{"id":3897,"date":"2011-01-10T08:33:42","date_gmt":"2011-01-10T13:33:42","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3897"},"modified":"2011-01-10T08:33:42","modified_gmt":"2011-01-10T13:33:42","slug":"before-the-open-jan-10","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3897","title":{"rendered":"Before the Open (Jan 10)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets closed mixed, but there were some sizable losses. China dropped 1.6%, India 2.4% and Indonesia 4.2%. Europe is down across the board. Futures here in the States indicate relatively large gap down for the cash market. This comes off a week the market closed up and in the middle of its intraweek range but felt kind of weak.<\/span>
\nHere’s the 60-min SPX. You can’t argue with the trend, but with the great number of warnings signs and the fact that the S&P has gone 27 straight days without dropping 0.5%, you gotta think we’re due for a surprise move down. I don’t trade off such thoughts (which means I’m not short), but I definitely do scale back on longs and shift more into management mode rather than trade initiating mode. That’s where I’ve been for a couple weeks. <\/span>
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\nThe dollar is up this morning…there are lots of divergences…there are lots of non confirming indicators. The trend is up, but I remain in conservative mode. 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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