{"id":5035,"date":"2011-11-15T08:32:32","date_gmt":"2011-11-15T13:32:32","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5035"},"modified":"2011-11-15T08:32:32","modified_gmt":"2011-11-15T13:32:32","slug":"before-the-open-nov-15-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5035","title":{"rendered":"Before the Open (Nov 15)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mostly down, but only India (down 1.4%) moved more than 1%. Europe is currently down across the board. France and Austria are down more than 2%. Belgium, Germany, Amsterdam, Stockholm and London are down more than 1%. Futures here in the States point towards a sizable gap down open for the cash market. <\/span>
\nYesterday was an inside day, so besides a lower high and higher low being put in place on the daily chart, pressure is building on a shorter term basis. Here’s the daily S&P. The index has dropped consecutive days only once in the last six weeks. It will be a challenge to avoid such an occurrence today.<\/span>
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\nZooming in, here’s the 30-min. If support gets taken out, 1200 will be my target. It’s established drawing a trendline parallel to the upper trendline and through the low of the pattern above. <\/span>
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\nMy bias remains the same. The intermediate term trend is up, but there are things hovering over the market that won’t let it leg up again. Besides Europe, the Super Committee is getting headlines, and they’re not good. Even though there are many good looking patterns, I’m still playing it safe. 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>
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