IMX Indicates Retail Investors Slightly More Bullish Than April

TD Ameritrade AMTD released its Investor Movement Index (IMX) Monday afternoon. The index is widely respected measure of trader sentiment.

The IMX was steady in May at 5.69, versus 5.67 in April. The flat reading indicates that investors are roughly as bullish as they were one month before. The report goes on to state that the general trend was the sales of stocks that popped higher and the addition up positions that were weak during the period. Furthermore, Chief Strategist JJ Kinahan commented, “With no major changes, it seems clients are working the market to set up positions and take profits but still with an overall bullish sentiment.”

Net buys for the month include Twitter TWTR, Yahoo YHOO, Whole Foods Market WFM, Amazon AMZN, Bank of America BAC and Prospect Capital PSEC.

The largest net sell for TD Ameritrade clients during May was Apple AAPL. Other notable sales include Coca Cola KO, Cisco CSCO, Intel INTL, JC Penney JCP, Sirius SIRI, McDonald’s MCD and American Airlines AAL.