{"id":4649,"date":"2011-07-22T07:17:25","date_gmt":"2011-07-22T12:17:25","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4649"},"modified":"2011-07-22T07:17:25","modified_gmt":"2011-07-22T12:17:25","slug":"before-the-open-jul-22-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4649","title":{"rendered":"Before the Open (Jul 22)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Friday.<\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed up across the board. Australia, India, Japan, Singapore and South Korea rallied more than 1%. Hong Kong gained more than 2%. Europe is currently up across the board. Gains are moderate; there are no 1% winners. Futures here in the States are flat.<!--more--><\/span><br \/>\n<span style=\"font-size: medium;\">It&#8217;s been a very good week for the market. At Monday&#8217;s open, the indexes were near the midpoint of their y-t-d range, but solid up days Tuesday and Thursday have put them much closer to the top of their ranges. On a closing basis, the S&amp;P is only 10 points from its high from two weeks ago and about 20 points from its April\/May high. That&#8217;s not bad considering the market was supposed to fall. \ud83d\ude42 <\/span><br \/>\n<span style=\"font-size: medium;\">Here&#8217;s the 15-min SPY chart I posted yesterday. It took out resistance and quickly filled the July 11 gap down. Now it&#8217;s consolidating just below the July 8 gap down.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spy072211.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">The big news out yesterday was the dollar. It got hit hard, and as we know, it&#8217;s been moving opposite the market (or the market has been moving opposite the dollar). As long as the dollar is weak, large, multinational companies will benefit from a favorable exchange rate, and since these said companies are the ones that control the indexes, the market in general should have a steady bid. <\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/usd072211.png\" alt=\"\" \/><br \/>\nOverall the market is still neutral and range bound, so don&#8217;t get too giddy about the prospects of a breakout. More after the open.<br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">today&#8217;s <a href=\"http:\/\/www.briefing.com\/investor\/calendars\/upgrades-downgrades\/\">upgrades\/downgrades<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">yesterday&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=4647\">sector performance<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=4625\">Earnings<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=4627\">Economic Numbers<\/a><\/span><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\nvar gaJsHost = ((\"https:\" == document.location.protocol) ? \"https:\/\/ssl.\" : \"http:\/\/www.\");\ndocument.write(unescape(\"%3Cscript src='\" + gaJsHost + \"google-analytics.com\/ga.js' type='text\/javascript'%3E%3C\/script%3E\"));\n\/\/ ]]><\/script><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\nvar pageTracker = _gat._getTracker(\"UA-6273151-1\");\npageTracker._initData();\npageTracker._trackPageview();\n\/\/ ]]><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Friday. The Asian\/Pacific markets closed up across the board. Australia, India, Japan, Singapore and South Korea rallied more than 1%. Hong Kong gained more than 2%. Europe is currently up across the board. Gains are moderate; there are no 1% winners. Futures here in the States are flat.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/4649"}],"collection":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4649"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/4649\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}