SYS Research – Weekend Report – October 5, 2024

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

Oil Prices Surge Amid Middle East Tensions, Strong U.S. Jobs Data Boosts Global Markets

The stock market ended the week positively, buoyed by a strong U.S. jobs report that eased fears of an economic slowdown and drove major indices higher. Oil prices climbed further as geopolitical tensions in the Middle East raised concerns about supply disruptions, but OPEC+ spare capacity provides a potential cushion against severe shortages.

In September, the U.S. economy added 254,000 nonfarm jobs, nearly double the expected 132,500, driving gains across major stock indices. The Nasdaq Composite rose 1.2%, while the S&P 500 and Dow Jones Industrial Average gained 0.9% and 0.8%, respectively. The Russell 2000, a benchmark for small-cap stocks, led with a 1.5% increase.

Nasdaq – Weekly Chart

S&P 500 – Weekly Chart

Dow Jones Industrial Average – Weekly Chart

Russell 2000 (ETF) – Weekly Chart

While housing stocks like D.R. Horton, Lennar, and PulteGroup fell amid concerns over rising rates, energy stocks surged on the back of higher oil prices. Exxon Mobil climbed 1.8% to an all-time high as West Texas Intermediate crude posted its biggest weekly gain since March 2023. Additionally, Reddit saw its stock break out, gaining 7.28% after clearing our setup trigger line, while other growth stocks like Shopify and Semiconductors flashed technical signals.

West Texas Intermediate (WTI) crude oil rose 0.9% to settle at $74.38 per barrel, while Brent crude ended the day at $78.05, up 0.55%. Market worries have intensified following Iran’s missile strike on Israel and the possibility of retaliatory action by Israel targeting Iran’s oil infrastructure. Any damage to Iran’s production capacity could lead to a global scramble to replace lost barrels, causing near-term volatility in oil prices. However, OPEC+ has a spare capacity of 5.8 million barrels per day, enough to compensate for Iran’s output of 1.7 million barrels, according to analysts.

While OPEC+ is already preparing to lift production by 180,000 barrels per day in December, replacing lost supply won’t be immediate. Analysts warn that ramping up production is not as simple as “flipping a switch,” especially amid war-ravaged supply chains. Some expect Israel, if it retaliates, to focus on Iranian refineries rather than oil fields, which might limit global disruptions but still lead to price spikes.

Crude Oil – Weekly Chart

The U.S. dollar hit a seven-week high after the robust U.S. jobs report reduced expectations for a large interest rate cut by the Federal Reserve. The dollar index, which measures the currency against a basket of six major counterparts, rose 0.52% to 102.28. The euro dropped 0.5% to $1.0976, while the dollar surged 1.25% against the yen to 148.77.

US Dollar – Weekly Chart

Treasury yields also rose, with the benchmark 10-year note reaching 3.981%, and the 30-year bond yield climbing 7.9 basis points to 4.259%. The 2-year note yield, which closely tracks interest rate expectations, jumped 21.8 basis points to 3.932%, signaling a market recalibration of the Federal Reserve’s rate-cut trajectory.

10-Year US Treasury Yield

Canada’s TSX composite index closed at a record high of 24,162.83, rising 0.8% on Friday, as strong U.S. jobs data and rising oil prices bolstered commodity-linked stocks. The index posted a 0.9% gain for the week, its fourth straight weekly advance, supported by gains in the energy and financials sectors. Energy stocks on the TSX surged 1.3% on Friday, capping off an 8.5% weekly increase, the largest since October 2022.

Technology stocks also performed well, with Shopify Inc. rising 5.6%, helping the sector climb 2% overall. Analysts expect investors to continue rotating into cyclical sectors like energy and financials, representing 63% of the TSX’s weighting. Oil prices, up 9% for the week, will likely remain a key driver for the TSX as geopolitical tensions persist in the Middle East.

TSX – Weekly Chart

Gold prices declined after the strong U.S. jobs report dampened market expectations for further significant rate cuts. Spot gold slipped 0.23% to $2,649.89 per ounce, while U.S. gold futures fell 0.38% to $2,647.10. Rising bond yields and a stronger U.S. dollar exerted additional pressure on precious metals, which are traditionally viewed as safe havens during periods of economic uncertainty.

Gold – Weekly Chart

Meanwhile, Silver continues to show a bullish setup, although it may follow the same downward trajectory as gold. Unusual option activity was observed in the SLV ETF on Friday, as highlighted in the Unusual Activity report.

Silver – Weekly Chart

In other commodities, Copper prices faced resistance at a key horizontal level, though they remain supported above the 21-day exponential moving average. The Uranium sector also had a bullish week, with Cameco shares surging higher on Friday after being featured multiple times in the daily setups report.

Copper – Daily Chart

Uranium Theme – Global X Uranium ETF

Bitcoin’s price action remains constrained below its breakout line, though several Bitcoin-related stocks remain prominently in the daily setup reports.

Bitcoin – Daily Chart

The market is navigating a complex environment, balancing the impact of strong economic data with ongoing geopolitical concerns, particularly those related to rising tensions in the Middle East. Oil prices are likely to remain unstable as traders watch for potential supply disruptions. At the same time, the solid U.S. jobs report signals continued strength in the economy, although the upward pressure on bond yields could dampen some of the market’s momentum.

Even with some negative headlines, the stock rally has managed to hold its ground, maintaining crucial levels of support. The broader economic outlook remains constructive, supported by moderate growth and Federal Reserve interest rate cuts. It is essential for market participants to remain agile, prepared to make adjustments—whether entering positions or exiting when necessary. Focusing on key watchlist opportunities, identifying buy signals, and monitoring for pullbacks will remain critical for spotting value. Despite the noise from outside factors, opportunities still arise through careful analysis of scanner results and other indicators.

A measured approach is crucial in an environment shaped by solid economic data and external risks. While the labor market continues to show strength, other factors—such as rising yields and geopolitical instability—require close attention. Traders and investors should continue refining their strategies, ensuring they remain flexible and responsive to market shifts. By prioritizing key technical signals and maintaining a disciplined approach, there are still ample opportunities to take advantage, even amid potential uncertainty.

“Momentum can make you feel invincible, but managing risk keeps you grounded.” – Alexander Elder

Now, onto the daily setups.

US Daily Setups

AMD – Advanced Micro Devices, Inc.

AMD is set up for a potential wedge breakout.

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

 

AMSC – American Superconductor Corp.

American Superconductor appears to be setting up below a significant horizontal resistance line and the upper trendline of its continuation pattern.

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

 

ASTS – AST SpaceMobile, Inc.

AST SpaceMobile appears to be set up as a potential continuation wedge or a large bullish flag continuation pattern.

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

 

CART – Maplebear Inc.

Maplebear appears to be set up in the form of a potential bullish flag retest of its recent breakout line.

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

 

CORZ – Core Scientific Inc.

Core Scientific appears to be set up in the form of a potential bullish flag retest of its recent breakout line.

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

 

MSTR – MicroStrategy Inc.

MicroStrategy appears to be set up on the right side of the significant multi-month consolidation/continuation pattern that we’ve been highlighting, positioned just below its all-time highs.

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

 

NVDA – NVIDIA Corp.

Nvidia appears to be set up for a potential continuation triangle breakout.

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

 

OKLO – Oklo Inc.

Oklo is finally surging past the key horizontal resistance line we have highlighted.

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

 

PLL – Piedmont Lithium Limited

Piedmont Lithium appears to be set up for a potential bottoming pattern breakout as price action begins to push above a significant downtrend line.

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

 

SMH – VanEck Vectors Semiconductor ETF

The VanEck Vectors Semiconductor ETF appears to be set up for a potential breakout above horizontal resistance.

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

 

SOFI – SoFi Technologies, Inc.

SoFi continues to see positive price action as it attempts to break out from the bottoming pattern we recently highlighted.

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

 

USO – United States Oil Fund, LP

The United States Oil Fund appears to be moving higher from the lower trendline of a significant multi-year consolidation/continuation pattern, with the weekly PPO positioned at the zero line. Monitor for continuation and upside momentum, potentially leading to a breakout.

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

 

XLE – Energy Select Sector SPDR Fund

The Energy Select Sector SPDR Fund and many oil names continue to see upside momentum. Monitor for price movement in the USO ETF, highlighted above, as it may help identify a continued directional move in energy stocks.

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

 

Canadian Daily Setups

ATS.TO – ATS Corporation

ATS is set up for a potential bottoming pattern breakout as the PPO momentum indicator accelerates above the zero line.

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

 

CEU.TO – CES Energy Solutions Corp.

CES Energy is attempting to move higher from a continuation pattern.

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

 

CLS.TO – Celestica, Inc.

Celestica is set up for a potential breakout above a horizontal resistance line.

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

 

CXB.TO – Calibre Mining Corp.

Calibre Mining is set up as a potential bullish flag continuation pattern.

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

 

LAC.TO – Lithium Americas Corp.

Lithium Americas is set up in the form of a potential bottoming pattern.

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

 

LUN.TO – Lundin Mining Corp.

Lundin Mining is set up for a potential breakout above horizontal resistance. However, take note of a large volume-by-price bar located above, which may indicate another level of horizontal resistance. Monitor to see if price action can continue to trend above its upward-sloping moving average.

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

 

PRL.TO – Propel Holdings Inc.

Propel is set up for a potential all-time high breakout, supported by strong volume.

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

 

PTK.V – POET Technologies Inc.

POET Technologies is set up in the form of a potential bullish flag continuation pattern.

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

 

QTRH.TO – Quarterhill Inc.

Quarterhill is pushing up against a level of horizontal resistance. Monitor for any potential breakout signals, as this recent move is supported by strong volume and the PPO momentum indicator is accelerating above the zero line.

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

 

SHOP.TO – Shopify Inc.

Shopify appears to be breaking out above horizontal resistance and from a bullish flag continuation pattern, with price action consolidating above its upward-sloping moving average, in line with system rules.

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

 

VHI.TO – VitalHub Corp.

VitalHub is attempting to move higher from a bullish flag continuation pattern, positioned just below a new high.

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

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 – 2024-10-05

TIGR, APOG, PLL, OKLO, NISN, NNE, BZUN, ASTS, TVTX, AMSC, SERV, IREN, MMYT, ASPN, SMR, BYRN, ANF, MNSO, AAOI, GCT, MSTR, DAVE, AEYE, CLMT, RDDT, SOFI, AUR, LUNR, DECK, KGS, VNET, HQY, RKLB, TCOM, PLMR, DEFTF, ALKT, COF, BBW, ULH, CRDO, GDS, BGNE, JD, SKWD, SHAK, AIG, CAKE, S, EAT, FTAI, OSCR, AMD, COLL, USAP, CRBG, FCNCA, JXN, POWL, CLBT, CLS, EBS, AGX, TW, LEU, LNC, DOLE, VST, FRPT, CUK, TLN, GEV, WGMI, FUTU, DELL, EZPW, ONON, IOT, UPWK, CCL, TSLA, QFIN, ZETA, SNOW, DAL, UNM, CPAY, OWL, CRS, PJT, CCJ, LOAR, ACIW, FN, BCS, ADMA, DRS, ABNB, RCL, DKS, WFC, BV, JPM, VNOM, FXI, SAH, PRU, JHG, MET, SLM, AVAV, BZ, CDRE, MC, PRIM, DKNG, GLRE, JETS, TBBK, AXS, XPEV, BLX, CSTL, APP, KWEB, BWIN, MAMA, TOST, MS, EQH, QCRH, AROC, HIMS, DB, CASH, IGIC, LPLA, NOW, PIPR, APO, AXP, LTH, CSWI, AYI, WMB, CEG, PENN, FLEX, NVT, BITQ, CROX, SHOO, AZZ, NTRA, BLOK, UAA, PCT, AVGO, MCY, RYAN, ENVA, MOD, TPG, FBP, PWP, TBBB, ITGR, CENX, FOUR, VSEC, AMAL, NSIT, ACA, EPAC, ADEA, CRAI, AMZN, AA, LGND, MP, HUT, MAG, GBX, H, BECN, PWR, VRT, EWBC, LUV, SKT, FG, RGA, ORCL, PPC, WRB, VCTR, VITL, FIHL, SPXC, WYNN, BHE, SCCO, SNEX, GBTC, GFL, HWC, META, COPX, PRI, BITO, DY, AFRM, URA, IR, CIEN, GVA, ATAT, CART, CINF, STRL, BAC, HNI, TGT, MWA, C, BMI, ZM, ARES, PCAR, RNR, IBKR, SQ, MFC, HEAR, KARO, PEGA, MAR, HOOD, KRE, BKNG, BBVA, FIX, ALSN, WAL, DT, CVNA, BRK/B, CADE, HASI, SKYW, TRN, MTSI, PLTR, AGM, IESC, RL, KNSL, WTFC, AORT, DASH, GEN, MBIN, ZTO, BILI, PANW, ATI, FLR, NWPX, WHD, CPNG, CR, ETN, GS, PFBC, UBER, XOM, ABCB, KBE, KEX, NFLX, KKR, KRNT, IGV, ACGL, FTDR, HTLF, TXRH, USLM, LOB, BURL, AER, GE, OLED, GEHC, KNTNF, INFY, KNTK, SNX, HWKN, RDN, XLF, NVDA, SFM, ULS, ARM, CNO, CPA, MG, UMBF, UTHR, HCI, KLAC, LYV, WLY, EMR, BK, SPNS, TPR, WAB, AXON, CVLT, HLNE, TRGP, AGYS, STEP, TTMI, EXEL, VRNS, ALTR, CHKP, DTM, GM, MTG, HLI, KVYO, AMP, CDNA, CRVL, CAT, OLLI, AFL, HTGC, RSI, TORXF, COKE, HSBC, ROAD, ANET, BABA, CAH, RDNT, CSL, ESAB, ALL, BRC, DSGX, L, PAM, CCB, METV, IMMR, CBT, CZR, EVR, FTI, VBNK, IWM, RBA, SPB, EBAY, GPI, MPWR, OII, TTD, DOCU, GNRC, GSHD, KAI, CWAN, PL, BCO, IMO, SNCR, CAVA, ERIE, FTNT, SMH, XLY, FRHC, GOLD, JEF, XME, BAP, ITRI, TPB, VGT, HWM, SLB, RPM, HROW, TRV, AJG, GDDY, ORRF, BIPC, HIG, HLT, PGR, KMPR, ONTO, BCSF, MLI, AMAT, NPO, QQQ, QSR, LVS, SF, ARIS, FLUT, KMI, BL, BXP, ITT, LMND, LNTH, PHG, ACM, BIDU, CNXN, COHR, CRC, FI, TPL, ERO, XLC, XLK, FIS, HPQ, IWF, UNIT, PDD, BMA, GTES, IT, PATK, SBUX, TSCO, CATX, DOCS, MSGE, GWRE, ATR, NIO, AKAM, BJ, DVA, MOG/A, LQDT, RTX, NTAP, BRO, ADSK, CF, ITA, LBRDK, LMAT, CARR, EME, EXPO, FLS, TSM, CGBD, DXPE, XLE, REVG, CSWC, INFL, SPY, CLH, HUBB, WES, AM, FWONA, GMED, ICFI, SE, TRMB, PRMW, CORT, DFIN, BSX, NTES, BWA, TDG, FFIV, CARG, MTCH, VIRT, SPHR, USO, GOOG, J, CTSH, LII, NYT, RSP, MAIN, ARLP, BCPC, LDOS, PSN, UBS, BAM, CNQ, CPRI, GOOGL, CB, HAS, PLNT, HG, PAAS, PH, XLI, XOP, ASTH, MORN, ZWS, DCI, LNG, AWI, AXTA, IONQ, EGY, KNF, VLTO, RYN, WMT, ESOA, DAKT, IDT, NMIH, SN, CPRX, TKO, MNDY, ROKU, PBA, MA, OKE, AIZ, SRUUF, SSD, OSIS, USFD, BCC, CRH, AAPL, GILD, EXE, KR, ORLY, XLB, AAON, BX, ISRG, GIL, CYBR, SLV, HEI, MBC, SIL, ABBNY, AIT, GWW, V, TT, BBAR, MMM, VEL, GD, PNR, HESM, DCO, WLDN, A, TTEK, ACN, CNX, D, MSI, NEM, GDXJ, MLR, CCAP, SSNC, WING, EPD, SEIC, ADP, SAP, BR, CTAS, GGAL, FCN, ARGT, CHWY, CBOE, TMUS, CMS, SWK, SRE, CME, PTGX, TGLS, LSPD, URI, STN

 

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 – 2024-10-05

AAPL.NE, ABRA.V, ABX.TO, ABXX.NE, AC.TO, ACO/X.TO, AD/UN.TO, AFM.V, AG.TO, AGF/B.TO, ALA.TO, ALDE.V, AMD.NE, AMZN.NE, AP/UN.TO, ARE.TO, ARG.TO, ARX.TO, ASM.TO, ASTL.TO, ATH.TO, ATRL.TO, ATS.TO, ATX.V, ATZ.TO, AVGO.NE, AX/UN.TO, AYA.TO, BAM.TO, BBD/B.TO, BBU/UN.TO, BDT.TO, BEP/UN.TO, BEPC.TO, BHC.TO, BIP/UN.TO, BIPC.TO, BLN.TO, BMO.TO, BN.TO, BNS.TO, BRK.NE, BTB/UN.TO, BTE.TO, BTO.TO, CAE.TO, CCO.TO, CEF.TO, CEU.TO, CF.TO, CHR.TO, CIX.TO, CJ.TO, CJT.TO, CLS.TO, CMG.TO, CNQ.TO, CPX.TO, CRM.NE, CS.TO, CVE.TO, CVS.NE, CWB.TO, CXB.TO, DCBO.TO, DEFI.NE, DF.TO, DFN.TO, DFY.TO, DGS.TO, DHT/UN.TO, DIV.TO, DML.TO, DOL.TO, DPM.TO, DSG.TO, E.TO, ECN.TO, ECO.TO, EFR.TO, EFX.TO, EIF.TO, EIT/UN.TO, ENB.TO, ENS.TO, EQB.TO, ERO.TO, ET.TO, EU.V, FC.TO, FDR.V, FFH.TO, FFN/PA.TO, FIL.TO, FM.TO, FN.TO, FOM.TO, FRU.TO, FSZ.TO, FTN.TO, FVI.TO, FWZ.V, GASX.V, GEI.TO, GFL.TO, GGD.TO, GIL.TO, GLO.TO, GLXY.TO, GMIN.TO, GOLD.TO, GOOG.NE, GOT.V, GWO.TO, HBM.TO, HITI.V, HIVE.V, HME.V, HMM/A.TO, HMR.V, HPS/A.TO, HUT.TO, HWX.TO, IAG.TO, IAU.TO, IGM.TO, IMO.TO, IVN.TO, JPM.NE, JWEL.TO, KEL.TO, KEY.TO, KNT.TO, KPT.TO, KRY.V, KTN.V, KXS.TO, LAC.TO, LB.TO, LBS.TO, LCS.TO, LFE.TO, LNF.TO, LSPD.TO, LUG.TO, LUN.TO, MAG.TO, MAU.V, MAW.V, MDA.TO, MDNA.TO, MEG.TO, META.NE, MFC.TO, MFL.V, MKP.TO, MSA.TO, MTL.TO, MTY.TO, MVRS.NE, MX.TO, NA.TO, NFLX.NE, NGEX.TO, NGT.TO, NNRG.NE, NOWS.NE, NUAG.TO, NVDA.NE, NVEI.TO, NXE.TO, NXR/UN.TO, OBE.TO, OGC.TO, OLA.TO, ONC.TO, ONEX.TO, ORA.TO, OTEX.TO, OVV.TO, PAAS.TO, PNE.TO, POW.TO, PPL.TO, PRB.TO, PRL.TO, PRMW.TO, PRYM.TO, PSI.TO, PSK.TO, PSLV.TO, PTK.V, PXT.TO, PYPL.NE, PZA.TO, QSR.TO, QTRH.TO, QTWO.V, RBA.TO, REG.V, RET/A.V, RSI.TO, RUP.TO, RUS.TO, SES.TO, SGD.V, SHOP.TO, SIL.TO, SJ.TO, SKE.TO, SLF.TO, SLI.V, STLC.TO, STN.TO, SU.TO, SVM.TO, TA.TO, TD.TO, TECK/B.TO, TF.TO, TFII.TO, TGH.V, TKO.TO, TOU.TO, TOY.TO, TRP.TO, TRUL.CA, TSLA.NE, TSU.TO, TUD.V, TVE.TO, TVK.TO, TXG.TO, U/U.TO, U/UN.TO, UBER.NE, URC.TO, VHI.TO, VNP.TO, WCP.TO, WJX.TO, WRN.TO, WSP.TO, WTE.TO, X.TO, XOM.NE, ZDC.V

 

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