{"id":3709,"date":"2010-11-12T08:20:51","date_gmt":"2010-11-12T13:20:51","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3709"},"modified":"2010-11-12T08:20:51","modified_gmt":"2010-11-12T13:20:51","slug":"before-the-open-nov-12-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3709","title":{"rendered":"Before the Open (Nov 12)"},"content":{"rendered":"

Good morning. Happy Friday.<\/span>
\nIt’s not such a happy day for markets around the world. The Asian\/Pacific markets are down across the board with many sizable losers including China which lost over 5%. Europe is mostly down, but losses aren’t too bad. Futures here in the States point towards a large gap down open for the cash market. <\/span>
\nWe entered this week with the odds favoring a little give back following the election\/FOMC rally, and that’s exactly what we’ve gotten. In the grand scheme of things the pullback is nothing out of the ordinary. The S&P moved 180 points in just over 2 months – it deserves a little time off.<\/span>
\nYour trading style, the set ups you like to trade, will work great some of the time but not all the time. A swing trader will trade aggressively for a couple weeks or months and then lay low waiting for the charts to reset. That’s what I’ve been doing the last week – laying low waiting for the charts to reset.<\/span>
\nHere’s the 30-min SPX. I see nothing wrong with the big picture. Let it come down a little to shake out the weak longs. The charts will reset, and then more likely than not another leg up will begin.<\/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