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Update on Two Widely-Watched Stocks Today

The first chart below is the daily timeframe of Google. The marquee stock is still correcting, even with earnings out of the way. I am watching $760 as the downside support level needing to hold in order for bulls to keep the falling channel (highlighted on the chart) contained.

The next chart is s long-term, monthly look at IBM, obviously a drag on the Dow Jones Industrial Average today after earnings last night. The decade-long breakout remains clearly intact. However, the price action is starting to get sloppy up here and a deeper correction is now a distinct possibility to work some of the steep move higher since 2010.






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