{"id":4041,"date":"2011-02-28T08:17:55","date_gmt":"2011-02-28T13:17:55","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4041"},"modified":"2011-02-28T08:17:55","modified_gmt":"2011-02-28T13:17:55","slug":"before-the-open-feb-28","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4041","title":{"rendered":"Before the Open (Feb 28)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets closed mixed and with an upward bias. Hong Kong gain 1.4%; South Korea lost 1.2%. Europe is currently mostly up. Futures here in the States point towards a moderate gap up open for the cash market. <\/span>
\nAfter grinding higher day after day for a long time, the market finally woke up last week. Volatility increased and so did the intraday ranges. The overall trends remain solidly up, but the short term is questionable. Here’s the 60-min SPX. It’s the same chart I posted all last week – trendlines remain identical. For what it’s worth the index has held its uptrend line. <\/span>
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\nAnd here’s the 15-min chart. The horizontal lines are what I consider to be short term support and resistance, but as of now (about 75 min before the open), the S&P is set to open slightly above 1325.<\/span>
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\nNews will dictate what happens next. If Wall St. doesn’t think Libya is a big deal, it could be onward and upward for the indexes. But if protests spread in that area of the world, last Tuesday’s selling could be just the tip of the iceberg. 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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