IMX reaches a second milestone this year,
setting a new all-time-high reading
The July 2017 Investor Movement Index® reading set a new
all-time-high record of 7.09, a mere five months after passing 6.0
for the first time in the history of the IMX, TD Ameritrade, Inc.
(“TD Ameritrade”), a broker-dealer subsidiary of TD Ameritrade
Holding Corporation (Nasdaq: AMTD), 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 are actually doing
and how they are positioned in the markets.
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TD Ameritrade July 2017 Investor Movement
Index (Graphic: TD Ameritrade)
The July 2017 Investor Movement Index for the four weeks ending
July 28, 2017, reveals:
- Reading: 7.09 (compared to 6.58 in
June)
- Trend direction: Positive
- Trend length: 3 months
- Score relative to historic ranges:
High
July marked a historic milestone for the IMX as it crossed 7.0
for the first time ever, in part due to retail investors’ bullish
activity. TD Ameritrade clients were net buyers for the sixth
consecutive month, seemingly positioning their accounts for
increased exposure through equities, such as Amazon (AMZN) and
Tesla (TSLA). Over this same period, major market indices climbed
to new highs – Nasdaq, S&P 500 and Dow Jones Industrial Average
posted positive gains – earnings reports were positive with over 70
percent of S&P 500 companies beating analyst estimates, and the
VIX touched an all-time low of 8.84. Investors who closely followed
the markets in July may have seen these events as opportunity to
stay engaged and potentially grow their portfolios.
“As market indices reached new highs, we saw the IMX also reach
new levels – breaking the 7.0 point for the first time ever,” said
JJ Kinahan, chief market strategist at TD Ameritrade. “An
indication that retail investors wanted to continue their
involvement in this rally by slowly dialing up exposure to the
equity market.”
For a third month, technology stocks were among TD Ameritrade
clients’ top buys. Amazon Inc. (AMZN) and Microsoft Inc. (MSFT)
were net bought, as each posted record highs, and Amazon CEO Jeff
Bezos briefly replaced Bill Gates as the richest person in the
world. Tesla Inc. (TSLA), which experienced volatility during the
period as consumers awaited the release of the new Model 3, was
also a net buy. Alibaba (BABA), which was said to be in talks
regarding a funding round in Indonesia’s largest online
marketplace, Tokopedia, was net bought. Consumer Defensive names
Rite Aid Corp. (RAD) and Costco Wholesale Corp. (COST), each of
which saw a pullback in share price during the period, were net
buys. Nvidia Inc. (NVDA) was net bought after the shares posted an
all-time high during the period. Additional popular names bought
include AT&T Inc. (T), General Electric Inc. (GE) and Alphabet
Inc. (GOOG).
Despite net buying, TD Ameritrade clients chose to sell select
stocks during July. Nike Inc. (NKE) was net sold after announcing
it was starting a pilot program to sell directly through Amazon and
reporting stronger than expected earnings. Alcoa Corp. (AA) and
Arconic Inc. (ARNC) were net sold, as each saw positive upward
momentum during the period. General Motors Co. (GM) was net sold
following a better-than-expected quarterly net profit, which was
helped by cost cuts and a promise to cut production. Wells Fargo
& Co. (WFC), which announced its plans to refund over 500,000
auto loan consumers for improper charges on auto insurance, was
also net sold. Twitter Inc. (TWTR), which saw volatility late in
the period after a poorly received quarterly report, was a net
sell. Additional names sold include Caterpillar Inc. (CAT) and
Mobileye (MBLY).
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 7 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 December 2010; to view the full
report from May 2017; 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 Corporation
Millions of investors and independent registered investment
advisors (RIAs) have turned to TD Ameritrade’s (Nasdaq:
AMTD) technology, people and education to help
make investing and trading easier to understand and do. Online or
over the phone. In a branch or with an independent RIA. First-timer
or sophisticated trader. Our clients want to take control, and we
help them decide how - bringing Wall Street to Main
Street for more than 40 years. TD Ameritrade has time and
again been recognized as a leader in investment services.
Please visit TD Ameritrade’s newsroom or www.amtd.com for
more information, or read our stories at Fresh Accounts.
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:Christina Goethe,
201-369-8510Communications & Public
Affairschristina.goethe@tdameritrade.com@TDAmeritradePRorFor
Investors:Jeff Goeser, 402-597-8464Investor
Relationsjeffrey.goeser@tdameritrade.com
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