Have been playing w/ IBM for a while. You can 'search' IBM on the page or this is a pretty good link to show some interesting vibrations/waves w/in IBM. Frankly, I had forgotten about some of the work I had done on IBM.
Anyway, IF long IBM THEN look at taking some profit per the target below or tighten the stop. Or, SHORT IBM and get out once price goes above 286.50. Remember, folks, it's all probability sometimes they work and sometimes they don't.
EFA has multiple confluent projections and extensions in the 89-93 area. This should prove to be major resistance for now. Additionally, take note of the blue highlighted 3 drives to a top pattern. The key to this pattern - note the 'time' component between the drives. The time and price symmetry is very nice. If we make it thru the top of the sell pattern range (approximately 94) then expect price to target in/around 100 which represents the top of the trend channel denoted by the dashed grey trendlines.
We have been watching this chart of BA for a while on the Sunday night show. As I spotted what appears to be the final leg in a 'bearish EWT triangle' I remarked "I wonder how it's going to get up there?" Well, looks like that hasn't been a problem. Short BA in the zone shown and this thesis is wrong w/ a daily close above the red gap area.
Triangles are formed w/ 5 legs labeled a-b-c-d-e. The key is the legs of the triangles are associated w/ .618 the wave before them going in the same direction. That level is 225. However, take note of the gap present right at the .786 retracement level. Certainly could go up there ...
I don't want it to close above the gap level - that will be my stop out point.
