{"id":2923,"date":"2010-04-16T07:29:04","date_gmt":"2010-04-16T12:29:04","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2923"},"modified":"2010-04-16T07:29:04","modified_gmt":"2010-04-16T12:29:04","slug":"before-the-open-apr-16","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2923","title":{"rendered":"Before the Open (Apr 16)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Friday. Happy options expiration day.<\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed down across the board &#8211; there were a couple 1% losers. Europe is currently mixed with no big winners or losers. Futures here in the States point towards a small gap down open for the cash market. <!--more-->This comes off a day the market traded quietly while it waited for Google&#8217;s earnings.<\/span><br \/>\n<span style=\"font-size: medium;\">GOOG did well with earnings, but the stock is down about 5%. GOOG makes lots of money but there are questions about whether it can emerge from being a 1-trick pony and be a major player in other businesses. <\/span><br \/>\n<span style=\"font-size: medium;\">We entered this week with the trend being up, a few warning signs showing and potential resistance front and center. The trend is still up (every day this week has closed up), there are a couple extra warnings signs, and indexes have cleared resistance (although not by much). The Dow is at 11,145, the S&amp;P is at 1211; the Russell is at 724.<\/span><br \/>\n<span style=\"font-size: medium;\">I still see no reason to guess a top, but I also can&#8217;t sit back, relax and assume the short trend will continue. With the average true ranges (ATR) dropping and the put\/call volume dropping and various breadth indicators back near their highs, the upside might be limited (in the near term &#8211; I believe any dip will get bought).<\/span><br \/>\n<span style=\"font-size: medium;\">Also the chance the market pulls back after options expire and that stocks drop after announcing earnings like GOOG will do today. Too many question marks. I&#8217;m being cautious.<\/span><br \/>\n<span style=\"font-size: medium;\">Here&#8217;s the 15-min S&amp;P chart. 1205 may be support today.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spx041610.png\" alt=\"\" \/><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=2900\">Earnings Reports<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=2902\">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 Friday. Happy options expiration day. The Asian\/Pacific markets closed down across the board &#8211; there were a couple 1% losers. Europe is currently mixed with no big winners or losers. Futures here in the States point towards a small gap down open for the cash market.<\/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\/2923"}],"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=2923"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/2923\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}