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Stocktwits Chart Art: October 18, 2024

The best charts and trade ideas from the day.

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STOCKTWITS CHART ART: OCTOBER 18, 2024
The Stocktwits Summary 📝

U.S. stocks closed another week in positive territory as Netflix made new all-time highs. However, the day's main story was precious metals, as silver jumped to a 12-year high, and the entire space shined bright on an otherwise muted day in the markets. 👀

Here’s how the major indexes ended the day:

Index

ST Sentiment Score

ST Message Volume

$SPY (+0.38%)

Bullish (71)

Normal (50)

$QQQ (+0.66%)

Bearish (41)

Normal (53)

$IWM (-0.21%)

Bullish (55)

High (63)

$DIA (+0.08%)

Bearish (31)

Normal (52)

*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
Silver Breaks Out To 12-Year Highs 🤩

Precious metals have been a major topic of discussion this year, with many playing the uptrend in gold via miners, leveraged ETFs, and other vehicles. However, many have been waiting for silver to join the rally to confirm this is a secular move in the metals space…and we may have gotten that signal today.

Stocktwits user @2kaykim shared a chart showing silver breaking out to 12-year highs as platinum and palladium also caught a bid. With gold’s beta-filled little brother silver finally making its move, traders and investors are betting on the bull market continuing in this space. 📈

Silver Miners Set Up For Their Next Leg Higher ⛏️ 

A Stealth Play In The Precious Metals’ Space 🤫 

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