More of the Same for Twitter...or Not

Despite some more slight underperformance by the smaller cap stocks, the mega caps in the Dow and marquee Nasdaq issues like AMZN are leading the bull charge higher today. SBUX is trying to emerge from a multi-quarter correction, while VRX remains a bonafide disaster of a chart. 

But what has piqued my interest today has been the reaction by Twitter's stock after losing the NFL deal to Amazon yesterday. Normally, TWTR would be down 5-10%, or more, after bad news like this, as we have seen many times in the past. 

But TWTR is green here and putting in a potential revere candlestick on the daily chart, below. If TWTR can close at spot price or higher today, it will serve as a preliminary change in character for what has been easily one of the most disappointing, visible stocks the market has seen in a while. 

Also note sentiment seems washed out in TWTR, as hopeful bulls have either already capitulated, seen their call options expire worthless, or simply decided to forever hold their peace and cease discussing the name. Either way, sentiment seems ripe for a surprise rally now. 

More in my usual Midday Video for Members.