{"id":5021,"date":"2011-11-11T08:15:10","date_gmt":"2011-11-11T13:15:10","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5021"},"modified":"2011-11-11T08:15:10","modified_gmt":"2011-11-11T13:15:10","slug":"before-the-open-nov-11-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5021","title":{"rendered":"Before the Open (Nov 11)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Friday.<\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed mostly up. South Korea gained almost 3%, and Australia and Hong Kong moved up about 1%. India dropped 1%. Europe is up across the board. Belgium, Germany, Norway and Stockholm are each up more than 1%. Futures here in the States point towards a moderate gap up open for the cash market. <!--more--><\/span><br \/>\n<span style=\"font-size: medium;\">It&#8217;s been a busy week. There&#8217;s been lots of news for the market to digest. We got strength Monday and Tuesday&#8230;extreme selling pressure Wednesday&#8230;a little strength Thursday. And through it all the indexes are holding in a consolidation pattern and down a small amount for the week. Here&#8217;s the 30-min SPX. <\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spx111111.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">My sense is that there&#8217;s an invisible hand under the market&#8230;that if not for the financial situation in Europe, there&#8217;d be little doubt an end-of-year rally would play out. But Europe isn&#8217;t going away. Good news sparks buying; bad news selling. Over the last three weeks the market is flat. This by itself is bullish because given the horrendous news, the market should be down a bunch. The fact that it&#8217;s held up so well has to make you take notice. Maybe things do get worse in Europe and the October lows get tested. It&#8217;s always possible. But I wouldn&#8217;t get too bearish. if things are so bad, why hasn&#8217;t the market dropped yet? Here are a few charts to chew on. Have a good day. Enjoy your weekend.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/amat111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/apa111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/cbt111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/crk111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/exh111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/ggc111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/hes111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/jnpr111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/kbh111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/kra111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/mmm111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/moh111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/ph111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/ryl111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/sgy111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/swy111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/thc111011.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/unt111011.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=5000\">Earnings<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=5002\">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 Friday. The Asian\/Pacific markets closed mostly up. South Korea gained almost 3%, and Australia and Hong Kong moved up about 1%. India dropped 1%. Europe is up across the board. Belgium, Germany, Norway and Stockholm are each up more than 1%. Futures here in the States point towards a moderate gap up [&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\/5021"}],"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=5021"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/5021\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}