{"id":10318,"date":"2017-03-20T07:44:57","date_gmt":"2017-03-20T12:44:57","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10318"},"modified":"2017-03-20T07:44:57","modified_gmt":"2017-03-20T12:44:57","slug":"before-the-open-mar-20-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10318","title":{"rendered":"Before the Open (Mar 20)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a good weekend. <\/span>
\n The Asian\/Pacific<\/strong> markets closed with a lean to the downside. New Zealand dropped 1.4%; Australia, India and South Korea were also weak. Hong Kong and China posted gains. Europe<\/strong> is currently mostly down, but losses are small. Russia, Germany, France, Poland, Hungary and Spain are down the most. Futures in the States<\/strong> point towards a slight down open for the cash market. <\/span>
\n—————
\n VIDEO: <\/strong>LeavittBrothers.net Overview<\/a>
\n—————<\/span>
\n The dollar is up a small amount. Oil and copper are down. Gold and silver are flat. Bonds are down. <\/span>
\n We got across-the-board improvement last week. The small caps led, and several breadth indicators reversed. <\/span>
\n Long term I consider the market to be in great shape and am very confident new highs will continue to be made this year. Short term I consider the price action to be more neutral. The S&P is flat going back about three weeks, and the Russell small caps are flat going back to early December. I like the market, but there isn’t much near-term momentum. <\/span>
\n The 10-day of the NYSE AD line is a good example of what I’m following right now. If the indicator gets above 0 and stays there, odds favor a continuation of the current move which began right before the election. But if the indicator gets rejected by 0 and drops (similar to what happened in October (red arrow)), the market will weaken further. <\/span>
\n\"\"
\n Pretty simple. The market bounced last week, but the internals need to improve more to support further upside. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Stifel Financial (SF -2.04%) was downgraded to ‘Neutral’ from ‘Buy’ at Goldman Sachs.<\/span>
\n Tiffany (TIF +2.71%) was upgraded to ‘Outperform’ from ‘Market Perform’ at William Blair & Co.<\/span>
\n Sunoco LP (SUN +0.33%) was downgraded to ‘Equal-Weight’ from ‘Overweight’ at Stephens.<\/span>
\n Ingersoll-Rand PLC (IR +0.55%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Wells Fargo Securities with a price target of $86.<\/span>
\n Bunge (BG +0.22%) was downgraded to ‘Neutral’ from ‘Buy’ at Goldman Sachs.<\/span>
\n Illumina (ILMN +0.60%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Leerink Partners LLC with a price target of $195.<\/span>
\n Nimble Storage (NMBL -0.64%) was downgraded to ‘Hold’ from ‘Buy’ at Needham & Co.<\/span>
\n Alaska Air Group (ALK -0.83%) was upgraded to ‘Buy’ from ‘Hold’ at Stifel with a price target of $145.<\/span>
\n Snap (SNAP -1.76%) was rated a new ‘Buy’ at Monness Crespi with a price target of $25.<\/span>
\n Apollo Global Management LLC (APO -0.82%) climbed 2% in after-hours trading after Tiger Global Management LLC reported a 7% passive stake in the company.<\/span>
\n ViewRay (VRAY -3.53%) slid 3% in after-hours trading after it filed a 10.3 million share prospectus that were sold to accredited investors in a private placement.<\/span>
\n Thursday’s Key Earnings<\/strong>
\n Adobe ADBE +4.4% AH after FQ1 beat, raising guidance.<\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 Chicago Fed National Activity Index
\n 8:30 Fed’s Evans: Monetary Policy
\n 1:10 PM Fed’s Evans speech<\/span><\/span><\/span><\/span>
\nOther<\/strong>…<\/span>
\ntoday’s upgrades\/downgrades<\/a> from briefing.com<\/span>
\nthis week’s Earnings<\/a><\/span> from Morningstar
\nthis week’s Economic Numbers\/Reports<\/a><\/span> powered by ECONODAY<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Monday. Hope you had a good weekend. The Asian\/Pacific markets closed with a lean to the downside. New Zealand dropped 1.4%; Australia, India and South Korea were also weak. Hong Kong and China posted gains. Europe is currently mostly down, but losses are small. Russia, Germany, France, Poland, Hungary and Spain are […]<\/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":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10318"}],"collection":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10318"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10318\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}