{"id":3991,"date":"2011-02-11T08:33:51","date_gmt":"2011-02-11T13:33:51","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3991"},"modified":"2011-02-11T08:33:51","modified_gmt":"2011-02-11T13:33:51","slug":"before-the-open-feb-11-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3991","title":{"rendered":"Before the Open (Feb 11)"},"content":{"rendered":"

Good morning. Happy Friday.<\/span>
\nThe Asian\/Pacific markets closed mixed, but the downside movers were bigger than the gainers. Europe is currently mostly down, but losses aren’t great. Futures here in the States point towards a gap down open for the cash market.
\n<\/span>
\nIf the futures hold, it’d be the third straight day the market has opened weak. The bulls stepped up the first two by buying intraday weakness to prevent full blown sell-offs. In fact each day saw buying into the close to paint the final numbers “not bad” or “pretty good” rather than “weak.” The question is whether they’ll do it again today. How many times will the bulls buy the market into the close only to wake up the next morning and see their gains wiped out? It’s Friday. Will the bulls finally step aside because they’re getting a little nervous?<\/span>
\nHere’s an update of the 15-min S&P chart. I’ve called the slanted trendline meaningless and have been proven correct with that label. My 1310 target was missed by 2 points yesterday – good enough. Now we’ve essentially had 4 days of range bound movement, and today’s open will be near the middle of the range. I think today will go a long way towards suggesting trader sentiment into next week.<\/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