Notice: The Daily Report is provided for informational and educational purposes only and is not intended to be used as a stock-picking service or as financial advice. The charts and accompanying research are designed to support your analysis, serving as indicators rather than direct recommendations to buy or sell any security. The creator assumes no responsibility for actions taken by readers and strongly encourages individuals to fully understand the associated risks and potential outcomes before making investment decisions. Please note that any charts and/or information are intended to aid in research and should not be considered a definitive part of your personal trading strategy. Not all charts will lead to actionable buy or sell signals at any given time. Individuals should consider consulting a qualified financial advisor before making any investment decisions.
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Sample Trading System
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SYS Daily Report
Markets Hold Steady Amid Nvidia Earnings, Bitcoin Surge, and TSX Resilience
The stock market showed resilience on Wednesday as major indexes pared early losses, with key sectors and notable companies driving the day’s narrative. Initially down 1.4% intraday, the Nasdaq Composite managed to recover most of its losses to close just 0.1% lower, holding above its 21-day moving average. Similarly, the S&P 500 reversed from a nearly 1% intraday decline to finish fractionally higher, while the Dow Jones Industrial Average rose 0.3%, snapping a four-session losing streak. The Russell 2000 also edged higher, reflecting broader stability despite early turbulence.
Nasdaq – Daily Chart
S&P 500 – Daily Chart
Dow Jones Industrial Average – Daily Chart
Russell 2000 (ETF) – Daily Chart
In a much-anticipated earnings report, Nvidia (NVDA) posted another quarter of stellar growth. The AI chip leader reported a 94% jump in revenue and 102% EPS growth year-over-year, marking its sixth straight quarter of triple-digit EPS gains. Despite the impressive figures, guidance for the next quarter showed only modest improvement, which tempered investor enthusiasm. Shares fell slightly in extended trading but managed to hold above critical support levels, showcasing resilience. CEO Jensen Huang emphasized, “The age of AI is in full steam,” underscoring the company’s dominant position in AI and computing.
The earnings season brought mixed results for other key players. Target (TGT) shares plunged more than 20% after reporting weaker-than-expected earnings and revenue, coupled with a subdued outlook. The disappointing results highlighted a stark contrast with Walmart (WMT), which reported strong holiday season performance just a day earlier. In tech, Snowflake (SNOW) exceeded consensus expectations, sending its shares surging in after-hours trading, while Palo Alto Networks (PANW) beat earnings but saw its stock decline as revenue just topped estimates.
In Canada, the TSX Composite Index edged up 0.1%, closing at 25,036.46—just shy of its all-time high of 25,049.67 set last Thursday. Gains in the energy sector, which climbed 1%, helped offset declines in consumer discretionary stocks, such as Dollarama (DOL.TO), which fell 3.3% to hit a three-week low. Investor sentiment remains cautious ahead of new catalysts, with Alberta’s Investment Management Corp. making headlines after appointing former Canadian Prime Minister Stephen Harper as chairman following the dismissal of its previous board.
TSX – Daily Chart
Meanwhile, Bitcoin continued its meteoric rise, reaching a new intraday high of $94,963—a 35% gain since November 5. The cryptocurrency’s surge has been fueled by robust options trading volumes tied to the debut of BlackRock’s Bitcoin ETF, along with increasing scarcity as approximately 20 million out of 21 million Bitcoin have already been mined. Crypto-related stocks, including Coinbase (COIN) and MicroStrategy (MSTR), also gained ground.
Bitcoin – Weekly Chart
Treasury yields edged higher, with the 10-year note yield rising 3 basis points to 4.41%, as investors adjusted expectations for Federal Reserve policy. Futures traders now see a 52% chance of a quarter-point rate cut in December, down from 77% a month ago.
10-Year US Treasury Yield
Market breadth is showing mixed signals. While the major indexes continue to hold key support levels, the flattening number of new highs and increasing new lows on the Nasdaq signal weakening breadth. Moreover, the Investors Intelligence Bullish Sentiment Survey showed 60% bullishness for the second consecutive week, a contrarian indicator that often precedes market tops.
The market’s ability to recover from early losses reflects underlying strength, particularly among leading growth stocks. However, caution is warranted as rising sentiment and weakening breadth present challenges for sustained gains. Investors should focus on well-formed bases and technical setups while avoiding chasing extended stocks in the current environment.
“Don’t argue with the tape. It doesn’t matter what you think; it’s what the market does that counts.” – Jesse Livermore
Now, onto the daily setups.
US Daily Setups
AR – Antero Resources Corp.
Antero Resources continues to show strong momentum from the recently highlighted pattern.
LINK TO CHART – https://schrts.co/yqhYbdBQ
CF – CF Industries Holdings, Inc.
CF Industries continues to show upside strength from the bullish flag we highlighted, with price action now attempting a 52-week high breakout.
LINK TO CHART – https://schrts.co/XXhgVhjr
CORZ – Core Scientific Inc.
Core Scientific is attempting to break out from a bullish flag continuation pattern.
LINK TO CHART – https://schrts.co/fpwRCqrg
FCNCA – First Citizens BancShares, Inc.
First Citizens Bancshares continues to show signs of upside strength following the recently highlighted bullish flag retest.
LINK TO CHART – https://schrts.co/mBmQRsaq
MWA – Mueller Water Products Inc.
Mueller Water Products appears to be set up in the form of a potential bullish flag continuation pattern.
LINK TO CHART – https://schrts.co/qmvnPBbV
UNFI – United Natural Foods, Inc.
United Natural Foods is starting to break out from the recently highlighted bullish pennant continuation pattern.
LINK TO CHART – https://schrts.co/fuUwZREb
WFG – West Fraser Timber Co., Ltd.
West Fraser Timber appears to be consolidating in the form of a potential bullish flag continuation pattern.
LINK TO CHART – https://schrts.co/aDmpFDCz
Canadian Daily Setups
ARX.TO – ARC Resources Ltd.
ARC Resources continues to attempt its 52-week high breakout from the base we have been monitoring.
LINK TO CHART – https://schrts.co/DJXFNxPG
BOIL.CA – Beyond Oil Ltd.
Beyond Oil is appearing on momentum scans.
LINK TO CHART – https://schrts.co/XmVYXGcW
OVV.TO – Ovintiv Inc
Ovintiv is attempting to break out from a bottoming pattern.
LINK TO CHART – https://schrts.co/TQipHkSi
PD.TO – Precision Drilling Corp.
Precision Drilling appears to be set up below a significant horizontal resistance line. Monitor for any potential breakout signals.
LINK TO CHART – https://schrts.co/WKTCUDhB
PEY.TO – Peyto Exploration & Development Corp.
Peyto is now breaking out from the flag pattern we have been highlighting.
LINK TO CHART – https://schrts.co/CNWyCgkW
TOU.TO – Tourmaline Oil Corp.
Tourmaline Oil appears to be setting up in the form of a giant consolidation triangle. Monitor for any potential breakout signals.
LINK TO CHART – https://schrts.co/uahxtHyV
VET.TO – Vermilion Energy Inc.
Vermilion Energy appears to be setting up in the form of a potential bottoming pattern. Note how the PPO momentum indicator is already positive as it rebounds from the zero line.
LINK TO CHART – https://schrts.co/rFYVrJBQ
To conclude our report, we thank you for your engagement and insights. Your feedback is valuable, 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 – Trend Scan – 2024-11-20
AA, AAOI, AAPL, ACA, ADMA, ADSK, AEM, AEP, AER, AFRM, AGI, AGIO, AGX, AGYS, AI, AKRO, ALAB, ALB, ALDX, ALKT, ALLT, AM, AME, AMSC, AMZN, ANSS, ANY, APD, APH, APLD, APLT, APO, APP, AQST, ARCH, ARES, ARGX, ARIS, ASB, ASIX, ATAT, ATEN, ATLC, ATO, AVPT, AWI, AXP, AXR, AXS, AZEK, BANX, BARK, BBAR, BBSI, BCOV, BCS, BERY, BFLY, BK, BKNG, BKR, BLFS, BLND, BLTE, BMA, BNS, BRBR, BROS, BRT, BSIG, BSTZ, BTDR, BTI, BTO, BUSE, BWAY, BY, CAAS, CANG, CAPR, CASH, CASY, CBFV, CBL, CBNK, CCB, CCBG, CCJ, CCOI, CCRD, CCSI, CECO, CENX, CFB, CFFI, CHEF, CHH, CHI, CHWY, CIA, CINF, CINT, CIVB, CLBT, CLMB, CM, CMPO, CNX, COCO, CODA, COMP, CORT, CORZ, CORZQ, CPAC, CPAY, CPSS, CR, CRAI, CRESY, CRGY, CRH, CRK, CTAS, CUZ, CVBF, CVCO, CVLT, CWAN, CYBR, DDL, DEI, DESP, DHF, DJCO, DMLP, DPG, DUOL, EA, EAT, EFXT, ELUT, EME, EMO, ENR, EOI, EPAC, EPD, EQX, ESI, ETR, EVR, EVRG, EWBC, EWTX, EXEL, EXFY, EXLS, EXPE, EZPW, FCNCA, FDP, FEIM, FFIV, FHB, FHI, FI, FICO, FINV, FIX, FLEX, FLS, FOX, FPH, FRHC, FSBW, FSFG, FSV, FTDR, FTNT, FULT, FWONA, G, GAIA, GAMB, GCMG, GDDY, GDYN, GEN, GGAL, GILD, GLRE, GMED, GNSS, GRAB, GRC, GSHD, GWRE, GWW, HBI, HCKT, HEI, HEI/A, HG, HLI, HNI, HNRG, HOOD, HOPE, HQY, HSII, HTD, HUBG, HURN, HWKN, HWM, HYB, IAG, IBEX, IBKR, IDE, IHG, IIIV, INTA, IONQ, IOT, IP, IRMD, IRS, ISRG, ISTR, ITCI, ITIC, JEF, JRS, K, KGS, KINS, KNF, KNTK, KRMD, KRNT, KVUE, KYN, LAUR, LBRDA, LBRDK, LBTYA, LBTYK, LC, LDOS, LII, LINC, LLYVA, LMAT, LMB, LMND, LNG, LNT, LOAR, LOMA, LOVE, LOW, LPX, LRN, LSPD, LTH, LYV, MAG, MAIN, MAMA, MCRI, MCY, MDU, MIRM, MLI, MMYT, MNKD, MRBK, MRVL, MSI, MSTR, MTSI, MWA, MYTE, NATL, NEXN, NFBK, NFLX, NGVC, NI, NL, NLOP, NRIM, NTG, NTRA, NWG, OFIX, OII, OMF, ONON, OPBK, OPOF, OPY, ORCL, OSBC, OSPN, OWL, PAM, PANW, PAR, PAY, PBFS, PBH, PCT, PDEX, PEG, PEGA, PENN, PESI, PFSI, PG, PHAT, PHG, PKG, PL, PLBY, PLNT, PLTR, PLXS, PLYA, PODD, POOL, POR, POST, POWL, PPBI, PPC, PPL, PPTA, PRCT, PRI, PRIM, PRMW, PRTH, PTC, PTON, PWOD, PWR, QBTS, QCOM, QFIN, QNST, QTWO, QUBT, R, RCL, RDNT, RDWR, REG, RELL, RERE, RH, RLI, RNGR, ROOT, RRBI, RSI, RSVR, RVLV, RVMD, RYAN, SBFG, SBGI, SE, SEER, SEI, SF, SG, SGHC, SII, SILJ, SITM, SJM, SKE, SKT, SKWD, SKYW, SLG, SLQT, SLVM, SMCI, SND, SNOW, SNPS, SO, SOFI, SOUN, SPG, SPHR, SPOT, SPY, SQ, SQM, SRAD, SRE, SRUUF, SSYS, STEP, STGW, STN, STRL, SXC, TARS, TATT, TBBB, TBRG, TCOM, TDS, TECX, TGNA, TGS, TGTX, TILE, TKNO, TKO, TMUS, TNL, TPB, TPL, TPZ, TRAK, TRDA, TSBK, TTD, TTP, TVTX, TW, TWLO, TYG, TZOO, U, UAL, UD, UE, UEC, ULS, UPST, URA, USFD, USM, UTHR, VALU, VEL, VERX, VICR, VIRT, VIST, VMEO, VNET, VNOM, VRNA, VTS, VVX, WHG, WILC, WIT, WIX, WLFC, WLY, WMT, WRBY, WT, WTTR, WVE, WWD, XEL, XERS, YMM, YPF, YSG, Z, ZETA, ZG, ZIM, ZM, ZTR
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 – 2024-11-20
AAPL.NE, AAV.TO, ABX.TO, AEM.TO, AIF.TO, ALA.TO, ALS.TO, AMC.TO, AOI.TO, APXC.CA, ARX.TO, ATH.TO, ATRL.TO, ATS.TO, ATX.V, BBD/B.TO, BEPC.TO, BIPC.TO, BIR.TO, BK.TO, BLN.TO, BMO.TO, BNS.TO, BOIL.CA, BPF/UN.TO, CAE.TO, CAR/UN.TO, CAS.TO, CCO.TO, CEU.TO, CF.TO, CGG.TO, CHP/UN.TO, CJ.TO, CLS.TO, CM.TO, CMI.V, CNE.TO, CNQ.TO, CWB.TO, CXB.TO, DBM.TO, DEER.NE, DF.TO, DFN.TO, DFY.TO, DGHI.V, DGS.TO, DIS.NE, DLCG.TO, DND.TO, DNG.TO, DSG.TO, DTOL.TO, E.TO, EFN.TO, EFX.TO, EMP/A.TO, EPRX.TO, EQB.TO, ESI.TO, EXE.TO, FEC.TO, FFH.TO, FFN.TO, FIH/U.TO, FM.TO, FN.TO, FNV.TO, FRU.TO, FSV.TO, FTN.TO, FVI.TO, GEI.TO, GEO.TO, GIB/A.TO, GIL.TO, GMIN.TO, GTWO.TO, GWO.TO, H.TO, HME.V, HOM/U.TO, HPS/A.TO, HWX.TO, IAG.TO, IFC.TO, IGM.TO, IMG.TO, IMO.TO, IMP.TO, IPCO.TO, IVN.TO, JWEL.TO, K.TO, KEI.TO, KEL.TO, KEY.TO, KNT.TO, KSI.TO, KXS.TO, LAAC.TO, LB.TO, LUG.TO, LULU.NE, MDA.TO, MFG.V, MRE.TO, MRT/UN.TO, MRU.TO, MTL.TO, MX.TO, NA.TO, NFLX.NE, NGD.TO, NVA.TO, NWC.TO, OGC.TO, OR.TO, OVV.TO, PANW.NE, PD.TO, PET.TO, PEY.TO, PNG.V, POU.TO, POW.TO, PPL.TO, PRL.R.TO, PRL.TO, PSK.TO, PSU/U.TO, PTI/UN.TO, PYPL.NE, PZA.TO, QSR.TO, RAY/A.TO, RBA.TO, RBY.TO, RSI.TO, RUS.TO, RX.V, SECU.V, SFC.TO, SGML.V, SGR/UN.TO, SHLE.TO, SIA.TO, SII.TO, SIS.TO, SLF.TO, SLS.TO, SOBO.TO, SSL.TO, STN.TO, T.TO, TBRD.V, TCW.TO, TFII.TO, TH.TO, TNZ.TO, TOU.TO, TPZ.TO, TVE.TO, TXG.TO, UNH.NE, VET.TO, VHI.TO, WCP.TO, WDO.TO, WELL.TO, WFG.TO, WMT.NE, WPK.TO, WPM.TO, WSP.TO, WTE.TO, X.TO, XTG.TO
