{"id":4186,"date":"2011-04-13T07:30:33","date_gmt":"2011-04-13T12:30:33","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4186"},"modified":"2011-04-13T07:30:33","modified_gmt":"2011-04-13T12:30:33","slug":"before-the-open-apr-13-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4186","title":{"rendered":"Before the Open (Apr 13)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed up across-the-board. India gained over 2% and Singapore and South Korea rallied over 1%. Europe is also up across-the-board. There are several 1% winners. Futures here in the States point towards a large gap up open for the cash market.
\n<\/span>
\nNormally when the market consolidates within an uptrend as it did last week, charts set themselves up for another push upward. This was not the case last week. Instead many charts deteriorated, and we’ve seen the results this week. Many individual stocks charts have broken down the last two days, and many groups charts (tech and semis for example) are breaking down. After yesterday’s close, the most bullish thing I could say was that many sources have either turned bearish or are considering it. <\/span>
\nAs of now, today’s open will be above yesterday’s high. Absent an intraday drop, yesterday’s candle may be an isolated island that doesn’t overlap its previous or following day. <\/span>
\nOverall I’d still consider the trend to be up, but short term, as I stated over the weekend when I didn’t post many new set ups, things aren’t so clear. Last week was tough because the indexes grinded in a tight range. This week hasn’t been much easier because from Monday’s early-morning high to Tuesday’s early-morning low, the S&P dropped 25 points. Now, thanks to today’s gap up, half those losses will be recovered. Most who went short early yesterday will be sitting on losses at today’s open. Be conservative. The near term is unclear. 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