{"id":4076,"date":"2011-03-10T08:38:20","date_gmt":"2011-03-10T13:38:20","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4076"},"modified":"2011-03-10T08:38:20","modified_gmt":"2011-03-10T13:38:20","slug":"before-the-open-mar-10-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4076","title":{"rendered":"Before the Open (Mar 10)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed down across the board. Australia, China, Japan and Taiwan each lost more than 1%. Europe is currently mostly down. Losses are less than ia Asia. Futures here in the States point towards a down open for the cash market. <\/span>
\nYou see what I see. The market is working on a second consecutive inside week, and we’ve already gotten two consecutive inside days. Needless to say, pressure is building, and a quick move in either direction should play out soon. A solid up day today would put the indexes back at their highs. A solid down day would put them near 5-week lows. The overall trend remains up, but near term, anything goes.<\/span>
\nHere’s the daily S&P chart. If all you knew was this chart, you couldn’t be anything but bullish. Yeah the volume has been heavier on down days than up days, so a little caution would be warranted, but otherwise, based on this chart alone, it would be hard to be anything but bullish.<\/span>
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\nThe wild card right now is Saudi Arabia. There are planned protests in the country tomorrow which will be middle of the night here in the States. Absent a big move today that seems to start the market’s next leg, it wouldn’t be a bad idea to scale back today.<\/span>
\nFor those of you who trade the eminis, today is rollover day.<\/span>
\nMore 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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