TD Ameritrade's Investor Movement Index: IMX Reading Drops to Lowest Level since January 2013


TD Ameritrade's Investor Movement Index: IMX Reading Drops to Lowest Level since January 2013

Investors dialed back their equity market exposure as S&P 500 rallied to a record high in July

OMAHA, Neb.--(BUSINESS WIRE)-- TD Ameritrade, Inc. ("TD Ameritrade"), a broker-dealer subsidiary of TD Ameritrade Holding Corporation (NYS: AMTD) , is today revealing the Investor Movement IndexSM reading for July 2013. 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 July 2013 Investor Movement Index for the four weeks ending July 26, 2013, reveals:

  • Reading: 4.87 (compared to 5.15 in June)

  • Trend direction: Negative

  • Trend length: 1 month

  • Score relative to historic ranges: Moderately High

July's IMX reading marks a turn in a negative direction after a positive turn taken in June but remained at a moderately high level compared to its three and a half year history. Clients dialed back their equity market exposure in July and were net sellers of equities. The S&P 500 rallied to a record high in July following a dip in June. Clients were net buyers on the dip last month but as markets rallied to record territory clients seemed to anticipate a pullback and were net sellers of most market sectors in July. Like last month, clients were net sellers of fixed income mutual funds and fixed income ETFs, but the level of net selling activity decreased month over month.

"Over the last few months with the markets in record territory clients have expressed some hesitancy to increase exposure," said Steve Quirk, senior vice president of TD Ameritrade's Trader Group. "Clients are managing their risk at these levels by taking profits in some symbols, rotating to others when price dips indicate potential opportunities."

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 that includes all accounts that completed a trade in the past two months. 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 July 2013, 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.

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.


About TD Ameritrade Holding Corporation
Millions of investors and independent registered investment advisors (RIAs) have turned to TD Ameritrade's (NYS: AMTD) technology, people 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 37 years. An official sponsor of the 2014 and 2016 U.S. Olympic and Paralympic Teams, TD Ameritrade has time and again been recognized as a leader in investment services. Please visit TD Ameritrade's newsroom or for more information.

Brokerage services provided by TD Ameritrade, Inc., member FINRA ( ( (

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