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- Stocktwits Chart Art: August 02, 2024
Stocktwits Chart Art: August 02, 2024
The best charts and trade ideas from the day.
Tom Bruni
August 02, 2024
STOCKTWITS CHART ART: AUGUST 02, 2024
The Stocktwits Summary 📝
Weaker-than-expected nonfarm payrolls and a rising unemployment rate raised the market’s concerns that the Fed may have screwed up its “soft landing.” Bonds and defensive assets caught a bid, while volatility spiked and stocks sold off. Still, traders are finding opportunities on both the long and short side of the tape. 🕵️
Here’s how the major indexes ended the day:
Index | ST Sentiment Score | ST Message Volume |
|---|---|---|
$SPY (-1.86%) | Bullish (63) | High (72) |
$QQQ (-2.37%) | Neutral (49) | High (71) |
$IWM (-3.54%) | Neutral (51) | High (58) |
$DIA (-1.51%) | Bearish (33) | High (72) |
*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
Argentina’s Amazon Looks Set To Break Out 🛒
While U.S. tech stocks are struggling in the current environment, some standouts remain internationally. 🌎
Stocktwits user @Synaptric highlighted MercadoLibre, which has shown relative strength during this market volatility and recently reported a solid quarterly earnings report.
Prices are stuck below a clear downtrend line, but bulls are betting this level breaks to the upside as soon as the market finds its footing. 👍
Malaysia ETF Is Making A Name For Itself 👀
Intuit’s Base Looks Poised To Break Out 🧑💻
