Market Analysis for Oct 5th, 2005

The Qs continue to grind higher off their earlier intraday low at 38.98, to 39.20 so far. However, from my technical perspective, only a rally that hurdles 39.34 will trigger signals that indicate the establishment of a significant low at 38.98. Furthermore, the fact that the Qs have been rallying during the mid-portion of the trading session after experiencing a weak morning could be a set-up for a last hour pivot to the downside to continue the dominant downmove off of yesterday's high at 39.88.

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