Market Analysis for Dec 8th, 2004

Earlier today the Qs established a two-day low at 39.50 and have recovered to the 39.90 resistance area -- and the area of yesterday's breakdown. Purely from a technical perspective, the Qs should run out of gas in and around 39.90-40.10 and then roll over into a nosedive that tests and likely breaks 39.50. A break below 39.75 will trigger signals that the recovery rally from 39.50 is over.

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