{"id":4629,"date":"2011-07-18T07:19:11","date_gmt":"2011-07-18T12:19:11","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4629"},"modified":"2011-07-18T07:19:11","modified_gmt":"2011-07-18T12:19:11","slug":"before-the-open-jul-18","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4629","title":{"rendered":"Before the Open (Jul 18)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets closed mostly down, but losses weren’t great. Europe is currently down across the board – every market has lost at least 1%. Futures here in the States suggest a moderate gap down for the cash market.
\n<\/span>
\nI don’t have much to add to my weekend comments. The market needed to rest last week, and that’s exactly what it did. Most of the week’s losses came on Monday while the rest of the week was choppy and negative. Friday was a decent up day, but those gains will be wiped out at today’s open. <\/span>
\nAs of today’s open, the S&P will be close to the mid point of the most recent high and low (~ mid 1260’s to mid 1350’s). The indexes went straight up and then down and are now in no-man’s land. Charts of individual stocks improved last week. When the week began, there were virtually no good set ups to be had. Now we have some to play with, but the overall market has to cooperate. <\/span>
\nBe ready for a sudden move. The issue with the debt ceiling lingers. If it gets raised, the market will surge. If it doesn’t, the market will tank. Lots of unknown event risk. I mostly laid low last week, and that’s how I’ll start this week too. With the indexes being in the middle of their ranges, I want the market to show me more cards before I get aggressive again. More 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