Tuesday, March 10, 2009

IBM again...

Another look at IBM..should be key for the general market as it has huge weighting in DOW (banks are now mostly INSIGNIFICANT).

We had a break below the trend channel (looks more like a BEAR flag) which if it is the case does not bode well for overall market. Flags fly at half a crude price projection would be 37!!! Watch 82 level if it breaks we should get a quick move to 70's

Obviously if we hold at 82 and rally then look for resistance at trend channel...

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