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- Stocktwits Chart Art: July 26, 2024
Stocktwits Chart Art: July 26, 2024
The best charts and trade ideas from the day.
Tom Bruni
July 26, 2024
STOCKTWITS CHART ART: JULY 26, 2024
The Stocktwits Summary 📝
Stocks battled back to close the week mixed, with small-caps and papa Dow closing in the green and the S&P 500 and Nasdaq 100 closing in the red. Improving inflation data gave buyers the green light as the market believes a September rate cut is ensured, with another potentially before year-end. 🟢
Here’s how the major indexes ended the day:
Index | ST Sentiment Score | ST Message Volume |
|---|---|---|
$SPY (+1.12%) | Bearish (31) | High (59) |
$QQQ (+1.03%) | Bearish (42) | High (57) |
$IWM (+1.65%) | Bullish (59) | Normal (54) |
$DIA (+1.62%) | Bullish (58) | High (61) |
*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
Biotech Breaks Out Relative To Nasdaq 100 👀
Biotech and healthcare have been a recent theme following their strength on an absolute basis, but now they’re showing strength relative to other sectors and the broader market.
Stocktwits user @Thelonius_Stonk pointed out the ratio of popular biotech etf $XBI vs. the Nasdaq 100 ETF $QQQ breaking out above the downtrend line from its 2021 highs. He and other traders on the platform are taking this as a sign that the biotech sector is set to remain hot into year-end and potentially much longer. 💉
TransOcean Shares Near A Big Break 🧐
Another Energy Stock Sets Up For A Breakout 🛢️
