{"id":3948,"date":"2011-01-27T08:21:51","date_gmt":"2011-01-27T13:21:51","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3948"},"modified":"2011-01-27T08:21:51","modified_gmt":"2011-01-27T13:21:51","slug":"before-the-open-jan-27-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3948","title":{"rendered":"Before the Open (Jan 27)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed mixed – China gained 1.5%. Europe is currently mixed with an upward bias. Futures here in the States point towards a slight gap up open for the cash market.<\/span>
\nThe State of the Union is done. The Fed is done. The market’s reaction has been the same as it’s been for everything else the last month – slowly grind up. So far Jan has seen more up days than down days, but the bulls are not dominant. They’re just barely winning, and the net result is a decent gain. Many indicators are still at levels that suggest some sort of pullback is needed, and there remains a few divergences (large caps vs small caps for example) that would argue for the same path. But here we are – the Dow and S&P made new highs yesterday. <\/span>
\nHere’s an updated version of the 60-min S&P chart. I personally have lightened up on my longs, but I have no idea in the world why anyone would go short and guess a top. One of these days the bears will be right, but they’ve been wrong so many times, they won’t have much money left when a correction does indeed play out.<\/span>
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\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