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Bob Brinker has been saying since the first week in July that the stock market and the price of oil are "directly correlated." Is the stock market reacting to the price of oil exclusively as Brinker seems to be claiming? When you look at the statistics for the past month, the answer is no, when you look at the statistics for this week, the answer is maybe. 8~).
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Monday, the S&P closed at 1234.37..........Crude Oil closed at 124.73
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Tuesday, the S&P closed at 1263.20..........Crude Oil closed at 121.78
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Wednesday, the S&P closed at 1284.26.....Crude Oil closed at 126.92
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Thursday, the S&P closed at 1267.38.........Crude Oil closed at 124.18
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Friday, the S&P closed at 1260.31........Crude Oil Closed at 124.98
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- For the month of July, the S&P declined 1%
- For the month of July, the price of Oil declined about 12%
(From July 1st to July 31st, the price of Oil dropped $17 -- from $141.43 to $124.18.)
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My sister-in-law, who lives in Idaho, took these beautiful pictures north of McCall:
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