTC.CA, EDV.TO, EIT/UN.TO, ELD.TO, ENB.TO, ENGH.TO, EQX.TO, ERO.TO, ETHC.NE, EXE.TO, FC.TO, FIH/U.TO, FOM.TO, FVI.TO, GGD.TO, GMIN.V, GOLD.TO, GOLD.V, GOOG.NE, GTII.CA, GUD.TO, GWO.TO, H.TO, HME.V, HPS/A.TO, HUGE.CA, HWX.TO, IAG.TO, IAU.TO, IFC.TO, IMG.TO, INO/UN.TO, IVN.TO, JAG.TO, JPM.NE, JWEL.TO, K.TO, KEY.TO, KRR.TO, LBNK.V, LMN.V, LUN.TO, MA.NE, MEG.TO, MFC.TO, MMP/UN.TO, MNT.TO, NEO.TO, NGD.TO, NOVR.V, NWC.TO, OGC.TO, OIII.V, ONEX.TO, OR.TO, PKI.TO, PMZ/UN.TO, PRL.TO, PRYM.V, PSI.TO, PSLV.TO, RCI/B.TO, SEA.TO, SGD.V, SIL.TO, SLF.TO, SPB.TO, STLC.TO, TRP.TO, TRUL.CA, TSU.TO, TXG.TO, U/UN.TO, UNH.NE, URB/A.TO, VHI.TO, VLE.TO, VZ.NE, WCP.TO, WEB.V, WPM.TO

 

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