{"id":3757,"date":"2010-11-29T08:21:27","date_gmt":"2010-11-29T13:21:27","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3757"},"modified":"2010-11-29T08:21:27","modified_gmt":"2010-11-29T13:21:27","slug":"before-the-open-nov-29-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3757","title":{"rendered":"Before the Open (Nov 29)"},"content":{"rendered":"

Good morning. Happy Monday.<\/span>
\nThe Asian\/Pacific markets closed mixed and with a bullish bias. Europe is down across the board – losses are moderate. Futures here in the States are down slightly. <\/span>
\nThe market has been all over the map the last couple weeks…large gap ups, large gap downs, sudden rallies, sudden sell-offs. In the end the indexes are unchanged over the last 8 trading days. This isn’t bad considering the negative news out, but the “relative strength” isn’t a reason to blindly hold. Here’s the 30-min SPX chart going back to the first week of Sept. It’s steep uptrend was broken two weeks ago, and now it’s been consolidating in a range. This is more bearish than bullish.<\/span>
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\nEvent risk is high. Bad news can easily push the S&P down another 50 points, but bearish sentiment has grown enough that good news or a lack of bad news could squeeze the market higher and back to its highs. In my opinion, this is not a time to be aggressive. 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>
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