{"id":4833,"date":"2011-09-07T07:20:46","date_gmt":"2011-09-07T12:20:46","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4833"},"modified":"2011-09-07T07:20:46","modified_gmt":"2011-09-07T12:20:46","slug":"before-the-open-sep-7-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4833","title":{"rendered":"Before the Open (Sep 7)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed with solid across-the-board gains. Australia, Indonesia, Japan, Singapore, South Korea and Taiwan gained more than 2%. Europe is currently posting similar gains. Belgium, France, Germany and Stockholm are leading the way. Futures here in the States point towards a moderate gap up open for the cash market.
\n<\/span>
\nThe reason for the buying interest? The German Constitution Court essentially ruled Germany can participate in eurozone bailouts. This of course lessons the odds Greece or another country will go belly up.<\/span>
\nHere’s an update of the 60-min S&P chart I posted yesterday (the trendlines have not changed). The bottom of the pattern has held, and as of now today’s open will be somewhere near yesterday’s high. <\/span>
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\nThe market didn’t do too badly yesterday. Considering the bloodbath that took place in Europe on Monday, the performance was encouraging. The overall trend remains down, and I continue to believe lower prices are coming sooner or later. But hats off to the bulls. They’re hanging in there. Twice the market has made a higher low. <\/span>
\nCharts of individual stocks are messy. I don’t see many good set ups (from a chart pattern standpoint). This isn’t a big surprise considering the movement over the last month…down, up, down, up, down and now up. Trading is hard when you get such inconsistent movement…much easier when there is a steady wind at your back. If you’re a good short term trader, go for it. If you don’t have those skills yet, there’s nothing wrong watching and waiting for better opps. More after the open.<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n