{"id":2945,"date":"2010-04-22T07:08:16","date_gmt":"2010-04-22T12:08:16","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2945"},"modified":"2010-04-22T07:08:16","modified_gmt":"2010-04-22T12:08:16","slug":"before-the-open-apr-22","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2945","title":{"rendered":"Before the Open (Apr 22)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed mixed with a bearish bias. Europe is down across the board – there are several 1% losers. Futures here in the States point towards a moderate gap down for the cash market. <\/span>
\nComing off last Friday’s big down day, the market rallied Mon and Tues on declining volume and then churned in place yesterday. Here’s the 30-min S&P chart. Resistance has held. We have a falling rectangle pattern within an uptrend.<\/span>
\n\"\"
\nI still see nothing horribly wrong with the market. Greece’s financial situation is still a problem. Earnings season is here. We’re in that time period the market could let out a little air following options expiration. And there are a handful of indicators at levels that need to be worked off. All this and as of yesterday’s high the S&P was only a couple points from its high. Here’s the weekly.<\/span>
\n\"\"
\nStep one in trading is determining the trend. Step two is determining if the trend is young or mature – this tells us whether we should be aggressive or careful. Right now the trend is mature, and this keeps me in a conservative camp. 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