{"id":2770,"date":"2010-03-08T08:29:08","date_gmt":"2010-03-08T13:29:08","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2770"},"modified":"2010-03-08T08:29:08","modified_gmt":"2010-03-08T13:29:08","slug":"before-the-open-mar-8","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2770","title":{"rendered":"Before the Open (Mar 8)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend. <\/span>
\nThe Asian\/Pacific markets closed up across the board – there were several 1% winners. Europe isn’t fairing as well, but it’s still mostly up. Futures here in the States point towards a small gap up open for the cash market. This comes off a week where the Russell traded cleanly through its resistance zone, the Nas moved to the top of its resistance, the S&P rallied into its resistance zone, and the Dow lagged. It is just now approaching overhead supply. Four indexes at different stages.<\/span>
\nThe internal breadth indicators tell me there’s more upside to go before being at an extreme level, but the S&P is on a 6-day winning streak and is due for a day off. An off day or two would set the stage for the next mini leg up which officially put the market in overbought territory.<\/span>
\nHere’s the SPX daily chart. 1150 is the top of the resistance zone and it’s the top Bollinger Band on the weekly chart. It’s my target for now. More after the open.<\/span>
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\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