{"id":2612,"date":"2010-01-26T08:36:42","date_gmt":"2010-01-26T13:36:42","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2612"},"modified":"2010-01-26T08:36:42","modified_gmt":"2010-01-26T13:36:42","slug":"before-the-open-jan-26","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2612","title":{"rendered":"Before the Open (Jan 26)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Tuesday.<\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed down across the board &#8211; several indexes lost more than 2%. Europe is currently mostly down, but losses are minimal. Futures here in the States suggest a weakish open, but nowhere near as bad as where the futures were trading last night.<!--more--><\/span><br \/>\n<span style=\"font-size: medium;\">It looks like AAPL will buck the earnings trend. They had a great quarter, and the stock is set to gap up 4 bucks today. This is a relatively small move, especially considering how hard the stock fell last week, but it&#8217;s better than nothing. Most companies that have done well with earnings have either gapped down and sold off or gapped up and gave everything back. We&#8217;ll see how AAPL does when the market opens.<\/span><br \/>\n<span style=\"font-size: medium;\">I&#8217;d still consider the long term trend to be up and the short term trend to be down, but as noted in yesterday&#8217;s report, there are some short term breadth indicators which suggest an oversold situation is already present &#8211; a situation that has produced several bounces the last 10 months. If the market bounces soon, it&#8217;s business as usual. If the market doesn&#8217;t bounce, we have to consider the possibility the character of the market is changing as evidenced by the market not doing what it has typically done is such situations. <\/span><br \/>\n<span style=\"font-size: medium;\">Here are the 30-min and 5-min SPX charts with some trendlines I consider significant or somewhat significant. On the downside, the bottom of the late-Nov, early-Dec consolidation period is a potential support level to watch. On the upside, 1115 is a confluence of several trendlines.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spx012610-1.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spx012610-2.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">More after the open.<\/span><br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">today&#8217;s <a href=\"http:\/\/briefing.com\/Investor\/Public\/Calendars\/UpgradesDowngrades.htm\">upgrades\/downgrades<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=2604\">Earnings Reports<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=2606\">Economic Numbers<\/a><\/span><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\nvar gaJsHost = ((\"https:\" == document.location.protocol) ? \"https:\/\/ssl.\" : \"http:\/\/www.\");\ndocument.write(unescape(\"%3Cscript src='\" + gaJsHost + \"google-analytics.com\/ga.js' type='text\/javascript'%3E%3C\/script%3E\"));\n\/\/ ]]><\/script><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\nvar pageTracker = _gat._getTracker(\"UA-6273151-1\");\npageTracker._initData();\npageTracker._trackPageview();\n\/\/ ]]><\/script><br \/>\n<input id=\"gwProxy\" type=\"hidden\" \/><input id=\"jsProxy\" onclick=\"jsCall();\" type=\"hidden\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Tuesday. The Asian\/Pacific markets closed down across the board &#8211; several indexes lost more than 2%. Europe is currently mostly down, but losses are minimal. Futures here in the States suggest a weakish open, but nowhere near as bad as where the futures were trading last night.<\/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\/2612"}],"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=2612"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/2612\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}