Sunday, July 25, 2010

Another Clue

Take the time to look at a chart of IBM. You will see a flat correction in progress. IBM is close to breaking out in wave c of B up to around 140. This will get everyone excited, but should lead to a probable let down as wave C down to below 116 will quickly follow. This is a very clear pattern that has been setting up for weeks. It is slightly possible that this is a triangle, but it really doesn't have the characteristics of a triangle. So, we have another clue as to the completion of wave B up for the markets when IBM hits 140+/-.

Now, my friends, please tell me how we are at the beginning of a new bear market decline if IBM is in the middle of a flat correction that will complete by late September or early October to be followed by new highs?

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