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Stocktwits Chart Art: September 05, 2024
The best charts and trade ideas from the day.
Tom Bruni
September 05, 2024
STOCKTWITS CHART ART: SEPTEMBER 05, 2024
The Stocktwits Summary 📝
A continued cooling of labor market data made for a mixed day on Wall Street, as investors struggle to determine if ‘bad’ news for the economy is good news for stocks. Despite the market weakness, defensive sectors slumped, and consumer discretionary led the day. 🤔
Here’s how the major indexes ended the day:
Index | ST Sentiment Score | ST Message Volume |
|---|---|---|
$SPY (-0.24%) | Extremely Bearish (20) | High (59) |
$QQQ (+0.09%) | Bearish (35) | High (57) |
$IWM (-0.50%) | Bullish (70) | High (53) |
$DIA (-0.48%) | Neutral (46) | High (55) |
*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
$COIN Probes Fresh Lows Amid Crypto Weakness 😬
As crypto continues to trade in a volatile range, stocks linked to the asset class have not shown as much resilience. 😟
Stocktwits user @TheProphetOfProfit shared the chart of Coinbase, which is making nearly 7-month lows. He suggests that if the stock loses $160, then $140 is the next logical support level.
Nonetheless traders say the stock breaking down from a 6-month consolidation shows that the short and intermediate-term momentum remains to the downside. 📉
AI Stock Stumbles Following Lackluster Forecast 😩
Did Berkshire Hathaway Abandon $OXY? 🤔
