{"id":2375,"date":"2009-11-24T08:22:18","date_gmt":"2009-11-24T13:22:18","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2375"},"modified":"2009-11-24T08:22:18","modified_gmt":"2009-11-24T13:22:18","slug":"before-the-open-nov-24","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2375","title":{"rendered":"Before the Open (Nov 24)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mostly down – China lost 3.5%. Europe is currently mixed – there are no big winners or losers. Futures here in the States suggest a small gap up open – this of course could change between now and when the market opens.<\/span>
\nYesterday was the third consecutive Monday the market gapped up and put in a solidly up day…and it’s the forth time in 11 days the market has gapped big to start the day. Here’s the 10-min SPX chart covering the last 7 days – not easy to deal with. Day traders love it, swing traders hate it. The market gaps and then sits there in a tight range.<\/span>
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\nYesterday the small caps led – that’s a good thing. The US dollar dropped – also a good thing. The Dow made a new high, and all the indexes did well to hold their opening gap levels. The overall trend remains up, but as I’ve stated, this isn’t an easy market to deal with. I’d prefer the marekt rally and then move sideways in a range before breaking out again. Instead the market is moving 5 steps forward and 4 steps back. Profits need to be taken when available because the pullbacks are big enough to take back your profits.<\/span>
\nToday should be a fairly normal day – maybe light volume. Tomorrow will be dead because the market is closed Thursday. More after the open.<\/span>
\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>
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