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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 691.66

-0.1%

Jan 16 4:00 PM EST

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To: JRI who wrote (73406)	3/28/2001 12:30:08 AM
From: waverider	Read Replies (1) of 99985

OK be patient with me on this. My understanding is that an ascending wedge can signal a possible reversal in a downtrend. I know the classic case is bullish only if the situation is in an uptrend already, but there seems to be a chance this particular formation in QCOM is signaling an upside move. Of course if it busts through the roof on heavy volume and does so with some price conviction (5%+?)we'll get a confirmation. Am I seeing this right? BTW I was once in the QCOM cult and have the scars to prove it :) Trying to learn from past mistakes. Let's keep an eye on this and see what happens. <H>

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