SYS Research – Daily Report – Wednesday, March 27, 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: 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.

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SYS Daily Report

Stocks Surge, S&P 500 Hits Record High Amid Treasury Yield Retreat

Major stock indexes rallied on Wednesday, breaking a recent losing streak as the S&P 500 clinched a record high.

After its recent ascent, the benchmark 10-year Treasury yield retreated to 4.196% from 4.233% the previous day, contributing to the upward momentum in stocks.

10-Year US Treasury Yield

The Dow Jones Industrial Average soared by 478 points, marking its most significant percentage gain of the year at 1.2%. Meanwhile, the S&P 500 ascended by 0.9%, reaching a historic closing high. The Nasdaq Composite also saw gains, rising by 0.5% and ending a two-day losing streak. As per system rules, all three indices remain positioned above their 21-exponential day moving average.

Dow Jones Industrial Average – Daily Chart

S&P 500 – Daily Chart

Nasdaq – Daily Chart

In the daily performance race, small caps emerged victorious. The Russell 2000 surged by 2.1%, outpacing the S&P 500’s rise by more than double and quadrupling the Nasdaq Composite’s gain.

Russell 2000 (ETF) – Daily Chart

Today’s market spotlight shone brightly on gold miner stocks, propelled by the nearing of a new all-time high in gold prices. Additionally, the US cannabis sector surged toward the market close, propelling the MSOS ETF above the $10 mark. Both sectors are featured in the daily setups section of the report.

Gold – Weekly Chart

MSOS – AdvisorShares Pure US Cannabis ETF

As we delve into the daily setups, it’s crucial to heed the wisdom of William O’Neil, who once remarked, ‘Without a rule, there is no game plan. Without a game plan, there is no discipline.’ This underscores the necessity of having a clear strategy as we navigate today’s market landscape. Now, let’s analyze the potential opportunities and setups for the day ahead.

US Daily Setups

GDX – VanEck Vectors Gold Miners ETF

Today’s scanner results prominently feature gold miners, nearly reaching a saturation point as it appears money is flowing into the sector. It’s essential to closely monitor the VanEck Vectors Gold Miners ETF, as its price action suggests a potential breakout from a significant multi-year consolidation pattern. See the Canadian daily setups for more gold miner setups that are dually listed in Canada and the US.

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

 

GDXJ – VanEck Vectors Junior Gold Miners ETF

The VanEck Vectors Junior Gold Miners ETF’s pattern closely mirrors that of GDX. As indicated by scanner results, monitoring for a potential breakout is crucial. This suggests that money is rotating into the sector, especially as the price of gold nears a new all-time high.

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

 

MSOS – AdvisorShares Pure US Cannabis ETF

The AdvisorShares Pure US Cannabis ETF saw another day of upward strength as its price action surged above the $10 mark. Monitoring for further upside momentum is essential, as the price action could finally break out from its bottoming pattern. Additionally, pay attention to the robust volume profile, which heightens the probability of the setup.

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

 

NCLH – Norwegian Cruise Line Holdings Ltd.

Norwegian Cruise Line appears to be preparing for a potential breakout from its multi-month consolidation pattern, which is characterized by volatility.

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

 

PSN – Parsons Corp.

Parsons continues to experience robust volume as its price action approaches the apex of a continuation pattern. Monitor closely for any signs indicating a potential continuation of the uptrend.

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

 

WS – Worthington Steel Inc.

Worthington Steel has been flagging following the recent IPO base breakout. Look for any signs of sustained upside strength.

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

 

XHB – SPDR S&P Homebuilders ETF

The homebuilders sector is also prominently featured on today’s scanner. Keep a close eye on the SPDR S&P Homebuilders ETF as it consolidates below its recent highs, potentially forming a flag pattern.

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

 

XLV – Health Care Select Sector SPDR Fund

The Health Care Select Sector SPDR Fund is now breaking out from the continuation pattern highlighted in last night’s daily setups.

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

 

Canadian Daily Setups

ABX.TO – Barrick Gold Corp.

Barrick Gold has been consistently appearing on the scanner results throughout the week as its price action sets up near the apex of a significant falling wedge consolidation pattern. Monitor closely for the continuation of upside strength, which may potentially lead to a breakout.

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

 

BDT.TO – Bird Construction Inc.

Bird Construction is currently forming a flag pattern below its recent highs.

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

 

BOS.TO – AirBoss of America Corp.

AirBoss of America persists in its attempts to break out of its bottoming pattern.

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

 

CF.TO – Canaccord Financial Inc.

Canaccord Financial remains poised for a potential breakout from its significant multi-year consolidation/continuation pattern.

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

 

CURA.TO – Curaleaf Holdings, Inc.

Curaleaf continues to prepare for a potential breakout, especially as MSOS saw a robust day with upside price action.

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

 

DPM.TO – Dundee Precious Metals, Inc.

Dundee Precious Metals is forming below recent highs, potentially setting up for a breakout from a multi-year consolidation pattern.

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

 

GTII.CA – Green Thumb Industries Inc.

Green Thumb Industries, another US cannabis name, is currently attempting to break out, likely influenced by the recent price action in the broader cannabis sector.

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

 

KRR.TO – Karora Resources Inc.

Karora Resources appears on scanner results as its price action sets up below a significant horizontal resistance or trigger line. Keep a close eye on any potential breakout signals.

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

 

KXS.TO – Kinaxis Inc.

Kinaxis is showing up on scanner results as its price action approaches the apex of a significant multi-year consolidation pattern. Keep an eye out for any signs of upside momentum.

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

 

OR.TO – Osisko Gold Royalties Ltd.

Osisko Gold Royalties is currently forming a flag pattern below its recent highs. Monitor closely for the potential continuation of the uptrend.

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

 

TOU.TO – Tourmaline Oil Corp.

Tourmaline Oil appeared on the scanner results today as its price action sets up for a potential breakout above a horizontal resistance line near the right side of a significant multi-year consolidation pattern.

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

 

TSND.TO – TerrAscend Corp.

The TerrAscend setup is now breaking out above the horizontal resistance line we’ve been monitoring. This move was driven by momentum, likely influenced by activity in the MSOS ETF. The stock yielded an impressive near 11% gain for the day.

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

 

WPM.TO – Wheaton Precious Metals Corp.

Wheaton Precious Metals continues to position itself below the upper trendline of a significant multi-year consolidation pattern. As the old saying goes, “the bigger the base, the higher into space.” Monitor closely for signs of upside momentum that could potentially lead to a breakout.

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

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 – 2024-03-27

A, AAL, ABBNY, ABBV, ABT, ACA, ACGL, ACIW, ADI, ADP, AEE, AEM, AEO, AEP, AES, AFL, AGI, AGM, AGYS, AIG, AIT, AIZ, AJG, AKAM, ALB, ALG, ALGN, ALLE, ALPN, ALSN, ALTR, ALV, AM, AMAL, AMCR, AME, AMGN, AMP, AMR, AMT, AON, AOS, APA, APAM, APD, APG, APH, ARCB, ARE, ARIS, ASTH, ATI, ATKR, ATO, ATR, AU, AVB, AVDX, AVY, AWI, AWK, AX, AXP, AZZ, BAC, BAH, BALL, BAX, BBVA, BBW, BBWI, BBY, BCO, BCSF, BDX, BEN, BF/B, BFST, BG, BIO, BIRK, BK, BKR, BLBD, BLD, BLDR, BLK, BMA, BPOP, BR, BRC, BRK/B, BRKR, BRO, BSX, BUR, BURL, BWA, BWMX, BWXT, BX, BXP, BYRN, C, CACI, CAG, CAH, CAL, CASH, CAT, CB, CBRE, CBT, CCI, CCJ, CCL, CCS, CDLX, CDW, CE, CECO, CENT, CENTA, CF, CFB, CFG, CGBD, CHCO, CHD, CHRD, CI, CINF, CIVI, CL, CLF, CLH, CLX, CM, CMA, CMCSA, CME, CMI, CMS, CNA, CNC, CNO, CNP, CNX, CNXN, COF, COLL, COO, COOP, COP, COPX, COR, CPA, CPB, CPG, CPT, CR, CRL, CROX, CRS, CRVL, CSTM, CSWC, CSWI, CTAS, CTLT, CTRA, CTSH, CTVA, CUBI, CUK, CVLT, CVX, CW, CWCO, CXT, D, DAC, DAL, DB, DCI, DD, DDS, DE, DFS, DG, DHI, DHT, DIS, DKS, DLB, DLR, DLTR, DMLP, DOC, DOCU, DORM, DOV, DOW, DPZ, DTE, DTM, DUK, DVA, DVN, DXPE, DY, E, EADSY, EAT, EBAY, ECL, ED, EG, EGO, EGY, EHC, EIX, EMN, EMR, ENPH, ENSG, ENVA, EOG, EQIX, EQR, ES, ESAB, ESOA, ESS, ET, ETN, ETR, ETRN, EVR, EVRG, EW, EWBC, EXC, EXPD, EXPE, EXR, F, FANG, FBIN, FBP, FCFS, FCN, FCNCA, FCX, FE, FFIV, FI, FIHL, FIS, FITB, FLR, FLS, FMC, FNF, FOR, FOX, FRO, FRPT, FRT, FSLR, FSS, FSV, FTV, FWRG, GBDC, GBX, GD, GDX, GDXJ, GE, GEHC, GEN, GEOS, GFI, GFL, GGG, GIII, GIS, GL, GLD, GLRE, GLW, GM, GNRC, GNTX, GOLF, GPC, GPI, GPK, GPOR, GRBK, GRC, GRMN, GRVY, GS, GSK, GTES, GVA, GWW, H, HAL, HAS, HAYW, HBAN, HCA, HD, HEAR, HEES, HEI, HES, HESM, HIBB, HIG, HLT, HLX, HMC, HMY, HNI, HOLX, HON, HOV, HRB, HRI, HRL, HSIC, HST, HSY, HTGC, HWKN, HWM, IAG, IBCP, IBKR, IBM, IBOC, IDCC, IDXX, IEX, IFF, IGIC, IHI, IIPR, ILMN, IMCR, IMO, INDV, ING, INSW, INTC, INTU, INVH, IP, IPAR, IPG, IQV, IR, IRM, IT, ITA, ITB, ITCI, ITGR, ITRI, ITW, IVZ, IWM, J, JBL, JCI, JHX, JKHY, JNJ, JNPR, JPM, K, KAI, KBH, KDP, KEY, KEYS, KGC, KIM, KLAC, KMI, KMX, KNSL, KNTK, KO, KR, KRE, KRT, KTOS, KVUE, KWR, L, LAD, LAUR, LDOS, LECO, LEN, LH, LHX, LII, LKQ, LMAT, LMT, LNC, LNT, LOB, LOW, LPG, LPLA, LPX, LRN, LSEA, LUV, LVS, LW, LWAY, LYB, LYV, LZ, LZB, MAA, MAIN, MARA, MAS, MBIN, MBWM, MCHP, MCK, MCY, MDT, MET, MFC, MHK, MHO, MITK, MLI, MMC, MMM, MMYT, MO, MOG/A, MORN, MPLX, MRNA, MRO, MS, MSCI, MSI, MSM, MSOS, MTB, MTD, MTH, MTRN, MYRG, NBN, NCLH, NDAQ, NDSN, NEE, NEM, NEU, NGS, NHC, NI, NMIH, NOC, NOG, NPO, NR, NRG, NSIT, NSSC, NTB, NTRA, NTRS, NUE, NVEI, NVT, NWSA, NX, NXE, NXPI, NXT, NYT, O, OC, ODP, OFG, OIH, OKE, OLED, OMC, OMI, ONON, OPRA, OR, OSCR, OSG, OSIS, OSK, OTIS, OTTR, OXY, OZK, PAA, PAGP, PATK, PAX, PAYC, PAYX, PBA, PCAR, PEG, PFBC, PFE, PFG, PFGC, PG, PGR, PH, PHM, PIPR, PKG, PLAB, PM, PNC, PNR, PNTG, PNW, PODD, POOL, POST, POWW, PPC, PPG, PPL, PR, PRCT, PRI, PRIM, PRU, PSA, PSN, PSX, PWP, PXD, QCRH, QRVO, QSR, RBA, RBC, RBLX, RCL, REPYY, REVG, RF, RGA, RHP, RJF, RL, RMBS, RMD, ROAD, ROCK, ROK, ROL, ROP, ROST, RPAY, RPM, RRC, RS, RSG, RSP, RTX, RUSHA, RVTY, RYAN, SA, SAH, SANM, SBAC, SCCO, SCHW, SEIC, SHEL, SHW, SIGI, SJM, SKT, SKWD, SKX, SLB, SLV, SLX, SM, SMR, SN, SNA, SNX, SO, SPB, SPG, SPSC, SPY, SQSP, SRE, SSD, STEP, STLA, STLD, STNG, STT, STZ, SUM, SWBI, SWK, SWKS, SWN, SXC, SYF, SYK, SYY, T, TAP, TBBB, TDG, TDW, TDY, TEL, TER, TEX, TFC, TFPM, TFX, TGT, TJX, TKR, TMHC, TMO, TNC, TNK, TOL, TPH, TPR, TREX, TRGP, TRI, TRIN, TRMD, TRNS, TROW, TRV, TS, TSCO, TSN, TSQ, TTE, TTEK, TXN, TXRH, UAL, UBS, UDR, UFPT, UHS, UNM, URA, URI, URNJ, URNM, USAP, USB, USFD, USO, VCTR, VECO, VERX, VFC, VICI, VIST, VLTO, VNOM, VNT, VRRM, VRTS, VSEC, VVV, VZ, WAB, WABC, WAL, WAT, WBA, WBS, WCN, WDOFF, WEC, WELL, WES, WEST, WFC, WIRE, WM, WMB, WMG, WMS, WOR, WPM, WRB, WS, WSM, WSO, WST, WTFC, WTS, WTW, WWD, WY, WYNN, XEL, XHB, XLB, XLC, XLE, XLF, XLI, XLP, XLRE, XLU, XLV, XLY, XME, XOM, XOP, XRAY, XRX, XYL, YPF, YUM, ZBH, ZBRA, 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 – 2024-03-27

AAUC.TO, AAWH/U.CA, ABX.TO, AC.TO, ACB.TO, ACQ.TO, ACT.CA, ADEN.TO, AEM.TO, AGF/B.TO, AGI.TO, AI.TO, ALA.TO, ALYA.TO, AMC.TO, AMX.V, AMZN.NE, AP/UN.TO, AQN.TO, ARE.TO, ARIS.TO, ARR.TO, ARTG.V, ARX.TO, ASE.CA, ATRL.TO, ATZ.TO, AX/UN.TO, AYA.TO, AYR/A.CA, BAM.TO, BAM/A.TO, BBU/UN.TO, BCE.TO, BDGI.TO, BDI.TO, BDT.TO, BHC.TO, BIP/UN.TO, BIPC.TO, BIR.TO, BLX.TO, BMO.TO, BN.TO, BNS.TO, BOS.TO, BPF/UN.TO, BRAG.TO, BRK.NE, BTE.TO, BYD.TO, CAE.TO, CATR.NE, CCA.TO, CCO.TO, CF.TO, CFP.TO, CGO.TO, CHE/UN.TO, CHP/UN.TO, CIA.TO, CIG.TO, CIGI.TO, CITI.NE, CIX.TO, CJ.TO, CJT.TO, CL.CA, CLP/UN.TO, CM.TO, CMG.TO, CNL.TO, CNQ.TO, CNR.TO, CP.TO, CPG.TO, CPX.TO, CR.TO, CRON.TO, CRR/UN.TO, CRT/UN.TO, CS.TO, CSH/UN.TO, CTC/A.TO, CURA.TO, CWB.TO, CXB.TO, DBM.TO, DF.TO, DFN.TO, DGS.TO, DHT/UN.TO, DIR/UN.TO, DIS.NE, DND.TO, DNG.TO, DOL.TO, DOO.TO, DPM.TO, DRX.TO, EDV.TO, EFN.TO, EIF.TO, EIT/UN.TO, ELD.TO, ELO.TO, EMP/A.TO, ENB.TO, EQ.V, EQB.TO, EQX.TO, ERF.TO, ERO.TO, ESI.TO, ETG.TO, EXE.TO, FAR.TO, FCR/UN.TO, FFN.TO, FIL.TO, FM.TO, FNV.TO, FOM.TO, FR.TO, FRU.TO, FSV.TO, FSZ.TO, FTN.TO, FTT.TO, FVI.TO, FWZ.V, GEI.TO, GFL.TO, GRA.TO, GRT/UN.TO, GS.NE, GTII.CA, GUD.TO, GWO.TO, HBM.TO, HITI.V, HOM/UN.TO, HPS/A.TO, HR/UN.TO, HWX.TO, IFOS.V, IGM.TO, ILLM.TO, IMG.TO, IMO.TO, INE.TO, INTC.NE, IPCO.TO, IPO.TO, IVN.TO, JNJ.NE, JUSH.CA, K.TO, KBL.TO, KEL.TO, KEY.TO, KRR.TO, KXS.TO, LAAC.TO, LB.TO, LGC.V, LLY.NE, LMN.V, LNR.TO, LUG.TO, MAG.TO, MATR.TO, MAU.V, MDI.TO, MEEC.V, MEG.TO, MFC.TO, MPCT/UN.TO, MTL.TO, MUX.TO, MX.TO, NA.TO, NEO.TO, NFG.V, NFI.TO, NG.TO, NGD.TO, NGEX.TO, NTR.TO, NUAG.TO, NVA.TO, NVEI.TO, NWC.TO, NXE.TO, NXR/UN.TO, OBE.TO, OGC.TO, OIII.V, OLA.TO, OR.TO, OSK.TO, PAAS.TO, PBH.TO, PD.TO, PEY.TO, PFE.NE, PHX.TO, PHYS.TO, PLSR.V, PLZ/UN.TO, PMZ/UN.TO, PNG.V, POU.TO, PPL.TO, PRL.TO, PRU.TO, PSI.TO, PSK.TO, PSLV.TO, PTK.V, RCK.V, REI/UN.TO, RPI/UN.TO, RUP.TO, RUS.TO, RY.TO, SAP.TO, SDE.TO, SGD.V, SGR/UN.TO, SGY.TO, SHLE.TO, SIA.TO, SIL.TO, SKE.TO, SLS.TO, SOY.TO, SPB.TO, SRU/UN.TO, SSL.TO, STEP.TO, STLC.TO, SVI.TO, SVM.TO, SXP.TO, TCW.TO, TD.TO, TECK/B.TO, TFPM.TO, TIH.TO, TKO.TO, TLRY.TO, TNT/UN.TO, TNZ.TO, TOI.V, TOT.TO, TOU.TO, TOY.TO, TPZ.TO, TRUL.CA, TSND.TO, TVE.TO, TVK.TO, TXG.TO, VET.TO, VGCX.TO, VLE.TO, VNP.TO, VRNO.NE, VZ.NE, WCN.TO, WCP.TO, WDO.TO, WEED.TO, WIFI.CA, WJX.TO, WPM.TO, WSP.TO, X.TO

 

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