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Stocktwits Chart Art: September 06, 2024
The best charts and trade ideas from the day.
Tom Bruni
September 06, 2024
STOCKTWITS CHART ART: SEPTEMBER 06, 2024
The Stocktwits Summary 📝
Bears took softening economic data as their opportunity to pounce, with the S&P 500 recording its worst week since March 2023 while the Nasdaq 100 had its worst since 2022. While some traders continue to find opportunities on the long side, others are looking to put on their shorts. 😱
Here’s how the major indexes ended the day:
Index | ST Sentiment Score | ST Message Volume |
|---|---|---|
$SPY (-1.68%) | Extremely Bearish (18) | High (66) |
$QQQ (-2.68%) | Bearish (24) | High (67) |
$IWM (-1.90%) | Bullish (57) | High (64) |
$DIA (-0.98%) | Bearish (25) | High (67) |
*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
Google Gains Attention As It Probes Support 🧐
With Alphabet and other major tech names testing key support levels like their prior breakout level and 200-day moving average, buyers and sellers are left wondering what they should be doing.
Stocktwits user @ATMcharts pointed out the conundrum in his chart, saying that it’s tempting but implying he’s not convinced yet. 🧐
Microsoft May Be Breaking Its Trend 😬
Commodity ETF Cracks Support Amid Oil Weakness 📉
