SYS Research – Daily Report – Wednesday, March 6, 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

Equities Move Higher Amid Powell’s Testimony

On Wednesday, stocks experienced an upward trajectory when I wrote this, as investors closely observed Federal Reserve Chairman Jerome Powell’s semiannual testimony before Congress. Powell underscored in his prepared remarks that the central bank would require evidence of sustainable price stability before considering rate cuts.

The Nasdaq surged by over 1% at its high in Wednesday’s trading session, demonstrating robust market activity. Simultaneously, the Dow registered a 0.16% increase when writing this, and the S&P 500 saw a gain of 0.46%. The small-cap Russell 2000 also climbed 0.8%, contributing to the overall positive market sentiment.

Nasdaq – Daily Chart

Dow Jones Industrial Average – Daily Chart

S&P 500 – Daily Chart

Russell 2000 ETF – Daily Chart

Bitcoin staged a significant rebound in the cryptocurrency realm, nearing its record highs.

Bitcoin – Daily Chart

Taking a cue from Benjamin Graham, who wisely observed that ‘In the short run, the market is a voting machine, but in the long run, it is a weighing machine.’ Let’s now delve into the daily setups.

US Daily Setups

ABNB – Airbnb Inc.

Airbnb is making another 52-week high following its base breakout. Monitor its current performance for confirmation and potential continuation of this upward trend.

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

 

COPX – Global X Copper Miners ETF

The Global X Copper Miners ETF is popping higher from its wedge pattern, indicating potential upward momentum. Monitor its performance closely for confirmation and any signs of sustained strength in the breakout.

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

 

IBM – International Business Machines

IBM is making another new high, indicating continued strength following its breakout of the continuation pattern. Monitor its current performance for confirmation and potential continuation of this upward trend.

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

 

MSI – Motorola Solutions Inc.

Motorola Solutions is breaking out from a multi-month basing pattern. Keep a close eye on its performance for confirmation and potential continuation of this breakout.

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

 

PLTR – Palantir Technologies, Inc.

Palantir Technologies is breaking out from a continuation pattern with a surge in volume, suggesting potential strength in its upward movement. Keep monitoring for confirmation and any signs of sustained momentum.

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

 

XLE – Energy Select Sector SPDR Fund

The Energy Select Sector SPDR Fund attempts to trend above its breakout line, indicating potential strength in its upward movement. Monitor closely for confirmation and any signs of sustained momentum.

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

 

Canadian Daily Setups

AEM.TO – Agnico-Eagle Mines Ltd.

Agnico-Eagle Mines continues to position itself below a breakout line of a significant multi-year consolidation pattern. Watch for any potential signals or indications of an impending breakout.

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

 

AFN.TO – Ag Growth International Inc.

Ag Growth is now breaking out from the recently highlighted consolidation triangle, suggesting potential strength in its upward movement. Keep an eye on its performance for confirmation and further developments in this breakout.

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

 

ENB.TO – Enbridge, Inc.

Enbridge appears to be setting up below a trigger line located on the right side of a significant multi-year consolidation pattern. Monitor closely for potential breakout signals and any signs of sustained upward momentum.

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

 

IVN.TO – Ivanhoe Mines Ltd.

Ivanhoe Mines continues consolidating in a pennant pattern while the copper sector shows strength today. Given the positive momentum in the copper sector, keep an eye on this consolidation for potential breakout signals.

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

 

PD.TO – Precision Drilling Corp.

Precision Drilling continues to set up below the trigger line of a bottoming triangle. Monitor closely for potential breakout signals and any indications of sustained upward momentum.

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

 

WDO.TO – Wesdome Gold Mines Ltd.

Wesdome Gold Mines continues to break out from its bullish pennant continuation pattern. Monitor its performance closely for confirmation and potential further upside movement.

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

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 – 2024-03-06

A, AAL, ABBNY, ABBV, ABNB, ABT, ACA, ACGL, ACIW, ACM, ACN, ADI, AEL, AEM, AFL, AGI, AGO, AIG, AIR, AIT, AIZ, AJG, ALLE, ALPN, ALSN, ALV, AMAT, AMD, AME, AMK, AMR, AMWD, ANET, ANSS, AON, AOS, APG, APH, APP, ARCH, ARCO, ARKK, ARLO, AROC, ASML, ASR, ATEYY, ATKR, ATO, ATR, AVAV, AWI, AXON, AXP, AYI, AZEK, AZO, BAESY, BAH, BALL, BAM, BAND, BAX, BBVA, BBY, BECN, BIO, BITO, BITQ, BITW, BKR, BLBD, BLD, BLDR, BLK, BLOK, BMY, BR, BRK/B, BRKR, BRO, BTU, BWXT, BYRN, C, CAMT, CARG, CARR, CASY, CAT, CAVA, CCAP, CCCS, CCJ, CDNS, CDW, CEG, CEIX, CELH, CF, CFLT, CGBD, CHD, CI, CIEN, CL, CLS, CLSK, CLX, CM, CMI, CMS, CNA, CNM, CNP, COIN, COLL, COP, COPX, COR, COST, CPLP, CPRT, CPT, CQP, CR, CRESY, CRL, CSGP, CSL, CSTM, CSX, CTAS, CTVA, CVLT, CVNA, CVS, CVX, CW, CXT, D, DAL, DCI, DD, DECK, DGX, DHR, DLO, DMLP, DNN, DOCN, DOV, DRI, DSGX, DTE, DUK, DXCM, DY, EADSY, EAT, EBAY, ED, EFX, EGO, EHC, EIX, ELF, ELTK, ELV, EME, EMR, ENTG, EPAM, EPD, EQIX, ESOA, ET, ETHE, ETN, ETRN, EW, EXPD, FAST, FCFS, FCX, FDIG, FDX, FE, FFIV, FI, FICO, FIS, FIVE, FIX, FLEX, FLS, FLT, FLUT, FMC, FNF, FOUR, FROG, FSS, FTNT, FTV, FWRG, GBDC, GBTC, GD, GDX, GDXJ, GE, GEHC, GEL, GFF, GFL, GGG, GIB, GIS, GL, GLD, GLP, GLRE, GLW, GMS, GRC, GRMN, GSK, GVA, GWRE, H, HAS, HCA, HCC, HCI, HD, HEI, HESM, HIG, HII, HLT, HMY, HNI, HOLI, HOLX, HON, HOOD, HPE, HPQ, HSBC, HSIC, HTGC, HUBB, HUBS, HWM, IBKR, IBM, IBP, ICE, IDCC, IDXX, IEX, IHG, IHI, IMO, INTC, INTU, IOT, IQV, IR, IRM, ISRG, IT, ITA, ITGR, ITRI, ITT, ITW, IWF, JBI, JBL, JCI, JKHY, JNJ, JPM, KBH, KEYS, KGC, KHC, KLAC, KMB, KMI, KNSL, KR, KTOS, L, LBRT, LDOS, LEN, LH, LHX, LII, LIN, LINC, LMND, LNW, LOGI, LOW, LRCX, LSEA, LUV, LZB, MA, MAA, MAIN, MANH, MAR, MBC, MCD, MCHP, MCK, MCO, MDT, MEDP, META, METC, METV, MGRC, MHO, MLM, MMC, MMYT, MNDY, MNST, MO, MOH, MORN, MPLX, MPWR, MRNA, MRO, MSFT, MSI, MSTR, MTD, MTDR, MTSI, MU, MUFG, MYRG, NCLH, NDAQ, NDSN, NFLX, NGS, NI, NLR, NOC, NPO, NRG, NS, NSC, NTAP, NTNX, NTRA, NU, NVDA, NVS, NVT, NWS, NX, NXE, NXPI, NXT, OBDC, ODFL, OIH, OMC, ON, ONTO, ORCL, ORLY, OSK, OTIS, OXY, PAA, PAGP, PAM, PAX, PBA, PBR, PBR/A, PCAR, PCOR, PEG, PEGA, PFE, PGR, PH, PLD, PLNT, PLTR, PLUS, PM, PNR, PODD, POWW, PPL, PRDO, PRI, PRIM, PSN, PSTG, PSX, PTC, PUBM, PWR, PXD, QCOM, QQQ, QRVO, QSR, RACE, RDNT, REGN, REPYY, RGA, RL, RMBS, RMD, ROAD, ROK, ROL, ROP, RSG, RSP, RTX, RYAAY, RYAN, SAH, SAIA, SAP, SFM, SHAK, SHW, SIGI, SKWD, SLV, SMH, SNA, SNPS, SNX, SPB, SPG, SPOT, SPY, SQ, SRE, SSNC, STE, STER, STLA, STLD, STN, STNG, STRL, SUBCY, SUM, SUN, SWK, SWKS, SXC, SYF, SYK, TDY, TECH, TEL, TER, TEX, TFX, THC, TM, TMO, TMUS, TOL, TPX, TRGP, TRI, TRIN, TRIP, TRMB, TRV, TS, TSCO, TSM, TT, TTE, TTEK, TXN, TXRH, TXT, UAL, UBER, UGP, UHS, UNP, UPS, URA, URNJ, URNM, USAC, USFD, USO, V, VECO, VGT, VIST, VLTO, VMC, VRNS, VRT, VRTS, VST, W, WAB, WAT, WCN, WDC, WDOFF, WEC, WES, WEX, WFC, WFRD, WGMI, WING, WIX, WM, WMS, WMT, WRB, WSM, WSO, WTW, WWD, WY, XHB, XLB, XLE, XLF, XLI, XLK, XLP, XLU, XLV, XME, XOM, XP, XYL, YPF, YUM, Z, ZBH, ZG

 

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 – 2024-03-06

AAV.TO, ABX.TO, ACT.CA, AEM.TO, AFN.TO, AGI.TO, AKG.TO, AKT/A.TO, ALS.TO, AMD.NE, AMRQ.V, AMX.V, AND.TO, AQN.TO, ARE.TO, ARG.TO, ATH.TO, ATRL.TO, ATX.V, AYA.TO, BBD/B.TO, BDT.TO, BEI/UN.TO, BEP/UN.TO, BK.TO, BNE.TO, BRK.NE, CAR/UN.TO, CCL/B.TO, CCO.TO, CEU.TO, CFP.TO, CIA.TO, CJP.NE, CLS.TO, CM.TO, CNC.V, COST.NE, CP.TO, CPX.TO, CS.TO, CTS.TO, CXB.TO, DFN.TO, DGS.TO, DIV.TO, DML.TO, DOL.TO, DRX.TO, DSG.TO, DTOL.TO, EDR.TO, EDV.TO, EFX.TO, EIT/UN.TO, ELD.TO, ENB.TO, ERO.TO, ESI.TO, ETHC.NE, FAR.TO, FDR.V, FFH.TO, FFN.TO, FIL.TO, FISH.V, FOM.TO, FR.TO, FRU.TO, FSZ.TO, GAU.TO, GIB/A.TO, GOLD.TO, GOLD.V, GPAC.V, GUD.TO, H.TO, HBM.TO, HLF.TO, HWX.TO, IBM.NE, IIP/UN.TO, IMG.TO, IMO.TO, INTC.NE, IPCO.TO, IPO.TO, IVN.TO, K.TO, KEI.TO, KNT.TO, KRR.TO, L.TO, LAAC.TO, LB.TO, LCS.TO, LUN.TO, MAG.TO, MDA.TO, MDNA.TO, MI/UN.TO, MRU.TO, MSFT.NE, MTA.V, MTL.TO, MVRS.NE, NGD.TO, NGEN.V, NGEX.TO, NVDA.NE, NXE.TO, OLA.TO, OR.TO, PAAS.TO, PD.TO, PFE.NE, PLSR.V, POW.TO, PPL.TO, PRU.TO, PRYM.TO, PSK.TO, PSLV.TO, QSR.TO, QTRH.TO, SDE.TO, SEA.TO, SIL.TO, SKE.TO, SOIL.TO, SPB.TO, SPPP.TO, STN.TO, SVM.TO, TD.TO, TECK/B.TO, TFII.TO, TFPM.TO, THNC.TO, TKO.TO, TRUL.CA, TVE.TO, TXG.TO, VGCX.TO, VLE.TO, WDO.TO, WELL.TO, WIFI.CA, XOM.NE, XRX.CA, XTG.TO

 

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