12Oct10:42 amEST

Young Prospects Coming of Age

Using Facebook in 2013 as a blueprint of sorts, the likes of Snapchat and Twitter, among others, can only hope to emulate FB's subsequent share price action up until the present. 

SNAP notably perked up yesterday, with the numerous short-sellers in its float suddenly not feeing quite so comfortable. And now we have TWTR, below on the daily chart sporting a cup and handle bullish setup, charging ahead this morning amid a soft tape in front of earnings on October 26th. As you can see, further strength leads to a likely $19.27 gap-fill above. 

Those earnings, however, will surely prove to be another monumental test for Twitter in what has been a series of mishaps dating back several years now, be it botched M&A potential last year and countless earnings calls which clearly missed the mark. 

But sooner or later, as long as TWTR remains at the forefront for real-time social action, it should come out of its shell and surprise to the upside. 

As for the tape, overall, the small caps in the IWM ETF continue to base out sideways with little giveback from its strong prior advance. Bears will need to inflict much more selling to change that dynamic anytime soon. 

Stock Market Recap 10/11/17 ... Competing Forces


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