{"id":4485,"date":"2011-06-16T07:27:19","date_gmt":"2011-06-16T12:27:19","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4485"},"modified":"2011-06-16T07:27:19","modified_gmt":"2011-06-16T12:27:19","slug":"before-the-open-jun-16-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4485","title":{"rendered":"Before the Open (Jun 16)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed with stiff across-the-board losses. Europe is currently suffering the same. Futures here in the States point towards a moderate gap down open for the cash market which will open the S&P below yesterday’s low. <\/span>
\nThe situation in Greece continues to weigh on things, and I don’t think it’s too far-fetched to conclude the market will not move up until a resolution is achieved. Wall St. is good at dealing with bad situations, but it doesn’t like dealing with uncertainty.<\/span>
\nOne positive yesterday was the movement of the Russell 2000 vs. the S&P 500. The Russell tends to lead in both directions. If the SPX makes a lower low, but the Russell does not, it’s a good sign. If the SPX makes a higher high, but the Russell does not, it’s a bad sign. Yesterday the SPX made a lower low, but the Russell held up. This type of positive divergence takes several days to fully play out, so the Russell could make a new low today and negate the divergence but at least it’s a step in the right directions.<\/span>
\nHere’s the chart from August 2010…<\/span>
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\nAnd here’s the chart from November 2010…<\/span>
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\nAnd here’s today’s chart…<\/span>
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\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>
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