Mood!

Thursday, February 19, 2009

Heavyweight..



with markets still in indecision mode...looking at IBM to see if any clues as to next move.

Looks like it has been tracing out a flag formation..lower boundary around 87...

a clear break below there would be trouble for the broader market...

obviously a clear break above 99..would be bullish...

we got to the top of the wedge a week ago and immediately fell..gap open may need to fill before moving lower

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