{"id":3816,"date":"2010-12-16T08:28:20","date_gmt":"2010-12-16T13:28:20","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3816"},"modified":"2010-12-16T08:28:20","modified_gmt":"2010-12-16T13:28:20","slug":"before-the-open-dec-16-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3816","title":{"rendered":"Before the Open (Dec 16)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Thursday.<\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed mixed. Europe is currently mostly down. Futures here in the States are flat.<!--more--><\/span><br \/>\n<span style=\"font-size: medium;\">The indexes were near new highs soon after the FOMC announcement two days ago and have stair stepped down since. The selling hasn&#8217;t been overly intense. A top-down approach says the market is in good shape. The index charts look just fine and aren&#8217;t offering any warnings of an impending top. A bottom-up approach tells a slightly different story. Many leading stocks are no longer leading, and the AD lines tell us less stocks are participating in this Dec rally than the Sep\/Oct rally. Short term you could argue for a little backing and filling, but my intermediate term bias remains firmly up.<\/span><br \/>\n<span style=\"font-size: medium;\">Here&#8217;s an update of the 15-min SPX chart. It dropped to my first target (1235ish) yesterday and could be considered in a falling wedge. Should 1235 give way, my next target becomes 1225.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spx121610.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">Tomorrow is quad witching&#8230;lots of forces pushing and pulling in different directions. More after the open.<\/span><br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">today&#8217;s <a href=\"http:\/\/briefing.com\/Investor\/Public\/Calendars\/UpgradesDowngrades.htm\">upgrades\/downgrades<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=3793\">Earnings Reports<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=3795\">Economic Numbers<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Thursday. The Asian\/Pacific markets closed mixed. Europe is currently mostly down. Futures here in the States are flat.<\/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\/3816"}],"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=3816"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/3816\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}