{"id":3590,"date":"2010-10-12T07:22:51","date_gmt":"2010-10-12T12:22:51","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3590"},"modified":"2010-10-12T07:22:51","modified_gmt":"2010-10-12T12:22:51","slug":"before-the-open-oct-12-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3590","title":{"rendered":"Before the Open (Oct 12)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mostly down – there were a couple 1% losers, but China gained 1.2%. Europe is currently down across the board – losses are moderate. Futures here in the States point towards a moderate gap down for the cash market.<\/span>
\nYesterday was a “coffee day.” The US bond market was closed due to Columbus Day and the Canadian markets were closed due to their Thanksgiving. The action here was muted – range was small, volume light, but now we get back to work.<\/span>
\nYesterday the US dollar very quietly put in a pretty good day. It opened near its low and closed near its high. The chart is hardly bullish, but a bounce within its downtrend would put a big road block in front of the market because the dollar and the market have moved opposite for many months. <\/span>
\nHere’s a chart that relates the US dollar and the S&P 500. No correlation (or inverse correlation) is perfect…this one is as good as it gets. If the dollar bounces, the market’s uptrend will be temporarily halted. More after the open.<\/span>
\n\"\"
\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