{"id":2697,"date":"2010-02-18T08:16:25","date_gmt":"2010-02-18T13:16:25","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2697"},"modified":"2010-02-18T08:16:25","modified_gmt":"2010-02-18T13:16:25","slug":"before-the-open-feb-18","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2697","title":{"rendered":"Before the Open (Feb 18)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed mostly down, but losses were minimal. Europe is currently mixed with an upward bias. Futures here in the States point towards a flat or slightly down open. This comes off a light-volume advance that saw the S&P hit our resistance zone at 1100. Here’s the 30-min chart I’ve been working off. A pullback to 1090 would better set the stage for a breakout and subsequent rally to the highs at 1150, but the nature of the market the last several months has been steady winning streaks. It’s been common to see 8 of 9 up days or 10 of 12 up days. It’s a little weird for the market to move without correcting, but that’s been its character lately.<\/span>
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\nThe dollar is a bit of concern. Yesterday, all of the previous day’s loss was recovered, and on a closing basis, the currency is at a high. The inverse correlation between the dollar and market remains, so unless they decouple, the market won’t be able to move up if the dollar busts out of its trading range.<\/span>
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\nMore 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>
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