SYS Research – Daily Report – Wednesday, November 29, 2023

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.

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SYS Daily Report

The Wall of Worry: Market Update and Fed’s Impact on Investor Sentiment

The November rally regained momentum Wednesday morning after a brief hiatus, with the Nasdaq surging to a new high for the year. As we approach the penultimate trading day of November, the Nasdaq boasts an impressive nearly 12% month-to-date gain, while the S&P 500 holds a solid increase of just over 9%.

However, as we turn our attention to today’s intraday market activity, while the stock market initiated the day on a positive note, it experienced a reversal later in the day, retracing its gains and settling near the day’s lows by the afternoon. Investor optimism stemming from higher-than-expected GDP figures waned as weak economic data emerged. The Federal Reserve’s influence on market sentiment cannot be overlooked, as the Beige Book highlighted a deterioration in their overall economic outlook for the next six to twelve months.

Nasdaq Composite

S&P 500

The current market landscape exudes a decidedly bullish sentiment, characterized by the scarcity of selling days during this ongoing rally. Investors seem to be traversing the proverbial “wall of worry,” attracting funds from underinvested money managers as we approach the year’s end. As previously discussed, these managers are acutely aware of the need to deliver solid performance to their clients. A failure to match or outperform the benchmark could result in a less-than-jolly outcome – a metaphorical lump of coal in their year-end stockings.

The persistence of concerns and uncertainties on the horizon is actually beneficial for the market at this juncture. As long as a “wall of worry” remains, capital on the sidelines is waiting to be deployed, providing the necessary fuel to sustain the ongoing rally. History has shown that the moment everyone becomes excessively bullish often signals a potential turning point, as it indicates that liquidity has been fully absorbed, leaving little fuel to propel the market higher.

In the intricate dance of market dynamics, tonight’s report delves into the nuances shaping the financial landscape, exploring the delicate balance between optimism and caution that guides investors through these turbulent times as we dive into the daily setups. As the great Jesse Livermore wisely observed, ‘There is a time for all things, but I didn’t know it. And that is precisely what beats so many men in Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time.’ Let’s heed these timeless words as we navigate the ever-changing currents of the market in pursuit of prudent daily setups.

US Daily Setups

BX – Blackstone Group Inc.

The Blackstone setup continues to exhibit strength, potentially setting the stage for a base breakout.

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

 

NET – Cloudflare Inc.

The Cloudflare setup persists in displaying strength as price action begins to trend higher from its rounded bottom pattern, with the weekly PPO accelerating higher off the zero line.

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

 

ONON – On Holding AG

On Holding is starting to push higher from a significant falling wedge continuation pattern.

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

 

SCHW – Charles Schwab Corp.

Charles Schwab is attempting to break out from a large falling wedge continuation pattern.

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

 

TEAM – Atlassian Corp.

Atlassian is attempting to break out from a significant bottoming base.

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

 

URI – United Rentals, Inc.

United Rentals appears to be setting up for a potential new all-time high breakout.

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

 

Canadian Daily Setups

BDGI.TO – Badger Infrastructure Solutions Ltd.

Badger Infrastructure is showing up on momentum scans as price action sets up for a potential 52-week high breakout.

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

 

BITF.TO – Bitfarms Ltd.

Bitfarms is breaking out from a wedge pattern, accompanied by a surge in bullish volume.

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

 

ENB.TO – Enbridge, Inc.

Enbridge is starting to push higher from a significant falling wedge continuation pattern.

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

 

FIL.TO – Filo Mining Corp.

Filo Mining is gaining momentum off the lower trendline of a significant multi-year consolidation pattern. Monitor for continuation and upside strength, which could potentially propel the price back to the upper trendline of the pattern, followed by a breakout.

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

 

NOA.TO – North American Construction Group Ltd

North American Construction Group is attempting to break out from a falling channel continuation pattern.

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

 

WDO.TO – Wesdome Gold Mines Ltd.

Wesdome Gold Mines is now pushing above the upper trendline and horizontal resistance of the bottom base we’ve been monitoring.

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

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 – 2023-11-29.xlsx

A, AAL, AAON, ABBNY, ABBV, ABT, ACA, ACAD, ACEL, ACIW, ACN, ADBE, ADI, ADSK, AEL, AEM, AEO, AER, AES, AFL, AFRM, AFYA, AGI, AGRO, AIG, AKAM, ALG, ALK, ALLE, ALPN, ALTR, ALV, AMAT, AMCR, AMD, AMGN, AMT, ANET, APG, APH, APO, ARCH, ARCO, ARE, ARES, ARKK, AROC, ASAN, ATEYY, AVY, AWI, AWK, AXP, AZEK, BA, BAC, BALL, BBVA, BBW, BCC, BCO, BIIB, BITQ, BK, BKNG, BLD, BLK, BLKB, BLOK, BPOP, BR, BRBR, BRC, BRK/B, BRZE, BSBR, BSM, BSY, BTBT, BUR, BVN, BX, C, CAPL, CARG, CASH, CAT, CB, CBAY, CCAP, CCCS, CCI, CCL, CCS, CDAY, CDNS, CDW, CE, CEIX, CENT, CENTA, CFG, CGBD, CHKP, CHRD, CIEN, CL, CLS, CLSK, CMA, CMPR, CNM, COF, COIN, COLL, COOP, CQP, CRBG, CRC, CRH, CRL, CRM, CRWD, CSCO, CSGP, CSL, CSWC, CSWI, CSX, CUBI, CVLT, CVNA, CW, CWAN, CYBR, DAL, DASH, DB, DBI, DBX, DDOG, DECK, DEFTF, DELL, DFIN, DFS, DG, DHI, DHR, DKL, DLR, DLTR, DOV, DOW, DPZ, DT, DTM, DUK, DV, DXCM, EA, EADSY, EDU, EFX, EGO, EGY, ELF, ELTK, EMN, ENLC, ENPH, ENTG, EOG, EPAM, EPD, EQIX, ERIE, ERJ, ESTC, ETRN, ETSY, EVR, EW, EXPD, EXPE, EXR, FA, FBIN, FBP, FDIG, FERG, FFIV, FI, FICO, FIS, FITB, FIVE, FLR, FMX, FOUR, FROG, FRSH, FTV, GDX, GDXJ, GDYN, GE, GEL, GEN, GFI, GLD, GLOB, GLP, GLW, GM, GMS, GNRC, GPI, GPN, GPOR, GPS, GRBK, GRC, GS, GSHD, GWRE, HBAN, HEES, HESM, HLNE, HLX, HMY, HON, HPE, HPQ, HRI, HST, HTGC, HUBS, HY, IBM, IBN, IBOC, IBP, ICE, ICFI, IDCC, IEX, IGIC, IHG, IIPR, ILMN, IMGN, IMO, INFA, ING, INTA, INTC, INTU, IOT, IP, IPAR, IPG, IQV, IREN, IRM, ISRG, IT, ITRI, ITRN, ITW, IVZ, J, JCI, JKHY, JNPR, JPM, KEY, KEYS, KGC, KIM, KKR, KMI, KNTK, KOP, L, LAD, LBRT, LECO, LFMD, LH, LII, LLY, LNG, LOGI, LOW, LRCX, LRN, LSEA, LSPD, LULU, LUV, LYB, LZ, LZB, MA, MAIN, MANH, MARA, MAS, MBIN, MBLY, MCHP, MDB, MDT, MELI, MET, METV, MHO, MKTX, MLI, MMC, MMM, MMYT, MNSO, MORN, MPLX, MPWR, MRNA, MRO, MS, MSA, MSCI, MSTR, MTB, MTSI, MU, NBIX, NDAQ, NDSN, NEM, NET, NKE, NOG, NOW, NPO, NR, NS, NSC, NSIT, NTAP, NTB, NTNX, NTRS, NU, NUE, NVDA, NVMI, NVO, NVT, NWSA, NXPI, NXT, NYT, O, OC, OEC, OFG, OKE, OLED, OMC, ON, ONON, ONTO, OR, ORCL, OSG, OSIS, OSK, OTEX, PAA, PAGP, PANW, PARA, PARR, PATH, PAY, PAYC, PAYX, PBA, PCAR, PDD, PDS, PFG, PHM, PINS, PKG, PLTR, PNC, PODD, PPG, PPSI, PRDO, PRU, PSA, PSTG, PSX, PTC, PWR, PWSC, QCOM, QLYS, QRVO, QTRX, RAMP, RBC, RCL, RDNT, RDY, REG, REGN, REVG, RF, RHI, RHP, RIOT, RJF, RL, RMBS, RMD, RPD, RS, RTX, RUSHA, RWAY, RYAAY, SAH, SAIC, SAP, SBAC, SCHW, SCS, SDRL, SEDG, SHOP, SHW, SIL, SKX, SLV, SMAR, SMCI, SNOW, SNPS, SNX, SO, SOVO, SPG, SPGI, SPOT, SPXC, SQ, SSD, STLA, STLD, STN, STNE, STT, STX, SUM, SWK, SXC, SYF, SYK, T, TBBK, TDC, TDY, TEAM, TER, TFC, TFX, TGS, TGT, TIPT, TM, TMHC, TMUS, TOL, TREX, TRGP, TRIN, TRMB, TRNS, TRV, TS, TSLA, TSM, TTWO, TXN, TYL, UBER, UBS, UGA, UHS, ULTA, UNP, UPBD, URBN, URI, USB, V, VERX, VICI, VIST, VMC, VNOM, VOYA, VRNS, VRRM, VST, VTR, VTS, VZ, W, WAT, WBD, WDAY, WDC, WES, WFC, WGMI, WHD, WHR, WIX, WM, WMS, WOR, WPM, WRK, WSM, WSO, WTFC, WTS, XHB, XLK, XP, XYL, ZBRA, ZION, ZS

 

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 – 2023-11-29.xlsx

ABX.TO, AD/UN.TO, AEM.TO, AFN.TO, AGI.TO, AMD.NE, AMX.V, AOI.TO, AQN.TO, ARE.TO, ARIS.TO, ARR.TO, ARTG.V, ARX.TO, ATZ.TO, AYA.TO, AYR/A.CA, BAM.TO, BAM/A.TO, BB.TO, BDGI.TO, BDT.TO, BEI/UN.TO, BEP/UN.TO, BHC.TO, BITF.TO, BLDP.TO, BLX.TO, BMO.TO, BN.TO, BNS.TO, BOS.TO, BTE.TO, BTO.TO, CAD.V, CAR/UN.TO, CAS.TO, CEE.TO, CGG.TO, CIX.TO, CJT.TO, CKG.V, CL.CA, CLS.TO, CM.TO, CMG.TO, CNL.TO, CNQ.TO, CNR.TO, CPG.TO, CPLF.TO, CRON.TO, CSH/UN.TO, CTC/A.TO, CVE.TO, CVO.TO, CWB.TO, D/UN.TO, DNG.TO, EDV.TO, EFN.TO, EIT/UN.TO, ELD.TO, ENB.TO, ENS.TO, EQB.TO, EQX.TO, EXE.TO, FCR/UN.TO, FIL.TO, FR.TO, FTG.TO, FVI.TO, GDL.TO, GGD.TO, GMIN.V, GOLD.TO, GOLD.V, GSY.TO, GTE.TO, HOM/U.TO, HOM/UN.TO, HWX.TO, IAU.TO, IMG.TO, IMO.TO, INE.TO, IPCO.TO, ITR.V, JOY.TO, JWEL.TO, KEY.TO, KNT.TO, KXS.TO, L.TO, LMN.V, LNR.TO, LSPD.TO, MAG.TO, MDF.TO, MI/UN.TO, MKO.V, MOGO.TO, MSFT.NE, MTL.TO, NBLY.TO, NEO.TO, NGT.TO, NOA.TO, NPR.V, NVDA.NE, NVEI.TO, OBE.TO, OGI.TO, ONEX.TO, OR.TO, OSK.TO, OTEX.TO, PHYS.TO, PIC/A.TO, PLTH.CA, PMZ/UN.TO, PPL.TO, PRB.TO, PRU.TO, PRYM.V, PSI.TO, PSK.TO, PSLV.TO, PSU/U.TO, PTI/UN.TO, PTM.TO, PXT.TO, REAL.TO, RET/A.V, RUP.TO, RUS.TO, SEA.TO, SES.TO, SHOP.TO, SIL.TO, SIS.TO, STC.TO, STLC.TO, SU.TO, SVI.TO, SVM.TO, TCL/A.TO, TD.TO, TECK/B.TO, TFPM.TO, TGO.TO, TLRY.TO, TNZ.TO, TRP.TO, TUO.V, TVE.TO, TXG.TO, UBER.NE, VGCX.TO, VLE.TO, VMD.TO, VZLA.V, WDO.TO, WPM.TO, WPRT.TO, WTE.TO, ZTL.NE, ZTS.NE

 

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