{"id":4662,"date":"2011-07-25T07:28:13","date_gmt":"2011-07-25T12:28:13","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4662"},"modified":"2011-07-25T07:28:13","modified_gmt":"2011-07-25T12:28:13","slug":"before-the-open-jul-25","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4662","title":{"rendered":"Before the Open (Jul 25)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets closed mostly down including China which dropped almost 3%. Europe is mostly down; losses are small to moderate. Futures here in the States point towards a sizable gap down open for the cash market.
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\nThe dollar is down slightly. Gold and silver are up better than 1%. Oil is down about 1%.<\/span>
\nHere we go. The weekend has come and gone and so far no debt ceiling resolution. Event risk right now is super high…even for day traders. At any time news could hit that pushes the S&P up or down 30 points in split second. I’d be very careful about being aggressive here. Keep stops in place.<\/span>
\nFrom a technical standpoint, the indexes are neutral when going back to the beginning of the year. We’ve had lots of up and down movement, but neither the bulls nor bears can fully take control. Rallies get sold, dips get bought and in the end the market has been range bound. On a shorter term basis, things look decent, but the indexes are close to resistance and several breadth indicators are not supporting further upside right now. Then throw in the debt ceiling talks and earnings season (news can trump the charts), and one could certainly argue to sit on the sidelines until things pass. Wall St. is on edge right now. All hands are on deck waiting, but no one knows what the news will be or when it will hit. If you plan on trading for a long time, there’s no shame in sitting and waiting until things clear up. 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>
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