Market Analysis for Apr 25th, 2005

For today's Mid-Day Minute, Mike writes: For the past 3 hours, the e-SPM has been consolidating between 1166 and 1161, in what resembles a bull flag pattern atop the upmove off of Fri.'s pivot low at 1143.75. Based on the bull flag analysis, the e-SPM should thrust to the upside into new high ground in the vicinity of 1168-1171 to complete the current upleg- and also complete the enter counter-trend rally phase off of the 1135.75 low from one week ago. At this juncture, only a break below 1160 will compromise the still constructive near term chart pattern. MJP 04/25/05 2:15 PM ET (1163.25)

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