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Stocktwits Chart Art: August 14, 2024
The best charts and trade ideas from the day.
Tom Bruni
August 14, 2024
STOCKTWITS CHART ART: AUGUST 14, 2024
The Stocktwits Summary 📝
It was a mixed day in markets after better-than-expected consumer price data, with sellers initially taking control but bulls battling back. While some traders are making the case for a cautious stance (alongside neutral to bearish Stocktwits sentiment), others are embracing new long positions. 🤷
Here’s how the major indexes ended the day:
Index | ST Sentiment Score | ST Message Volume |
|---|---|---|
$SPY (+0.32%) | Bearish (42) | Normal (52) |
$QQQ (+0.03%) | Neutral (50) | Normal (51) |
$IWM (-0.62%) | Bearish (32) | Normal (48) |
$DIA (+0.58%) | Neutral (52) | Normal (45) |
*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
S&P 500 Approaches Several “Obvious” Resistance Levels 🤔
It’s been quite the rebound in stocks since last week’s “Yen carry trade” meltdown, though most do not expect a move straight back to all-time highs.
Stocktwits user @ZenTrades pointed out several potential resistance levels the S&P 500 approached today that could cause the rally to stall or at least pause in the short term. Investors and traders will be watching closely to see how prices react to these levels. 🔍
Last Week’s Big Drawdown Broke Bulls’ Spirits 😫
After Brief Pause, This Stock Is Off To The $RACEs 🏎️
