{"id":2424,"date":"2009-12-07T08:23:39","date_gmt":"2009-12-07T13:23:39","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2424"},"modified":"2009-12-07T08:23:39","modified_gmt":"2009-12-07T13:23:39","slug":"before-the-open-dec-7","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2424","title":{"rendered":"Before the Open (Dec 7)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nLast week was a pretty good one for the market. Everything closed up, and the small caps gained over 4%. Most of the indexes made new highs Friday, and we had several good breakouts.<\/span>
\nBut warning signs persist, and we’re not getting much follow through. In many cases, profits need to be taken when available. <\/span>
\nHere’s the SPX weekly. If the thin volume area is supposed to lack resistance due to a lack of investors looking to get out even, someone needs to tell the market. For 3 weeks the market has peaked its head above 1100, and thus far no quick move up has resulted.<\/span>
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\nThis is one reason profits need to be taken when available. Here’s the 15-min SPY chart. There have been 6 big gaps in just the last 3 weeks, and in the end the market is unchanged since mid November.<\/span>
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\nThe Asian\/Pacific markets closed mixed – there were a couple 1% movers in both directions. Europe is currently mixed. Futures here in the States suggest a small gap down open for the cash market. The dollar is continuing Friday’s move up; commodities are down. <\/span>
\nNothing else to add right now. 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>
\n