QCOM has been on my watch list and recently posted a chart but was not ready to initiate a position. QCOM is overbought on several chart times frames and various indicators on a bear market rally which lifted all stocks. I believe the rally will fade and ultimately print new lows. QCOM needs to break past the cloud and hold which I don't believe it will, this along with the VIX which is oversold we likely will reverse course. I will be looking for a gap up or spike to start a short position Monday.