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Stocktwits Chart Art: August 19, 2024

The best charts and trade ideas from the day.

STOCKTWITS CHART ART: AUGUST 19, 2024
The Stocktwits Summary 📝

It has been a somewhat cartoonish reversal for stocks, with the S&P 500 now just 1% away from making new all-time highs. Simplicity continues to pay in August’s low-volume summer trading sessions, with traders finding setups across several sectors. 🏖️

Here’s how the major indexes ended the day:

Index

ST Sentiment Score

ST Message Volume

$SPY (+0.96%)

Bullish (58)

Normal (45)

$QQQ (+1.31%)

Bullish (55)

Low (44)

$IWM (+1.22%)

Bullish (70)

Low (43)

$DIA (+0.58%)

Bullish (65)

Low (44)

*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
Bulls Are “All That And A Bag Of … Pretzels?” 🥨

With the bulls marching on toward new all-time highs in the major indexes, even stocks many forgot about are beginning to participate. 🤔

For example, Stocktwits user @upsidetrader pointed to a breakout in snack giant Utz Brands, which is trying to make new short-term highs.

While not a quick mover like tech, it has given bulls a reason to party since early August, with ‘extremely bullish’ sentiment on Stocktwits suggesting people are looking for more upside ahead. 🐂

TG Therapeutics Tops Resistance 💉

Drug Wholesale Giant Nears All-Time Highs 💊

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