{"id":4132,"date":"2011-03-29T07:20:41","date_gmt":"2011-03-29T12:20:41","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4132"},"modified":"2011-03-29T07:20:41","modified_gmt":"2011-03-29T12:20:41","slug":"before-the-open-mar-29-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4132","title":{"rendered":"Before the Open (Mar 29)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mixed; there were no standout winners or losers. Europe is currently mostly down; there are no 1% losers. Futures here in the States point towards a small gap up open for the cash market.
\n<\/span>
\nHeading into this week I was looking for a little give back. My breadth indicators had reached levels not seen in a couple months, and volume on the move up was too light to suggest stocks were aggressively being bought up. Yesterday was mostly a dull day until the last 20 minutes when the bottom fell out. The closing numbers weren’t bad, but I didn’t like the end-of-day selling. If the market had drifted down all day, fine. But selling off into the close is a little odd. Let’s see if the market can right itself thereby shrugging off the selling pressure. Or maybe the selling pressure was a hint of things to come.<\/span>
\nHere’s the 60-min S&P chart…nice 70-point move, but now the index contends with lots of overhead supply in the form of traders\/investors wanting to get out even. <\/span>
\n\"\"
\nThe recent move up was enough to neutralize the negative sentiment. Now the market needs some time off before attempting to move up again…if it wants to move up again. The next couple days will go a long way offering hints of the next few weeks.<\/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