Stocktwits Chart Art: December 18, 2024

STOCKTWITS CHART ART: DECEMBER 18, 2024
The Stocktwits Summary 📝

Equity markets opened higher but reversed sharply after the Federal Reserve cut interest rates by 25 basis points and signaled a more cautious outlook for future reductions, projecting just two cuts in 2025. The S&P 500 dropped 2.95%, its steepest post-FOMC decline since March 2020, as the Fed’s updated projections pointed to a slower pace of monetary easing alongside upward revisions to growth and inflation expectations.

Here’s how the major indices ended the day:

*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
Celsius Tests Long-Term Support 🛑 

Despite the late-day market sell-off triggered by FOMC, Celsius has found a higher time frame level that it might just hang onto.

Stocktwits user @TheProphetOfProfit points out the 5-year uptrend support level that the stock has recently approached, following a steep 50% decline year-to-date.

Tesla Forms Potential Head And Shoulders Top 🧐

Uber Fights To Reclaim Key Uptrend 📈

PRESENTED BY STOCKTWITS
Brian Shannon (@alphatrends) Takes Chart Requests 👀 

Pro trader and Stocktwits user Brian Shannon and pioneer of the Anchored Volume Weighted Average Price (AVWAP) breaks down the latest market trends and takes chart requests from the Stocktwits community. You don’t want to miss this!