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Stocktwits Chart Art: April 10, 2024

The best charts and trade ideas from the day.

Author

Tom Bruni
April 10, 2024

STOCKTWITS CHART ART: APRIL 10, 2024
The Stocktwits Summary 📝

A hotter-than-expected consumer price index (CPI) print sent interest rates jumping and the major stock market indexes dumping. Interestingly, Stocktwits sentiment ticked up as retail investors looked to “buy the dip.” 🐂

Here’s how the major indexes ended the day:

Index

ST Sentiment Score

ST Message Volume

$SPY (-1.00%)

Extremely Bullish (76)

High (72)

$QQQ (-0.87%)

Bullish (65)

High (74)

$IWM (-2.64%)

Neutral (48)

High (72)

$DIA (-1.11%)

Bullish (69)

High (74)

*The ST Sentiment Score & Message Volume scales range from 0 to 100 (extremely bearish to extremely bullish). More info here.

And here were Stocktwits’ top Trending symbols:

CHART OF THE DAY
A Roadmap For The S&P 500’s Correction 🗺️

With today’s inflation scare dragging the major indexes lower, traders are mapping out what levels could provide support if prices continue to slide.

While there are a lot of methods out there to do this, Professor’s outline below is a solid look into one pro trader forming his approach. 👇

@Professor | Pro | Technicals | Equities/Crypto

$SPX $SPY Below its 21EMA today and now headed towards 50sma next over the course of next few days- Something we havent seen since that Nose bleed bottom in Nov 2023. Sure many got used to easy way not we are going to see what markets do ---> Trade in waves Going to share what to watch for: 1. Downside level at $5100 (little over 1% away) 2. If we lose 5100 price can retrace down to $5020, even if this happens it would be a normal 5% yearly pullback. There you have it put out in simple terms- Save it for future & share it with your friends ✍️❤️

USD/JPY’s Next Leg Higher Has Begun 💴

@johnkicklighter | Pro | Macro | Options/Futures/Forex

Your move BOJ... $USDJPY has finally decided a break after extending the tightest relative range in three decades. And the bullish break to the highest in 34 years puts clear pressure Japanese authorities attempt to prop up the Yen against 'speculative forces'

Delta Air Lines Will Take Off If It Cracks $50 🛫

@MarkNewtonCMT | Pro | Technicals | Equities/Options/Futures

$DAL today's best $SPX performer, higher by 2% after 2Q forecast, earnings beat- #Airlines definitely starting to perk up a bit- Watch $50, which when exceeded, will help DAL achieve a bit quicker liftoff.

Uranium Stocks Are Heating Up Again ☢️

@Global_Trader | Pro | Technicals | Equities/Options

$URA $URNM Uranium Miners: Setting up a pullback buy opportunity. Both short-term and long-term trends are bullish. Awaiting a positive momentum shift to enter a long position. 📈🚀

Rate Jump Tanks Regional Bank Flushing Financial 🚽

@chessNwine | Pro | Technicals | Equities/Options/Bonds

$FFIC Daily. Worth noting the worst of the worst performers today on the CPI shock in regional banks, a rate sensitive sector. As of now, NYC borough bank Flushing Financial Corporation is worst in $KRE with an ominous chart to boot.

It’s “Ready, Net, Go” Time For This Cloud Stock 💨

@Thelonius_Stonk | Pro | Technicals | Equities/Crypto

$NET ready. net. go.

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