Investor Movement Index
a.k.a. IMX
A monthly gauge from broker TD Ameritrade of how its retail clients were positioned in the stock market.
In plain English
A monthly gauge from broker TD Ameritrade of how its retail clients were positioned in the stock market.
The Investor Movement Index used the real holdings and trades of TD Ameritrade clients to estimate whether retail investors were adding or reducing exposure to the market.
After Charles Schwab bought TD Ameritrade, Schwab introduced its own similar gauge. Either way, it is a sentiment tool: a read on what the crowd is doing, not where prices will go.
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