{"id":2568,"date":"2010-01-13T08:27:46","date_gmt":"2010-01-13T13:27:46","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2568"},"modified":"2010-01-13T08:27:46","modified_gmt":"2010-01-13T13:27:46","slug":"before-the-open-jan-13","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2568","title":{"rendered":"Before the Open (Jan 13)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed down – China lost more than 3%. Europe is currently mixed and without any big movers. Futures here in the States suggest a positive open for the cash market. <\/span>
\nThe S&P 500 broke its 6-day winning streak yesterday with a 1% drop – no big deal and not a surprise. <\/span>
\nI’m going to say it one more time…be shorter term oriented or longer term oriented. Don’t get caught in the middle of you’re likely to get stopped out at exactly the wrong time. <\/span>
\nThe charts need to reset. The indexes have been on a nice run since mid December without taking a break. Dozens of our stock picks have broken out and rallied to their targets, but now a little time is needed for them to rest, restore their energy and get ready for the next move. <\/span>
\nMaybe the market bottoms soon and moves up, who knows? That’s not something I can predict. I can however assess the risk\/reward of new trades and come to the conclusion it isn’t as favorable now as it has been.<\/span>
\nHere’s the S&P daily – nothing wrong with this picture, and there are many layers of support below the current level.<\/span>
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\nheadlines at Yahoo Finance<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings Reports<\/a> and Economic Numbers<\/a><\/span>
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