Elliott Wave Training

Are you looking to learn the Elliott Wave principle? Or maybe you already have some experience and want to find the ways to improve your skills better.

Click on this post for details:

http://wavepatterntraders.blogspot.com/2012/04/elliott-wave-training.html



Showing posts with label IBM. Show all posts
Showing posts with label IBM. Show all posts

Friday, April 19, 2013

Elliott Wave Analysis of IBM

With earnings out after the close on Thursday the potential now is a for a substantial reversal, i have been waiting for the release before i would make a strong conclusion as to where i think the stock is heading next.

The potential now for a strong decline is very real and one that swing traders can take advantage of, with the stock likely to open around the $200 area, the bears now need to see a substantial break here and really confirm the long term peak in place.



The advance from the 2009 lows counts well enough for a completed 5 wave impulse wave and it also appears that it has ended on a triangle "thrust" for wave [5] of what i believe is a larger wave C.


Short term i suspect the decline after hours is potentially a small "3rd of 3rd" so inside a 3rd wave, and more gyrations needed to complete a larger 5 wave decline from its  all time high at $216, its important now for the bears to hold it under $206 and the sellers to arrive and push it lower.

If that is the case and we have a meaningful top in place, things are just getting started.



If we take a look at the long term view, the potential for a very important top is serious enough to warrant watching.

If it has put in a serious top, the decline from here is likely in the order of what happened to AAPL.

Get the popcorn, this could be a great ride.

Edit - If the gap down today holds, the alt idea (which was my orignal preferred idea) is wave 4 of an ending diagonal, so rallies back above $206 then onwards to new ATH for wave 5 of the ED



 

Monday, February 6, 2012

Elliott Wave Analysis of IBM



Anyone that follows stocks knows that IBM is to the DOW what AAPL is to the NDX

What that means is because the weighting affect, the DOW gets a considerable boost when its in sync with the main weighted stocks just as IBM as its around 10-11% last time i checked

http://indexarb.com/indexComponentWtsDJ.html

So if its working an Ending Diagonal, then we could be days away from an important major high and one that could surprise many holders of this stock Warren Buffett anyone?

I have posted 2 Ending Diagonal set ups on US stocks those were AMZN and NFLX, you can read those in the articles i have written.

NFLX was at 300 when i suggested that is was ready to roll over, of course the rest is history as it went as low as $65

AMZN the same again, as to this day the highs have not been seen and we are trading at $187 i posted the setup to get out of AMZN when it was trading at $245

I have no reason to think this one will not go the same way, as you can clearly see an Ending Diagonal present, so if my interpretation is correction then we are setting up for an aggressive reversal