Before the Open (Aug 14)

Posted on by Jason Leavitt

Good morning. Happy Tuesday.
The Asian/Pacific markets posted solid, across-the-board gains. Hong Kong and South Korea moved up more than 1%. Europe is currently mostly up. Germany is up 0.8%; otherwise there are no big winners or losers. Futures here in the States point towards a positive open for the cash market.

The dollar is flat. Oil and copper are up. Gold and silver are up.
Today, Greece completed its largest debt sale in two years.
Home Depot did well with earnings. The stock is up 43 cents pre market.
GRPN also did well with earnings, but their gross billings declined. The stock is down 23% before the open.
There are no other notable movers. The market is quiet. News is light. The macro picture tells us there are lots of headwinds, but in the very near term there are no catalysts.
Here’s the 5-min S&P chart…very small range the last week. Don’t fight it. This is normal and healthy action. Remember the market has been moving straight up and straight down for a couple months. The fact that it can hold its gains near its highs shows a change in character may be under way. Have patience. The foundation for a fall rally may be forming. More after the open.

headlines at Yahoo Finance
headlines at MarketWatch
today’s upgrades/downgrades
this week’s Earnings
this week’s Economic Numbers

0 thoughts on “Before the Open (Aug 14)”

  1. the tiny tim circular ponsi
    the bail out
    greece sells bond which the greek banks are ordered to buy
    the banks lodge the bonds with the ecb and get their cash money back
    the instos know whats going on and that it cant last
    but can the instos of load to the retailers and central banks in time
    the snif of fresh liquidity HOPE from the cental banks could give us the capitulation up
    with some world central banks help from their respective plunge protection open market opperationd
    today it was japans turn to hint at fresh stimulus
    tiny tim god or the devil
    we will have the devil to pay when the ponsi ends

  3. Agreed Auzzie – thanks for the explanation – and they will keep printing – thats all they can do – except cross there fingers and hope it won’t crash down – What goes up will come down

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