IBM, TSLA update 1/29

IBM: new ticker. analyzed upon member request. The monthly chart gives us a hard time counting the entire price advance since the mid 1970s as an impulse. Instead it counts better as an ABC up, as there’s significant price overlap. Also, the price pattern from 2002 to 2009 counts better as an abc as well. That makes the current advance (yellow “b?”) a b-wave which could target $190s.

Alternatively we’re dealing with a set of nested I,II, 1,2, i,ii waves. But we find that on this time frame less likely.

ibm

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TSLA: Current advance off the december low counts well as an impulse with an extended 5th wave. Looks like minute v of minor 5 is underway to complete all of intermediate i.

 

tsla.png

This means the chart below shows the most likely longer term big picture count. Alternatively wave 1 was wave a, wave 2 was wave b, and now wave c is underway making it a 5-3-5 correction.

tsla-weekly