{"id":3922,"date":"2011-01-18T08:13:15","date_gmt":"2011-01-18T13:13:15","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3922"},"modified":"2011-01-18T08:13:15","modified_gmt":"2011-01-18T13:13:15","slug":"before-the-open-jan-18","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3922","title":{"rendered":"Before the Open (Jan 18)"},"content":{"rendered":"

Good morning. Happy Tuesday. Hope you enjoyed your long weekend.<\/span>
\nThe Asian\/Pacific markets closed mixed and with a slight bullish bias. Europe is up solidly across the board – there are several 1% winners. Futures here in the States are flat relative to last Friday’s close.<\/span>
\nWe are halfway through January, and so far, so good. If the first week of January is a good predictor of the rest of the month and the entire month is a good predictor of the rest of the year, things are looking good. Personally, even if such ‘tells’ exist, I do not under any circumstance blindly follow them. In fact I don’t even pay much attention to them regardless of what historical facts says. <\/span>
\nOn Friday everything closed at a new closing high, so those who have bought and held in an attempt to milk this move for everything it’s worth are in a good situation here. Those who’ve tried picking a top and have been in denial are once again getting crushed. Having said this, I’m staying on my toes. The S&P has been up 7 straight weeks and has spent more consecutive days above its 10-day MA than any time in history. We know the Fed is providing a little support for the market, but eventually that’ll go away and profit taking will kick in. I’m long but not exactly sitting back and allowing myself to feel comfortable.<\/span>
\nHere’s the S&P daily. A line drawn through the last two highs suggests we may have resistance just over head.<\/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