Some musings on IBM posted on @seeitmarket

enjoy .. this one has been very interesting to watch.

IBM Stock Update: Is A Breakout Underway?

follow the link above:

• note the PATTERN held … again, we know nothing about the fundamentals of IBM. Just numbers …
• note the .618 retrace of the relative strength held .. in the minds of the traders, they shifted to IBM outperforming at the EXACT .618 retrace
• note the BIG GAP that it hit today and fell … it’s going to be tough to overcome a 7 dollar gap but time will tell.

enjoy and let me know if you have any questions.

Bart

Author: BART

BART is a CMT and an expert a "advanced" pattern recognition used w/in the intermarket analysis discipline. He's also an accomplished Business Development Executive providing solutions to a myriad of business markets. View all posts by BART