{"id":4121,"date":"2011-03-24T07:18:08","date_gmt":"2011-03-24T12:18:08","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4121"},"modified":"2011-03-24T07:18:08","modified_gmt":"2011-03-24T12:18:08","slug":"before-the-open-mar-24-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4121","title":{"rendered":"Before the Open (Mar 24)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed mostly up. There were a few 1% winners. Europe is up across the board. Half the markets are up at least 1%. Futures here in the States point towards a large gap up open for the cash market.
\n<\/span>
\nYesterday the S&P closed near its pre-earthquake level, so as of today’s open it’ll be about 10 points above that level. Not bad at all. An earthquake, a tsunami, a nuclear crisis – possibly $300B in losses and damage, and the market was able to absorb all of it. <\/span>
\nFor what it’s worth, yesterday was the first time in 8 days advancers and decliners were relatively equal. The previous 7 days saw one lead the other by at least 7-to-3.<\/span>
\nI’ve been saying for a couple days I’m getting less and less interested in shorting a bounce. A week ago I though for sure I’d be shorting a light-volume bounce, but this bounce has been impressive enough to neutralize the negative sentiment. It’s realistic last week’s low is the low and the Feb highs will be tested in the next couple weeks.<\/span>
\nThere’s lots of overhead resistance to deal with and bad news could provide a road block, but for now the market seems to be in pretty good shape. 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