{"id":3940,"date":"2011-01-24T08:23:12","date_gmt":"2011-01-24T13:23:12","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3940"},"modified":"2011-01-24T08:23:12","modified_gmt":"2011-01-24T13:23:12","slug":"before-the-open-jan-24","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3940","title":{"rendered":"Before the Open (Jan 24)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets closed mixed – nothing moved 1%. Europe is currently mostly down, but there are no big losers. Futures here in the States point towards a flat open for the cash market.<\/span>
\nTo quickly reiterate what I said over the weekend, anything goes here. While the overall trend remains up, the short term is not as obvious as it’s been and the technicals are not as meaningful or helpful as they typically are. There are lots divergences and warnings signs that suggest a correction should play out soon, but those same clues have been in place for a month. If the market finally decided to drop, you can hardly say it was because of the indicators.<\/span>
\nHere’s the 60-min SPX chart. One semi stiff down day last Wednesday has not changed the overall picture, and there is room to move down 30ish points and hold the longer term support line.<\/span>
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\nThat’s it for now. After writing a lengthy report and recording my thoughts in a 7:50 video this weekend, I don’t have anything new to add. 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>
\n