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Stocktwits Chart Art: April 29, 2024
The best charts and trade ideas from the day.
Tom Bruni
April 29, 2024
STOCKTWITS CHART ART: APRIL 29, 2024
The Stocktwits Summary 📝
Market volume remains muted, with stocks coming under pressure late in the session but closing green. Big tech earnings, the Fed’s interest rate decision on Wednesday, and U.S. employment data are keeping investors and traders on edge this week. 😬
Here’s how the major indexes ended the day:
Index | ST Sentiment Score | ST Message Volume |
|---|---|---|
$SPY (+0.35%) | Bearish (36) | Normal (45) |
$QQQ (+0.41%) | Neutral (46) | Normal (45) |
$IWM (+0.79%) | Bearish (27) | Normal (47) |
$DIA (+0.39%) | Neutral (52) | Low (35) |
*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
JD’s Jump Puts Chinese Stocks Back On The Map 📍
Chinese stocks were more or less left for dead in 2023 after the country’s post-COVID reopening failed to deliver on the economic rebound investors had expected. Given almost every other country’s stock market was trending higher and geopolitical tensions between the West and China were heating up, there was little reason for investors to sit through the underperformance. 😢
However, as we’ve pointed out, the country’s stock market indexes and major companies have been quietly rebounding in 2024 and are beginning to catch investor attention.
Stocktwits user @OptionsSean pointed out the recent breakout and improving momentum picture for JD .com, one of the largest B2C online retailers in the country. Sean notes that although the recent move has been slow and steady, sentiment towards the space could really shift quickly if prices start to exhibit some sustained absolute and relative momentum. 🤩
Another Aerospace & Defense Stock Takes Flight ✈️
GE Healthcare Resumes Uptrend As Spinoffs Stay Hot 🔥
Affirm Buyers May Get Paid Later If Breakout Occurs 💳
OpenLane Eyes Open Road Amid Breakout Attempt 🛣️
Bonds Are Quietly Catching A Bid Below Support 🤫
Natural Gas May Blast Higher After Failed Break 👀
Palladium’s Pain May Be Coming To An End 🥲
Chart Says Bitcoin's Crypto Dominance Can Continue ₿
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