its risky to anticipate further qe, page-19

Len-hun,

Just a rookie trying to rack your brain and wanting clarification on this statement...

In regards to my chart and T/A I see a wedge which has formed but it is neither bullish or bearish as it has not formed in a DOWNTREND or in middle of an UPTREND it has formed right at the top of an UPTREND

If a pennant has formed, how is this the TOP of an uptrend? Would you only know that it has formed in the middle IF the trend continues? ie. the pennant forms which therefore slows down the up trend? Or are you saying it is no longer in an uptrend?

Cheers and thanks.