Twitter update

In my previous post on TWTR, I modeled a thrust down to $35.80 as the next step in a larger decline.  Check out the right hand model in the 5 minute chart to see how that was expected to take place.  Now compare to actual shown below.  wave 1 of 3 bottomed at $35.95.  Then we got a big A-B-C which, although expected, was not shown in the prior model.  Now I think TWTR is sitting at 2 of 3.  If this model is correct, the chart should roll over pretty hard.  It could also be that it is working on 3 of 5 of C which, if it is the case, should play out tomorrow and then still have time to turn down (opening pop and then AM reversal).

If this is correct we should be seeing some good selling begin in all of the social media stocks this week.