{"id":4995,"date":"2011-11-03T07:37:57","date_gmt":"2011-11-03T12:37:57","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4995"},"modified":"2011-11-03T07:37:57","modified_gmt":"2011-11-03T12:37:57","slug":"before-the-open-nov-3-4","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4995","title":{"rendered":"Before the Open (Nov 3)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Thursday. <\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed mostly down. Hong Kong and Japan dropped more than 2%; Indonesia, South Korea and Taiwan fell more than 1%. Europe is currently up across the board. France is up 2.4%; Austria, Belgium, Germany, Norway and Stockholm are up more than 1%. Futures here in the States point towards a moderate gap up open for the cash market.<!--more--><br \/>\n<\/span><br \/>\n<span style=\"font-size: medium;\">The Fed did their thing yesterday, and the market pretty much ignored them. They&#8217;re not front page news right now, and they&#8217;ve done a good job communicating their thoughts. Sometimes nothing major is going on in the world so less significant news items can influence prices day to day (although the trend typcially stays in place). Such isn&#8217;t the case. The financial situation in Greece and Europe is the only thing that matters. It trumps everything else, and until is cleared up, nothing else matters and the market will be held hostage. A big gap up or gap down can come on any day. Trading is rarely easy, but it&#8217;s not terribly hard if you trade good set ups under very good conditions (conditions are almost never perfect). Right now conditions are not good. There are too many headwinds. Here are the 60-min charts I&#8217;ve been posting for the last month. The Dow got rejected by a previous support level. The Nas and S&amp;P got rejected by the July low. The Russell got turned back by the June low (it was the only index not able to climb back into its Jan-Jul range).<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/index60110311.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">Jobs report comes out 60 min before tomorrow&#8217;s open.<\/span><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=4984\">Earnings<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=4986\">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 Thursday. The Asian\/Pacific markets closed mostly down. Hong Kong and Japan dropped more than 2%; Indonesia, South Korea and Taiwan fell more than 1%. Europe is currently up across the board. France is up 2.4%; Austria, Belgium, Germany, Norway and Stockholm are up more than 1%. Futures here in the States point [&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\/4995"}],"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=4995"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/4995\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}