Looking at IBM I see a bullish divergence on the Apel MACD settings setting up. Heads up for a move upward here. Note the upward divergence on the MACD. I will add the 2nd Butterfly @ 127.50 on a close at that level. IBM continues within its rangebound area. Apels settings for the MACD are 19/39/9 which catches the longer term momentum. I am finding that using the lows or highs of this MACD setting and then lining them up with the high and low prices gives great support and resistance locations. Price action though trumps the MACD.
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