{"id":2430,"date":"2009-12-09T08:24:34","date_gmt":"2009-12-09T13:24:34","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2430"},"modified":"2009-12-09T08:24:34","modified_gmt":"2009-12-09T13:24:34","slug":"before-the-open-dec-9","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2430","title":{"rendered":"Before the Open (Dec 9)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mostly down – there were a few 1% losers. Europe is currently mixed and without any standouts. Futures here in the States suggest a gap up open for the cash market. No surprise there. Over the last 3+ weeks the market has gapped big 7 times at the open – 4 up and 3 down. Gaps are as common today as they’ve ever been. Lots of emotion out there. The smallest news item doesn’t just induce buying and selling, it induces a lot of it since there are so many players worldwide.<\/span>
\nBut despite all the gaps and whippy action, the market is largely unchanged over the last month. It’s frustrating when the market sits in a tight range, but in the grand scheme of things, it’s healthy and constructive and necessary. The trend is up, but the market needs a break from time to time to restore its spent energy. Here’s the S&P chart. Nothing wrong here – a consolidation pattern within an uptrend. If it breaks out to the upside, my target is 1200. If it trades below support, I would not expect a crash; there are many levels of support below.<\/span>
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\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