  In [CPR2], we presented a K-theoretic approach to finding invariants of
algebras with no non-trivial traces. This paper presents a new example that is
more typical of the generic situation. This is the case of an algebra that
admits only non-faithful traces, namely SU_q(2), and also KMS states. Our main
results are index theorems (which calculate spectral flow), one using ordinary
cyclic cohomology and the other using twisted cyclic cohomology, where the
twisting comes from the generator of the modular group of the Haar state. In
contrast to the Cuntz algebras studied in [CPR2], the computations are
considerably more complex and interesting, because there are nontrivial `eta'
contributions to this index.
