Big Summer for Big Blue

IBM, being the second most heavily-weighted Dow component and Nifty Fifty relic, is still relevant through no fault of its own. 

On the updated monthly chart, below, "Big Blue" may finally be ripe to make its next big move after a steep breakdown to conclude 2014 and confirm a major topping patter, followed by a multi-month grind higher to the scene of the breakdown this year. 

I still favor a resumption of the bear trend since mid-2013, potentially taking the stock down to $130 or so. Either way, after being quiet for a while now I suspect it will be a big summer for Big Blue.