Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Sunday, December 31, 2017

IBM Beginning a Run?

IBM took a nasty fall the first half of the year but after bouncing off the ceiling of its long term brown channel it immediately popped out of its descending blue channel again.



click on image to enlarge




As energetic as IBM has looked for the past several weeks, it may be positioning itself as a contra-market play if the broad market of stocks sell off in the next few months.  IBM is obviously determined to regain its long term ascending black line channel which is an exceptionally tall channel.


Trade well my friends

Alan




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