{"id":3010,"date":"2010-05-12T07:38:39","date_gmt":"2010-05-12T12:38:39","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3010"},"modified":"2010-05-12T07:38:39","modified_gmt":"2010-05-12T12:38:39","slug":"before-the-open-may-12","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=3010","title":{"rendered":"Before the Open (May 12)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets mixed. The closing levels suggest a relatively quiet day. Europe is up across the board – there are a couple 1% gainers. Futures here in the States point towards a flat open for the cash market. <\/span>
\nOther than Monday’s open, we’ve had two calm days in a row and little net change from Monday’s opening tick. Soon we should get some answers to some lingering questions. The market was weakish before last Thursday’s induced collapse. Should we ignore the collapse and consider the weakness to have been innocent selling within an uptrend? Or… Now the market has been recovered the losses. Shorts no doubt helped keep the indexes at the current level the last two days, but they have certainly covered by now or won’t cover. Without support from them, are there enough buyers to keep prices up? After all the first surge off a low is easy because of short covering and perma bulls who are bottom fishing. But those groups aren’t enough to keep things aloaf very long. Others, especially institutions, need to join in. Soon we’ll find out. <\/span>
\nHere’s the SPY daily. I use it because it shows gaps better than the SPX. Right now trendlines are meaningless. There’s too much emotion and news jerking the market around. A chart is supposed to be the sum total of everything going on – assuming there aren’t major news items that are temporarily influencing support and demand. Such is not the case right now. We need a few more days for things to calm down before traditional charting techniques have meaning again. More after the open.<\/span>
\n\"\"
\nheadlines at Yahoo Finance<\/a><\/span><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span><\/span>
\nthis week’s Earnings Reports<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Wednesday. The Asian\/Pacific markets mixed. The closing levels suggest a relatively quiet day. Europe is up across the board – there are a couple 1% gainers. Futures here in the States point towards a flat 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\/3010"}],"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=3010"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/3010\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3010"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}