{"id":4813,"date":"2011-08-29T07:16:27","date_gmt":"2011-08-29T12:16:27","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4813"},"modified":"2011-08-29T07:16:27","modified_gmt":"2011-08-29T12:16:27","slug":"before-the-open-aug-29-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4813","title":{"rendered":"Before the Open (Aug 29)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Monday. I hope you had a nice weekend.<\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed mostly up. India rallied 3.6%; South Korea moved up 2.8%; several others gained more than 1%, but China dropped 1.4%. Europe is currently up across the board&#8230;better-than 1% gains are being posted. Futures here in the States suggest a solid gap up for the cash market.<!--more--><br \/>\n<\/span><br \/>\n<span style=\"font-size: medium;\">The market broke its 4-week losing streak last week with a solid up move. But overall the trend is down, and over the last month, the price action is neutral (a lower high and higher lows is in place). A lot of bad news has been abosrbed, so assuming the current price is the &#8220;correct&#8221; price based on the news already released, if good news comes out or if the negative news flow dries up, an upside pop is doable. That&#8217;s where I lean as we head into the new week (I stated it at the end of last week and over the weekend). This will be the second attempt at recapturing some of those early-Aug losses, so I think the odds are greater it happens. And the great number of false breakdowns adds to this analysis. <\/span><br \/>\n<span style=\"font-size: medium;\">Here&#8217;s the 30-min S&amp;P chart. The overall picture is definitely bearish, but short term I lean to the upside. Be flexible and don&#8217;t fight it. The biggest up moves occur within downtrends, and the direction of the market is never one-sided. There could be bounces that last several weeks. If you&#8217;re bearish, these bounces are gifts&#8230;assuming you&#8217;re not &#8220;all in&#8221; on the short side and you still have money to add to shorts. More after the open.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spx082911.png\" alt=\"\" \/><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;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=4809\">Earnings<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=4811\">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 Monday. I hope you had a nice weekend. The Asian\/Pacific markets closed mostly up. India rallied 3.6%; South Korea moved up 2.8%; several others gained more than 1%, but China dropped 1.4%. Europe is currently up across the board&#8230;better-than 1% gains are being posted. Futures here in the States suggest a solid [&hellip;]<\/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\/4813"}],"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=4813"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/4813\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}