{"id":2723,"date":"2010-02-24T08:30:00","date_gmt":"2010-02-24T13:30:00","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2723"},"modified":"2010-02-24T08:30:00","modified_gmt":"2010-02-24T13:30:00","slug":"before-the-open-feb-24","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2723","title":{"rendered":"Before the Open (Feb 24)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mostly down. Europe is currently mixed. Futures here in the States point towards a slight up open.<\/span>
\nThe market was spooked yesterday by Consumer Confidence numbers. Intense selling followed the release, and then the market flat-lined the rest of the day.<\/span>
\nComing into this week I noted the market was in no-man’s land. Resistance didn’t come into play until 1130 on the S&P (20 points above), and given the run up, there wasn’t much support below. It was time to be more conservative because the risk\/reward for entering new trades was not favorable. Here’s the S&P daily. I still don’t consider this easy to read. Maybe 1090 will act as support because it did for a short time in late Jan, perhaps it won’t. <\/span>
\n\"\"
\nI’m not sure the market is ready to leg up again. I see it pulling back a little further or grinding sideways. More 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>
\n