{"id":3763,"date":"2010-12-01T08:26:02","date_gmt":"2010-12-01T13:26:02","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3763"},"modified":"2010-12-01T08:26:02","modified_gmt":"2010-12-01T13:26:02","slug":"before-the-open-dec-1-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3763","title":{"rendered":"Before the Open (Dec 1)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed with solid across-the-board gains. Europe is currently posting similar gains. Futures here in the States point towards a large gap up for the cash market.<\/span>
\nI’m one to accept prices as is and not ask questions, but if you want to know, good economic news out of China is one reason for today’s excitement. Also the dollar is finally giving some of its recent gains back, and the euro is up.<\/span>
\nHere’s the 60-min SPX chart. Neutral…and the longer the range lasts, the more neutral it gets. Other than a quick move above 1200 and a drop back into the range, the index has traded between 1170ish and 1200 for about 7 weeks. <\/span>
\n\"\"
\nHere’s a closer look with the 15-min chart. As of now, today’s open will be near 1195…lots of resistance up there. Bearishness has grown the last couple weeks, so lots of shorts will be trapped at today’s open. If the market doesn’t drift back at some point this morning, short covering alone could push the market above the range over the next couple days.<\/span>
\n\"\"
\nI’ve been playing it safe the last couple weeks. It’s my belief trading goes in streaks. You fight to survive during the challenging times and then get aggressive when the trend is obvious. Lately I haven’t seen a reason to be aggressive.<\/span>
\nToday will be a semi important day…can the market hold most of the gap up gains? We’ll see. 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><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Wednesday. The Asian\/Pacific markets closed with solid across-the-board gains. Europe is currently posting similar gains. Futures here in the States point towards a large gap up for the cash market.<\/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\/3763"}],"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=3763"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/3763\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}