Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

QCOM/QLGC trading only the intraday charts here for the BEST setup not SCALPING until certain areas of resistance are taken out to upside. Trade the charts not the prognostications. Because stocks like CSCO, QCOM and QLGC are bouncing at intraday support chances are they COULD take out overhead resistance (proving very strong resistance is the 50 ma on the 5-minute chart in particular) Might have to wait until doldrums are over for any real direction or wait for the 50 ma to be taken out, whichever comes first. The bias as you can see is to the UPSIDE as its trading higher highs and higher lows an in ascending trading channel from morning support levels.