IBM, also known as big blue, is weighing on the market with a gap down and 52-week low. This is not the first sign of weakness though. Notice that the stock peaked way back in March and its 50-day crossed below its 200-day in early August. The price relative (IBM:SPY) ratio also hit a new low.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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