{"id":3583,"date":"2010-10-11T07:30:41","date_gmt":"2010-10-11T12:30:41","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3583"},"modified":"2010-10-11T07:30:41","modified_gmt":"2010-10-11T12:30:41","slug":"before-the-open-oct-11","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3583","title":{"rendered":"Before the Open (Oct 11)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets closed mostly up – China and Hong Kong led the way. Europe is currently up across the board – gains are small. Futures here in the States point towards a positive open for the cash market. <\/span>
\nI don’t have anything to say that I didn’t say in the report I posted over the weekend. The trend is up, and I continue to believe the April highs will be tested this winter. There will be hiccups along the way, but barring totally unexpected events, all signs point towards a continuation of the trend.<\/span>
\nHere’s the SPX 60-min chart. A solid rally off the August low was followed by a couple weeks of consolidation which has now resolved up. From a technical standpoint, there’s nothing wrong with this chart. I’m sure you could search for an indicator to suggest an overbought condition, and that’s fine. It may be a reason to lighten up on longs, but it’s not a reason to guess a top.<\/span>
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\nAside from possibly being overbought, one could argue the lagging Nas is a warning and it is. But that too isn’t a reason to abandon all good trades and go short. <\/span>
\nThat’s it for now. I’m sure I’ll have more to say after the open. Remember earnings season is here…I do not under any circumstance hold into a report. <\/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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