OMAHA, Neb.–(BUSINESS WIRE)–The Index of Investor Movements^® (IMX℠) fell to 6.42 in March from 6.79 in February. The IMX is TD Ameritrade‘s proprietary behavioral-based index, aggregating the positions and activity of Main Street investors to measure what investors were actually doing and how they were positioning themselves in the markets.

The reading for the four-week period ending March 25, 2022 ranks “moderate” compared to historical averages.

“In March, TD Ameritrade clients showed strong buying interest in the consumer discretionary, financials and industrials sectors, while selling was strong in the energy, information and materials technologies,” according to Shawn Cruz, director of derivatives strategy, TD Ameritrade. “While TD Ameritrade clients were net buyers of equities in March, as would be expected during uncertain times, levels were below recent IMX periods, and fixed income products were also bought. net during the period.”

At a sector level, the performance of the S&P 500 was mixed in March, with only energy, utilities and real estate remaining in positive territory throughout the period. The remaining sectors struggled early in the month before rebounding to end the period with all sectors in positive territory. Interest rates were particularly volatile but rose steadily throughout the month, with some areas of the Treasury yield curve inverting to some degree. There was plenty of interest rate news to digest in March as the Federal Reserve approved its much-anticipated rate hike at its March meeting in addition to updating its economic forecast. On the geopolitical front, the conflict between Russia and Ukraine has escalated further, leading to a spike in commodity prices, including the largest weekly increase on record by any index. Despite many sources of concern on many fronts, equity markets ended the month in positive territory, with the S&P 500 breaking out of the corrective territory it hit in February.

The month started with strong demand for equities which quickly faded before turning into outright selling. However, demand for equities picked up slightly at the end of the month and, ultimately, TD Ameritrade clients were net buyers during the period. Some of the popular stock names bought in March were:

• Apple Inc. (AAPL)

• Meta Platforms Inc. (FB)

• Tesla Inc. (TSLA)

• Intel Corp. (INTC)

• Shopify Inc. (SHOP)

Names sold during the period included:

• Chevron Corp (CVX)

• Exxon Mobil Corp. (XOM)

• Nucor Corp. (NUDE)

• United States Steel Corp. (X)

• Moderna Inc. (ARNM)

About IMX

The IMX value is calculated based on a complex proprietary formula. Each month, TD Ameritrade pulls a sample of its funded account customer base, which includes all accounts that have transacted in the previous month. The holdings and positions of this statistically significant sample are evaluated to calculate the individual scores, and the median of these scores represents the monthly IMX.

For more information on the Investor Movement Index, including historical IMX data dating back to January 2010; to view the full March 2022 report or to sign up for future IMX news alerts, please visit www.tdameritrade.com/IMX. Additionally, TD Ameritrade clients can plot IMX using the symbol $IMX in the thinkorswim^® or thinkorswim mobile platforms.

The inclusion of specific security names in this commentary does not constitute a buy, sell or hold recommendation by TD Ameritrade. All investments involve risk, including possible loss of principal. Please consider all risks and objectives before investing.

Past performance of a security, strategy or index does not guarantee future results or investment success. Historical data should not be used alone when making investment decisions. Please consult other sources of information and consider your financial situation and objectives before making an independent investment decision.

The IMX is not a tradable index. The IMX should not be used as an indicator or predictor of future trading volume or financial performance of clients for TD Ameritrade.

About TD Ameritrade

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