Market Analysis for Mar 31st, 2005

For today's Mid-Day Minute, Mike writes: Interesting situation here, don't you think? Notice that crude oil peaked on Mar. 17th at 58.16, and declined into yest.'s low at 52.50... BUT, over the same timeframe, the E-mini June S&P ALSO DECLINED (from around 1200 to Tues. low at 1166.75) ! And BOTH markets have been rallying for the past day ! much longer can they travel in tandem? Just a guess- not too much longer. If oil continues higher- and hurdles resistance at 56.50, we have to expect the e-SPM to head south in a hurry- unless of course, tomorrow's Employment Report is so WEAK that investors and fund managers storm into the market because they are convinced that the Fed is nearing the END of its rate hike cycle MJP 03/31/05 1:45 AM ET ($55.70) (1183.50)

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