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Stocktwits Chart Art: November 06, 2024
The best charts and trade ideas from the day.
Tom Bruni
November 06, 2024
STOCKTWITS CHART ART: NOVEMBER 06, 2024
The Stocktwits Summary 📝
Trump wins, Nvidia cements itself as the world's most valuable company, and banking and small-cap stocks rocket as the market speculates what the new administration’s “pro-business” policies mean for the economy and markets. 👀
Here’s how the major indexes ended the day:
Index | ST Sentiment Score | ST Message Volume |
|---|---|---|
$SPY (+2.49%) | Extremely Bullish (88) | Extremely High (77) |
$QQQ (+2.72%) | Extremely Bullish (84) | High (67) |
$IWM (+5.79%) | Extremely Bullish (89) | Extremely High (85) |
$DIA (+3.54%) | Extremely Bearish (24) | Extremely High (87) |
*The ST Sentiment Score & Message Volume scales range from 0 to 100 (extremely bearish to extremely bullish). More info here.
And here were Stocktwits’ top Trending symbols:
CHART OF THE DAY
Betting On A Volatility Beatdown 🗳️
The official @Stocktwits handle helped capture the mood of the day, with a chart from Bloomberg showing the massive spike in the Volatility Index’s ($VIX) put-to-call ratio. This signals a rise in bets that volatility will fall in the coming days and weeks.
The index had been above its 200-day moving average for 79 days, showing an elevated level of volatility ahead of the election. But with the election wrapping up much quicker (and less contested) than anticipated, traders and investors are betting on clear skies ahead for the stock market. Time will tell if they’re right! 👀
The QQQs Just Can’t Lose 🤑
Bitcoin Decisively Breaks To New All-Time Highs ₿
