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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SYS Daily Report
Stocks Dip Ahead of Thanksgiving, Crypto Sector Remains Resilient
Financial markets displayed mixed performances on November 27, 2024, as U.S. equities pulled back from recent highs, while the cryptocurrency market held its ground, showcasing strength among leading digital assets. In Canada, the TSX Composite Index hit a record high, buoyed by gains in consumer-related and utility sectors.
Stock Market Performance
The Dow Jones Industrial Average fell 138 points (0.3%), ending its six-day winning streak, while the S&P 500 declined 0.4%, snapping a seven-day rally. The Nasdaq Composite slid 0.6%, weighed down by weak earnings from technology firms. Despite these declines, small-cap stocks, as tracked by the Russell 2000, edged higher by 0.3%, nearing its all-time high set in November 2021.
Dow Jones Industrial Average – Daily Chart
S&P 500 – Daily Chart
Nasdaq – Daily Chart
Russell 2000 (ETF) – Daily Chart
Trading volumes were notably light on the Nasdaq and NYSE, typical of the pre-holiday period.
The S&P 500 Information Technology sector fell 1.2%, leading declines. Notable tech laggards included Dell Technologies (DELL) and HP (HPQ), which tumbled 12% and 11%, respectively, following weak earnings tied to soft consumer demand. Software firms such as CrowdStrike (CRWD) and Workday (WDAY) also posted sharp losses of 4.6% and 6%. Despite challenges in the tech sector, Nvidia (NVDA) managed to hold its 50-day moving average, though it closed down 1.15%.
Canadian Markets: TSX Hits Record High
The TSX Composite Index in Canada rose 0.3% to a record 25,488.30, driven by strong performances in utilities and consumer staples. Investor concerns over potential U.S. tariffs on Canadian imports eased, with analysts viewing the proposed measures as unlikely to disrupt trade significantly.
Leading the charge, Parkland Corp (PKI.TO) surged 5.1% after announcing a stock buyback program, while Alimentation Couche-Tard (ATD.TO) climbed 4.3% on the back of higher analyst price targets. The consumer staples sector advanced 1.9%, and utilities added 0.9%, reflecting confidence in these traditionally defensive areas.
TSX – Daily Chart
Economic Data and Treasury Yields
The Federal Reserve’s preferred inflation gauge, the PCE price index, rose 0.2% month-over-month and 2.3% year-over-year, aligning with market expectations. This steady inflation environment reassured investors, contributing to a drop in the 10-year Treasury yield, which fell 6 basis points to 4.24%. Meanwhile, unemployment claims held steady at 213,000, and third-quarter GDP growth was confirmed at 2.8%, reflecting continued economic stability.
10-Year US Treasury Yield
Market Trends and Outlook
While U.S. equities saw a modest pullback, the broader market rally remains intact, with historical trends suggesting a favorable environment for equities from Thanksgiving through year-end. The S&P 500 has historically gained 1.8% on average during this period, and expectations for favorable regulatory policies under the incoming administration are fueling optimism in the cryptocurrency space.
Canadian markets continue to outperform, with the TSX benefiting from easing inflation concerns and strong sectoral performances. In cryptocurrencies, the resilience of Bitcoin and Ethereum underscores investor confidence in speculative assets.
The financial landscape on November 27, 2024, reflects a balance of caution and optimism. U.S. stocks retreated amid weak tech earnings, but Canada’s TSX set a record high, driven by strong gains in consumer staples and utilities. Meanwhile, cryptocurrencies continued their bullish trajectory, signaling robust investor interest in the space. With economic indicators pointing to stability and Treasury yields declining, markets appear well-positioned for a favorable close to the year. Investors are encouraged to remain vigilant and adaptive, focusing on sector-specific opportunities as the holiday season approaches.
“A good trader knows that they don’t have to trade all the time. The best trades often come from patience.” – Marty Schwartz
Now, onto the daily setups.
US Daily Setups
BITQ – Bitwise Crypto Industry Innovators ETF
The Bitwise Crypto Industry Innovators ETF is consolidating in a potential bullish pennant continuation pattern located below its 52-week high.
LINK TO CHART – https://schrts.co/KdvBRrnm
DEFTF – DeFi Technologies Inc.
DeFi Technologies continues to consolidate around its breakout line. Monitor for signs of upside momentum if strength persists in the crypto market.
LINK TO CHART – https://schrts.co/XRUjtWuq
ETHA – iShares Ethereum Trust ETF
The iShares Ethereum Trust ETF is breaking out from the chart we recently highlighted in the daily setup, aligning with the price action in Ethereum.
LINK TO CHART – https://schrts.co/hzHRjqjH
HUT – Hut 8 Mining Corp.
Hut 8 Mining is breaking out from the pattern we highlighted in the weekend report.
LINK TO CHART – https://schrts.co/dDQCWyuf
IREN – Iris Energy Ltd.
Iris Energy appears to be setting up below a potential trigger line.
LINK TO CHART – https://schrts.co/gvBrJKaq
WGMI – Valkyrie Bitcoin Miners ETF
The Valkyrie Bitcoin Miners ETF is consolidating in the form of a potential bullish flag along its recent breakout line. Monitor for signs of upside momentum.
LINK TO CHART – https://schrts.co/TrGgDISC
WULF – TeraWulf Inc.
TeraWulf appears to be set up in a bullish flag retest of the recent breakout line. Monitor for any potential breakout signals.
LINK TO CHART – https://schrts.co/eRhKzRhB
Canadian Daily Setups
DEFI.NE – DeFi Technologies Inc.
DeFi Technologies continues to consolidate around its breakout line. Monitor for signs of upside momentum if strength persists in the crypto market.
LINK TO CHART – https://schrts.co/mwrqrdiU
ETHH.TO – Purpose Ether ETF
The Purpose Ether ETF is breaking out from the chart we recently highlighted in the daily setup, aligning with the price action in Ethereum.
LINK TO CHART – https://schrts.co/DIVJernJ
GLXY.TO – Galaxy Digital Holdings Ltd.
Galaxy Digital is consolidating in the form of a potential bullish flag continuation pattern.
LINK TO CHART – https://schrts.co/VUpANTIc
H.TO – Hydro One Limited
Hydro One is attempting to move higher from the recently highlighted continuation pattern.
LINK TO CHART – https://schrts.co/GHprMbWM
HODL.CA – Sol Strategies Inc.
Sol Strategies is consolidating in a potential bullish pennant continuation pattern located below its 52-week high.
LINK TO CHART – https://schrts.co/ZNvuqyAE
HUT.TO – Hut 8 Mining Corp
Hut 8 Mining is breaking out from the pattern we highlighted in the weekend report.
LINK TO CHART – https://schrts.co/vVZciXRC
VLE.TO – Valeura Energy Inc.
Valeura Energy continues to set up below a potential trigger line, supported by robust volume.
LINK TO CHART – https://schrts.co/KHNXZgnh
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 – US Watchlist Scan – 2024-11-27
A, ABBV, ABT, ACGL, ACVA, ADMA, ADPT, ADSE, AEE, AEP, AEYE, AFL, AFRM, AGNC, AI, AIG, AIOT, AJG, AKRO, ALB, ALDX, ALHC, ALL, ALLE, ALNY, AMCR, AMPS, AMR, AMRK, AMT, ANF, ANY, AON, AORT, AQST, ARCB, ARGX, ARKF, AS, ASA, ATEN, ATLC, ATO, ATRC, ATYR, AUR, AVB, AWK, AWP, AXGN, AXON, AXS, AZO, BABA, BAC, BARK, BBAI, BBW, BCRX, BCS, BDN, BE, BECN, BEN, BEP, BEPC, BERY, BFLY, BGNE, BIDU, BIPC, BITF, BITO, BITQ, BITW, BK, BKNG, BKR, BLFS, BLND, BLOK, BMI, BMY, BN, BNS, BNT, BPMC, BRC, BRK/B, BROS, BRPHF, BRX, BSX, BTBT, BTDR, BTG, BTI, BTM, BTSG, BURL, BVS, BWA, BZUN, C, CAH, CAKE, CALM, CAN, CANG, CARG, CASH, CB, CBL, CBOE, CBRE, CCAP, CCI, CCK, CCOI, CCSI, CDE, CDXC, CF, CFG, CGBD, CHKP, CIB, CIFR, CIGI, CIM, CINF, CINT, CKPT, CL, CLPT, CLSK, CME, CMPS, CMS, CMTL, CNA, CNK, CNP, COIN, COMM, COMP, COO, COOP, COR, CORT, CORZ, CORZQ, CPNG, CPRI, CPRX, CPT, CRBG, CRGY, CRNC, CRTO, CRVS, CSGP, CSV, CTLT, CUZ, CVRX, CVS, CWK, D, DAKT, DAPP, DAVE, DAY, DCTH, DD, DDI, DDL, DE, DEFTF, DEI, DFH, DGX, DHI, DIS, DKS, DLR, DLTR, DMLP, DOGZ, DOV, DPG, DQ, DRI, DRUG, DTE, DUK, DXCM, DY, EAT, EBS, ECL, EDR, EE, EFXT, EG, EIX, EL, ELDN, ELMD, ELUT, ELVN, EMO, ENR, EOG, EOI, EPD, EQIX, EQR, ERAS, ES, ESQ, ESS, ET, ETHE, ETON, ETR, EVRG, EW, EWBC, EWTX, EXC, EXR, EZPW, FDIG, FDX, FE, FEIM, FIHL, FINV, FNF, FNKO, FOF, FOUR, FOX, FOXA, FRHC, FRT, FSV, FTEL, FTV, FWONA, GAMB, GAP, GBTC, GCT, GDS, GEO, GIL, GILD, GKOS, GL, GLBE, GLW, GME, GMED, GPK, GPN, GRAB, GSAT, HAFC, HAL, HASI, HCC, HCI, HCM, HEAR, HERO, HES, HESM, HIG, HIPO, HIVE, HOLX, HOOD, HRL, HSBC, HSIC, HST, HTD, HUT, HYB, HYG, HYLN, IAG, IBB, IBIT, IBTA, ICAD, ICE, IDCC, IHG, IHI, IIIV, IKT, INCY, INFL, INSM, INVH, IONQ, IREN, IRM, IRMD, IRS, ITB, ITCI, ITGR, ITRI, IWM, J, JBL, JBT, JD, JETS, JFIN, JKS, JNJ, JOBY, JRS, K, KARO, KBH, KD, KIM, KNSL, KRMD, KRYS, KVUE, KWEB, KYN, L, LBTYA, LBTYK, LC, LEN, LENZ, LEU, LFT, LFVN, LH, LIN, LINC, LIT, LLYVA, LMAT, LNC, LNT, LNTH, LSCC, LSPD, LU, LUCD, LULU, LUNR, LUV, LVS, LX, LYV, MA, MAA, MAIN, MAMA, MARA, MBLY, MCK, MCO, MCY, MD, MDXG, MESO, MET, METC, METV, MFC, MGA, MIRM, MLCO, MLR, MMC, MNST, MO, MOMO, MORN, MP, MPLX, MSCI, MSI, MSOS, MSTR, MTB, MUA, NATL, NDAQ, NDSN, NEE, NFLX, NL, NLOP, NPO, NRDS, NTRA, NUE, NWG, O, OCUL, OIH, OII, OLLI, OMCL, OPEN, OPK, OPY, OSBC, OTIS, PAM, PAR, PBH, PCAR, PCG, PCOR, PDEX, PFG, PFIE, PFSI, PG, PHG, PHM, PL, PLAY, PLBY, PLD, PLL, PLSE, PLTR, PNC, PNW, PODD, POR, PPL, PPTA, PRMW, PRQR, PRTH, PRU, PSA, PSFE, PTGX, PTON, PWOD, PX, QBTS, QFIN, QSR, QTUM, QUAD, QUBT, RBA, RBLX, RDN, RDNT, REG, RELL, RELX, RERE, RGTI, RH, RIGL, RIOT, RIVN, RJF, RKLB, RNR, ROAD, ROP, ROST, RS, RUM, RVTY, RYAN, RYN, RYTM, RZLT, S, SAFE, SBAC, SBRA, SBUX, SCHW, SDA, SDGR, SE, SEER, SEG, SEI, SGMO, SHOO, SHOP, SIEB, SII, SILA, SKE, SKT, SKWD, SLF, SLG, SLQT, SMLR, SMR, SMTC, SMWB, SNAP, SNBR, SNOW, SNWV, SO, SOFI, SOLV, SOUN, SPB, SPFI, SPG, SPGI, SPRY, SRAD, SRE, SRV, SSNC, SSYS, STLD, SUPN, SXC, SYY, T, TARS, TBBK, TBRG, TCOM, TDOC, TDY, TEAM, TECH, TECX, TEL, TEM, TFC, TG, TGLS, TGS, TGT, TGTX, THRD, TIGR, TJX, TKNO, TKO, TLT, TMUS, TOL, TPL, TRDA, TRI, TRMB, TROW, TRU, TRV, TSAT, TSCO, TSN, TWFG, TWST, TYG, TYRA, TZOO, U, UAA, UDR, UE, UFCS, UFPT, ULH, ULTA, UMBF, UNFI, UNH, UNM, UPS, UPWK, URA, USAP, UTHR, UTI, UVSP, V, VBNK, VCYT, VICI, VIRT, VLTO, VMEO, VNET, VOD, VOYA, VRNA, VRSN, VSCO, VTR, VTRS, VZ, WB, WBD, WD, WDOFF, WEC, WELL, WES, WGMI, WLDN, WM, WMT, WOOF, WRB, WS, WSFS, WSO, WST, WTFC, WTTR, WTW, WULF, WVE, WWW, WY, X, XBI, XEL, XERS, XLC, XLF, XLP, XLRE, XLV, XME, XNET, XOP, XRT, XYF, YMM, YSG, YUM, YUMC, Z, ZBH, ZBIO, ZBRA, ZG, ZLAB, ZM, ZTR, ZYXI
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 – 2024-11-27
ADEN.TO, AI.TO, AIF.TO, ALA.TO, ALS.TO, AMC.TO, AMRQ.V, AMX.V, APM.V, AQN.TO, ARTG.V, ATD.TO, ATD/A.TO, ATRL.TO, ATS.TO, ATX.V, ATZ.TO, AUMC.CA, AYA.TO, BB.TO, BBU/UN.TO, BBUC.TO, BCE.TO, BCT.TO, BDT.TO, BEP/UN.TO, BEPC.TO, BIP/UN.TO, BIPC.TO, BITF.TO, BK.TO, BLN.TO, BMO.TO, BN.TO, BNS.TO, BNT.TO, BRK.NE, BTB/UN.TO, BTO.TO, CAD.V, CAE.TO, CAR/UN.TO, CAS.TO, CEU.TO, CF.TO, CGX.TO, CHE/UN.TO, CHR.TO, CIA.TO, CIG.TO, CIGI.TO, CPX.TO, CRT/UN.TO, CTC/A.TO, CU.TO, CURA.TO, CVS.NE, CWB.TO, CXB.TO, DEFI.NE, DF.TO, DFN.TO, DGHI.V, DIS.NE, DNG.TO, DPM.TO, DV.V, DXT.TO, ECN.TO, EDV.TO, EFX.TO, ELO.TO, EMA.TO, EMP/A.TO, ENB.TO, ENS.TO, EQX.TO, ERE/UN.TO, ETHC.NE, ETHH.TO, EXE.TO, FC.TO, FFN.TO, FFN/PA.TO, FM.TO, FRU.TO, FSV.TO, FTN.TO, FTS.TO, G.TO, GASX.V, GAU.TO, GIB/A.TO, GLXY.TO, GOT.V, GRA.TO, GTE.TO, GTII.CA, GTWO.TO, GWO.TO, H.TO, HD.NE, HITI.V, HIVE.V, HME.V, HODL.CA, HPS/A.TO, HTL.TO, HUT.TO, IAG.TO, IFX.V, IGM.TO, ILLM.TO, IMG.TO, IVN.TO, JWEL.TO, KBL.TO, KEY.TO, KITS.TO, KMP/UN.TO, KSI.TO, KXS.TO, L.TO, LAAC.TO, LAC.TO, LB.TO, LIF.TO, LSPD.TO, LUG.TO, MDP.TO, MFI.TO, MG.TO, MI/UN.TO, MPCT/UN.TO, MR/UN.TO, MRU.TO, MSA.TO, MTY.TO, MX.TO, NA.TO, NEO.TO, NFG.V, NG.TO, NGD.TO, NGEN.V, NICU.V, NOA.TO, NURS.V, NVA.TO, NWH/UN.TO, OGC.TO, OGN.V, OLA.TO, PET.TO, PHX.TO, PIF.TO, PKI.TO, PMZ/UN.TO, PNG.V, POU.TO, POW.TO, PPTA.TO, PRU.TO, PSK.TO, QBR/B.TO, QSR.TO, QTRH.TO, REAL.TO, RS.TO, RUS.TO, RY.TO, SAP.TO, SFC.TO, SGR/UN.TO, SHOP.TO, SIA.TO, SII.TO, SIL.TO, SLS.TO, SRU/UN.TO, SSL.TO, SSRM.TO, STC.TO, T.TO, TA.TO, TCW.TO, TD.TO, TGH.V, THNC.TO, TOI.V, TOT.TO, TOY.TO, TPZ.TO, TSU.TO, TXG.TO, VBNK.TO, VET.TO, VHI.TO, VISA.NE, VLE.TO, WDO.TO, WELL.TO, WILD.TO, WMT.NE, WN.TO, WTE.TO, X.TO, ZDC.V, ZEN.V
