Pinnacle Resources LP (www.pinnacle-resources.net) Issues Technical & Quantitative Market Update for DIA, SPY, & QQQ

Chicago, IL (PRWEB) October 2, 2003 - Pinnacle Resources LP reports its technical & quantitative model results for the following markets and exchange-traded funds:

DJIA (AMEX: DIA): trading at 107.00% of 200-Day Moving Average

S & P 500 (AMEX: SPY): trading at 107.00% of 200-Day Moving Average

NASDAQ 100 (AMEX: QQQ): trading at 115.00% of 200-Day Moving Average

The historically volatile month of September did not live up to its reputation in the US equity markets. While the equity indexes showed the following month-to-month returns:

DJIA: -1.50%
S & P 500: -1.30%
NASDAQ 100: -2.91%

the overall market volatility was approximately 4.50% for the month of September. This reading is a decrease from the volatility of the normally quiet month of August, which posted a reading of 5.31%.

This steady and slowly decreasing actual volatility, combined with the small negative month-to-month returns on the equity indexes, may explain why the new Chicago Board Options Exchange (CBOE) Volatility Index (INDEX: VIX) has failed to register any indications of 'fear in the marketplace. According to the CBOE, the (INDEX:VIX) stands at 22.72.

Given these observations, the firms proprietary quantitative and technical intermediate term trading model continues to generate a long position for these equity indexes, while the short-term model holds a short position based on recent market price history. The firms proprietary quantitative trading model generates positions when it detects a positive or negative trend in the historical price data series. For more detailed information, visit the market indices and models sections of the firms website located at www.pinnacle-resources.net.

ABOUT PINNACLE RESOURCES LP

Pinnacle Resources LP is an independent equity and derivative securities research and trading firm that distributes daily and weekly market research reports. The strategy and methodology behind these reports reflects a consistent, concise, and disciplined approach to investment and trading analysis.

Investors should be advised that no responsibility is assumed for the use of this material and no express or implied warranties or guarantees are made. The firm does not receive compensation from individuals or firms other than those that subscribe to its services. Facts, opinions and advice are current and are subject to change without notice. Nothing contained herein shall be construed as an offer to buy/sell any commodity, security, option or futures contract. The officers, employees, or managed accounts of Pinnacle Resources LP may have positions in the contracts or securities mentioned herein.

Pinnacle Resources LP
Chicago, IL
www.pinnacle-resources.net