soaringphoenix
03-28-2007, 12:06 PM
AS I SEE IT: Even though the market was lower today it would not be unusual for a market rally later in the week as the Window Dressing time grows near. That said, it is hard to tell in the short-term where this market is going because of the situation in the Strait of Hormuz. This evening there was a rumor that Iran had fired a missile into the Strait. The Oil Market spiked up 5.16 to 68.09 and the June E-mini S&P dropped 10 points in overnight trading. So, it is very difficult to know where this market is going in the short-term.