TD Ameritrade Investor Movement Index: IMX Continued to Climb as Investor Optimism Increased
October 08 2018 - 12:30PM
Business Wire
Retail investors saw buying opportunity in the
September markets
The September Investor Movement Index® rose for a fifth
consecutive month, increasing to 6.23, TD Ameritrade, Inc.1
announced today. The Investor Movement Index, or the IMXSM, is a
proprietary, behavior-based index created by TD Ameritrade that
aggregates Main Street investor positions and activity to measure
what investors actually were doing and how they were positioned in
the markets.
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TD Ameritrade September 2018 Investor
Movement Index (Graphic: TD Ameritrade)
September IMX
The September 2018 Investor Movement Index for the four weeks
ended September 28, 2018 reveals:
- Reading: 6.23 (compared to 5.82 in
August)
- Trend direction: positive
- Trend length: 5 months
- Score relative to historic ranges:
Middle
Retail investor optimism continued to increase during the
September period, with TD Ameritrade clients dialing up their
exposure to equity markets. Despite light volatility during the
period, TD Ameritrade client accounts were impacted by net buying
activity and increased relative volatility in widely held names,
including Apple Inc. (AAPL), Facebook Inc. (FB), and General
Electric (GE).
“Clients upped their exposure to the markets as the Dow
continued at strength,” said JJ Kinahan, chief market strategist at
TD Ameritrade. “As we head into the fourth quarter, investors
appeared to be setting themselves up for the possibility of
continued strength despite tariffs and midterm elections looming
over the markets.”
TD Ameritrade clients were net buyers of popular stocks in the
September IMX period including:
- Amazon.com Inc. (AMZN), which reached
an all-time high on the back of multiple analyst upgrades.
- Apple Inc. (AAPL), after releasing
three new iPhone models and reaching an all-time high.
- Advanced Micro Devices Inc. (AMD),
which rose 200 percent since the start of the year.
- Tesla Inc. (TSLA), which saw volatility
after the SEC announced a lawsuit against CEO Elon Musk for
misleading shareholders with a tweet.
- Alibaba Group Holding (BABA), after
announcing Walgreens Boots Alliance Inc. (WBA) would launch a
business-to-consumer platform on Alibaba to market beauty products
to consumers in China.
Despite being net buyers, TD Ameritrade clients took profits in
popular names, including:
- Bank of America Corp. (BAC) and
Citigroup Inc., which sold off near month-end, and despite the
Federal Reserve raising rates, there were fears the yield curve
could continue to flatten.
- Exxon Mobile Corp. (XOM) and
ConocoPhillips Corp. (COP), after oil prices continued higher, with
COP reaching a 52-week high.
- Nvidia Corp. (NVDA), after reaching an
all-time high.
- Qualcomm Inc. (QCOM), which hit a
52-week high, with each stock receiving multiple analyst
upgrades.
U.S. equity markets were up again for the sixth consecutive
month, with the Dow Jones Industrial Average reaching a record in
September – the first since January – inching closer to the 27,000
mark. The S&P 500 was also up, while the Nasdaq Composite was
down just slightly by 0.8 percent. September was marked by another
milestone, as the Federal Reserve raised rates by a
quarter-percent, which is the first time the Fed raised rates over
2 percent since the government’s intervention in 2008. While the
markets remained high, October brings a new season of earnings and
midterm election campaigning that will likely take a greater
note.
About the IMX
The IMX value is calculated based on a complex proprietary
formula. Each month, TD Ameritrade pulls a sample from its client
base of more than 11 million funded accounts, which includes all
accounts that completed a trade in the past month. The holdings and
positions of this statistically significant sample are evaluated to
calculate individual scores, and the median of those scores
represents the monthly IMX.
For more information on the Investor Movement Index, including
historical IMX data going back to January 2010; to view the full
report from September 2018; or to sign up for future IMX news
alerts, please visit www.tdameritrade.com/IMX. Additionally, TD
Ameritrade clients can chart the IMX using the symbol $IMX in
either the thinkorswim® or TD Ameritrade Mobile Trader
platforms.
Inclusion of specific security names in this commentary does not
constitute a recommendation from TD Ameritrade to buy, sell, or
hold.
Past performance of a security, strategy, or index is no
guarantee of future results or investment success.
Historical data should not be used alone when making investment
decisions. Please consult other sources of information and consider
your individual financial position and goals before making an
independent investment decision.
The IMX is not a tradable index. The IMX should not be used as
an indicator or predictor of future client trading volume or
financial performance for TD Ameritrade.
For the latest TD Ameritrade news and information, follow the
company on Twitter, @TDAmeritradePR.
Source: TD Ameritrade Holding Corporation
About TD Ameritrade Holding CorporationTD Ameritrade
provides investing services and education to more than 11 million
client accounts totaling more than $1.2 trillion in assets, and
custodial services to more than 6,000 registered investment
advisors. We are a leader in U.S. retail trading, executing an
average of more than 780,000 trades per day for our clients, more
than a quarter of which come from mobile devices. We have a proud
history of innovation, dating back to our start in 1975, and today
our team of nearly 10,000-strong is committed to carrying it
forward. Together, we are leveraging the latest in cutting edge
technologies and one-on-one client care to transform lives, and
investing, for the better. Learn more by visiting TD Ameritrade’s
newsroom at www.amtd.com, or read our stories at Fresh
Accounts.
1TD Ameritrade, Inc. is a broker-dealer subsidiary of TD
Ameritrade Holding Corporation. Brokerage services provided by
TD Ameritrade, Inc., member FINRA (www.FINRA.org) /SIPC
(www.SIPC.org).
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TD Ameritrade Holding CorporationFor Media:Melissa
Matson, 201-369-5933Corporate
Communicationsmelissa.matson@tdameritrade.com@TDAmeritradePRorFor
Investors:Jeff Goeser, 402-597-8464Investor
Relationsjeffrey.goeser@tdameritrade.com
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