{"id":3687,"date":"2010-11-05T07:40:18","date_gmt":"2010-11-05T12:40:18","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3687"},"modified":"2010-11-05T07:40:18","modified_gmt":"2010-11-05T12:40:18","slug":"before-the-open-nov-5-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3687","title":{"rendered":"Before the Open (Nov 5)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Friday.<\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed mostly up &#8211; there were several 1% winners. Europe is currently mostly down &#8211; losses are small. With about 20 minutes to go until the employment numbers are released, futures here in the States are down a couple points. <!--more--><\/span><br \/>\n<span style=\"font-size: medium;\">Here are the employment numbers:<\/span><br \/>\n<span style=\"font-size: medium;\">unemployment rate: 9.6% (third straight month)<\/span><br \/>\n<span style=\"font-size: medium;\">nonfarm payrolls: up 151K<\/span><br \/>\n<span style=\"font-size: medium;\">private payrolls: up 159K<\/span><br \/>\n<span style=\"font-size: medium;\">average workweek: up 6 minutes to 34.3 hours<\/span><br \/>\n<span style=\"font-size: medium;\">hourly earnings: up 0.2%<\/span><br \/>\n<span style=\"font-size: medium;\">After the numbers were released, futures jumped, and assuming they hold, we&#8217;ll have an open above yesterday&#8217;s close.<\/span><br \/>\n<span style=\"font-size: medium;\">The market busted out in a big way yesterday. There was no attempt to fill the opening gap up. When looking at the last couple months, the market could not be stronger. But when you back the charts up, all the market has done the last two months is retrace its losses from April, May and June, and I could still argue the market is still range bound going back to Sept 2009. <\/span><br \/>\n<span style=\"font-size: medium;\">Here&#8217;s the SPX 30 min chart I&#8217;ve been posting the last week. Looks pretty bullish to me. \ud83d\ude42<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spx110510.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">Are we gonna have another &#8220;gap and go&#8221; day? I could not argue with you if you wanted to take a few bucks off the table, but I have no idea why the bears continue trying to pick tops. The big money is made riding the big trends, and since we don&#8217;t always have a big trend to ride, when we do get one, it&#8217;d be wise to ride if for everything it&#8217;s worth. More after the open.<\/span><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=3652\">Earnings Reports<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=3654\">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. The Asian\/Pacific markets closed mostly up &#8211; there were several 1% winners. Europe is currently mostly down &#8211; losses are small. With about 20 minutes to go until the employment numbers are released, futures here in the States are down a couple points.<\/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\/3687"}],"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=3687"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/3687\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}