{"id":3700,"date":"2010-11-09T08:20:00","date_gmt":"2010-11-09T13:20:00","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3700"},"modified":"2010-11-09T08:20:00","modified_gmt":"2010-11-09T13:20:00","slug":"before-the-open-nov-9-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3700","title":{"rendered":"Before the Open (Nov 9)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mixed – Hong Kong dropped 1%. Europe is currently up across the board – there are no 1% winners. Futures here in the States point towards a small gap up open for the cash market.<\/span>
\nThe market closed mixed and flat yesterday, but some internal numbers were a little odd. Within the S&P 1500, the ratio of stocks closing in the top 20% of their intraday range to bottom 20% was 3.4-to-1. The ratio closing in their top 30% to bottom 30% was 2.4-to-1. You’d think the market would have been stronger with such numbers, but it wasn’t and decliners beat advancers 847-to-625. There definitely was a lack of uniformity – makes sense coming off a big news week.<\/span>
\nHere’s the 30-min SPX chart. It’s as simple as they come. I find a couple trendlines along with a feel for the psychology of the market is enough for me. The trend is up, and although anything can happen in the near term, I continue to believe the trend will remain up. And even if a top formed soon, tops take weeks or longer to form, so it’s not like there will be a single best day get out and go short.<\/span>
\n\"\"
\nMy overall bias remains up. 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