Notice: The weekend report is provided for informational purposes only and is 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: The sector watchlists are updated every weekend. You may want to consider dedicating time to reviewing and creating your watchlist. Also, it’s essential to keep an eye on the Daily Setups and Workspace scan results, which can provide insights into 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 us 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.
Sample Trading System
The following trading system is presented as an educational example and should not be interpreted as financial advice. Past performance does not guarantee future results, and trading involves inherent risks. Please consult with a qualified financial advisor before implementing any trading strategies.
SYS Daily Report – Weekend Edition
Market Update: S&P 500 Extends Winning Streak Amid Holiday Cheer
The S&P 500 capped off its eighth consecutive week of gains on Friday, marking its lengthiest winning streak in six years. The week began with steady gains, faced a midweek slump, only to rebound and finish higher across the board. Notably, all three major indexes recorded their eighth straight week of gains, a notable feat for the Dow, S&P 500, and Nasdaq Composite.
The Red-Light/Green-Light Breadth System
The S&P 500 index saw a 0.2% uptick on Friday, contributing to an almost 0.8% gain for the week. Meanwhile, the Nasdaq Composite also added 0.2%, and the Dow Jones Industrial Average edged down 0.05%.
The S&P 500 climbed 0.75% throughout the week, consolidating within a tight trading range.
S&P 500 – Weekly Chart
The Nasdaq Composite registered a 1.2% gain, floating above its moving average.
Nasdaq – Weekly Chart
The Dow Jones Industrial Average exhibited a 0.2% weekly rise with sideways price action but closed down 0.05% on Friday.
Dow Jones Industrial Average – Daily Chart
The Russell 2000 hit a 20-month high in the small-cap arena, surging 2.63% and breaking above the upper trendline in the technical pattern observed in recent charts.
Russell 2000 (ETF) – Weekly Chart
The SSIH continues to maintain its bullish momentum, securely positioned in the positive rung. This sustained upward trend underscores the ongoing strength and positive sentiment surrounding the SSIH, highlighting its resilience and potential for further positive movements. Investors tracking the SSIH should stay vigilant for potential developments and opportunities within this persistently bullish trajectory.
SSIH
The benchmark U.S. Treasury note yield showed a slight uptick, moving from 3.893% on Thursday to 3.907% by the end of Friday. Notably, yields and prices move inversely, and the 10-year Treasury yield fell by two basis points to 3.91% over the course of the week. Meanwhile, the two-year Treasury yield, which is closely linked to the Federal Reserve’s policy outlook, experienced a 12-basis-point drop, settling at 4.34%.
10-Year US Treasury Yield
Simultaneously, the dollar index exhibited a decline on Friday, reaching a near five-month low. This descent was triggered by data revealing that annual U.S. inflation slowed further below 3% in November. Market sentiment solidified around the expectation of a U.S. interest rate cut in March, pushing the dollar index down by 0.85% to 101.34 for the week. This marks its lowest level since late July, putting the index on track to finish the year down by approximately 2%.
US Dollar – Weekly Chart
U.S. crude oil futures demonstrated resilience in the energy sector, climbing by 2.5% to $73.56 a barrel last week. The price action maintained support, as highlighted in the previous week’s report, and the market made efforts to execute a successful bull flag backtest. This positive momentum underscores the potential for ongoing strength in the crude oil market.
Crude Oil – Weekly Chart
Canada’s TSX composite index reached an 18-month high, closing at 20,881.19, its highest since June 2022, and gaining 1.7% for the week.
TSX – Weekly Chart
The price of copper is currently positioning itself below the trigger line that has been under close monitoring. Observers are advised to stay vigilant for a potential breakout, as such a move would likely catalyze increased demand for various copper mining stocks.
Copper – Weekly Chart
Gold exhibited strength last week, reaching a more than two-week high on Friday. This marked its second consecutive week of gains, propelled by a decline in the dollar and U.S. Treasury yields. Spot gold saw a notable uptick of 1.64%, closing the week at $2,029.50 per ounce, its highest level since December 4th. This positive price action puts gold on track for a 1.64% weekly gain as it strives to trend higher from the bull consolidation pattern located below new all-time highs.
Gold – Weekly Chart
The price of silver is currently in a setup phase near the apex of its pattern. Observers are advised to closely monitor the situation closely, especially considering the historical correlation between gold and silver. A breakout in gold would likely signal a corresponding breakout in silver, reinforcing the potential for a coordinated upward movement in both precious metals.
Silver – Weekly Chart
The uranium theme remains robust, with the current price action holding steady above the moving average in the ETF. This stability indicates continued positive momentum in the uranium market, showcasing resilience.
Uranium Theme – Global X Uranium ETF
Bitcoin has been a powerhouse in our daily setups, with miners outperforming across the board. Notably, some miners have experienced an impressive 100% upward move in the last two months, and many recorded double-digit percentage gains just last week. This strong performance underscores the influence and profitability of the cryptocurrency and its associated mining sector.
Bitcoin – Daily Chart
Sector Watchlist Highlights: Weekend Chart Setups
Link – Explore Our Featured Watchlist
In this segment of the weekly report, we delve into the setup section. As a friendly reminder, our sector watchlists receive updates every weekend, and we strongly encourage you to review these updates and craft your own watchlist based on the information provided. It’s also worth highlighting that monitoring the Daily Setups and Workspace scan results can yield valuable insights into potential future additions, potentially giving you a competitive advantage in the market.
In reviewing last week’s performance, notable trends emerged across various sectors. All areas, excluding utilities, closed in positive territory, with our Bitcoin mining stocks particularly standing out for their exceptional performance. Communication services, energy, and materials also demonstrated strong outperformance, while healthcare closely followed as the fourth strongest sector. While the overall market rally instills optimism for 2024, caution is advised as major indexes appear stretched. Concurrently, potential bull flags, tight trading ranges, and pullbacks surface in scanner results. When reviewing, investors are urged to adhere to system rules and remain vigilant, especially watching our notable outperformers and other opportunities on their watchlists.
What Worked Last Week
US Daily Setups
BELFB – Bel Fuse, Inc.
The Bel Fuse setup is now breaking out to a 52-week high and a new all-time high.
LINK TO CHART – https://schrts.co/KxsCmDtu
BTBT – Bit Digital Inc.
Bit Digital is breaking out from its recently highlighted continuation pennant.
LINK TO CHART – https://schrts.co/wnpMKxxj
CPS – Cooper-Standard Holdings Inc.
Cooper-Standard appears to be setting up on the right side of a basing pattern. Monitor for signs of upside strength that could lead to a potential breakout.
LINK TO CHART – https://schrts.co/GFNNQhae
HUT – Hut 8 Mining Corp.
Hut 8 Mining continues to show signs of upside strength following its breakout signal.
LINK TO CHART – https://schrts.co/XpkeKIaa
METC – Ramaco Resources, Inc.
Ramaco Resources is set up in the form of a bull flag continuation pattern with a bullish volume profile.
LINK TO CHART – https://schrts.co/HBcNACbc
MSTR – MicroStrategy Inc.
MicroStrategy continues to exhibit a staircase pattern with price action breaking out to another new 52-week high.
LINK TO CHART – https://schrts.co/dyvHzjwm
Canadian Daily Setups
CAS.TO – Cascades, Inc.
Cascades appears to be setting up on the right side of a basing pattern. Monitor for signs of upside strength that could lead to a potential breakout.
LINK TO CHART – https://schrts.co/EfQWuDBQ
CBIT.V – Cathedra Bitcoin Inc.
Cathedra Bitcoin saw more bullish volume on Friday. Monitor for signs of upside strength that could lead to a potential breakout.
LINK TO CHART – https://schrts.co/quPjrzwg
GLXY.TO – Galaxy Digital Holdings Ltd.
The Galaxy Digital setup continues to exhibit upside strength with volume.
LINK TO CHART – https://schrts.co/ZcpZPImD
HIVE.V – HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies continues to break out from our pattern with bullish volume.
LINK TO CHART – https://schrts.co/hKEuWuPm
HUT.TO – Hut 8 Mining Corp
Hut 8 Mining continues to show signs of upside strength following its breakout signal.
LINK TO CHART – https://schrts.co/HXdasbnC
NGEX.V – NGEx Minerals Ltd
NGEx Minerals saw more volume on Friday as price action attempted a base breakout.
LINK TO CHART – https://schrts.co/yxesxdba
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 of Friday’s scan results. 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 – 2023-12-25
AAON, ABBV, ABT, ACA, ACN, ADSK, AEE, AEM, AEO, AEP, AER, AFL, AFYA, AGI, AGM, AGO, AGYS, AIG, AIT, AIZ, ALB, ALKT, ALLE, ALPN, ALSN, ALTR, ALV, AM, AMAT, AME, AMGN, ANET, ANF, ANSS, AOS, APD, APG, APH, ARBK, ARCB, ARCH, ARES, ARM, AROC, ASML, ATI, ATO, AVAV, AVB, AWK, AXON, AXP, BAESY, BAH, BAM, BAX, BBVA, BBWI, BBY, BCC, BCML, BCO, BECN, BELFB, BEN, BIIB, BIO, BITQ, BKNG, BLBD, BLD, BLDR, BLOK, BLX, BMI, BMY, BR, BRC, BRK/B, BRO, BRZE, BSBR, BSX, BSY, BTBT, BTU, BUR, BVN, BWXT, BX, BYRN, CACI, CAH, CAMT, CARR, CASH, CB, CBAY, CBRE, CBT, CBZ, CCAP, CCCS, CCEP, CCL, CCOI, CCS, CDNS, CDW, CE, CEIX, CELH, CENT, CENTA, CF, CFB, CGBD, CHE, CHKP, CHRD, CHRW, CI, CIEN, CINF, CL, CLH, CLS, CLSK, CLX, CME, CMS, CNA, CNM, CNO, CNP, COIN, COKE, COLL, COO, COP, COPX, COR, CORZQ, CPB, CPRT, CPS, CR, CRH, CRS, CRSP, CRVL, CSAN, CSGP, CSTM, CSWC, CSWI, CTAS, CTLT, CUK, CVI, CVLG, CVS, CW, CWAN, CWCO, CXT, CYBR, D, DAC, DAVA, DB, DBX, DD, DE, DELL, DFH, DFIN, DFS, DG, DGHI, DGX, DHI, DHR, DHT, DINO, DKNG, DLR, DLTR, DMLP, DOV, DOW, DRS, DTM, DUK, DV, DVAX, DY, E, EADSY, EAT, EBAY, EGO, EHC, EIX, ELTK, EME, EMN, EMR, ENPH, ENTG, EPAC, EPAM, EQNR, EQR, ERIE, ES, ESAB, ESQ, ESTC, ETHE, ETN, ETR, EVR, EW, EXC, EXPD, EXPE, EXR, F, FA, FANG, FAST, FBP, FCNCA, FCX, FDIG, FDS, FERG, FFIV, FIS, FIVE, FLEX, FLNC, FLR, FLS, FRO, FROG, FRPT, FSLR, FSS, FSV, FTAI, FTI, FTNT, FTV, FWRG, GBDC, GBTC, GBX, GD, GDX, GDXJ, GDYN, GE, GEHC, GEOS, GFF, GGB, GGG, GIB, GILD, GLD, GLNCY, GLP, GLRE, GLW, GM, GNE, GNTX, GOOG, GOOGL, GPC, GRBK, GRC, GRMN, GS, GSHD, GTLB, GVA, GWRE, HAYN, HCA, HCC, HDSN, HESM, HIBB, HII, HIVE, HLT, HMY, HOLX, HON, HOV, HPE, HPQ, HRB, HSBC, HSY, HTGC, HUBB, HUBS, HUT, IBCP, IBOC, ICE, ICFI, IDCC, IDT, IEX, IGIC, IHI, IMO, INCY, INFA, ING, INSW, INTA, INTC, INVH, IOT, IP, IPAR, IR, IREN, IRM, ISRG, ITA, ITB, ITCI, ITRI, ITT, ITW, IVZ, IWM, J, JBHT, JBI, JCI, JHX, JNPR, K, KAI, KD, KDP, KEY, KEYS, KGC, KLAC, KMB, KMI, KO, KOP, KR, KRT, KTOS, KVUE, L, LAD, LAUR, LECO, LEU, LH, LII, LIN, LMND, LMT, LNG, LNT, LNW, LOPE, LPG, LRCX, LSEA, LSPD, LYV, LZ, MA, MAA, MAMA, MANH, MAR, MARA, MBC, MBLY, MCK, MDLZ, MEDP, META, METC, MFC, MHO, MITK, MKTX, MLI, MLM, MLR, MMC, MMM, MNST, MORN, MPLX, MRK, MRNA, MS, MSA, MSCI, MSFT, MSM, MSTR, MTD, MTH, MTRN, MTSI, MU, NBIX, NCLH, NCNO, NDAQ, NDSN, NEM, NHC, NI, NLR, NSC, NSSC, NTNX, NUE, NVMI, NVS, NVT, NX, NXE, NXT, NYT, ODFL, ODP, OEC, OKE, ONTO, OR, OSG, OSK, OTEX, OTTR, OZK, PAGP, PAGS, PARR, PATK, PAX, PAY, PBA, PBR, PBR/A, PCAR, PCG, PCOR, PEAK, PETQ, PFBC, PFG, PGTI, PH, PHG, PHM, PKG, PLAB, PLUS, PM, PNR, POWW, PPL, PR, PRDO, PRG, PRIM, PSA, PSN, PTC, PWSC, QCOM, QRVO, QSR, QTRX, RAMP, RBC, RCL, RDY, REGN, REVG, RHI, RHP, RIOT, RMBS, ROK, ROP, RPD, RPM, RS, RSP, RTX, RUSHA, RUSHB, RVTY, RYAAY, S, SAIA, SCCO, SCS, SFM, SHEL, SHW, SIL, SJM, SLX, SMH, SNA, SNX, SQSP, SRE, SRUUF, SSD, STE, STLD, STN, STNG, STRL, SUM, SWBI, SWK, SWKS, SWN, SXC, SXI, SYK, SYY, T, TAP, TBBK, TDW, TDY, TEAM, TECH, TER, TFC, TGLS, TGS, TGT, THR, TJX, TNC, TNK, TNP, TOL, TPH, TRMB, TRMD, TRNS, TROW, TRV, TS, TSCO, TSM, TSN, TT, TTE, TTWO, TW, TXT, TYL, UBS, UEC, UGP, UHS, UNP, UPS, URA, URG, URNJ, URMN, USAP, USFD, UUUU, VECO, VERX, VIV, VLGEA, VLO, VMC, VRRM, VRSK, VRSN, VRTS, VSEC, VST, VTOL, VTR, VTRS, VZ, W, WAB, WBA, WDC, WEC, WELL, WGMI, WHR, WING, WIX, WMB, WMG, WMS, WPM, WRB, WSM, WSO, WTW, WWD, XEL, XLB, XLF, XLI, XLP, XLRE, XLU, XLV, XME, XP, XRAY, XRX, XYL, YELP, YUM, ZBRA, ZION
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 – 2023-12-25
AAUC.TO, ABX.TO, ABXX.NE, ACO/X.TO, AD/UN.TO, ADEN.TO, AEM.TO, AGF/B.TO, AGI.TO, AKG.TO, ALA.TO, ALS.TO, AMC.TO, AMX.V, ARTG.V, ASE.CA, ASTL.TO, ATD.TO, ATD/A.TO, ATRL.TO, ATZ.TO, AX/UN.TO, BAM.TO, BBD/B.TO, BBU/UN.TO, BDGI.TO, BDI.TO, BEI/UN.TO, BEPC.TO, BGI/UN.TO, BHC.TO, BIP/UN.TO, BIPC.TO, BITF.TO, BK.TO, BK/PA.TO, BLDP.TO, BMO.TO, BNS.TO, BOS.TO, BPF/UN.TO, BTB/UN.TO, BTO.TO, BYD.TO, CAD.V, CAR/UN.TO, CAS.TO, CCL/B.TO, CEU.TO, CFP.TO, CG.TO, CGX.TO, CHP/UN.TO, CHR.TO, CIG.TO, CIGI.TO, CLS.TO, CM.TO, CNE.TO, CNR.TO, CP.TO, CPX.TO, CRON.TO, CRR/UN.TO, CRT/UN.TO, CS.TO, CSH/UN.TO, CSU.TO, CU.TO, CVS.NE, CXB.TO, D/UN.TO, DF.TO, DFN/PA.TO, DGHI.V, DHT/UN.TO, DII/B.TO, DIV.TO, DR.TO, DRM.TO, ECN.TO, ECO.TO, EFR.TO, EIF.TO, EMA.TO, ENB.TO, ENGH.TO, EQB.TO, EQX.TO, ERE/UN.TO, ERO.TO, ETHC.NE, ETHH.TO, ETL.V, EU.V, EVGN.V, FAR.TO, FC.TO, FCU.TO, FDR.V, FFH.TO, FFN/PA.TO, FIL.TO, FM.TO, FN.TO, FSV.TO, FSZ.TO, FVI.TO, GAU.TO, GEI.TO, GGD.TO, GIB/A.TO, GLO.TO, GLXY.TO, GOLD.TO, GOLD.V, GOOG.NE, GRA.TO, GSY.TO, GTII.CA, GUD.TO, GWO.TO, HDI.TO, HITI.V, HIVE.V, HLS.TO, HPS/A.TO, HR/UN.TO, HUT.TO, IAU.TO, IGM.TO, IIP/UN.TO, ILLM.TO, INE.TO, INTC.NE, IPCO.TO, JWEL.TO, K.TO, KMP/UN.TO, KNT.TO, KRR.TO, KSI.TO, L.TO, LB.TO, LBNK.V, LGO.TO, LGT/B.TO, LMN.V, LSPD.TO, LTH.V, LUG.TO, LUN.TO, MAG.TO, MDI.TO, MDP.TO, MEG.TO, MG.TO, MHYB.NE, MI/UN.TO, MMED.NE, MSFT.NE, MTL.TO, MTY.TO, MVRS.NE, MX.TO, NEXT.TO, NFI.TO, NGD.TO, NGEN.V, NGEX.V, NGT.TO, NPI.TO, NRR/UN.TO, NUAG.TO, NWC.TO, NWH/UN.TO, NXE.TO, NXR/UN.TO, OGC.TO, OIII.V, OR.TO, PAAS.TO, PAY.TO, PBH.TO, PHYS.TO, PIC/A.TO, PIF.TO, PINK.V, PKI.TO, PLC.TO, PMZ/UN.TO, PNE.TO, PNRL.V, PPL.TO, PRMW.TO, PRV/UN.TO, PSI.TO, PSU/U.TO, PTI/UN.TO, PZA.TO, QBR/B.TO, QSR.TO, RCH.TO, RECO.V, REI/UN.TO, RSI.TO, SBC.TO, SEA.TO, SES.TO, SGD.V, SGR/UN.TO, SIA.TO, SII.TO, SKE.TO, SLS.TO, SOY.TO, SPB.TO, SRU/UN.TO, SSL.TO, STEP.TO, STN.TO, SVI.TO, SVM.TO, SYZ.TO, TA.TO, TBL.TO, TCN.TO, TD.TO, TER.CA, TF.TO, TFII.TO, TGO.TO, THNC.TO, TIH.TO, TKO.TO, TLRY.TO, TNT/UN.TO, TOY.TO, TRI.TO, TRP.TO, TRZ.TO, TSL.TO, TSND.TO, TSU.TO, TWM.TO, TXG.TO, U/UN.TO, URC.TO, URE.TO, VGCX.TO, VNP.TO, VRNO.NE, VZLA.V, WCP.TO, WDO.TO, WED.V, WELL.TO, WFG.TO, WN.TO, WPK.TO, WPM.TO, WUC.CA, X.TO, XTC.TO, XTG.TO, YAK.V, ZEN.V
