SYS Research – Daily Report – Wednesday, February 21, 2024

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

Equities Rebound Amid Fed Minutes and Nvidia Earnings Surge

In a market turnaround on Wednesday, stocks shrugged off earlier declines, navigating a day packed with pivotal events, including the release of Federal Reserve meeting minutes and Nvidia’s earnings report. Dow Jones futures exhibited minimal changes in after-hours trading, while S&P 500 futures, particularly Nasdaq futures, surged following Nvidia’s stellar earnings announcement, which surpassed expectations without surpassing predictions.

The S&P 500, initially dipping nearly 0.6%, orchestrated its most significant intraday recovery since October 6, 2023, ultimately closing 0.1% higher. The Dow Jones Industrial Average posted a gain of approximately 48 points, and the Nasdaq Composite, although starting with a 0.3% dip, rebounded ahead of Nvidia’s report. The S&P and the Dow both remained above their 21-exponential day moving averages.

S&P 500 – Daily Chart

Dow Jones Industrial Average – Daily Chart

Nasdaq – Daily Chart

The recently disclosed minutes from the Jan. 30-31 Federal Reserve meeting revealed that policymakers generally agreed that it would not be appropriate to reduce the target range for the federal funds rate until they had gained more confidence in inflation receding toward the 2% mark. The 10-year Treasury yield saw a marginal increase to 4.325%, reaching levels not seen in three months.

10-Year US Treasury Yield

U.S. crude oil prices experienced a 1.1% uptick, reaching $77.91 per barrel, setting up for a potential breakout. Meanwhile, natural gas futures, which had recently neared long-term lows in 2024, spiked by 12.5%. Our daily setups section is teeming with energy-related names; we encourage you to explore the scanner result PDFs, as numerous energy stocks are making noteworthy appearances.

Crude Oil – Weekly Chart

US Daily Setups

JPM – J.P. Morgan Chase & Co.

J.P. Morgan Chase appears to be attempting a breakout towards its 52-week high. Monitor closely for confirmation of this potential upward move.

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

 

SN – SharkNinja Inc.

SharkNinja is setting up for a potential new all-time high breakout. Keep an eye on the price action for confirmation.

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

 

VIST – Vista Oil & Gas SAB

Vista Oil & Gas continues to experience robust volume. Keep monitoring for potential developments and trends associated with this strong trading activity.

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

 

WFC – Wells Fargo & Co.

Wells Fargo appears to be breaking out to its 52-week high. Keep a close eye for potential confirmation and signs of upward momentum.

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

 

WFRD – Weatherford International Plc

Weatherford seems to be set up on the right side of a significant base. Monitor closely for any signs of potential upside momentum.

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

 

XLE – Energy Select Sector SPDR Fund

The Energy Select Sector SPDR Fund ETF is attempting to break out from the recently highlighted wedge pattern. Keep a close watch for confirmation and potential continuation of this breakout.

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

 

Canadian Daily Setups

ATH.TO – Athabasca Oil Sands Corp.

Athabasca Oil Sands is now breaking out to a 52-week high. Monitor closely for potential confirmation and further upward momentum.

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

 

CVE.TO – Cenovus Energy Inc.

Cenovus Energy is flagging below a level of horizontal resistance. Keep a close watch for any potential breakout signals in the upcoming sessions.

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

 

IMO.TO – Imperial Oil Ltd.

Imperial Oil is attempting to trend higher from its multi-month consolidation/continuation pattern. Keep a close eye for potential confirmation of this upward movement.

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

 

OVV.TO – Ovintiv Inc

Ovintiv is now breaking out from the recently highlighted wedge pattern. Monitor closely for confirmation and potential continuation of this breakout.

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

 

SU.TO – Suncor Energy, Inc.

Keep a watchful eye on Suncor Energy post-earnings report, as the price action sets up on the right side of a textbook, multi-year consolidation/continuation pattern. Monitor for potential developments in the coming sessions.

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

 

TOT.TO – Total Energy Services Inc.

Total Energy Services appears to be set up below multi-year highs, positioned on the right side of a significant base. Keep a close eye for potential signs of a breakout in the near future.

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

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 – 2024-02-21

A, AAL, AAON, ABBNY, ABNB, ABT, ACA, ACMR, ADI, ADP, AEE, AEO, AEP, AER, AGM, AGO, AIG, ALV, AM, AMAT, AMR, ANF, AOS, APH, APOG, ARE, AROC, ASND, ATI, ATO, ATR, AVAV, AVB, AVY, AWI, AWK, AZEK, AZO, BAX, BBY, BCML, BCSF, BDX, BECN, BG, BIRK, BK, BKNG, BKR, BLDR, BLK, BMY, BR, BRK/B, BRKR, BWXT, CACI, CAPL, CAT, CBT, CBZ, CCAP, CCOI, CCS, CDRE, CE, CECO, CF, CGBD, CHD, CHE, CHRD, CI, CL, CME, CMI, CMPR, CMS, CNP, COO, COP, COPX, CQP, CR, CRL, CRVL, CSGP, CSL, CSX, CTAS, CTLT, CTRA, CTSH, CVLG, CVLT, CVS, CVX, CW, CXT, D, DAL, DB, DCI, DECK, DFH, DFIN, DHR, DK, DLB, DMLP, DOW, DPZ, DRI, DTE, DTM, DUK, DV, DVN, DY, EA, EADSY, EBAY, EC, EHC, EIX, EL, ELF, EME, EMN, EMR, ENSG, EPAC, EPAM, EPD, EQIX, EQR, EQT, ES, ESAB, ESS, ET, ETN, ETR, ETRN, ETSY, EVRG, EXC, EXP, FAST, FBIN, FCNCA, FCX, FDX, FE, FIS, FNF, FOR, FSS, FTI, FTV, GBX, GD, GE, GGG, GIII, GL, GLP, GM, GNTX, GOLF, GPK, GPOR, GRBK, GRMN, GS, GVA, GWW, H, HAYN, HBAN, HCA, HD, HEES, HEI, HES, HESM, HII, HLT, HLX, HMC, HOLI, HOLX, HOV, HRI, HST, HWM, IBKR, IBN, ICE, IDR, IDT, IDXX, IEX, IHG, IHI, IMO, INCY, INSW, INVH, IQV, IR, ISRG, ITA, ITT, ITW, IVZ, JCI, JNJ, JOE, JPM, K, KDP, KEX, KEY, KHC, KKR, KLAC, KMB, KMI, KNF, KNTK, KO, KOF, KOP, KVUE, L, LAUR, LDOS, LHX, LIN, LKQ, LMT, LNG, LNW, LOW, LRCX, LUV, LVS, LYB, MA, MAMA, MAR, MBC, MBWM, MCD, MCHP, MCO, MDLZ, MEDP, MET, METC, MLM, MO, MPLX, MPTI, MPWR, MRK, MRO, MSM, MTD, MTSI, MU, MYRG, NDAQ, NEU, NGS, NHC, NI, NMM, NOC, NPO, NRG, NRP, NS, NTRS, NUE, NVT, NX, NXPI, OBDC, ODFL, OEC, OKE, OMC, ORLY, OSK, OTIS, OXY, PAA, PAGP, PARR, PATK, PAX, PBA, PCAR, PEG, PFBC, PG, PH, PKG, PLD, PNR, PNTG, POOL, POWL, PPG, PPL, PR, PRI, PRIM, PRU, PSN, PSX, PWR, PXD, QCOM, QCRH, QRVO, RACE, RDNT, REGN, REPYY, REVG, REX, RHP, RJF, RL, ROAD, ROP, RPM, RRC, RSG, RSP, RUM, RVTY, SAIA, SAIC, SBUX, SCCO, SCHW, SHEL, SHW, SJM, SM, SN, SNX, SO, SPG, SPOT, SPXC, SPY, SRE, SSBK, SSD, STE, STLA, STNG, STRL, STT, SUM, SWBI, SWK, SWN, SXC, SYY, T, TBBK, TDG, TDW, TECH, TEL, THC, TJX, TMHC, TMO, TMUS, TNET, TNK, TNP, TPG, TPR, TRAK, TREX, TRGP, TRMB, TS, TSM, TT, TXN, TXT, UAL, UDR, UGP, UHS, UNP, URBN, URI, USFD, USO, V, VECO, VIST, VITL, VLO, VMC, VNOM, VNT, VTOL, VTRS, VVV, VZ, WAB, WAT, WDOFF, WELL, WFC, WFRD, WHR, WM, WMB, WRB, WTFC, WWD, WY, XEL, XLB, XLE, XLF, XLI, XLP, XLRE, XLU, XLV, XLY, XME, XOM, XOP, YPF, YUM, ZBH, ZBRA, 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 – 2024-02-21

AAV.TO, ACO/X.TO, ALA.TO, ARG.TO, ARX.TO, ATH.TO, ATRL.TO, AX/UN.TO, BDI.TO, BEI/UN.TO, BHC.TO, BIPC.TO, BRAG.TO, BRM.V, BTE.TO, CAR/UN.TO, CAS.TO, CCA.TO, CDR.TO, CEU.TO, CHP/UN.TO, CHR.TO, CJ.TO, CLP/UN.TO, CNQ.TO, CNR.TO, CPG.TO, CPLF.TO, CRON.TO, CRR/UN.TO, CRT/UN.TO, CS.TO, CTC/A.TO, CTS.TO, CU.TO, CURA.TO, CVE.TO, CWB.TO, DFY.TO, DOO.TO, DR.TO, EDR.TO, EFX.TO, EIF.TO, EIT/UN.TO, EMA.TO, ENB.TO, ERF.TO, ERO.TO, FIH/U.TO, FM.TO, FOM.TO, FRU.TO, FTG.TO, FTS.TO, GDC.TO, GEI.TO, GLO.TO, GOOS.TO, HME.V, HPS/A.TO, HUGE.CA, IIP/UN.TO, IMO.TO, IPCO.TO, IPO.TO, JOY.TO, JPM.NE, JWEL.TO, KEY.TO, KMP/UN.TO, KNT.TO, KRR.TO, LB.TO, LNR.TO, MDNA.TO, MEG.TO, MRE.TO, MRG/UN.TO, MSFT.NE, NGEX.V, NPK.TO, NWC.TO, NXR/UN.TO, OBE.TO, OLA.TO, ONEX.TO, OVV.TO, PBH.TO, PD.TO, PEY.TO, PHX.TO, PINK.V, PKI.TO, PLC.TO, PMZ/UN.TO, PNE.TO, POU.TO, POW.TO, PPL.TO, PRMW.TO, PSK.TO, RECO.V, REI/UN.TO, SAP.TO, SDE.TO, SEA.TO, SES.TO, SGY.TO, SIA.TO, SRU/UN.TO, SSL.TO, STEP.TO, SU.TO, T.TO, TCL/A.TO, TCW.TO, TF.TO, THNC.TO, TIH.TO, TNZ.TO, TPZ.TO, TRP.TO, TUO.V, TXG.TO, VHI.TO, VLE.TO, WCP.TO, WDO.TO, WRN.TO, WTE.TO, X.TO

 

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