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TD Ameritrade Clients Bought Tech And Consumer Discretionary Stocks In September

TD Ameritrade’s Investor Movement Index (IMX) — a monthly behavior-based index that indicates the attitude of retail investors — reached a “Middle” ranking in September compared to historic averages. 

The IMX increased to 5.71 in September, up 15.82% from its August score of 4.93. The index goes up when clients are net buyers and goes down when clients are net sellers.

Towards the beginning of the month, the S&P 500 and Nasdaq Composite reached all new highs, yet these gains didn’t last for long. On September 4th, the Nasdaq fell 5% leading a market decline across all U.S. stock indices. Losses continued later in the month as hopes for a second stimulus package began to dwindle and a second wave of coronavirus cases began to …

Full story available on Benzinga.com