EarningsBeats Digest

Published: Wed, 05/25/22

EarningsBeats.com Digest for May 25, 2022

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Knowing Historical Trends Will Make You A Better Trader

Thursday, May 26th at 4:30pm ET

Tom Bowley, Chief Market Strategist, has been tracking daily S&P 500 performance since 1950. Given his background as a former practicing CPA, Tom spent years analyzing this data to better understand historical tendencies to improve his trading success. In this information-packed webinar, you'll learn:

To differentiate between strong and weak historical periods
To assess the psychological implications of history
To understand the impacts of historical performance on bull markets and bear markets
To use all of this information to generate higher profits

This is a members-only event, including those on trial. Sign up for our FREE 30-day trial to reserve your seat. The session will be recorded for those unable to attend live.

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Is Big Blue Finally Ready To Make A Move?

Over a 6-year period in the 1990s, IBM jumped from a low of 5.88 in August 1993 to a high of 80.56 in 1999. IBM was one of the best investments of the 1990s. But my how things have changed. It took IBM another 11-12 years to finally clear that 1999 high and its subsequent high - 143.60 in March 2013 - still has not been cleared 9 years later in one of the best bull markets of our lifetime. Here's a recent look at Big Blue:

There are a couple positives on the above 6-month daily chart right now, however. First, IBM gapped up nicely with its latest quarterly earnings report and successfully tested gap support. Second, the PPO is beginning to turn higher from just above the centerline. Finally, the RSI has been holding at 40, which is typical during an uptrend. Now that IBM has climbed back above its 20-day EMA, it'll be interesting to see if it can hold there. If not, gap support at 127.60 should hold as it did last Friday. Relative strength has improved significantly as well, adding further support to the notion that IBM is becoming a leader once again, after many years of underperformance.

Happy Trading!

Tom Bowley
Chief Market Strategist

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