{"id":4345,"date":"2011-05-17T07:13:04","date_gmt":"2011-05-17T12:13:04","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4345"},"modified":"2011-05-17T07:13:04","modified_gmt":"2011-05-17T12:13:04","slug":"before-the-open-may-17-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4345","title":{"rendered":"Before the Open (May 17)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mixed. Europe is currently mostly down with moderate losses. Futures here in the States point towards a flat and mixed open for the cash market.
\n<\/span>
\nAfter two weeks of consolidation, the market took a big dump yesterday. The Nas and Russell have clearly broken down from their triangle patterns; the Dow and S&P are sitting right near support. I think the Russell is salvageable; the Nas on the other hand is broken and absent a surprise outside force, will go lower and fill the gap from last month. Large cap tech stocks such as AMZN, AAPL, GOOG, MSFT and CSCO all got hit hard yesterday. Even mid cap techs such as NFLX and PCLN took big hits. Only INTC looks good. The market will not go up without broad participation among these stocks. <\/span>
\nHere’s an update of the 60-min charts. Dips are shortable until at least those April gap ups fill…or until we get a total washout from the breadth indicators. More after the open.<\/span>
\n\"\"
\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