{"id":2792,"date":"2010-03-12T08:27:22","date_gmt":"2010-03-12T13:27:22","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2792"},"modified":"2010-03-12T08:27:22","modified_gmt":"2010-03-12T13:27:22","slug":"before-the-open-mar-12","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2792","title":{"rendered":"Before the Open (Mar 12)"},"content":{"rendered":"

Good morning. Happy Friday.<\/span>
\nThe Asian\/Pacific markets closed mixed – China lost more than 1%. Europe is currently up across the board. Futures here in the States are flat.<\/span>
\nThe market is on a heck of a run. The Russell has moved up 20 of the last 22 days. The S&P’s winning streak is 14 of the last 18, and the S&P has taken out its previous day’s high 9 of the last 10 days. It just keeps going and going and going. I call it the Energizer Bunny market. <\/span>
\nThe Russell and Nasdaq have already cleared resistance. The S&P is there right now. Here’s the 30-min S&P. Everything that was lost in Jan & Feb has been recaptured.<\/span>
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\nBut although 1150 is resistance in many trader’s minds, I view the 1160-1165 as stiffer and more significant resistance per the weekly chart below. This conveniently gives the index a chance to make a higher high and suck in more buyers and cause more shorts to cover right before a drop plays out (maybe).<\/span>
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\nThe trend is up, so the long side is the only side I’m willing to play, but caution is warranted here. This run isn’t going to go forever.<\/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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