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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. 🐂