{"id":3638,"date":"2010-10-25T07:26:56","date_gmt":"2010-10-25T12:26:56","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3638"},"modified":"2010-10-25T07:26:56","modified_gmt":"2010-10-25T12:26:56","slug":"before-the-open-oct-25","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3638","title":{"rendered":"Before the Open (Oct 25)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nExcept for Japan, the Asian\/Pacific markets closed up – there were several 1% winners. Europe is currently mostly up – gains are much more muted. Futures here in the States point towards a gap up open for the cash market that will take out last week’s highs for several indexes. <\/span>
\nOver the weekend finance ministers from the G20 promised to avoid a currency war…more specifically they agreed not to constantly devalued their own currency for the purpose of helping their own exports. No guidelines were agreed on, they just agreed to avoid a currency war. The dollar is down 0.75% as I type.<\/span>
\nMy only reason for talking about news which I rarely mention is because the dollar and the stock market have been so closely linked lately. When the dollar goes down, the market goes up. Simple as that. Throw out all other indicators and factors, this one item is so dominant right now, no other analysis is needed. <\/span>
\nHere’s the SPX vs the dollar. It’s a little confusing because it covers 12 months, but if you look closely and match the two up month by month, you’ll see they’ve been moving opposite each other for the last year. Last week they diverged (both moved up). We’ll see if this was 1) temporary or 2) the first step in their divorce.<\/span>
\n\"\"
\nMore 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