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Stocktwits Chart Art: April 15, 2024

The best charts and trade ideas from the day.

Author

Tom Bruni
April 15, 2024

STOCKTWITS CHART ART: APRIL 15, 2024
The Stocktwits Summary đź“ť

The downside momentum that began last week continued today as geopolitical tensions remained high and investors began to think about the slew of earnings announcements headed their way. đź”»

Here’s how the major indexes ended the day:

Index

ST Sentiment Score

ST Message Volume

$SPY (-1.25%)

Bearish (27)

High (62)

$QQQ (-1.65%)

Extremely Bearish (10)

High (59)

$IWM (-1.47%)

Neutral (48)

High (58)

$DIA (-0.67%)

Bullish (68)

High (64)

*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
Some Early Signs Of Short-Term Capitulation 🛎️

It’s safe to say the stock market’s short-term momentum has shifted to the downside. Those who were quick to raise cash at higher levels are now looking for signs to begin dipping their toes back in. 🤔

Stocktwits user @Cousin_Vinny shared a panel of market “breadth” indicators that are all hitting oversold levels last seen in October and November.

While he’s still waiting to see a few days of price improvement before getting involved, these early signs are encouraging and have him on the lookout for bullish setups in individual stocks. 🔍

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

$SPX ADV/DEC percent at -30% like OCT NOV - STOC oversold bounce soon? Probably. That said need to see a couple bullish days w/ conviction.

An Emerging Theme In Many Popular Charts 🎯

@alphatrends | Pro | Technicals/Momentum | Equities/Options

This is a theme I am seeing on many charts 1- Break the YTD AVWAP and drop to 2 - AVWAP from October low $CRWD $CYBR $AMD $XBI

Japanese Stocks Confirm Their Topping Pattern 📉

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

$EWJ If I play this ugly pattern in the Nikkei to the downside, I will use the EWJ ETF.

Making The Case For A Crypto Rally â‚ż

@roiresearch | Intermediate | Technicals | Crypto

$BTC.X Rally to commence. The recent weakness was predicted by minor negative divergence in BTC price and RSI Now both acting in unison again. Slow stochs signaling near oversold conditions and BTC ripe for a bounce.... Good timing with Halving and HK approval

Car Insurance Stocks Flex Their Relative Strength đźš—

@ivanhoff | Pro | Technicals | Equities/Options

Strong price action in auto insurance stocks lately. Here's $MCY. Don't even look at $ROOT.

Lou Looks To Buy The Pullback In Celsius đź’µ

@AskLou | Intermediate | Technicals/Momentum | Equities/Futures/Options

$CELH Textbook 50 day MAV test. Volume light. This is where I close the last of my covered calls if they hit my bid. If the stock goes lower, I'll start to sell cash secured puts.

Applied Materials Sets Up For Another Breakout đź’Ş

@Dr_Stoxx | Pro | Technicals/Momentum | Equities/Options/Futures

$AMAT an old friend is banging up on new ATH's and is up 160% from the 2022 lows. Perfect bullish consolidation here. Safe haven nano/AI play in a rough market.

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Disclaimer: Content, news, research, tools, and securities symbols are for educational and illustrative purposes only and do not imply a recommendation or solicitation to buy or sell a particular security or to engage in any particular investment strategy. Read the full terms & conditions here. đź”Ť