Some musings on IBM posted on @seeitmarket
enjoy .. this one has been very interesting to watch.
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.