I know it\'s possible to detect up and down e.g.
function handle(delta) {
if (delta < 0) {
alert(\'down\');
} else {
alert(\'up\');
IE supports all of them: mousewheel | onmousewheel which are the event handlers as well as WheelEvent (provides DeltaX, DeltaY, DeltaZ) which is the standard Event and MouseWheelEvent interface, which is also supported in IE9+ (with WheelDelta and number of other x, y coordinates related properties).
Tested on IE11.
Related: Today when the touch events standard finally gets formalized, turned out IE11 already supported most of it: http://blogs.msdn.com/b/ie/archive/2015/02/24/pointer-events-w3c-recommendation-interoperable-touch-and-removing-the-dreaded-300ms-tap-delay.aspx.
Aside: @bob_cobb, you may want to revisit your approved answer in favor of the most voted with most richer details one. This to help future visitor find the correct information and to show you even care for community!