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
Stocks Drop as Inflation Data Dampens Rate Cut Expectations
On Wednesday, stock markets experienced a notable decline while bond yields surged, driven by the latest inflation report that tempered hopes of an imminent interest rate cut by the Federal Reserve. The decline was widespread, with 10 out of the 11 sectors of the S&P 500 registering losses.
S&P 500 Sectors
The Dow Jones Industrial Average fell approximately 423 points, or 1.1%, while the S&P 500 saw a nearly 1% drop. The Nasdaq Composite also experienced a decrease of 0.8%. However, all three indices rebounded slightly from their session lows during the final hour of trading.
Dow Jones Industrial Average – Daily Chart
S&P 500 – Daily Chart
Nasdaq – Daily Chart
The 2-year Treasury yield surged to 4.969% in a significant move, marking its most substantial one-day increase since March 27, 2023. Similarly, the 10-year yield climbed to a high of 4.568%, representing its largest single-day uptick since September 22, 2022.
10-Year US Treasury Yield
Following the release of the March consumer price index, which exceeded expectations, traders adjusted their expectations regarding potential rate cuts. According to the CME FedWatch Tool, traders now estimate just a 41% chance of at least one rate cut in the next three Federal Open Market Committee meetings. This marks a significant decline from Tuesday’s estimation of 75%, when traders speculated a 23.9% probability of a 50-basis-point cut by the July meeting. Now, onto the daily setups.
US Daily Setups
ALAB – Astera Labs Inc.
Astera Labs seems to be consolidating in a potential bull flag continuation pattern. Monitor for any potential signs of upside momentum.
LINK TO CHART – https://schrts.co/qhBYcsDX
BITB – Bitwise Bitcoin ETF
The Bitwise Bitcoin ETF is set up with Bitcoin’s price action. Monitor closely for any potential continuation of the uptrend.
LINK TO CHART – https://schrts.co/jzWXAgMD
BJ – BJ’s Wholesale Club Holdings, Inc.
BJ’s Wholesale Club is showing up on scan results today as price action sets up on the right side of a significant multi-year consolidation pattern. Monitor for any potential breakout signals.
LINK TO CHART – https://schrts.co/FjwIepQn
CCJ – Cameco Corp.
The uranium space experienced a robust start from the market opening. Watch for any potential signs of a continuation of the uptrend in Cameco’s price action.
LINK TO CHART – https://schrts.co/jexbhBvr
GEV – GE Vernova LLC
GE Vernova is a ticker we’ve been monitoring in the Slack workspace over the last few days. Today, price action broke out from the monitored trading range. Watch for any potential signs of continued upside momentum.
LINK TO CHART – https://schrts.co/ZUUhezpr
SRUUF – Sprott Physical Uranium Trust
Sprott Physical Uranium Trust continues to consolidate below a significant trigger line. Keep monitoring for any potential signs of breakout signals.
LINK TO CHART – https://schrts.co/WBjidufa
Canadian Daily Setups
BIR.TO – Birchcliff Energy Limited
Well, you know what Shakira says, ‘These hips or the scanner results don’t lie!’ And today, they’re telling us that our Canadian natural gas tickers are breaking out from our recently highlighted patterns. Even Birchcliff Energy is joining the party, hinting at a potential breakout from its bottoming pattern.
LINK TO CHART – https://schrts.co/VEdYYDTB
CNR.TO – Canadian National Railway Co.
Canadian National Railway is attempting to trend higher from a potential bull flag continuation pattern.
LINK TO CHART – https://schrts.co/DzPIZemm
FCU.TO – Fission Uranium Corp.
Fission Uranium is positioning itself below a horizontal resistance/trigger line. Watch for potential breakout signals.
LINK TO CHART – https://schrts.co/XWhBDgGf
GSY.TO – goeasy Ltd.
goeasy is consolidating below its 52-week highs in the form of a potential continuation pattern.
LINK TO CHART – https://schrts.co/yMMAQAPD
LAC.TO – Lithium Americas Corp.
Lithium Americas appears to be set up on the right side of a bottoming pattern. Keep an eye out for any potential breakout signals.
LINK TO CHART – https://schrts.co/AVFSCIAW
TCW.TO – Trican Well Service Ltd.
Trican Well Service saw another robust day as its action attempts to break out above the next level of horizontal resistance.
LINK TO CHART – https://schrts.co/RnJdVJSk
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 – 2024-04-10
ACGL, AGI, ALAB, ALL, ALPN, ALSN, AMZN, APLS, APO, ARES, AROC, AXON, BABA, BCSF, BG, BITO, BITW, BJ, BKNG, BROS, BUR, CAMT, CASY, CAT, CAVA, CCJ, CEG, CGBD, CHD, CHKP, CHRD, CINF, CIVI, CLF, CMG, CMI, CNM, CNQ, CNX, COIN, COP, COST, CPLP, CPNG, CRTO, CTRA, CVX, DASH, DB, DDOG, DE, DHT, DK, DNN, DPZ, DTM, DVN, EBAY, EDU, EGY, ENLC, EOG, ERIE, ET, EZPW, FANG, FCFS, FCNCA, FLR, FSLR, FTI, GBDC, GBTC, GD, GE, GEL, GEV, HAL, HEI, HES, HLX, HOLI, HQY, IBKR, IDR, IMO, INSW, IP, IZM, KNF, KNTK, KR, LBRT, LLY, LMAT, LMT, MCK, MCY, META, MMM, MMYT, MOD, MRK, MRO, MSTR, MTDR, NLR, NOC, NOG, NR, NRG, NTNX, NXE, OIH, OPRA, OSCR, OXY, PANW, PBR/A, PG, PRCT, PSTG, PXD, ROL, RRC, RSG, RUM, SFM, SHEL, SLB, SM, SPXC, SQSP, SRUUF, STNG, SWAV, TAP, TDG, TDW, TEAM, TFPM, TGLS, TKO, TNP, TRGP, TRMD, TS, TSCO, TTE, TW, UEC, URA, URG, URNJ, URNM, USO, VIST, VRT, VST, WCN, WEX, WFRD, WING, WMT, WPM, XLE, XOM, XOP, YUM
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 – 2024-04-10
AAV.TO, ABX.TO, ACB.TO, AFM.V, AGI.TO, AIDX.TO, AKG.TO, ALA.TO, AMZN.NE, ARG.TO, ARIS.TO, ARX.TO, ATH.TO, AYA.TO, BIR.TO, BTE.TO, CCO.TO, CEU.TO, CG.TO, CHR.TO, CJ.TO, CNL.TO, CNQ.TO, CNR.TO, CPG.TO, CR.TO, CS.TO, CURA.TO, CVE.TO, D/UN.TO, DBM.TO, DFY.TO, DML.TO, DOL.TO, DRDR.TO, DRX.TO, E.TO, EDR.TO, EDV.TO, EFX.TO, ERF.TO, ETHH.TO, ETL.V, EU.V, FAR.TO, FCU.TO, FDR.V, FEC.TO, FFH.TO, FFN/PA.TO, FIL.TO, FRU.TO, FTT.TO, GATO.TO, GAU.TO, GEO.TO, GFL.TO, GGD.TO, GPAC.V, GSY.TO, GTWO.V, GUD.TO, HITI.V, III.TO, IMO.TO, ISO.V, ITR.V, IVN.TO, KEL.TO, KTN.V, LAAC.TO, LAC.TO, LCX.V, LGC.V, LLY.NE, MATR.TO, MDA.TO, MDNA.TO, MEG.TO, MND.TO, MTY.TO, MUX.TO, MVRS.NE, NB.TO, NFLX.NE, NNRG.NE, NVA.TO, NVEI.TO, NXE.TO, OBE.TO, OLA.TO, OR.TO, OVV.TO, PALI.V, PD.TO, PEY.TO, PHX.TO, PHYS.TO, PNE.TO, POU.TO, PRL.TO, PSK.TO, PTI/UN.TO, PXT.TO, QBTC.TO, RBA.TO, RBY.TO, RCG.TO, ROOT.TO, SDE.TO, SES.TO, SGY.TO, SHLE.TO, SLS.TO, SOIL.TO, SSRM.TO, STEP.TO, SU.TO, SVM.TO, TCN.TO, TCW.TO, TECK/B.TO, TFPM.TO, TIH.TO, TOU.TO, TPZ.TO, TSU.TO, TVE.TO, TVK.TO, U/U.TO, U/UN.TO, URE.TO, VET.TO, VLE.TO, VNP.TO, WCN.TO, WCP.TO, WEED.TO, WIFI.CA, WILD.TO, WPM.TO, WRN.TO, X.TO
