24Mar11:18 amEST
Finally Setting Sail
It looks as though the widely-watched upside breakout in TWTR is finally setting sail, gauging the first daily chart, below. Still, I am interested to see if the social stock can close today over the key $50 level, given how anticipated the breakout seems to have been. Also note the stock is poking it upper Bollinger Band already, indicative of short-term overbought conditions.
And the spread between energy stocks and crude oil continues, seen on the XLE energy sector ETF, second daily chart, below. Crude is green while energy stocks are red, again. If USO flips to red today I may go ahead and short that XLE via long ERY, especially with sharp legs down in the likes of WLL today indicting liquidation still going on.