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: We update the sector chartists every weekend. We highly recommend that you take some time to browse and create your watchlist. 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
Wednesday’s Rally Retreats Amid Economic Concerns and Yield Declines
The Wednesday stock market rally commenced with substantial gains but took a downturn by the close. Concerns about a rapid economic slowdown led to a decline in Treasury yields and crude oil prices. Bond yields plummeted, stocks retreated, and U.S. indexes concluded Wednesday’s session on a downward trend. The rally in Treasurys gained momentum, dragging yields on 10-year notes to their lowest point since August, while stocks followed suit in turning lower.
The yield on the 10-year Treasury note fell to 4.121% after new data revealed an unexpected slowdown in U.S. private-sector hiring for November. This latest data point adds to the mounting evidence suggesting a cooling economy.
10-Year US Treasury Yield
Despite the persistent decline in the 10-year Treasury yield, the S&P 500 and Nasdaq have traded sideways in recent weeks. This could be attributed to technical resistance at 2023 highs that we’ve been charting. However, it may also signal concerns that declining Treasury yields now reflect fears of a recession rather than a moderation in inflation. Stay tuned!
S&P 500
Major indexes fluctuated between modest gains and losses before settling around their day lows. The S&P 500 experienced a 0.4% loss, the Dow Jones Industrial Average shed 70 points (0.2%), and the Nasdaq Composite fell by 0.6%.
Brent crude, the international benchmark, experienced a 3.76% loss, settling at $74.30 on Wednesday—the lowest settlement value since June 28. WTI settled at $69.38 per barrel. Examining the crude oil chart using a simple system rule, such as a green-light red-light system with a moving average, could have spared investors from significant challenges and financial losses by setting a stop-loss order.
Crude Oil
I understand that traders may be feeling frustrated with the recent fluctuations in the S&P 500 and Nasdaq. We all share the desire to see our stocks climb consistently, especially after the significant gains. However, it appears that the market is taking a breather, which can be disheartening, especially when investors buy near morning highs on days when stocks open strong but close weaker.
On a positive note, this break could be a beneficial pause for the market. Even if major indexes experience a challenging week, it provides an opportunity for strong stocks to take a breath, potentially positioning them for future success. Picture stocks engaging in a brief dance while the overall market takes a step back. While the decline in major indexes may be modest and last a week, it has the potential to strengthen the consolidation of our leading setups. Additionally, it allows other setups to gain relative strength as they develop on the right side of their basing patterns. In this context, relative strength is evident as stocks trade sideways while the indexes trade downward with the SSIH.
SSIH
Being patient is crucial for investors and active traders, whether sticking to system rules or taking a break from trading until the right opportunity comes along. Right now, concentrate on keeping your watchlists current. New stocks and sectors are popping up, and some others might lose their appeal. Stay prepared so you’ll be ready when or if the market rally gains momentum again. Now, onto the daily setups.
US Daily Setups
BKNG – Booking Holdings Inc.
Booking Holdings is consolidating at the right side of a multi-month cup base pattern, positioned below new highs. Keep a close eye for signs of a potential uptrend continuation.
LINK TO CHART – https://schrts.co/yPgZgVij
DFH – Dream Finders Homes Inc.
Dream Finders Homes appears to be breaking out from a consolidation/continuation pattern with a surge in volume. Monitor for confirmation and potential signs of sustained strength.
LINK TO CHART – https://schrts.co/qJFXhDEU
GNE – Genie Energy Ltd.
Genie Energy is consolidating in the form of a potential bull flag continuation pattern. Monitor for signs of potential upward momentum.
LINK TO CHART – https://schrts.co/WcfNsnHZ
NKE – Nike Inc.
Nike appears to be breaking out from the significant consolidation pattern previously highlighted. Monitor for confirmation and signs of sustained momentum.
LINK TO CHART – https://schrts.co/WBrUbpkQ
ORLY – O’Reilly Automotive, Inc.
O’Reilly Automotive is consolidating below new highs in the form of a bullish pennant continuation pattern. Monitor for potential breakout and signs of upward momentum.
LINK TO CHART – https://schrts.co/mfJuySWP
TMUS – T-Mobile US, Inc.
T-Mobile continues to show strength on a relative and absolute basis as price action threatens to break out from its giant ascending triangle consolidation pattern. Monitor for potential signs of sustained momentum.
LINK TO CHART – https://schrts.co/CEcgcbMm
Canadian Daily Setups
ALA.TO – AltaGas Ltd.
AltaGas appears to be set up at the right side of a significant multi-year cup base pattern. Monitor for potential breakout confirmation and signs of sustained strength.
LINK TO CHART – https://schrts.co/DGApiQdw
CJT.TO – Cargojet Inc.
Cargojet appears to be now breaking out from the significant falling channel pattern that was recently highlighted. Monitor for signs of sustained upward momentum.
LINK TO CHART – https://schrts.co/wUyygpiS
CMG.TO – Computer Modelling Group Ltd.
Computer Modelling Group continues to exhibit upside strength following the massive surge in volume. Monitor for sustained momentum and potential confirmation of a continued uptrend.
LINK TO CHART – https://schrts.co/kiAgYnEU
GTII.CA – Green Thumb Industries Inc.
Green Thumb Industries and several American marijuana stocks are forming substantial falling wedge bottoming patterns. Keep a close watch on the sector for potential continuation and signs of upward strength that could lead to a breakout from these notable patterns.
LINK TO CHART – https://schrts.co/ZjQKsKcm
TOI.V – Topicus.com Inc.
Topicus.com appears to be set up in a rounded bottom pattern, situated below a major horizontal resistance line. Keep an eye on it for a potential breakout.
LINK TO CHART – https://schrts.co/pafZUHwT
WNDR.TO – WonderFi Technologies Inc.
WonderFi Technologies is now breaking out from the recently highlighted bottom wedge pattern, accompanied by a surge in volume. Monitor for confirmation and potential signs of sustained strength.
LINK TO CHART – https://schrts.co/wBzbjFKA
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 – 2023-12-06.xlsx
A, ALL, AAON, ABBV, ABNB, ACA, AEE, AEM, AEO, AEP, AER, AFRM, AFYA, AGX, AGYS, AMCR, AME, AMT, AMWD, AOS, APH, APOG, ARE, ATO, ATR, AWI, AWK, AYI, AZO, AZUL, BA, BALL, BBWI, BBY, BEN, BITW, BKNG, BLD, BLDR, BRC, BVN, BWXT, BXP, C, CAG, CAMT, CASH, CBAY, CBRE, CCEP, CCL, CCOI, CCS, CENT, CHD, CMI, CMS, CNM, CNP, COKE, COOP, CORZQ, COST, CPB, CPS, CRL, CRVL, CRWD, CSL, CSWC, CSX, CUBI, CUK, CVS, D, DAL, DASH, DCI, DFH, DFS, DHI, DHR, DLB, DOV, DRI, DSGX, DTE, DUK, DXCM, ED, EFX, EIX, ELTK, EME, EPAM, ERJ, ESAB, ESS, ETN, ETR, EVI, EVRG, EXC, EXP, EXR, FAST, FBIN, FDX, FE, FI, FITB, FNF, FROG, FSS, FSV, FWRG, GCT, GD, GDYN, GFF, GGB, GGG, GIB, GILD, GLD, GLNCY, GM, GMS, GNE, GNRC, GPN, GPS, GRMN, GRVY, GTLB, GVA, H, HBAN, HCC, HD, HEI, HII, HLNE, HMC, HON, HOV, HQY, HSBC, IBOC, IBP, IDCC, IDT, IDXX, IHG, IIPR, INFA, ING, IP, IPG, IQV, ISRG, IT, ITRI, ITT, ITW, JCI, JKHY, JNPR, K, KBH, KDP, KEYS, KHC, KMI, KNF, KOF, KRT, LAUR, LEN, LEU, LHX, LII, LLY, LMT, LNT, LQDT, LSEA, LULU, LUV, MA, MAR, MARA, MAS, MBC, MBWM, MCHP, MDLZ, MEDP, MHK, MHO, MKC, MKTX, MPWR, MTCH, MTH, NBIX, NCLH, NDSN, NEE, NEU, NGVC, NHC, NI, NKE, NOC, NSS, NSSC, NTB, NVT, NWSA, NXPI, OC, OEC, OMC, OR, ORLY, OSG, OSIS, OSK, PATK, PAYX, PCAR, PCG, PEG, PHM, PLD, PNC, PNR, PNW, POOL, PPL, PRDO, PSA, PWR, QRVO, QSR, RAMP, RBA, RCL, RDNT, REGN, RMD, ROL, ROST, RPM, RUSHA, RWAY, RYAAY, SBAC, SFM, SHW, SJM, SMLR, SNA, SNAP, SO, SPG, SQ, SRE, SSD, STLA, STN, STNE, SUM, SWBI, SWK, SWKS, SYF, TDY, TGS, TJX, TM, TMHC, TMUS, TOL, TPH, TRAK, TREX, TRIN, TSCO, TSM, TSN, TSQ, TT, UGP, ULTA, UNP, UPBD, URBN, URI, VFC, VIV, VRRM, VZ, WAT, WDC, WEC, WINA, WING, WIRE, WM, WOR, WRK, WSO, XEL, XHB, XPEV, 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.
EXPORT – Canadian Scanner Results – 2023-12-06.xlsx
AAPL.NE, AC.TO, ACD.TO, ACO/X.TO, AD/UN.TO, ADW/A.TO, AEM.TO, AGF/B.TO, AI.TO, AIM.TO, ALA.TO, APR/UN.TO, ARE.TO, ARIS.TO, ATD.TO, ATD/A.TO, ATS.TO, ATZ.TO, AYR/A.CA, BAM.TO, BAM/A.TO, BB.TO, BCE.TO, BDGI.TO, BDT.TO, BEI/UN.TO, BEP/UN.TO, BEPC.TO, BIP/UN.TO, BITF.TO, BK.TO, BK/PA.TO, BLX.TO, BMO.TO, BN.TO, BOFA.NE, BOS.TO, BRAG.TO, BTO.TO, BYD.TO, CAR/UN.TO, CAS.TO, CCA.TO, CCL/B.TO, CGO.TO, CHP/UN.TO, CIA.TO, CIG.TO, CIGI.TO, CITI.NE, CIX.TO, CJT.TO, CM.TO, CMG.TO, CMI.V, CNR.TO, COST.NE, CRR/UN.TO, CRT/UN.TO, CS.TO, CSH/UN.TO, CSW/A.TO, CTC/A.TO, CU.TO, CUR.V, CURA.CA, CVS.NE, CWB.TO, DF.TO, DFN.TO, DIV.TO, DNTL.TO, DOL.TO, DSG.TO, DTOL.TO, ECN.TO, EDV.TO, EIF.TO, EIT/UN.TO, ELO.TO, EQB.TO, EQX.TO, ERE/UN.TO, ETHH.TO, EU.V, EXE.TO, FAP.TO, FC.TO, FCR/UN.TO, FN.TO, FSV.TO, FTS.TO, GFL.TO, GGD.TO, GIB/A.TO, GIP.V, GOLD.TO, GOLD.V, GOOS.TO, GRT/UN.TO, GSY.TO, GTII.CA, GWO.TO, H.TO, HBM.TO, HITI.V, HIVE.V, HR/UN.TO, IAG.TO, IFC.TO, IGM.TO, IIP/UN.TO, JWEL.TO, K.TO, KEY.TO, KMP/UN.TO, KNT.TO, KRR.TO, L.TO, LAAC.TO, LB.TO, LBS.TO, LCFS.TO, LCS.TO, LFE.TO, LUG.TO, MA.NE, MCB.TO, MFC.TO, MFI.TO, MG.TO, MI/UN.TO, MID/UN.TO, MMED.NE, MOGO.TO, MRG/UN.TO, MTY.TO, NA.TO, NANO.TO, NBLY.TO, NFI.TO, NGD.TO, NKE.NE, NPI.TO, NTMC.CA, NVEI.TO, NWC.TO, OGI.TO, OR.TO, ORA.TO, OSK.TO, PBH.TO, PET.TO, PIC/A.TO, PLC.TO, PLTH.CA, POW.TO, PRL.TO, PRV/UN.TO, PSI.TO, PYPL.NE, QBR/B.TO, QSR.TO, QTIP.NE, QTRH.TO, RBA.TO, RCG.TO, RCI/B.TO, REAL.TO, RSI.TO, RUP.TO, RUS.TO, RY.TO, SBC.TO, SIA.TO, SII.TO, SJ.TO, SLF.TO, SOIL.TO, SRU/UN.TO, STN.TO, SVI.TO, SXP.TO, T.TO, TA.TO, TD.TO, TIH.TO, TOI.V, TOY.TO, TRI.TO, TRP.TO, TRUL.CA, TRZ.TO, TSU.TO, VMD.TO, VRNO.NE, WED.V, WFG.TO, WN.TO, WPK.TO, WSP.TO, X.TO, ZTL.NE, ZZZ.TO
