{"id":3717,"date":"2010-11-15T08:26:37","date_gmt":"2010-11-15T13:26:37","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3717"},"modified":"2010-11-15T08:26:37","modified_gmt":"2010-11-15T13:26:37","slug":"before-the-open-nov-15","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3717","title":{"rendered":"Before the Open (Nov 15)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets mixed with moderate moves in both directions. Europe is currently mostly up – gains are small. Futures here in the States point towards a moderate gap up for the cash market. <\/span>
\nAs I stated over the weekend, every day this week is a POMO day, but the fact that the market does much better on POMO days vs. non POMO days is not a secret. The cat is out of the bag, so you gotta wonder if blindly buying on a POMO day will continue to work…especially considering a gap up takes care of some of the average gains.<\/span>
\nThe technicals say the market needs to rest more…the Fed activity says not to bet on the downside…after today’s close I’ll look at the put\/call OI to see what it says (as if it mattered).<\/span>
\nHere’s the SPX 15-min chart over the last couple weeks. On a short term basis, I’d call it bearish and have downside target of 1185ish.<\/span>
\n\"\"
\nZooming in, here’s the 5-min chart over the last week. The index could move up to 1202.5ish and still be in a bearish flag pattern.<\/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