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Stocktwits Chart Art: November 01, 2024
The best charts and trade ideas from the day.
Tom Bruni
November 01, 2024
STOCKTWITS CHART ART: NOVEMBER 01, 2024
The Stocktwits Summary 📝
The large-cap U.S. indexes recorded their first meaningful week of downside as momentum wanes ahead of next week’s presidential election and fed decision. Still, many catalysts for individual stock moves remain, where traders focus their attention…albeit at a slightly less aggressive pace. 👀
Here’s how the major indexes ended the day:
Index | ST Sentiment Score | ST Message Volume |
|---|---|---|
$SPY (+0.42%) | Bullish (61) | High (59) |
$QQQ (+0.74%) | Neutral (46) | High (61) |
$IWM (+0.56%) | Bearish (28) | High (55) |
$DIA (+0.66%) | Bearish (29) | High (71) |
*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
Copper & Chinese Equities Set Up For A Big Move 😬
Both copper futures and Chinese equities are trading in lockstep, with prices consolidating tightly following a sharp move higher and a slight pullback.
Stocktwits user @G_R_ pointed out this “wound up” pattern as typically these periods of volatility contraction lead to a violent move once they resolve. Which way it will resolve remains to be seen. Either way, traders will be looking to hop onto the ride once these markets pick their next direction. 🔥
Israeli Stocks Soar Despite Continued Conflict 🤔
DocuSign’s Bull Flag Foreshadows Further Gains 🔮
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