{"id":4327,"date":"2011-05-13T07:08:19","date_gmt":"2011-05-13T12:08:19","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4327"},"modified":"2011-05-13T07:08:19","modified_gmt":"2011-05-13T12:08:19","slug":"before-the-open-may-13-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4327","title":{"rendered":"Before the Open (May 13)"},"content":{"rendered":"

Good morning. Happy Friday.<\/span>
\nThe Asian\/Pacific markets closed mixed and with a bullish bias; China, Hong Kong, India and Singapore all did well. Europe is mostly up, but there are no 1% winners. Futures here in the States point towards a positive open for the cash market.
\n<\/span>
\nThe dollar is down; gold, silver and oil are up.<\/span>
\nAs I said yesterday, unless you’re a pretty good short term trader and have stomach for risk, the market has been challenging lately. Over the last 10 days, 5 have been up and 5 down and the net change has been small. Each rally has gotten sold and each dip bought. <\/span>
\nOn Tuesday I said the rest of the week would go a long way hinting at the movement of the foreseeable future. Since then we’ve gotten one down day and one up day, so the picture remains cloudy. A good day today would create some pretty good looking charts into the weekend. A bad day would do the opposite. When the near term is that fragile – when one day can make the charts either look good or bad – we should wait until the market shows its cards before committing much money. <\/span>
\nHere’s the 60-min S&P. Purely from a charting standpoint, there’s nothing terribly wrong with this chart.<\/span>
\n\"\"
\nMore after the open.<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nyesterday’s sector performance<\/a><\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n