The earnings report in IBM yesterday actually supported the bigger picture bullish setup in this stock. I still have higher targets in this stock. Target 1 remains at the 219 handle. What I am interested in at this point is the pullback zone at the 200.97-202.62 area. This zone includes 3 100% projections of prior declines along with a .382 retracement. If we can pull back into this key support decision I will once again start looking for my buy triggers. Remember if there is no trigger to indicate an entry, stand aside and wait for the next setup instead!