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TD Ameritrade's IMX Vs. S&P 500 (Graphic: TD Ameritrade)

TD Ameritrade, Inc. (“TD Ameritrade”), a broker-dealer subsidiary of TD Ameritrade Holding Corporation (NYSE: AMTD), is today releasing the Investor Movement Index ® reading for July 2014. The Investor Movement Index, or the IMX sm, 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.

The July 2014 Investor Movement Index for the four weeks ending July 25, 2014, reveals:

  • Reading: 5.85 (compared to 5.67 in June)
  • Trend direction: Positive
  • Trend length: 1 month
  • Score relative to historic ranges: High

The IMX remained relatively flat from April 2014 through June 2014, but then jumped higher in July and came in at 5.85, which was near the March 2014 high of 5.87. TD Ameritrade clients increased their equity market exposure in July as new all-time highs were hit by major indexes including the S&P 500, Nasdaq Composite, Dow Jones Industrials, and the Russell 2000. Volatility remained low in the large cap indexes, as they seemed range-bound amid geopolitical tensions related to Ukraine and the Middle East. However, the Russell 2000 small cap index had declined 6 percent as of July 25 from the July 3 high.

“We saw individual investors increase their exposure to the equity market in time with the major indexes at record highs,” said JJ Kinahan, chief strategist, TD Ameritrade. “Our clients have been engaged and logging into their accounts ready to react to the latest earnings announcements and market events.”

Net buying activity was spread across several sectors in July, and clients were net buyers overall. GoPro (GPRO), which held its IPO at the end of June, was a popular buy as clients began to build positions in it. Gilead Sciences Inc. (GILD) dipped in July, but then continued its trend higher as clients bought shares of the biotech firm. Clients were also net buyers of Yahoo Inc. (YHOO), which has been range bound for the last few months. Another popular buy was Whole Foods Market (WFM); the stock continued to trade lower in July and some clients treated the decline as a buying opportunity, adding shares to their portfolios.

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