I am not sure what to call this strength in the Qââ,¬â"¢s off of this morning's low at 36.31, but the intraday pattern does not exhibit bullish form.  In other words, I do not interpret this action as the end of a correction and the start of a new upleg. What is it then?

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.