Stocktwits Chart Art: July 29, 2024

STOCKTWITS CHART ART: JULY 29, 2024
The Stocktwits Summary 📝

U.S. stocks started the day continued their bounce early in the session but faded throughout the day to close red. With volatility heightened and a busy week of earnings and economic data, traders are taking a more cautious approach to new trade setups. ⚠️

Here’s how the major indexes 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
Heightened Vix Highlights Risks ⚠️

While it’s widely debated whether you can perform technical analysis on the S&P 500’s Volatility Index (VIX), we can all agree that it’s nearing levels reached in April when the market experienced its last material pullback. 🫨

Stocktwits user @SharePlanner is watching the market’s reaction to this level to determine whether the recent equity market dip will be bought or whether we’re in for a sustained period of higher volatility.

With the Fed’s rate decision on Wednesday, U.S. labor market data throughout the week, and big tech earnings scattered throughout, there are certainly enough catalysts to make either case. 🤔

BlackRock Hits 2.5-Year Highs Amid Financials’ Strength 🏦

Rocket Companies Continues Its Rate Cut Run 🚀