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.
This is just a friendly reminder that it’s essential to monitor the Daily Setups and Workspace scan results, which can provide insights into potential future additions and help you stay ahead of the game.
If you’re having trouble understanding the Daily Setups or need help crafting a trading strategy, don’t hesitate to ask for assistance. You can email us 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
Equities Close Week on Strong Note Led by Cooling Inflation and Bank Earnings
Equity markets ended the week on a strong note, with major indices reaching new highs amid optimism over cooling inflation and upbeat earnings from leading banks. The Nasdaq Composite rose 0.3% on Friday, closing at 18,342 — its highest level since mid-July — and is now just 1.8% below its all-time peak. The S&P 500 gained 0.6%, while the Dow Jones Industrial Average climbed nearly 1% to 42,863, with both indices setting all-time highs. The Russell 2000 small-cap index surged 2% on Friday, ending the week up 1%, rebounding from a two-week slide. This marked the fifth consecutive weekly gain for the major indices, with the Dow advancing 1.2%, the S&P 500 rising 1.1%, and the Nasdaq also adding 1.1% for the week.
S&P 500 – Daily Chart
Nasdaq – Daily Chart
Dow Jones Industrial Average – Daily Chart
Russell 2000 (ETF) – Daily Chart
Strong earnings from financial heavyweights, including JPMorgan Chase (JPM) and Wells Fargo (WFC), boosted the financial sector, with both banks beating market expectations. The Producer Price Index (PPI) showed a year-over-year rise of 1.8% for September, slightly above forecasts, while core PPI — which excludes food and energy — increased by only 2%, significantly below the 2.7% predicted by economists. The data helped alleviate some inflationary fears, contributing to positive investor sentiment.
What Worked Last Week
The Red-Light/Green-Light Breadth System
U.S. Treasury yields continued their upward movement, with the 10-year Treasury yield reaching 4.1% — its highest since last year. Political uncertainty surrounding the upcoming U.S. presidential election and concerns over increased federal spending have been driving yields higher. This upward trend in yields is challenging the Federal Reserve’s recent efforts to ease monetary policy, as higher yields can counteract the effects of rate cuts. Analysts suggest that more aggressive rate cuts may be needed to stabilize the economy in the face of rising borrowing costs.
10-Year US Treasury Yield
The US Dollar closed at 102.68 this week, rising for the second consecutive week. The greenback has increased by 2.78% over the past two weeks, marking the most significant two-week gain since September 2022. Recent economic data has bolstered investor confidence in the dollar, leading to its upward momentum despite being off its record high. The dollar demonstrated resilience, with gains in eight of the past ten trading sessions. However, price action is now pushing into the underside of horizontal resistance. Next week should be telling.
US Dollar – Weekly Chart
In Canada, the S&P/TSX Composite Index continued its record-setting momentum, closing up 0.7% at 24,471.17 ahead of a long holiday weekend. The index marked its fifth consecutive weekly gain, climbing 1.3%. Gains were led by the financial sector, bolstered by positive U.S. bank earnings, while industrials and technology also performed well. Investors are increasingly optimistic about global monetary easing, expecting the Bank of Canada to increase the magnitude of rate cuts at its upcoming meetings.
TSX – Daily Chart
Oil prices ended a week marked by volatility with moderate gains. West Texas Intermediate (WTI) crude settled at $75.56 per barrel, posting a 1.6% gain for the week, while Brent crude closed at $79.04, up 1.3%. The Energy Information Administration (EIA) reported a larger-than-expected increase in crude inventories. It revised down its global demand growth estimate for next year to 1.3 million barrels per day from 1.5 million. Despite fluctuations caused by geopolitical tensions, including uncertainty over Israel’s potential response to recent missile attacks from Iran, oil managed to maintain positive momentum.
Crude Oil – Weekly Chart
Gold extended its rally, rising 0.3% for the week to settle at $2,676.30 per ounce, approaching its all-time high of $2,708.70. Speculation regarding future interest rate cuts by the Federal Reserve has driven investors to gold as a safe-haven asset. North American gold exchange-traded funds (ETFs), including SPDR Gold Shares (GLD), experienced consistent weekly inflows. GLD has seen a notable rise this year, gaining nearly 29% year-to-date, reflecting investor interest in protective assets amid ongoing market uncertainties. At the same time, the price action in silver continues to chop around below its breakout line.
Gold – Weekly Chart
Silver – Weekly Chart
Copper is set up as a potential bullish flag continuation pattern, with aluminum-related names appearing in the setups section of the report.
Copper – Daily Chart
The uranium theme is still bullish, with Cameco (CCJ) appearing in the report’s setup sections this weekend.
Uranium Theme – Global X Uranium ETF
Bitcoin is still consolidating below a potential breakout line, while MicroStrategy (MSTR) breaks out and other Bitcoin-related names appear in the scanner results and Unusual Activity report.
Bitcoin – Daily Chart
Next week, investors will be watching earnings reports from key players such as Netflix (NFLX), Taiwan Semiconductor Manufacturing (TSM), UnitedHealth Group (UNH), and Goldman Sachs (GS). These reports could significantly influence market sentiment and drive volatility. With many leading stocks flashing buy signals or setting up for potential breakouts, investors are encouraged to remain vigilant, especially as earnings season ramps up.
Overall, the equity markets displayed resilience this week, buoyed by positive earnings, easing inflation concerns, and optimism around global monetary policies. While major indices reached new highs, investor sentiment remains upbeat. However, risks such as rising Treasury yields, geopolitical tensions, and political uncertainty should not be overlooked. With many sectors, including technology, financials, and energy, showing signs of strength, a balanced approach with a mix of growth opportunities and defensive positions will be crucial for navigating potential market volatility in the coming weeks.
“Identify the trend and ride the momentum, but always keep your stops tight.” – William O’Neil
Now, onto the daily setups.
US Daily Setups
AA – Alcoa Corp.
Alcoa appears to be breaking out above horizontal resistance.
LINK TO CHART – https://schrts.co/keQpIMQE
IBB – iShares Nasdaq Biotechnology ETF
The iShares Nasdaq Biotechnology ETF appears to be setting up off the lower trendline or support line of its trading range.
LINK TO CHART – https://schrts.co/QwdEAFqS
KRE – SPDR S&P Regional Banking ETF
The SPDR S&P Regional Banking ETF is set up in the form of a potential continuation triangle.
LINK TO CHART – https://schrts.co/fUxavgRe
MP – MP Materials Corp.
MP Materials appears to be setting up on the right side of a bottoming pattern.
LINK TO CHART – https://schrts.co/MUmiQHKn
PCAR – PACCAR, Inc.
Paccar continues to push higher from the continuation wedge we have been monitoring.
LINK TO CHART – https://schrts.co/VGnRyyyZ
SOFI – SoFi Technologies, Inc.
Sofi continues to show upside momentum from its bottoming pattern.
LINK TO CHART – https://schrts.co/ihettAdP
USAP – Universal Stainless & Alloy Products, Inc.
Universal Stainless & Alloy Products appears to be set up as a multi-month continuation pennant, positioned just below new highs.
LINK TO CHART – https://schrts.co/atMKsuQy
XLF – Financial Select Sector SPDR Fund
The Financial Select Sector SPDR Fund is breaking out from a consolidation area to a new high as price action trends above its upward-sloping moving averages.
LINK TO CHART – https://schrts.co/jSXPziQu
Canadian Daily Setups
ADEN.TO – Adentra Inc.
Adentra appears to be setting up on the right side of a significant multi-month consolidation pattern, positioned just below its 52-week high.
LINK TO CHART – https://schrts.co/CJpJgadK
CCO.TO – Cameco Corp.
Cameco appears to be consolidating in the form of a potential bullish pennant continuation pattern.
LINK TO CHART – https://schrts.co/DsbKAkIH
CTS.TO – Converge Technology Solutions Corp.
Converge Technology Solutions continues consolidating below a significant horizontal resistance/trigger line.
LINK TO CHART – https://schrts.co/MUepfxXh
DV.V – Dolly Varden Silver Corp.
Dolly Varden Silver is attempting to move higher from the apex of a significant multi-month consolidation/continuation pattern.
LINK TO CHART – https://schrts.co/DmKmQWMq
GLXY.TO – Galaxy Digital Holdings Ltd.
Galaxy Digital appears to be setting up for a potential breakout to a new 52-week high.
LINK TO CHART – https://schrts.co/uVZayygb
LAAC.TO – Lithium Americas Argentina Corp.
Lithium Americas Argentina continues to move higher from its potential bottoming pattern.
LINK TO CHART – https://schrts.co/wcExVVfF
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 PDFs of Friday’s scan results 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 – 2024-10-13
A, AA, AAON, ABBNY, ABCB, ACA, ACIW, ACM, ADEA, ADI, ADSK, ADUS, AEYE, AFL, AFRM, AGM, AGX, AGYS, AIG, AIT, AIZ, AJG, ALKT, ALL, ALLE, ALNY, ALSN, AM, AMAL, AMCR, AMGN, AMP, AMRK, AMZN, ANET, ANF, AORT, APH, APO, APOG, APP, AR, ARE, ARES, ARGT, ARGX, ARIS, ARM, AROC, ATO, ATR, AVAV, AVY, AWI, AXON, AXP, AXS, AXTA, AYI, BABA, BAC, BAM, BAP, BBAR, BBVA, BBW, BCC, BCO, BCPC, BCS, BECN, BEKE, BHE, BITO, BITQ, BKU, BLK, BLND, BLOK, BMA, BPOP, BR, BRC, BRK/B, BRO, BSIG, BSX, BV, BX, BXP, BZUN, C, CACI, CADE, CAKE, CARG, CARR, CART, CASH, CASY, CAT, CAVA, CBRE, CBT, CCB, CCJ, CDRE, CEG, CENX, CFG, CHCO, CHRW, CIB, CINF, CLBT, CLH, CLMT, CLS, CLX, CM, CMI, CNK, CNO, CNX, CNXN, COF, COHR, COPX, CPAY, CPRX, CR, CRAI, CRBG, CRDO, CRH, CROX, CRVL, CRWD, CSL, CSTL, CSWI, CTAS, CVLG, CVLT, CW, CWAN, CZR, DAKT, DAL, DASH, DB, DCI, DCO, DECK, DEFTF, DFS, DHR, DKNG, DLR, DOCN, DOLE, DORM, DOV, DPZ, DRS, DSGX, DT, DTE, DTM, DVA, DXPE, DY, EAT, EGO, EGY, EHC, ELMD, EME, EMR, ENLC, ENVA, EPAC, EQBK, EQH, ERIE, ESAB, ESOA, ESQ, ET, ETN, ETR, EVR, EWBC, EXEL, EXLS, EXP, EXPO, FAST, FBP, FCNCA, FCX, FDIG, FG, FI, FICO, FIHL, FITB, FIX, FLEX, FLR, FLS, FN, FNF, FOUR, FRBA, FRPT, FSS, FSV, FTAI, FTDR, FULT, FUTU, FWONA, GBTC, GBX, GD, GDS, GE, GEHC, GENI, GGAL, GIL, GL, GLBE, GLD, GLNG, GLRE, GLW, GMED, GNRC, GPK, GRBK, GS, GTES, GVA, GWRE, GWW, GXO, HASI, HAYW, HBAN, HCA, HEAR, HEI, HERO, HESM, HIG, HLI, HLNE, HLT, HNI, HOOD, HPQ, HQY, HROW, HTBI, HTLF, HUBB, HWC, HWKN, HWM, IBB, IBCP, IBKR, IBOC, ICE, IDCC, IESC, IGIC, IIPR, INCY, INFL, INFY, INOD, INSM, IP, IR, IRM, ITA, ITCI, ITGR, ITRI, ITT, IWM, J, JCI, JD, JEF, JETS, JHG, JKHY, JLL, JPM, JXN, KAI, KARO, KBE, KEX, KEY, KEYS, KIM, KKR, KLAC, KMI, KNF, KNSL, KNTK, KNTNF, KRE, KTOS, KVYO, KWEB, LAZ, LDOS, LEU, LGND, LHX, LII, LIN, LLY, LMAT, LMB, LMT, LNC, LNTH, LOB, LOW, LPLA, LQDT, LTH, LUV, LVS, LYV, MA, MAR, MATX, MBC, MBWM, MC, MCB, MCO, MELI, MET, META, METV, MFC, MG, MHO, MLI, MLM, MLR, MMM, MNDY, MOD, MOG/A, MORN, MP, MPLX, MPWR, MS, MSCI, MSI, MSTR, MTB, MTCH, MTG, MTSI, MWA, NBN, NCLH, NECB, NEE, NEM, NET, NIC, NPO, NRG, NSC, NTAP, NTB, NTRA, NTRS, NVMI, NVS, NVT, OC, OFG, OII, OKE, OLED, OLLI, OMC, ONTO, OR, ORLY, ORRF, OSIS, OSPN, OTIS, OWL, PAM, PANW, PBA, PCAR, PCT, PDD, PFBC, PFG, PGR, PH, PHG, PIPR, PJT, PKG, PL, PLMR, PNC, PNR, PNTG, PODD, POWL, PRI, PRIM, PRK, PRMW, PRU, PSN, PTGX, PWP, PWR, PYPL, QCRH, QFIN, RACE, RCL, RDNT, REVG, RF, RGA, RGLD, RH, RJF, RKLB, RL, RMD, ROAD, ROL, RPM, RSI, RSP, RTX, RUSHA, RYAN, RYN, RYTM, SAP, SBUX, SCCO, SCHW, SE, SEZL, SF, SFM, SHOO, SKWD, SKYW, SLM, SLV, SMH, SMR, SNEX, SO, SOFI, SPFI, SPG, SPGI, SPHR, SPNS, SPXC, SSD, SSNC, STLD, STN, STRL, STX, SWK, SYF, TBBK, TCBX, TCOM, TDG, TDS, TEL, TER, TFC, TFPM, TGLS, TGT, TIGO, TILE, TME, TPG, TPL, TPR, TRGP, TRMB, TRN, TRV, TSAT, TSCO, TSM, TT, TTD, TTEK, TTMI, TXN, TXRH, TYL, TZOO, UAL, UBER, UBS, UMBF, UNM, UPST, URA, URI, USAP, USB, USFD, USLM, UTHR, VBNK, VCTR, VCYT, VERX, VIRT, VITL, VLTO, VNOM, VRRM, VRT, VRTX, VSEC, VST, VTR, WAB, WAL, WAT, WELL, WES, WFC, WING, WLDN, WLY, WMB, WRB, WSO, WTFC, WYNN, XBI, XHB, XLF, XLI, XLRE, XME, XPH, XRT, XYL, YMM, YOU, YPF, Z, ZBRA, ZETA, ZG, ZIM, ZTO, ZWS
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 – 2024-10-13
AAUC.TO, ABRA.V, ACB.TO, ACO/X.TO, ACX.TO, AD/UN.TO, ADEN.TO, AEM.TO, AEP.V, AFN.TO, AGF/B.TO, AGI.TO, AI.TO, AIF.TO, AKT/A.TO, ALA.TO, ALS.TO, ALYA.TO, AMD.NE, AMZN.NE, APM.V, ARCH.V, ARE.TO, ARTG.V, ASE.CA, ASTL.TO, ATH.TO, ATRL.TO, ATS.TO, ATX.V, AW/UN.TO, AX/UN.TO, AYA.TO, AYR/A.CA, BAM.TO, BB.TO, BDGI.TO, BEPC.TO, BIP/UN.TO, BIPC.TO, BMO.TO, BN.TO, BNS.TO, BPF/UN.TO, BRK.NE, BTB/UN.TO, BTO.TO, CAE.TO, CAS.TO, CCA.TO, CCL/B.TO, CCO.TO, CEF.TO, CEU.TO, CFP.TO, CFW.TO, CG.TO, CGY.TO, CIA.TO, CIG.TO, CIGI.TO, CIX.TO, CJ.TO, CJP.NE, CJT.TO, CLS.TO, CM.TO, CMG.TO, CNQ.TO, CNX.V, CP.TO, CPH.TO, CPX.TO, CRON.TO, CSU.TO, CTC/A.TO, CTF/UN.TO, CTS.TO, CU.TO, CURA.TO, CWB.TO, CXB.TO, DBM.TO, DC/A.TO, DE.V, DEFI.NE, DF.TO, DFN.TO, DFY.TO, DGS.TO, DIS.NE, DIV.TO, DML.TO, DNTL.TO, DOL.TO, DR.TO, DSG.TO, DV.V, E.TO, ECN.TO, EDV.TO, EFN.TO, EFR.TO, EFX.TO, EIF.TO, EIT/UN.TO, ELD.TO, ELE.V, EMP/A.TO, EMX.V, ENB.TO, ENS.TO, EQB.TO, EQX.TO, ERE/UN.TO, ERO.TO, ESI.TO, ET.TO, ETHH.TO, EU.V, FC.TO, FDR.V, FEC.TO, FFH.TO, FFN.TO, FIL.TO, FM.TO, FN.TO, FNV.TO, FOM.TO, FRU.TO, FSV.TO, FSZ.TO, FTG.TO, FTN.TO, FTT.TO, FVI.TO, GASX.V, GCL.TO, GDV.TO, GEI.TO, GEO.TO, GFL.TO, GGD.TO, GIB/A.TO, GIL.TO, GLXY.TO, GMIN.TO, GOLD.TO, GOOG.NE, GRA.TO, GSY.TO, GTE.TO, GWO.TO, HAI.TO, HBM.TO, HITI.V, HIVE.V, HMR.V, HPS/A.TO, HUT.TO, IAG.TO, IAU.TO, IFC.TO, IFP.TO, IGM.TO, ILLM.TO, IPCO.TO, ISO.TO, JPM.NE, KEC.TO, KEL.TO, KLD.V, KNT.TO, KRY.V, KTN.V, L.TO, LAAC.TO, LAC.TO, LB.TO, LBS.TO, LCS.TO, LFE.TO, LGO.TO, LI.V, LIF.TO, LLY.NE, LRA.V, LUN.TO, MAL.TO, MAU.V, MAW.V, MDA.TO, MDNA.TO, META.NE, MFC.TO, MFL.V, MKO.V, MKP.TO, MRE.TO, MRU.TO, MTA.V, MTL.TO, MUX.TO, MVRS.NE, NA.TO, NEO.TO, NFI.TO, NGD.TO, NGT.TO, NICU.V, NOA.TO, NTR.TO, NVA.TO, NVEI.TO, NWC.TO, NXE.TO, NXR/UN.TO, OGC.TO, OGI.TO, OGN.V, OLA.TO, OR.TO, OTEX.TO, OVV.TO, PBH.TO, PET.TO, PEY.TO, PHX.TO, PHYS.TO, PIC/A.TO, PIF.TO, PKI.TO, PLZ/UN.TO, PNE.TO, POW.TO, PPL.TO, PPTA.TO, PRB.TO, PRL.TO, PRMW.TO, PRU.TO, PRV/UN.TO, PRYM.TO, PSK.TO, PSLV.TO, PZA.TO, QBR/B.TO, QIPT.TO, QSR.TO, QTWO.V, RCK.V, RUP.TO, RUS.TO, RY.TO, SBC.TO, SDE.TO, SES.TO, SGD.V, SHLE.TO, SHOP.TO, SIA.TO, SIS.TO, SJ.TO, SKE.TO, SLF.TO, SLI.V, SOIL.TO, SOY.TO, SSL.TO, SSRM.TO, STLR.TO, STN.TO, SVM.TO, SWP.TO, T.TO, TA.TO, TECK/B.TO, TF.TO, TFPM.TO, TIH.TO, TIXT.TO, TKO.TO, TNZ.TO, TOT.TO, TOU.TO, TOY.TO, TPZ.TO, TRI.TO, TRP.TO, TSU.TO, TUO.V, TVE.TO, TVK.TO, TXG.TO, U/UN.TO, UBER.NE, URC.TO, VBNK.TO, VET.TO, VGZ.TO, VLN.TO, VZLA.V, WCN.TO, WCP.TO, WED.V, WELL.TO, WEX.V, WFG.TO, WJX.TO, WN.TO, WPK.TO, WSP.TO, WTE.TO
