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.
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
Key Indices, Commodities, and Earnings Insights
The stock market experienced mixed results on Tuesday, with the Nasdaq Composite leading gains, rising 0.8% to reach a new high. The S&P 500 gained 0.2%, while the Dow Jones Industrial Average lagged, slipping 0.4%. Investors will closely watch earnings reports from major tech companies, including Meta, Microsoft, Amazon, and Apple, following Alphabet’s strong Q3 earnings, which led to a 5% rise in after-hours trading. Tesla declined by 1.1%, impacted by weak China EV registrations and insider selling, reflecting broader challenges in the electric vehicle market.
Nasdaq – Daily Chart
S&P 500 – Daily Chart
Dow Jones Industrial Average – Daily Chart
Small-Cap Performance: The Russell 2000 index declined 0.3% after Monday’s strong 1.6% rally, while the S&P SmallCap 600 rose 1.5%, reflecting investor interest in undervalued segments of the market.
Russell 2000 (ETF) – Daily Chart
The 10-year U.S. Treasury yield remained steady at 4.272%, maintaining pressure on interest-rate-sensitive sectors such as utilities and real estate. High yields are making borrowing more expensive, dampening growth prospects for these sectors. However, price action could be running into the underside of resistance as it sits at a critical level.
10-Year US Treasury Yield
Gold climbed 0.9% to settle at $2,781.10 per ounce, nearing record highs, driven by increased demand for safe-haven assets amidst global uncertainty, including the upcoming U.S. presidential election, the devaluation of money, and Chinese economic stimulus. Silver also gained, highlighting strong investor interest in diversifying risk. Analysts forecast that gold could reach $2,850 per ounce soon. Bitcoin rallied above $73,000, benefiting from optimism around a potential Trump election victory, the printing of money, and the potential of looming trouble in the bond market.
Gold – Daily Chart
Silver – Daily Chart
Steel Market: Hot-rolled coil steel prices have dropped 18% over the last six months and have remained flat recently as global markets await more clarity on economic policies. Steel producers like Nucor are cautious, especially ahead of the U.S. elections. BlueScope Steel issued a profit warning, cutting its first-half EBIT forecast by 25% due to continued oversupply and weak demand.
TSX Update: The TSX Composite Index in Canada ended slightly lower, down 3.11 points (0.01%) to 24,562.55, marking its sixth decline in seven trading sessions. Interest-rate-sensitive sectors led the decline, with utilities down 1.8%, real estate down 0.4%, and financials slipping 0.2%. On the positive side, the materials sector rose by 1.5%, driven by surging gold prices, while energy stocks dropped 0.7% following a decline in crude oil prices to $67.21 per barrel.
TSX – Daily Chart
Earnings Highlights: In addition to Alphabet, other notable earnings reports included McDonald’s, which struggled to surpass its 50-day moving average after reporting mixed Q3 results. Advanced Micro Devices (AMD) saw its shares fall in extended trading despite slightly beating earnings estimates due to a weaker outlook for the coming quarters. Cadence Design Systems and Commvault Systems both saw gains. Commvault raised its guidance, driving optimism among investors.
Outlook and Conclusion: The stock market remains volatile, with investors facing macroeconomic uncertainties, the upcoming U.S. elections, and significant corporate earnings. The continued rally in gold and silver underscores a shift towards safe-haven assets as market participants brace for potential instability. Rising yields are putting pressure on rate-sensitive sectors, and the broader market awaits clearer guidance from upcoming economic indicators and Federal Reserve actions. Investors should focus on high-quality growth opportunities with best-of-breed setups, manage exposure to vulnerable sectors while defining downside risks, and consider monitoring precious metals and Bitcoin-related names for the of potential momentum to continue.
“Momentum is enticing, but discipline lies in setting a stop-loss to keep greed in check.” – Bruce Kovner
Now, onto the daily setups.
US Daily Setups
ARM – Arm Holdings Plc
Arm Holdings is attempting to break out above a horizontal resistance line. This move indicates potential bullish momentum as the stock seeks to establish itself above this critical level, suggesting a possible shift in market sentiment.
LINK TO CHART – https://schrts.co/jPtIWIEC
COCO – Vita Coco Company Inc.
Vita Coco is set to report earnings tomorrow, and holding through an earnings report without some form of risk management can be akin to gambling. With that said, price action is attempting to break out from the apex of a significant multi-year consolidation/continuation pattern. At the same time, the weekly PPO momentum indicator curls higher from the zero line. It will be important to monitor how the stock reacts following the earnings report to assess potential market direction.
LINK TO CHART – https://schrts.co/wfhHsBbV
GDX – VanEck Vectors Gold Miners ETF
The VanEck Vectors Gold Miners ETF appears to be setting up in the form of a potential bullish flag retest of the recent breakout line. Monitor for upside momentum as price action in gold continues to break out. Additionally, consider keeping GDXJ and your favorite gold mining stocks on your watchlist for further opportunities.
LINK TO CHART – https://schrts.co/GEMVHeZv
GLD – SPDR Gold Shares
The SPDR Gold Shares ETF is the gift that keeps on giving as it touches another new all-time high. This achievement reflects strong bullish momentum and sustained interest in gold, indicating that the upward trend may continue as investors seek safe-haven assets.
LINK TO CHART – https://schrts.co/KdTUCCYS
NU – Nu Holdings Ltd.
Nu Holdings is attempting to break out from a consolidation area.
LINK TO CHART – https://schrts.co/dbtPnbJE
PENN – Penn National Gaming, Inc.
Penn National Gaming is pushing up against the underside of a horizontal resistance line. Monitor for any potential breakout signals as the stock approaches this critical level, which could indicate a shift in momentum.
LINK TO CHART – https://schrts.co/MtsxjTmq
RXST – RxSight Inc.
RxSight appears to be setting up as a potential continuation wedge.
LINK TO CHART – https://schrts.co/TVsXTZMQ
SIL – Global X Silver Miners ETF
The Global X Silver Miners ETF appears to be breaking out from a bullish flag continuation pattern as precious metals move higher. This momentum suggests the potential for further gains in the sector. Additionally, keep SILJ and your favorite silver mining stocks on your watchlist for additional opportunities as the market evolves.
LINK TO CHART – https://schrts.co/sPKYmJPn
SLV – iShares Silver Trust
The iShares Silver Trust ETF is attempting to break out from a bullish flag continuation pattern as price action consolidates above its upward-sloping moving average in accordance with system rules. This setup indicates potential bullish momentum, suggesting that the trust (along with the price action of silver) may be poised for upward movement as it continues to gain strength.
LINK TO CHART – https://schrts.co/upHKfFpN
Canadian Daily Setups
AGI.TO – Alamos Gold Inc.
Alamos Gold is attempting to move higher from a bullish flag retest at the recent breakout line. This action suggests a consolidation phase that could lead to further upward momentum as the stock seeks to establish itself above this key level.
LINK TO CHART – https://schrts.co/kBeJqIjD
ATX.V – ATEX Resources Inc.
ATEX Resources continues to see bullish price action following the breakout of the recently highlighted consolidation pattern. This upward movement indicates strong momentum and suggests that the stock may continue to attract buying interest as it progresses.
LINK TO CHART – https://schrts.co/kBeJqIjD
LUN.TO – Lundin Mining Corp.
Lundin Mining is attempting to break out from a rounded bottom pattern. This setup indicates a potential shift in momentum as the stock seeks to establish itself above key resistance levels.
LINK TO CHART – https://schrts.co/FifbCwRA
MND.TO – Mandalay Resources Corp.
Mandalay Resources is attempting to move higher from the bullish pennant pattern recently highlighted. This upward movement suggests potential bullish momentum as the stock seeks to build on its recent gains and break through key resistance levels.
LINK TO CHART – https://schrts.co/sjCzxstm
PAAS.TO – Pan American Silver Corp.
Pan American Silver is consolidating in the form of a potential bullish flag continuation pattern. This setup indicates a period of indecision that could precede a breakout, suggesting that the stock may be poised for upward movement as it navigates through this phase.
LINK TO CHART – https://schrts.co/grDfjJhC
PSLV.TO – Sprott Physical Silver Trust
The Sprott Physical Silver Trust ETF is attempting to break out from a bullish flag continuation pattern as price action trends above its upward-sloping moving average in accordance with system rules. This setup indicates potential bullish momentum, suggesting that the trust (along with silver) may be poised for further upward movement as it gains strength.
LINK TO CHART – https://schrts.co/QqHrbksw
XGD.TO – iShares S&P/TSX Global Gold Index ETF
The iShares S&P/TSX Global Gold Index ETF appears to be setting up in a bullish flag that correlates with many of the gold mining stocks. Monitor for continuation and upside momentum as the stock approaches key resistance levels. Additionally, consider keeping all your favorite gold mining stocks, along with silver names, on your watchlist for potential trading opportunities.
LINK TO CHART – https://schrts.co/ZyDMjzVY
To conclude our report, we thank you for your engagement and insights. Your feedback is valuable, 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 – 2024-10-29
AA, AAPL, ACM, ADEA, ADI, ADSK, ADUS, AEHR, AEM, AFRM, AGI, AGIO, AGX, AHCO, AIT, AKAM, ALSN, ALTR, AMD, AME, AMP, AMZN, ANET, ANSS, ANY, AORT, APH, APLT, APO, APP, AQST, ARIS, ARLP, ARM, ARMN, ASPI, ASTS, ATAT, ATGE, ATYR, AU, AUR, AVB, AVGO, AVPT, AWP, AXP, AXS, AYI, BABA, BAC, BBAI, BBAR, BDx, BEKE, BFLY, BHE, BILI, BK, BKNG, BL, BLBD, BLOK, BLTE, BMA, BMEA, BWXT, BYRN, C, CACI, CADE, CAPR, CART, CCB, CCL, CDE, CDNS, CDW, CGAU, CHH, CIBR, CIEN, CIGI, CIM, CLBT, CLH, CLPT, CLS, CM, CMA, CMCSA, CMTL, CNK, CNO, CNP, COF, COGT, COHR, COIN, COMM, CORZ, CPNG, CPRT, CR, CRDO, CRH, CRK, CRM, CRTO, CRWD, CSCO, CSTL, CSV, CTAS, CTBI, CTVA, CUK, CVLT, CVNA, CW, CWAN, DAKT, DAL, DASH, DAY, DB, DCI, DCTH, DDL, DDOG, DE, DELL, DFS, DG, DGX, DIS, DJT, DLR, DOCN, DOCS, DOCU, DORM, DOV, DOYU, DQ, DRD, DRS, DSGX, DT, DTM, DUOL, EA, EAT, EBS, ECL, ED, EDN, EDR, EGO, EHC, ELDN, EME, EMR, ENVA, EQBK, EQH, EQR, ERIC, ES, ESAB, ESOA, ESQ, ESS, ETR, EWBC, EXC, EXE, EXEL, EXK, EXP, EXPD, EXR, FAST, FDS, FDX, FFIV, FICO, FLS, FLUT, FN, FNKO, FOX, FRT, FSM, FSV, FTAI, FTDR, FTEL, FUTU, FXI, GAP, GBTC, GBX, GD, GDDY, GDX, GDXJ, GEL, GEN, GEV, GFL, GIL, GKOS, GL, GLBE, GLD, GLW, GMED, GNSS, GOLD, GOOG, GOOGL, GPI, GS, GSHD, GTLB, GVA, GWRE, HAFC, HALO, HAYW, HIVE, HL, HLNE, HLT, HMY, HOLX, HOOD, HPE, HSBC, HSY, HUT, HWM, HYG, HYLN, IBKR, IBN, IBOC, ICE, ICFI, IDE, IDR, IDT, IESC, IGIC, IGV, IHI, IIPR, INCY, INFL, INFN, INOD, INSG, IRM, IRS, IT, ITGR, ITT, IVZ, IWF, IWM, J, JBHT, JBL, JEF, JHG, JXN, KARO, KGC, KGS, KNF, KNTNF, KVYO, LDOS, LEU, LGND, LH, LINC, LIT, LMB, LMND, LNC, LNT, LNTH, LOAR, LOMA, LOVE, LPLA, LUMN, LUNR, LUV, LYFT, LYV, LZB, MA, MAG, MAR, MARA, MBC, MBWM, MCY, MDT, MELI, MET, META, METV, MFC, MFG, MGI, MGM, MIRM, MKTX, MLM, MLI, MLM, MNDY, MO, MOD, MOMO, MP, MPWR, MRX, MS, MSCI, MSFT, MSTR, MTB, MTCH, MTSI, MUR, NBN, NCLH, NCNO, NDAQ, NEE, NET, NI, NIO, NVDA, NXPI, NYT, OC, OCUL, ODFL, OHI, OKLO, OLED, ON, ONTO, OPBK, OPFI, OPRA, OXY, OII, OR, ORRF, OSPN, OWL, PAAS, PACS, PANW, PATK, PAY, PAYC, PAYX, PBI, PCT, PEGA, PENN, PFSI, PH, PINE, PL, PLXS, PM, PNC, POR, POWL, PPC, PPG, PPL, PRCT, PRI, PRIM, PRK, PRU, PSN, PTC, PTCT, PTGX, PWP, PWR, PYPL, QCRH, QFIN, RACE, RBA, RBLX, RBRK, RCL, RDDT, RDN, RDNT, RDVT, REG, RELX, REPL, RERE, REVG, RF, RGLD, RGF, RJP, RMD, RMTI, ROP, RSG, RXST, RYAN, RYTM, RZLT, S, SA, SAP, SBRA, SDA, SEIC, SEM, SHOP, SIL, SILJ, SIRI, SKE, SKYW, SLG, SLV, SMH, SMLR, SNA, SNEX, SNPS, SOFI, SOLV, SOUN, SPB, SPG, SPHR, SPOT, SPY, SQ, SQM, SRE, STLD, STT, SUPN, SUPV, SYK, T, TCBX, TDS, TEAM, TECX, TEL, TEVA, TFC, TFPM, TGS, TGTX, THC, THRD, TIGO, TKNO, TPG, TPL, TRI, TRMB, TSLA, TSM, TTD, TTEK, TTGT, TTWO, TVTX, TWFG, TWST, TXN, TXRH, TYL, U, UAA, UBER, UBS, UFPT, ULS, UNIT, USAP, USFD, USLM, UTI, UVSP, V, VCTR, VCYT, VEEV, VGT, VMC, VRNS, VRT, VSEC, VTR, WD, WAB, WB, WGMI, WLDN, WLY, WM, WPM, WST, WTW, WYNN, XBI, XLC, XLF, XLK, XLU, XME, XNET, XOMA, XPH, XPO, XRT, YMM, YOU, YUMC, ZBH, ZBRA, ZM, ZS, ZTO
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 – 2024-10-29
AAPL.NE, AAUC.TO, ABRA.V, ABX.TO, AEM.TO, AFM.V, AFN.TO, AG.TO, AGI.TO, ALS.TO, AMD.NE, AMZN.NE, AND.TO, APR/UN.TO, ARE.TO, ARG.TO, ARIS.TO, ASTL.TO, ATX.V, AVGO.NE, AYA.TO, BAM.TO, BB.TO, BBD/B.TO, BITF.TO, BK.TO, BNS.TO, BOIL.CA, BTO.TO, BYD.TO, CAE.TO, CEF.TO, CFW.TO, CG.TO, CIG.TO, CIGI.TO, CIX.TO, CJT.TO, CNL.TO, CRWD.NE, CSU.TO, CWB.TO, CXB.TO, DCBO.TO, DEFI.NE, DFN/PA.TO, DFY.TO, DGHI.V, DNG.TO, DOL.TO, DPM.TO, DSG.TO, DSV.TO, EDR.TO, EDV.TO, EFN.TO, ELD.TO, EQX.TO, ETHC.NE, ETHH.TO, EU.V, FDR.V, FFH.TO, FFN.TO, FFN/PA.TO, FIL.TO, FN.TO, FNV.TO, FOM.TO, FSV.TO, FTG.TO, FTN.TO, FVI.TO, GAU.TO, GEO.TO, GFL.TO, GGD.TO, GIB/A.TO, GIL.TO, GLO.TO, GLXY.TO, GOLD.TO, GOOG.NE, GWO.TO, HIVE.V, HME.V, IAU.TO, IFC.TO, IFX.V, IMG.TO, ITR.V, IVN.TO, K.TO, KEL.TO, KNT.TO, KRY.V, KSI.TO, KXS.TO, L.TO, LAAC.TO, LAC.TO, LFE.TO, LGO.TO, LIF.TO, LLY.NE, LQWD.V, LSPD.TO, LUG.TO, LUN.TO, MAG.TO, MAW.V, MDA.TO, META.NE, MFG.V, MND.TO, MNT.TO, MSA.TO, MSFT.NE, MTY.TO, MUX.TO, NA.TO, NEO.TO, NG.TO, NGD.TO, NGEX.TO, NUAG.TO, NVDA.NE, NVEI.TO, NWC.TO, OGC.TO, OLA.TO, ONEX.TO, OR.TO, ORA.TO, OTEX.TO, PAAS.TO, PEY.TO, PHYS.TO, PNG.V, POW.TO, PPTA.TO, PRB.TO, PRL.TO, PRU.TO, PRYM.TO, PSK.TO, PSLV.TO, PUR.V, QBTC.TO, RAAA.TO, RAY/A.TO, RBA.TO, REG.V, SEA.TO, SES.TO, SHOP.TO, SIL.TO, SKE.TO, SLI.V, SSL.TO, SSRM.TO, STC.TO, STLC.TO, STN.TO, SVM.TO, TCL/A.TO, TFPM.TO, TINY.V, TKO.TO, TPZ.TO, TRI.TO, TTNM.TO, TUD.V, TXG.TO, VHI.TO, VLN.TO, VNP.TO, VZLA.V, WCN.TO, WE.V, WEX.V, WILD.TO, WN.TO, WPK.TO, WPM.TO, WSP.TO, X.TO, ZDC.V
