The StockTwits Charts Stream gets filled daily with thousands of stock charts created by the largest real-time trading community in the world. Below are a few notable ones for your perusal:
1. Consumer Confidence vs. S&P 500 – Ryan Detrick, Senior Technical Strategist at Schaeffer’s Investment Research, posted this excellent chart of consumer confidence, plotted in red, and the S&P 500, plotted in black. Consumer Confidence is much lower than it was at the 2000 and 2007 market highs. It is now at 80 while it hit 145 in 2000 and 115 in 2007. That’s nearly 45% below where it was at the 2000 top even as the S&P makes new highs.
2. SPDR Dow Jones Industrial Average ETF (DIA) – Kimble Charting Solutions’ Chris Kimble posted this excellent chart which shows that the DJIA has made a key high or low every 13 years since 1974. This year may be an important one for the market as it is near its resistance line that began in 2000.
3. Facebook (FB) – Aaron Ovadia posted the following chart to StockTwits which shows that Facebook is only pennies away from reaching its May 2012 IPO price of $38. Facebook broke out of its symmetrical triangle after Facebook announced better than expected earnings that were due, in part, to mobile ad growth. The $38 area could prove to be a level of resistance as many investors bought the stock on its first day and may be looking to finally get out unscathed.
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- Chris Kimble