On August 24, 2024 it was noted that contact with the IBM 1987 upper trend line was expected in late August or early September. On August 28, 2024 IBM hit its 1987 37.18 degree trend line shown below. IBM is expected to continue following its 1987 chart structure. When IBM hit its peak on August 21, 1987 it started a decline that ended on October 19, 1987. If a large number of stocks collapse in October, markets will close just as they did in 1987 and brokers will not respond.
Note that this information is for educational purposes only and not a recommendation.
Chart courtesy of StockCharts.com.
