Notice: The Weekend Report is provided for informational and educational purposes only and is not intended to be used as a stock-picking service or as financial advice. The charts and accompanying research are designed to support your analysis, serving as indicators rather than direct recommendations to buy or sell any security. The creator assumes no responsibility for actions taken by readers and strongly encourages individuals to fully understand the associated risks and potential outcomes before making investment decisions. Please note that any charts and/or information are intended to aid in research and should not be considered a definitive part of your personal trading strategy. Not all charts will lead to actionable buy or sell signals at any given time. Individuals should consider consulting a qualified financial advisor before making any investment decisions.
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
New Year’s Market Hours, Economic Data, and Crypto Optimism as 2024 Ends
It will be another holiday-shortened week as a strong 2024 comes to a close. Stock and bond markets will be closed on Wednesday for New Year’s Day. Investors are poised for key data releases and events that may shape early 2025 market movements, including economic indicators like pending home sales, the S&P Case-Shiller home price index, construction spending, and the ISM Manufacturing Index.
The Nasdaq Composite, the only major index with a monthly gain, has risen 31.4% year-to-date, reflecting resilience despite sharp sell-offs in Big Tech on Friday. Meanwhile, the Santa Claus rally, which historically bolsters equities in the final trading days of December and the first two of January, has struggled to gain traction. Tesla, Nvidia, and other tech giants faced declines, contributing to mixed sentiment across sectors as the market remains on edge. The incoming administration’s policies on tariffs, trade, and immigration introduce additional uncertainty, creating headwinds for the rally.
In the cryptocurrency space, optimism remains high as Bitcoin broke above $100,000 earlier this month, with Ethereum following suit. Market participants are hopeful that the incoming Trump administration will deliver a crypto-friendly regulatory environment, reducing pressure on digital assets and fostering innovation. However, both Bitcoin and Ethereum are showing signs of waning momentum, trading below key moving averages, which could signal a pause or consolidation in their recent rallies.
The stock market experienced notable declines on Friday, December 27, 2024, eroding gains accumulated earlier in the week. The Nasdaq Composite dropped 1.5%, though it managed to close above its 21-day exponential moving average, securing a weekly increase of 0.8% and a substantial year-to-date rise of 31.4%. Similarly, the S&P 500 fell 1.1% but found support at its 50-day or 10-week moving average, ending the week up 0.7% and achieving a 25.2% gain for the year. The Dow Jones Industrial Average declined 0.8% on Friday, with a modest weekly uptick; however, it remains down 4.3% for December and below its 50-day or 10-week moving average. The Russell 2000 shed 1.6%, maintaining a position above its 200-day or 40-week moving average but lagging behind other key benchmarks.
Nasdaq – Weekly Chart
S&P 500 – Weekly Chart
Dow Jones Industrial Average – Weekly Chart
Russell 2000 (ETF) – Weekly Chart
What Worked Last Week
Despite Friday’s downturn, specific sectors demonstrated resilience. The Energy Select Sector SPDR ETF (XLE) posted a weekly gain of 0.5%, while the Health Care Select Sector SPDR Fund (XLV) advanced 0.7%. Notably, Tesla (TSLA) rose 2.5% over the week, despite a 5% drop on Friday, maintaining a year-to-date increase of nearly 74%. Additionally, Nvidia (NVDA) recorded a weekly gain of 1.8%, although it retreated below key moving averages by week’s end.
The Red-Light/Green-Light Breadth System
Market breadth indicators reflected a bearish tilt, with decliners outnumbering advancers by more than 4-to-1 on the NYSE and nearly 3-to-1 on the Nasdaq. Increased trading volume contributed to additional distribution days for both the Nasdaq and S&P 500, signaling heightened selling pressure.
10-Year US Treasury Yield
The 10-year Treasury yield increased by 10 basis points to 4.62%, marking its highest level since early May. This rise reflects the market questioning the shifts in monetary policy and economic conditions despite what comes out of the Federal Reserve’s mouth.
US Dollar – Weekly Chart
The US Dollar experienced a slight increase to close the week.
Crude Oil – Weekly Chart
Crude oil prices saw an uptick, with the United States Oil Fund (USO) rising 1.6% to $73.85 as the price action in WTI attempts to curl higher from the lower trendline of its pattern.
TSX – Weekly Chart
The TSX Composite Index declined by 0.20% on Friday, closing at 24,796.40. Despite this dip, the index has achieved an 18.1% gain year-to-date, positioning it for its best annual performance since 2021. The Canadian market has benefited from policy easing and a rally following Donald Trump’s election victory in November. However, concerns loom over the potential 25% tariffs on Canadian imports proposed by the incoming administration, which could impact sectors heavily reliant on exports to the United States.
Copper – Weekly Chart
The United States Copper Index Fund (CPER) closed at $25.79, a slight decrease of 0.43% from the previous close. This modest decline reflects ongoing fluctuations in industrial demand and global economic activity. Meanwhile, the price action in copper continues to consolidate within its wedge pattern.
Gold – Weekly Chart
Gold prices, tracked by the SPDR Gold Shares ETF (GLD), fell 0.68% to $241.40. The decline may be linked to rising bond yields and a stronger dollar, which typically dampens demand for the precious metal. When looking at the weekly gold chart, price action is consolidating in a flagging pattern above a potential support line.
Silver – Weekly Chart
Silver mirrored gold’s movement, with the iShares Silver Trust (SLV) dropping 1.36% to $26.76. Similar factors affecting gold are influencing silver’s performance alongside its industrial applications.
Bitcoin – Daily Chart
Bitcoin has fallen back below $100,000 as it challenges its 50-day or 10-week moving average. Price action shows little urgency, with Bitcoin remaining trapped below key moving averages critical for identifying momentum on shorter time frames. Ethereum is in a similar position, exhibiting comparable behavior below its own key moving averages. This is a moment to observe and react to evolving market conditions rather than relying on speculation or arbitrary predictions.
Ethereum – Weekly Chart
“The first step to making money is ensuring you don’t lose it. Always set a stop.” – William O’Neil
Now, onto the daily setups.
US Daily Setups
AEHR – Aehr Test Systems
Aehr Test Systems appears to be setting up on the right side of a bottoming pattern, indicating the potential for a reversal if momentum continues to build.
LINK TO CHART – https://schrts.co/yaurHXKB
ALLT – Allot Ltd.
Allot is attempting to break out to 52-week highs, supported by robust volume. Monitor closely for confirmation of a sustained move higher.
LINK TO CHART – https://schrts.co/IJeMRSIW
AR – Antero Resources Corp.
Antero Resources appears to be setting up just below a significant horizontal resistance line, which could also serve as a potential breakout trigger. Monitor closely for signs of increased momentum.
LINK TO CHART – https://schrts.co/WPJymBhy
EQT – EQT Corp.
EQT is consolidating in the form of a potential continuation pattern, suggesting the possibility of further upside if the pattern resolves positively. Monitor closely for any breakout signals.
LINK TO CHART – https://schrts.co/SsaxSCvk
MBLY – Mobileye Global Inc.
Mobileye continues to develop on the right side of a bottoming pattern, indicating potential for a reversal if momentum builds. Monitor closely for confirmation.
LINK TO CHART – https://schrts.co/uqHVIPbP
NEOV – NeoVolta Inc.
NeoVolta is attempting to move higher from a continuation pattern and has been featured in the institutional sponsorship section of the unusual activity report. Monitor closely for signs of a breakout to confirm further upward momentum.
LINK TO CHART – https://schrts.co/fdjNAwdP
SATX – SatixFy Communications
SatixFy Communications is consolidating just below its 52-week high, suggesting potential strength as it holds near this key level. Monitor for a possible breakout.
LINK TO CHART – https://schrts.co/DfbQWshC
SHLS – Shoals Technologies Group Inc.
Shoals Technologies appears to be forming a setup on the right side of a bottoming pattern, indicating the potential for a reversal if momentum continues to build. Monitor closely for confirmation.
LINK TO CHART – https://schrts.co/QCKfzwce
XYF – X Financial
X Financial appears to be setting up just below its 52-week high, suggesting potential strength as it consolidates near this key level. Monitor for a possible breakout.
LINK TO CHART – https://schrts.co/ZwJgWhjb
Canadian Daily Setups
AEP.V – Atlas Engineered Products Ltd.
Atlas Engineered Products appears to be forming a potential consolidation/continuation pattern, which at this stage could also be interpreted as a bottoming pattern. Monitor closely for signs of a breakout or a trend reversal.
LINK TO CHART – https://schrts.co/BpbtwUsp
BMO.TO – Bank of Montreal
BMO continues to trade in a tight range below its 52-week high, signaling consolidation. Monitor for a potential breakout from this range.
LINK TO CHART – https://schrts.co/SbUQTsGf
EMA.TO – Emera Inc.
Emera continues to set up near its 52-week high, indicating potential strength. Monitor for signs of a breakout to confirm upward momentum.
LINK TO CHART – https://schrts.co/BCYEjvVG
GEI.TO – Gibson Energy Inc.
Gibson Energy is retesting its recent breakout line, a key level to monitor for potential support and continuation of the upward trend.
LINK TO CHART – https://schrts.co/AsQCkMKG
MFC.TO – Manulife Financial Corp.
Manulife is consolidating in the form of a potential continuation pattern, suggesting the possibility of further upside if the pattern resolves positively. Monitor for breakout signals.
LINK TO CHART – https://schrts.co/xPcubgrj
NCI.V – NTG Clarity Networks Inc.
NTG Clarity Networks is finally beginning to push higher from the right side of the basing pattern that we have been monitoring, signaling potential for continued upward momentum.
LINK TO CHART – https://schrts.co/YqSzKchn
SBBC.V – Simply Better Brands Corp.
Simply Better Brands is setting up just below its 52-week high, suggesting potential strength as it consolidates near this key level. Monitor for a possible breakout.
LINK TO CHART – https://schrts.co/YdWFDIiN
VERS.NE – VERSES Technologies Inc.
VERSES Technologies appears to be setting up below a significant horizontal resistance line, which could also be considered a potential trigger. Monitor closely for signs of a breakout.
LINK TO CHART – https://schrts.co/QDiqyBnK
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 – 2024-12-29
LITM, WIMI, STI, SES, QSI, PDYN, MYSZ, IVDA, FEAM, EVTL, IDAI, BKYI, EVAX, KC, GRRR, QTI, MFH, MRNS, PTPI, AENT, OMER, RGTI, TENX, CDZI, ALLT, RERE, CIA, GDS, ONVO, GDYN, FBRX, MNOV, REE, QMCO, ICAD, GOVX, EKSO, PLCE, STIM, NEOV, MIND, SHLS, TEO, VNET, BSGM, SATX, ECX, ONDS, MODV, SDA, PHX, RLX, MBLY, TGS, CLMT, LUCD, RSSS, LW, CRK, VEON, SUPN, SRUUF, LWAY, VTYX, SNFCA, BITW, LOMA, TIGO, CDTX, CXAI, XYF, SQFT, MSAI, MLTX, BFLY, IBIO, AR, SLQT, TSE, AEHR, AMWL, CEPU, ADSE, UNCY, ALTO, TARS, NPWR, HTGC, WIT, TBRG, PVLA, USO, GSAT, ACIU, OLN, ZIM, WYY, ARLP, RDWR, LFT, SRAD, BANX, LFST, LI, MOMO, CGBD, TEVA, KALA, PHLT, SKE, DMLP, RRC, BBAR, FDX, VRSN, PLYA, INVZ, HRL, CARG, INDV, HESM, INBX, MAIN, EXE, GPOR, SLRX, SW, NN, EDR, EQT, MDXG, PAM, SPR, HAIN, PEP, USM, EZPW, WES, GRCE, WEAV, HEAR, CRESY, LULU, NOK, DTE, FRPT, IDCC, BA, PRMW, GM, RDW, TARA, URBN, TDS, VIST, IBEX, CHWY, EQV, ET, QBTS, SHAK, K, USDU, HSBC, BKLN, BOXX, CME, HCP
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 – 2024-12-29
QNC.V, AUMC.CA, BTQ.NE, PTK.V, ZEN.V, SCPE.CA, NCI.V, ACT.CA, GURU.TO, PALI.V, VERS.NE, ORC/B.V, QIPT.TO, AIDX.TO, SBBC.V, KLD.V, FEC.TO, IMP.TO, TIXT.TO, PRQ.TO, BLN.TO, ONEX.TO, FWZ.V, IFOS.V, GTE.TO, CAE.TO, URB/A.TO, VBNK.TO, AOI.TO, SKE.TO, GTWO.TO, PXT.TO, WRN.TO, SFC.TO, NG.TO, BHC.TO, GGD.TO, GMX.TO, PEY.TO, AMRQ.V, DXT.TO, TSL.TO, NGEN.V, TNZ.TO, AEP.V, MDP.TO, TVE.TO, LAAC.TO, ONC.TO, MX.TO, WCP.TO, OGC.TO, ATZ.TO, AI.TO, LCS.TO, NXR/UN.TO, ACB.TO, NEO.TO, ENS.TO, KNT.TO, SSL.TO, GWO.TO, FC.TO, URC.TO, EXE.TO, EQX.TO, MDA.TO, POW.TO, MI/UN.TO, CHP/UN.TO, PMZ/UN.TO, BTB/UN.TO, SOY.TO, IAG.TO, NVA.TO, SLF.TO, ATX.V, DIV.TO, IGM.TO, BPF/UN.TO, FSZ.TO, LBS.TO, CHE/UN.TO, BNS.TO, DLCG.TO, CRT/UN.TO, EFN.TO, CTS.TO, BMO.TO, KEL.TO, TA.TO, EDR.TO, MFC.TO, PZA.TO, E.TO, MPCT/UN.TO, CTC/A.TO, TOU.TO, GEI.TO, DFN.TO, RY.TO, EIF.TO, GIL.TO, REAL.TO, WSP.TO, CPX.TO, TOY.TO, BYD.TO, ENB.TO, GEO.TO, AGI.TO, EMA.TO, TRP.TO, VLE.TO, RBA.TO, OR.TO, FNV.TO, TPZ.TO, RSI.TO, AD/UN.TO, WELL.TO, OLA.TO, PSU/U.TO, ARX.TO, GLXY.TO, L.TO, MNU/U.TO, EMP/A.TO
Institutional Momentum Watchlists
Welcome to the Institutional Momentum Watchlist, an exclusive feature for our members. This list highlights stocks that have recently caught the attention of institutional investors, either through new purchases or significant additions. These stocks are selected based on promising technical setups that suggest potential momentum. Our systematic approach filters for opportunities where institutional sponsorship aligns with favorable technical conditions, offering a unique edge in your trading strategy. Keep an eye on this watchlist as we update it each weekend with the latest insights from the market.
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.
US Institutional Momentum Watchlist
STI, MYSZ, IVDA, FEAM, IDAI, BKYI, EVAX, QTI, MFH, MRNS, PTPI, TENX, CYCC, ALLT, GDS, ONVO, FBRX, REE, GOVX, EKSO, PLCE, STIM, NEOV, MIND, SHLS, BSGM, SATX, ECX, ONDS, MODV, PHX, RSSS, LW, VEON, LWAY, VTYX, CDTX, SQFT, MSAI, MLTX, IBIO, TSE, AMWL, UNCY, TARS, NPWR, PVLA, ACIU, OLN, ZIM, WYY, RDWR, LFST, LI, KALA, PHLT, FDX, INVZ, CARG, INDV, INBX, GPOR, SLRX, NN, SPR, HAIN, USM, EZPW, GRCE, WEAV, FRPT, GM, RDW, TARA, CHWY, EQV, YHNAU, USDU, BKLN, BOXX, CME, HCP, AZO
Canadian Institutional Momentum Watchlist
ELBM.V, PTK.V, TAL.TO, ONEX.TO, PNE.TO, CAE.TO, WRN.TO, NG.TO, PEY.TO, DXT.TO, AEP.V, TVE.TO, LAAC.TO, ONC.TO, MX.TO, OGC.TO, ATZ.TO, NXR/UN.TO, ACB.TO, NEO.TO, SSL.TO, GWO.TO, FC.TO, URC.TO, EXE.TO, EQX.TO, MDA.TO, POW.TO, MI/UN.TO, CHP/UN.TO, IAG.TO, NVA.TO, SLF.TO, IGM.TO, FSZ.TO, BNS.TO, EFN.TO, CTS.TO, BMO.TO, TA.TO, EDR.TO, MFC.TO, PZA.TO, CTC/A.TO, TOU.TO, GEI.TO, RY.TO, EIF.TO, REAL.TO, WSP.TO, CPX.TO, TOY.TO, ENB.TO, AGI.TO, EMA.TO, TRP.TO, FCR/UN.TO, OR.TO, CRR/UN.TO, FNV.TO, NWH/UN.TO, ARIS.TO, TPZ.TO, AD/UN.TO, BDGI.TO, WELL.TO, OLA.TO, KMP/UN.TO, FM.TO, JWEL.TO, ARX.TO, GLXY.TO, L.TO, EMP/A.TO
