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Stocktwits Chart Art: May 16, 2024
The best charts and trade ideas from the day.
Tom Bruni
May 16, 2024
STOCKTWITS CHART ART: MAY 16, 2024
The Stocktwits Summary 📝
A rare red day interrupted the stock market’s all-time highs, with big tech giving back some of its gains. Despite that, stocks continue to move under the surface, with the Stocktwits community focused on new trading opportunities presenting themselves each day. 🔻
Here’s how the major indexes ended the day:
Index | ST Sentiment Score | ST Message Volume |
|---|---|---|
$SPY (-0.21%) | Bearish (44) | High (57) |
$QQQ (-0.20%) | Bullish (61) | High (56) |
$IWM (-0.72%) | Neutral (53) | High (56) |
$DIA (-0.02%) | Bullish (57) | High (58) |
*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
NYSE FANG+ Index’s Breakout Reiterates Tech Strength 🦾
Other other areas of the market are joining the party in 2024, but big tech remains the belle of the ball. Stocktwits user @Cousin_Vinny reminded us of this by sharing the NYSE Fang+ Index, comprised of ten of the largest tech stocks, hitting new all-time highs.
Like many other major U.S. indexes, it’s clearing multi-month resistance, causing traders to bet on it heading to even further heights. 🤑
Trade Desk Tops Its Recent Resistance Level 📲
Communication’s Stock Celestica Soars To New Highs ⛅
First Solar Looks Ready To Shine Again 🌞
Marijuana Stocks Could Soon Be Reclassified Into Uptrends 📈
Mastercard Is Making A Move Back To Its Highs 💳
AMD Reclaims Its 2022 Highs With Latest Move 👍
Medtech Giant Stryker Looks Ready To Begin Healing 🦿
Betting On The Underdog Datadog To Bounce Back 🐶
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Disclaimer: Content, news, research, tools, and securities symbols are for educational and illustrative purposes only and do not imply a recommendation or solicitation to buy or sell a particular security or to engage in any particular investment strategy. Read the full terms & conditions here. 🔍
