TD Ameritrade Investor Movement Index: D.C. & the Dow Drove Activity in January

Retail investors were net buyers amid inauguration & index highs

OMAHA, Neb.--()--TD Ameritrade, Inc. (“TD Ameritrade”), a broker-dealer subsidiary of TD Ameritrade Holding Corporation (Nasdaq: AMTD), is today releasing the Investor Movement Index® reading for January 2017.

“They took profits on some stocks, but overall they increased their exposure to the markets. And looking ahead, there are still plenty of big names left to report this earnings season and retail investors are watching closely.”

The Investor Movement Index, or the IMXSM, 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 January 2017 Investor Movement Index for the four weeks ending January 27, 2017, reveals:

  • Reading: 5.71 (compared to 5.48 in December)
  • Trend direction: Positive
  • Trend length: 1 month
  • Score relative to historic ranges: High

The IMX increased 4.20 percent as the major indices marched to new all-time highs and the Dow Jones Industrial Average finally closed above its much-anticipated 20,000 milestone. TD Ameritrade clients were net buyers of equities and increased their equity exposure throughout the month.

“As markets pressed to new record levels in January, retail investors continued to look for opportunities to rotate into,” said Nicole Sherrod, Managing Director of the Trader Group. “They took profits on some stocks, but overall they increased their exposure to the markets. And looking ahead, there are still plenty of big names left to report this earnings season and retail investors are watching closely.”

TD Ameritrade clients were net buyers of banks in the January IMX period. JP Morgan Chase & Company (JPM) and Bank of America Corp. (BAC) were both net buys as they recently beat earnings and benefitted from rising interest rates. Nvidia Corp. (NVDA) was a net buy for the second month in a row as shares appeared to stabilize following a volatile December. Teva Pharmaceutical Industries Ltd. (TEVA) and Dry Ships Inc. (DRYS) were also net buys, both of which have seen recent volatility. Net buying continued in Inc. (AMZN) as well. Additional popular names bought included Chesapeake Energy Corp. (CHK) and Macy’s, Inc. (M).

Apple Inc. (AAPL) was once again net sold during the January IMX period as the stock reached a new 52-week high. Tesla Motors, Inc. (TSLA) and Alcoa Corp. (AA) were also net sold as their share prices posted significant increases during the period. Walt Disney Co. (DIS) and Yahoo! Inc. (YHOO) were net sold as each reached new year-to-date highs in January. Chipotle Mexican Grill, Inc. (CMG) and Alibaba Group Holding Ltd. (BABA) were both net sold following share price increases after volatility over the past few months. Additional popular names sold include Kinder Morgan Inc. (KMI), Arconic Inc. (ARNC) and ConocoPhillips Corp. (COP).

About the IMX

The IMX value is calculated based on a complex proprietary formula. Each month, TD Ameritrade pulls a sample from its client base of 6 million funded accounts, which includes all accounts that completed a trade in the past month. The holdings and positions of this statistically significant sample are evaluated to calculate individual scores, and the median of those scores represents the monthly IMX.

For more information on the Investor Movement Index, including historical IMX data going back to December 2010; to view the full report from January 2017; or to sign up for future IMX news alerts, please visit Additionally, TD Ameritrade clients can chart the IMX using the symbol $IMX in either the thinkorswim® or TD Ameritrade Mobile Trader platforms.

Inclusion of specific security names in this commentary does not constitute a recommendation from TD Ameritrade to buy, sell, or hold.

Past performance of a security, strategy, or index is no guarantee of 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 individual financial position and goals 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 client trading volume or financial performance for TD Ameritrade.

For the latest TD Ameritrade news and information, follow the company on Twitter, @TDAmeritradePR.

Source: TD Ameritrade Holding Corporation

About TD Ameritrade Holding Corporation
Millions of investors and independent registered investment advisors (RIAs) have turned to TD Ameritrade’s (Nasdaq: AMTD) technologypeople and education to help make investing and trading easier to understand and do. Online or over the phone. In a branch or with an independent RIA. First-timer or sophisticated trader. Our clients want to take control, and we help them decide how – bringing Wall Street to Main Street for more than 40 years. TD Ameritrade has time and again been recognized as a leader in investment services. Please visit TD Ameritrade's newsroom or for more information, or read our stories at Fresh Accounts.

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