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
Powell Maintains Prospect of Rate Cuts in 2024, but Signals Caution
Federal Reserve Chair Jerome Powell continues to anticipate rate cuts later this year, although immediate adjustments appear unlikely. There’s speculation that his stance might be influenced by political considerations, possibly aligning with the Biden administration’s preferences ahead of the elections, despite overlooking actual inflationary pressures.
Market activity on Wednesday reflected this uncertainty, with stocks experiencing a mixed performance amidst Powell’s remarks, which added to the volatility. While the S&P 500 and Nasdaq Composite managed slight gains, the intraday fluctuations suggested lingering apprehension among investors.
The Dow Jones Industrial Average concluded the session with a marginal decline of 0.1%, while the S&P 500 edged up by 0.1%, and the Nasdaq advanced by 0.2%.
Dow Jones Industrial Average – Daily Chart
S&P 500 – Daily Chart
Nasdaq – Daily Chart
Bond markets exhibited more definitive movements, as the 10-year yield retreated to 4.355%, ending a two-day trend of increasing yields. Conversely, the 2-year yield, which tends to be more sensitive to interest rate changes, decreased by 0.020 percentage points to 4.679%.
10-Year US Treasury Yield
Yields initially surged at the outset of the day but stabilized following Powell’s reiteration of the Fed’s intention to potentially lower rates in the coming months. This assurance came as a relief to investors amidst recent stronger-than-anticipated economic data.
In commodities, crude oil futures settled at $85.43 per barrel, reflecting a modest 0.3% increase. Meanwhile, gold prices reached a record high at $2,315 as the US dollar reversed its trajectory in response to interest rate dynamics. This movement contributed to the continued ascent of the resource ETFs we’ve been monitoring.
US Dollar – Weekly Chart
Crude Oil – Weekly Chart
Gold – Weekly Chart
It’s worth noting the results from our scanner, with natural gas names recurring frequently, particularly on the Canadian side. This trend indicates a potential burgeoning interest or heightened activity within the sector, especially as the price action on each chart appears to be setting up near a horizontal resistance line. This underscores the need for additional scrutiny and analysis to accurately gauge the implications. Now, onto the daily setups.
US Daily Setups
DINO – HF Sinclair Corporation
HF Sinclair is currently attempting to break out from a multi-month consolidation pattern.
LINK TO CHART – https://schrts.co/aFWSHTjN
GFI – Gold Fields Ltd.
Gold Fields seems to be positioned favorably on the right side of a significant multi-year base. Monitor closely for any potential signs of upward momentum.
LINK TO CHART – https://schrts.co/HhGwjUnU
ORCL – Oracle Corp.
Oracle is appearing on today’s scan results as price action attempts to move higher from a potential bull flag continuation pattern.
LINK TO CHART – https://schrts.co/idfdrCQP
SMR – NuScale Power Corporation
NuScale Power is showing up on scan results as its price action pushes against the underside of a major horizontal resistance line. The stock is exhibiting high volatility and is not suitable for risk-averse investors. However, potential trades may be available for those capable of swift movements in and out of the stock.
LINK TO CHART – https://schrts.co/gHZXEHVJ
TEX – Terex Corp.
Terex is currently attempting to break out from the right side of a significant multi-month consolidation pattern.
LINK TO CHART – https://schrts.co/VZRWBihx
TRMD – Torm Plc
Torm was the name discussed in the Slack workspace today, as its price action attempts to break out from a continuation pattern.
LINK TO CHART – https://schrts.co/PHuZyMIP
Canadian Daily Setups
AEP.V – Atlas Engineered Products Ltd.
Atlas Engineered Products is currently attempting to break out to a new 52-week high.
LINK TO CHART – https://schrts.co/USysPpha
CURA.TO – Curaleaf Holdings, Inc.
Curaleaf continues to set up below its 52-week high as its price action mirrors the MSOS ETF.
LINK TO CHART – https://schrts.co/ftTWaCHk
EFX.TO – Enerflex Ltd.
Enerflex is experiencing a surge in volume today as its price action begins to move higher from a bull flag continuation pattern.
LINK TO CHART – https://schrts.co/hGDtXAAE
KEL.TO – Kelt Exploration Ltd.
Kelt Exploration continues to appear on scan results alongside other natural gas names. Monitor closely for any signs of upside strength as price action sets up below the horizontal trigger line.
LINK TO CHART – https://schrts.co/RVEcQyYs
NOA.TO – North American Construction Group Ltd
A member in the Slack workspace highlighted North American Construction, as its price action seems to be setting up in a sloppy cup with a handle-type consolidation pattern.
LINK TO CHART – https://schrts.co/tWvyHYDK
TCW.TO – Trican Well Service Ltd.
The Trican Well Service setup is finally breaking out from its tight apex with a massive surge in volume.
LINK TO CHART – https://schrts.co/hVdzuFwT
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 – 2024-04-03
AAON, ABBNY, ACA, ACGL, ACIW, ACM, ACMR, ADI, AEL, AEM, AER, AES, AFL, AGI, AGYS, AIT, ALAR, ALB, ALG, ALL, ALSN, AM, AMAT, AME, AMP, AMWD, AMZN, ANET, ANSS, AOS, APAM, APG, APH, APO, APOG, APP, ARCB, ARES, ARIS, AROC, ASML, ASND, ASR, ASTH, ATI, ATKR, ATR, AU, AVAV, AVB, AVGO, AVY, AXP, AYI, AZEK, AZZ, BAC, BAH, BAM, BAND, BAX, BBVA, BCC, BCSF, BDX, BECN, BEN, BF/B, BITQ, BITW, BK, BKNG, BKR, BLBD, BLD, BLDR, BLOK, BLX, BMA, BRC, BRK/B, BRP, BSX, BVN, BWA, BZ, CASY, CAT, CAVA, CBRE, CBT, CCCS, CCJ, CCS, CDNS, CDRE, CDW, CE, CECO, CEG, CF, CGBD, CHRD, CIVI, CLF, CLH, CLS, CM, CMPR, CNA, CNM, CNO, CNX, CNXN, COLL, COP, COPX, COR, CPAY, CPG, CPRT, CR, CRAI, CRBG, CRH, CRM, CRS, CRTO, CRWD, CSGP, CSTM, CSWC, CSWI, CTAS, CTLT, CTVA, CVI, CVLT, CVX, CW, DAC, DASH, DB, DCI, DD, DE, DEFTF, DELL, DFH, DG, DGHI, DGX, DHI, DHT, DINO, DK, DKNG, DMLP, DNN, DOC, DOCU, DORM, DOW, DPZ, DTM, DUOL, DVN, DXCM, DXPE, DY, E, EADSY, EAT, EDR, EDU, EGO, EGY, EHC, EME, EMN, EMR, ENLC, ENPH, ENTG, ENVA, EOG, EPAC, EPD, EQR, EQT, ERJ, ERO, ESAB, ESEA, ESOA, ESS, ET, ETN, ETRN, EVR, EXP, F, FANG, FBIN, FBP, FCFS, FCX, FDX, FERG, FFIV, FIHL, FINMY, FIX, FLEX, FLR, FLS, FN, FNF, FOR, FOX, FRO, FRT, FSS, FTAI, FTI, FTNT, FUTU, GBX, GCT, GD, GDX, GDXJ, GDYN, GE, GEHC, GEL, GEOS, GFF, GFI, GGG, GLD, GLP, GLRE, GLW, GM, GMS, GNRC, GOLF, GOOG, GOOGL, GPOR, GRBK, GRVY, GS, GTES, GVA, GWW, H, HAL, HBAN, HCA, HEES, HESM, HIG, HIMS, HLNE, HLT, HLX, HMC, HMY, HNI, HOLX, HOOD, HOV, HPE, HPQ, HRI, HUBB, HUBS, HWKN, HWM, IAG, IBM, IBP, IDT, IESC, IFF, IHG, IIPR, IMCR, IMO, INDV, INFA, ING, INSW, IP, IR, IRM, IT, ITB, ITGR, ITW, IVZ, IWF, IWM, JBHT, JBL, JELD, JNPR, KD, KEX, KEYS, KGC, KKR, KLAC, KMI, KNF, KNTNF, KOP, KRT, KTOS, L, LAUR, LBRT, LECO, LEN, LII, LLY, LMND, LNC, LOGI, LPG, LPX, LRCX, LSEA, LVS, LWAY, LYB, MAR, MAS, MBC, MCHP, MCK, MCO, MEDP, MET, META, MFC, MGM, MHK, MLI, MLM, MLR, MMC, MMYT, MOD, MOG/A, MORN, MPC, MPLX, MRO, MS, MSOS, MTCH, MTD, MTDR, MTH, MTSI, MU, MUSA, MYRG, NBN, NCNO, NDAQ, NDSN, NEM, NFLX, NGS, NLR, NMIH, NMM, NOA, NOG, NPO, NR, NRG, NS, NSIT, NTAP, NTNX, NTRA, NTRS, NU, NUE, NVMI, NVO, NVT, NX, NXE, NXPI, OC, ODFL, OIH, OII, OMI, ONTO, OPRA, OR, ORCL, OSG, OSIS, OSK, OTTR, OWL, OXY, OZK, PAA, PAGP, PARA, PARR, PAYC, PBA, PDD, PEG, PFG, PGR, PH, PHM, PINS, PIPR, PKG, PLMR, PNR, PNTG, PPG, PR, PRI, PRIM, PRU, PSTG, PSX, PWP, PWR, PYPL, QCOM, QFIN, QQQ, QRVO, RAMP, RCL, RDNT, REPYY, REVG, RGA, RJF, ROAD, ROCK, RPM, RS, RSG, RSP, RUSHA, RYAAY, SA, SAIA, SANM, SCCO, SEIC, SHEL, SHW, SIGI, SKWD, SLV, SM, SMCI, SMH, SMR, SN, SNA, SNPS, SNX, SPGI, SPOT, SPXC, SPY, SQ, SQSP, SRUUF, STEP, STNG, STT, STX, SUM, SWAV, SWK, SWKS, SWN, SXC, SYK, T, TCOM, TDG, TDW, TEL, TEX, TFC, TFII, TFPM, TGLS, THC, TK, TKR, TMHC, TMO, TMUS, TNC, TNET, TNK, TNP, TOL, TPG, TPH, TRGP, TRMD, TRV, TS, TSM, TSQ, TT, TTE, TTEK, TTWO, UAN, UBS, UEC, UNM, UPS, URA, URG, URI, URNJ, URNM, USAC, USAP, VCTR, VECO, VERX, VGT, VIST, VIV, VLO, VLTO, VRT, VRTS, VST, VTRS, VZ, WAB, WAT, WDC, WDOFF, WEX, WFRD, WING, WIRE, WMG, WMS, WPM, WS, WSO, WTS, WWD, WYNN, XHB, XLB, XLC, XLE, XLI, XLK, XME, XOP, XRX, XYL, YPF, ZBH, 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 – 2024-04-03
AAUC.TO, ABX.TO, AC.TO, ACB.TO, AEM.TO, AEP.V, AGI.TO, AKT/A.TO, AMC.TO, AMX.V, AMZN.NE, AOI.TO, ARE.TO, ARG.TO, ARIS.TO, ARTG.V, ARX.TO, ASCU.TO, ASM.TO, ASTL.TO, ATX.V, AVGO.NE, AYA.TO, AYR/A.CA, BAM.TO, BBD/B.TO, BDGI.TO, BITF.TO, BMO.TO, BNE.TO, BNS.TO, BRAG.TO, BTB/UN.TO, BTE.TO, BTO.TO, CATR.NE, CCO.TO, CEE.TO, CEU.TO, CF.TO, CG.TO, CGG.TO, CHE/UN.TO, CJT.TO, CKG.V, CL.CA, CLS.TO, CNC.V, CNL.TO, CNQ.TO, CNRI.V, CP.TO, CPG.TO, CR.TO, CRM.NE, CRON.TO, CURA.TO, CVE.TO, CXB.TO, D/UN.TO, DBM.TO, DC/A.TO, DFN.TO, DML.TO, DNG.TO, DNTL.TO, DPM.TO, DV.V, EDR.TO, EDV.TO, EFR.TO, EFX.TO, EIF.TO, EIT/UN.TO, ELD.TO, ELO.TO, EMX.V, EQ.V, EQB.TO, EQX.TO, ERF.TO, ERO.TO, ESI.TO, ETHC.NE, ETL.V, EU.V, FAR.TO, FCU.TO, FEC.TO, FFH.TO, FFN.TO, FFN/PA.TO, FIL.TO, FISH.V, FM.TO, FOM.TO, FR.TO, FRU.TO, FSY.TO, FTN.TO, FTT.TO, FVI.TO, FWZ.V, G.TO, GGD.TO, GIL.TO, GLO.TO, GLXY.TO, GMIN.TO, GOLD.TO, GOLD.V, GOOG.NE, GTE.TO, HBM.TO, HITI.V, HPS/A.TO, HRX.TO, HTL.TO, HUT.TO, HWX.TO, IBM.NE, IMCC.CA, IMG.TO, IMO.TO, IPCO.TO, IPO.TO, ISO.V, JUSH.CA, K.TO, KEL.TO, KNT.TO, KRR.TO, KSI.TO, LAAC.TO, LB.TO, LIF.TO, LLY.NE, LMN.V, LSPD.TO, LUG.TO, MAG.TO, MAU.V, MCB.TO, MDA.TO, MDI.TO, MDNA.TO, MEG.TO, MFC.TO, MFI.TO, MKO.V, MMED.NE, MMP/UN.TO, MND.TO, MNS.TO, MTA.V, MTL.TO, MUX.TO, MVRS.NE, MX.TO, NA.TO, NFG.V, NFLX.NE, NG.TO, NGD.TO, NGEX.TO, NGT.TO, NNRG.NE, NOA.TO, NOVC.TO, NTR.TO, NUAG.TO, NWH/UN.TO, NXE.TO, ODV.V, OGC.TO, OGI.TO, OLA.TO, ONC.TO, OR.TO, OSK.TO, OVV.TO, PAAS.TO, PD.TO, PET.TO, PEY.TO, PHX.TO, PHYS.TO, PIC/A.TO, PLSR.V, PNG.V, POU.TO, PPL.TO, PPTA.TO, PRYM.TO, PSI.TO, PSK.TO, PSLV.TO, PTK.V, PTO/UN.TO, PYPL.NE, REG.V, RML.V, RUP.TO, RY.TO, SCR.TO, SDE.TO, SEA.TO, SES.TO, SGY.TO, SIA.TO, SII.TO, SIL.TO, SIS.TO, SJ.TO, SKE.TO, SLS.TO, SOIL.TO, SPB.TO, SSL.TO, SSRM.TO, STLC.TO, SU.TO, SVM.TO, SYZ.TO, TCW.TO, TECK/B.TO, TER.CA, TFPM.TO, TGO.TO, TIH.TO, TKO.TO, TLRY.TO, TNZ.TO, TOT.TO, TOU.TO, TOY.TO, TPZ.TO, TRUL.CA, TSND.TO, TUD.V, TUO.V, TVE.TO, TVK.TO, TXG.TO, UPS.NE, URC.TO, URE.TO, VCM.TO, VGCX.TO, VLE.TO, VRNO.NE, VZ.NE, VZLA.V, WCP.TO, WDO.TO, WEED.TO, WILD.TO, WN.TO, WPM.TO, WTE.TO, WUC.CA, X.TO, YGR.TO
