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.

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SYS Daily Report

Despite an initial surge driven by a CPI inflation report that exceeded expectations, the stock market rally experienced a session marked by mixed performance. Initially, the 10-year Treasury exhibited a notable upward movement, coming close to a 15-year high, but it later reversed course, surrendering some of its gains. In the afternoon, the stock market rally lost momentum, with all the major indexes retreating from their intraday advances toward the 50-day moving average. Despite this pullback, S&P 500 futures managed to eke out a 0.1% gain, reflecting a continued consolidation phase where prices remain sandwiched between two well-established trendlines. The overall tone of the market, however, was characterized by a degree of fragility, notably underscored by the small-cap Russell 2000’s test of its 200-day moving average. Uranium continues to be a glowing spot in the market.

Quoting the wisdom of Jesse Livermore, we find valuable insight: ‘In a narrow market, when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what the next big movement is going to be. The thing to do is to watch the market, read the tape to determine the limits of the get-nowhere prices, and make up your mind that you will not take an interest until the prices break through the limit in either direction.’

US Daily Setups

CB – Chubb Ltd.

Chubb is appearing in our scan results as price action begins to rise above a horizontal volume-by-price resistance line. Keep a close watch for potential signs of a breakout.

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

CME – CME Group Inc.

CME Group is currently making an attempt to reach new 52-week highs, emerging from a continuation pattern.

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

COST – Costco Wholesale Corp.

Costco continues to set up at the apex of a massive continuation pattern. Watch for a potential breakout.

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

RMBS – Rambus, Inc.

Rambus is currently pressing up against the underside of a major volume-by-price resistance line. Monitor for a potential continuation of the uptrend if the price can reclaim that resistance line.

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

TJX – TJX Cos., Inc.

TJX is currently making an attempt to reach new highs.

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

URA – Global X Uranium ETF

Uranium is once again a standout performer in the market today, with most sector setups showing strong momentum as the spot price continues to reach new highs.

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

Canadian Daily Setups

AMZN.NE – Amazon.com Inc. – Canadian Depository Receipt

Amazon is starting to trend to new 52-week highs from a continuation pattern.

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

ATD.TO – Alimentation Couche-Tard, Inc.

Alimentation Couche-Tard is currently making an attempt to reach a new all-time high, emerging from a continuation pattern while on the brink of surpassing all resistance.

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

BYD.TO – Boyd Group Income Fund

Boyd Group is beginning to trend higher from the apex of a multiple-month continuation pattern.

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

GOOG.NE – Alphabet Inc – Canadian Depository Receipt

Alphabet is currently consolidating just below its 52-week highs. Keep a close watch for a potential continuation of the uptrend.

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

MVRS.NE – Meta Platforms Inc – Canadian Depository Receipt

Meta is currently setting up just below its 52-week highs in the form of a continuation pattern. Keep a close watch for potential signs of a breakout.

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

U/UN.TO – Sprott Physical Uranium Trust

The Sprott Physical Uranium Trust is now breaking out from the flagging pattern that was shared yesterday.

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

US Scanner Results

Click on the CandleGlance chart to expand it to full size. If you discover a chart that aligns with your criteria or interests, you can effortlessly save it to your watchlist on StockCharts.com for further analysis and tracking.

SYS Research – Daily Report – Wednesday, September 13, 2023