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Stocktwits Chart Art: September 03, 2024

The best charts and trade ideas from the day.

Author

Tom Bruni
September 03, 2024

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STOCKTWITS CHART ART: SEPTEMBER 03, 2024
The Stocktwits Summary 📝

September is off to a rocky start, which is not necessarily surprising given it’s the worst month of the year on average. With that said, traders are still finding opportunities in defensive stocks while Nvidia and other tech stocks give back their recent gains. 🛡️

Here’s how the major indexes ended the day:

Index

ST Sentiment Score

ST Message Volume

$SPY (-2.06%)

Extremely Bearish (19)

High (57)

$QQQ (-3.04%)

Bearish (30)

High (59)

$IWM (-3.06%)

Bearish (35)

High (58)

$DIA (-1.43%)

Extremely Bearish (15)

High (61)

*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
Tuesday Brings The Bearish Engulfing Candles 🕯️

Today’s ‘Chart of The Day’ is actually many charts, showing the same candlestick reversal pattern happening across many of the market’s leaders.

Stocktwits user @Synaptric’s chart shows the infamous ‘bearish engulfing’ chart pattern setting up in several widely followed stocks. This suggests the overall market could be due for a breather here if prices see downside follow-through. 😬

@Synaptric | Pro | Technicals | Equities

Day 1 of September effect: Tons of bearish engulfing patterns $PHM $MSFT $NOW $COST

Sorry, September Generally Sucks 😟 

@Honeystocks | Pro | Top-Down Technicals | Equities/Options

Always give respect to the S&P500 in September. -2% to kick the month off... normally I'd say it's probably a Turnaround Tuesday tomorrow, but then I realised we had a 3 day weekend. With $VIX up in the 20s, it's probably Whiparound Wednesday on the cards. Dips = Opportunity? $SPY $SPX

Semiconductors Probe Potential Support 🧐

@ivanhoff | Pro | Technicals/Momentum | Equities/Options

$SMH down 7% so far today. It's down to its YTD VWAP. It might be working on a head-and-shoulders pattern.

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