Birds Causing Some Panic

On an otherwise slow, summer Monday morning, the persistent weakness in both commodities and the share price of Twitter is noteworthy. 

Regarding TWTR, the stock is down more than 6% as I write this, with price finally back to, and undercutting, the May 2014 low of $29.51. Clearly, the stock is a bit short-term oversold (as per Bollinger Band analysis), and sentiment sure seems to be flipping rather dour. 

Day-traders will likely take a shot at this level But at a minimum, the May 2014 lows should serve as a good litmus test as to whether "strong hands" await a cathartic washout, or instead of the Bird will wander aimlessly into the teens in the coming months. 

There are a few other litmus tests we are looking at inside Market Chess Subscription Services, which I will run through for Members in my usual Midday Video, filming now.