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.

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