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Stocktwits Chart Art: October 21, 2024
The best charts and trade ideas from the day.
STOCKTWITS CHART ART: OCTOBER 21, 2024
The Stocktwits Summary 📝
Crude oil jumping and 10-year yields popping to 2.5-month highs pressured the small-cap Russell 2000 as stock investors focused on the latest earnings results and announcements. Nvidia hit a new all-time high and is just a few percentage points from topping Apple as the largest stock in the world. Maybe this is the week. 👀
Here’s how the major indexes ended the day:
Index | ST Sentiment Score | ST Message Volume |
---|---|---|
$SPY (-0.16%) | Extremely Bullish (81) | Normal (49) |
$QQQ (+0.20%) | Bearish (30) | Normal (51) |
$IWM (-1.57%) | Bearish (40) | High (61) |
$DIA (-0.76%) | Neutral (53) | Normal (49) |
*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 The Farm On BitFarms? 🤔
With MicroStrategy surging and Bitcoin attempting to break out to new all-time highs, investors are beginning to bet on the miners to play catch up in a big way.
Stocktwits user @DavyDaveCharts pointed to Bitfarms finding support at at a confluence of support near the apex of two converging trendlines. With crypto trending higher, many expect this “indecision” technical pattern to resolve to the upside. Time will tell if they’re right. ⛏️
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