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Stocktwits Chart Art: August 22, 2024
The best charts and trade ideas from the day.
Tom Bruni
August 22, 2024
STOCKTWITS CHART ART: AUGUST 22, 2024
The Stocktwits Summary 📝
Yesterday’s winners were today’s losers, with bonds, gold, and big tech facing selling pressure as the U.S. Dollar and oil caught a bid. That didn’t stop traders from finding momentum in stocks across various sectors, and there were a few potential short setups. 🤔
Here’s how the major indexes ended the day:
Index | ST Sentiment Score | ST Message Volume |
|---|---|---|
$SPY (-0.78%) | Bearish (44) | High (55) |
$QQQ (-1.59%) | Neutral (46) | Normal (51) |
$IWM (-0.88%) | Bearish (37) | Normal (50) |
$DIA (-0.37%) | Bullish (68) | Normal (49) |
*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
This Stock Remains $ONON Momo Traders’ Radars 🤩
With Cava breaking out to new all-time highs after its earnings report, all eyes are on other ‘retail favorite growth names’ showing earnings and price momentum. 🧐
Stocktwits user @ivanhoff pointed out that $ONON is once again pushing back towards YTD highs as it looks to retest its post-IPO highs in the mid-50s.
With earnings out of the way and prices showing upward momentum, this stock will remain on traders’ screens until it finally cracks. 📋
$GEV Spinoff Sits Nicely Above Resistance 👀
Who Knew A Paint Company Could Be This Exciting? 🖌️
