- Chart Art
- Posts
- Stocktwits Chart Art: August 01, 2024
Stocktwits Chart Art: August 01, 2024
The best charts and trade ideas from the day.
Tom Bruni
August 01, 2024
STOCKTWITS CHART ART: AUGUST 01, 2024
The Stocktwits Summary 📝
Global risk assets sold off today as the market digested the Bank of England’s rate cut and yesterday’s Fed and Bank of Japan decisions. Global economic concerns have now overtaken inflation concerns, which is why we’re seeing global rates fall as investors race to secure “safety” at current yields. 😨
Here’s how the major indexes ended the day:
Index | ST Sentiment Score | ST Message Volume |
|---|---|---|
$SPY (-1.42%) | Neutral (50) | High (67) |
$QQQ (-2.42%) | Bearish (41) | High (64) |
$IWM (-3.23%) | Neutral (54) | High (61) |
$DIA (-1.29%) | Extremely Bearish (22) | 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
Utility Stocks Pop As Investors Play Defense 🛡️
With the market melting down today and bonds catching a bid, investors are once again turning their attention to defensive areas of the market.
Stocktwits user @Dr_Stoxx highlighted an interesting base set up in the utility sector 3x ETF, citing multiple catalysts for the sector to work through the end of the year. 🕵️
$CWAN Is Worth A Look Amid Its Breakout 👀
$GE Getting Closer To New Highs Before Earnings 🤫
STOCKTWITS “TRENDS WITH FRIENDS”
Bitcoin Bulls, Biotech Breakouts, & Global Market Shifts 👀
Stocktwits co-founder Howard Lindzon chops it up with pals JC Parets and Phil Pearlman every Thursday on "Trends With Friends."
This week, technology expert and investor Michael Parekh is back to discuss Bitcoin’s long-term bullish trajectory, why eyes are on Solana, AI infrastructure companies like Vertiv, and the shift in global market trends.