Index Relative Strength
Trade Followers computes index strength scores for several indexes and ETFs.
The index relative strength page lists them in one view so you can compare their performance on Twitter over multiple time frames.
The ETFs listed (DIA, IWM, QQQ, SPY) are widely used as trading vehicles and as a result their scores reflect actions and opinions of traders.
These actions tend to be shorter term in nature and can alert you to smaller moves in the market.
Investors and money managers more often tweet using the index symbols (COMP, NDX, RUT, SPX).
As a result, the strength scores for these symbols show sentiment over the intermediate to long term.
In the chart above you can see an example where market participants had doubts about small capitalization stocks making a larger term top.
This is based on tweets for the Russell 2000 Index using the symbol RUT.
During the same time period traders tweeting the symbol IWM for the small cap ETF were positive over time periods less than a month,
which signaled they were buying the dip.
When money managers are rotating from small capitalization stocks to large caps the relative strength list will show DIA and SPX with higher
strength scores than RUT and IWM. Rotation from large caps to mega caps is indicated when DIA shows high relative strength. When NDX, COMP,
and QQQ are leading it suggests investors and traders favor technology.
The list can be sorted by time frame by pressing the frequency links in the menu bar (i.e. 1 Day, 1 Week, etc.).
A quick way to see what happened in the market each day after the close is to look at the Index Strength scores for one day.
Sorting by longer time frames helps to identify trends.