Market Analysis for Apr 27th, 2005

For today's Mid-Day Minute, Mike writes: The Q's pattern remains messy, still counter-trend, but incomplete to the upside- according to my work. If that proves accurate, then the upmove that started after this AM's low at 34.73 should climb at least to test the April resistance line, which cuts across the price axis this PM at 35.60, and could pop to new recovery highs in the 35.80 area prior to my expectation of a nasty downside pivot reversal that initiates the next downleg in the dominant, intermediate term downtrend. For now, however, my near term work points to additional upside grind, which is keeping me probing the long side for "swing trades." MJP 04/27/05 12:20 PM ET 35.11

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