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Stocktwits Chart Art: May 22, 2024
The best charts and trade ideas from the day.
STOCKTWITS CHART ART: MAY 22, 2024
The Stocktwits Summary 📝
Stocks came in today a bit hesitant, with the FOMC Minutes’ vibes throwing the market into a small tailspin. The central bank’s commentary suggested that the “higher for longer” rate situation could be longer(er) than even the market had gotten comfortable with. 😱
Here’s how the major indexes ended the day:
Index | ST Sentiment Score | ST Message Volume |
---|---|---|
$SPY (-0.29%) | Bearish (41) | Normal (52) |
$QQQ (-0.02%) | Extremely Bearish (20) | High (57) |
$IWM (-0.84%) | Extremely Bearish (18) | High (60) |
$DIA (-0.53%) | Extremely Bearish (18) | High (59) |
*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
CarGurus Continues To Build Its Breakout Case 🚗
While a lot of the market has been focused on Carvana, Root Insurance, and others in the car retailer space, CarGurus has been flying under the radar.
Stocktwits user @alphatrends’ outline below that although the fundamental picture looks compelling, the technical view is the real selling point. The tight consolidation since its last earnings report is happening near a key level, with traders like Brian looking for further strength before getting involved. 👀
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