{"id":10450,"date":"2017-05-22T07:51:47","date_gmt":"2017-05-22T12:51:47","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10450"},"modified":"2017-05-22T07:51:47","modified_gmt":"2017-05-22T12:51:47","slug":"before-the-open-may-22-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10450","title":{"rendered":"Before the Open (May 22)"},"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 upside. Japan, Hong Kong, South Korea and Australia posted gains; China and Indonesia fell.Europe<\/strong> currently leans to the upside, but movement is minimal. The UK, Turkey, Greece, Switzerland and Austria are up; Italy is down. Futures in the States<\/strong> point towards a flat open for the cash market. <\/span>
\n—————
\n VIDEO: <\/strong>LeavittBrothers.net Overview<\/a>
\n—————<\/span>
\n The dollar is down. Oil and copper are up. Gold and silver are up. Bonds are up. <\/span>
\n We enter this week with mixed, neutral and somewhat confused picture. <\/span>
\n The quality and quantity of trading set ups has improved, but the internals have weakened. The 10-day of the AD line is sitting at the bottom of its range. New highs have completely fallen off, and the high-low differentials are trending down. The bullish percent charts are moving down. The percentage of stocks above various moving averages are either trending down or sitting near low levels.<\/span>
\n If the market attempts to rally, the internals must immediately improve. Simple as that. We can’t have the number of stocks trading above their 20-EMAs declining while the market moves up. This divergence can last a few days but no long. It’s okay if the market is top-heavy, but we do need some participation other than a handful of stocks pulling it up. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Ford Motor Co. (F +0.74%) is up 3% in pre-market trading on news that the company is replacing CEO Mark Fields with Jim Hackett.<\/span>
\n Huntsman (HUN +3.37%) jumped over 5% in pre-market trading after Clariant AG agreed to buy the company in an all-stock deal valued at about $6.4 billion.<\/span>
\n Mylan (MYL -0.55%) rose over 1% in pre-market trading after it was upgraded to ‘Overweight’ from ‘Equal Weight’ at Barclays.<\/span>
\n Qualcomm (QCOM +2.76%) gained more than 1% in pre-market trading after it was upgraded to ‘Overweight’ from \u2018Neutral’ at JPMorgan Chase.<\/span>
\n Plains All American (PAA +2.24%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Raymond James with a 12-month target price of $32.<\/span>
\n Nutanix (NTNX unch) was upgraded to ‘Buy’ from ‘Neutral’ at Goldman Sachs with a 12-month target price of $31.<\/span>
\n Zoe’s Kitchen (ZOES +1.68%) was downgraded to ‘Neutral’ from ‘Outperform’ at Baird.<\/span>
\n Applied Optoelectronics (AAOI -0.69%) was initiated with a ‘Strong Buy’ at Needham & Co. with a 12-month target price of $85.<\/span>
\n Scotts Miracle-Gro (SMG +0.88%) was rated a new ‘Gradually Accumulate’ at Great Lakes Review with a 12-month target price of $105.<\/span>
\n Myovant Sciences Ltd (MYOV +0.17%) climbed 4% in after-hours trading after it said a Phase 2 study by Takeda of relugolix in Japanese women with endometriosis-associated pain met its primary endpoint and significantly reduced pelvic pain versus a placebo.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 Chicago Fed National Activity Index
\n 10:00 Fed’s Kashkari speech
\n 7:00 PM Fed’s Reserve Gov. Lael Brainard 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 upside. Japan, Hong Kong, South Korea and Australia posted gains; China and Indonesia fell.Europe currently leans to the upside, but movement is minimal. The UK, Turkey, Greece, Switzerland and Austria are up; Italy is down. Futures […]<\/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\/10450"}],"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=10450"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10450\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}