{"id":5010,"date":"2011-11-08T08:34:57","date_gmt":"2011-11-08T13:34:57","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5010"},"modified":"2011-11-08T08:34:57","modified_gmt":"2011-11-08T13:34:57","slug":"before-the-open-nov-8-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5010","title":{"rendered":"Before the Open (Nov 8)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mixed and perhaps with a bullish bias. Only Japan (down 1.3%) moved more than 1%. Europe is currently posting solid, across-the-board gains. France, Germany and Amsterdam are up more then 2%. Most of the other indexes are up more than 1%. Futures here in the States point towards a moderate gap up open for the cash market. On top of yesterday’s small gains, this will put the market at a 1-week high.<\/span>
\nTechnically the market remains in good shape. The indexes broke out two weeks ago from their Aug\/Sept ranges, and after running a little higher, shifted into consolidation mode. There has been nothing wrong with the movement. The market isn’t going to go straight up uninterruptedly, so there should be no surprise we had a couple down days and some choppy trading. Absent news, odds favor the indexes legging up again, but we don’t live in a world that is absent news. Greece is moving over and Italy is now taking the top headline stories. In fact the first 4 stories listed on Yahoo Finance cover Italy. Here we go again. I continue to favor the upside, but being super aggressive isn’t wise because at any time, the market could gap down huge. <\/span>
\nHere’s the 30-min SPX chart since early October. The trend remains up – albeit at a shallower slope – and we possibly have a falling wedge resolving up.<\/span>
\n\"\"
\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