{"id":3007,"date":"2010-05-11T07:26:57","date_gmt":"2010-05-11T12:26:57","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3007"},"modified":"2010-05-11T07:26:57","modified_gmt":"2010-05-11T12:26:57","slug":"before-the-open-may-11","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=3007","title":{"rendered":"Before the Open (May 11)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mostly down – there were a couple 1% losers. Europe is currently mostly down – there are also several 1% losers while Germany is up 4%. Futures here in the States point towards a sizable gap down open for the cash market. This comes off a massive gap up yesterday and relatively tight trading range. Today’s open will be near the low of yesterday’s intraday range.<\/span>
\nThe market either goes up, down or sideways. Heading into this week the odds favored more downside – even if there was a bounce first. But after yesterday, the odds are much less the market moves down. In fact I’d say the odds favor sideways movement (I’m talking about overall and over the next month or so, not the next couple days). <\/span>
\nThe market still has lots of stuff to sort out. The S&P lost 100 and recaptured all of it in less than 3 days. We’ve gotten huge intraday moves and big opening gaps. After nailing last week’s move down and cashing out on Thursday and Friday, I’m still of the opinion the market needs to calm down and find an equilibrium before better trade set ups surface. <\/span>
\nHere’s the S&P weekly. Other than the very brief spike down which was likely due to either human or computer error, the longer term trend could still be considered up.<\/span>
\n\"\"
\nHere’s the 60-min. There’s lots of overhead resistance to contend with.<\/span>
\n\"\"
\nheadlines at Yahoo Finance<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings Reports<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Tuesday. The Asian\/Pacific markets closed mostly down – there were a couple 1% losers. Europe is currently mostly down – there are also several 1% losers while Germany is up 4%. Futures here in the States point towards a sizable gap down open for the cash market.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/3007"}],"collection":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3007"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/3007\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3007"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}