{"id":2658,"date":"2010-02-08T08:39:33","date_gmt":"2010-02-08T13:39:33","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2658"},"modified":"2010-02-08T08:39:33","modified_gmt":"2010-02-08T13:39:33","slug":"before-the-open-feb-8","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2658","title":{"rendered":"Before the Open (Feb 8)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Monday. Hope you had a nice weekend.<\/span><br \/>\n<span style=\"font-size: medium;\">I&#8217;m a little behind with returning email etc. I left LA Saturday afternoon&#8230;drove all night (huge snow storm in Utah)&#8230;got home late morning yesterday. When I put my 15-month old daughter down to sleep, I fell asleep in her bed with her. Cute? Yes. But not good for catching up on email etc. I&#8217;ll get caught up today.<!--more--><\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed mixed with a bearish bias. Europe is currently mixed. Futures here in the States point towards a slight positive open for the cash market. This comes off a potential turnaround day last Friday which saw the indexes drop hard early (to follow through the previous day&#8217;s selling pressure) and then rally on strong volume to close positive. <\/span><br \/>\n<span style=\"font-size: medium;\">In my opinion, we are in a similar situation as last Monday. There are certain short term breadth indicators that have hit levels that have led to bounces during the 11-month bull run. Many of the indicators are at those levels now, so failure to bounce right now (for at least a couple days) would constitute a change in character for the market. <\/span><br \/>\n<span style=\"font-size: medium;\">The % of S&amp;P stocks above their 10-day MA is one such indicator. Each time it&#8217;s reached the 10%-ish area (early Sept, early Oct, late Oct) the market bounced. Here&#8217;s the chart.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spx10020810.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">Here&#8217;s the S&amp;P daily. What happened last Thursday and Friday may have completely washed out the sellers, but this is hardly a solid base to build on.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spx020810.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">The market has some talking to do.<\/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=2653\">Earnings Reports<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=2655\">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><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Monday. Hope you had a nice weekend. I&#8217;m a little behind with returning email etc. I left LA Saturday afternoon&#8230;drove all night (huge snow storm in Utah)&#8230;got home late morning yesterday. When I put my 15-month old daughter down to sleep, I fell asleep in her bed with her. Cute? Yes. But [&hellip;]<\/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\/2658"}],"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=2658"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/2658\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}