{"id":5177,"date":"2011-12-28T08:29:38","date_gmt":"2011-12-28T13:29:38","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5177"},"modified":"2011-12-28T08:29:38","modified_gmt":"2011-12-28T13:29:38","slug":"before-the-open-dec-28-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5177","title":{"rendered":"Before the Open (Dec 28)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mostly down, but there were no standouts. No index moved more than 1%. Europe is currently mostly up – there are no big movers there either. Futures here in the States point towards a positive open for the cash market.
\n<\/span>
\nThe dollar is flat. Oil is down slightly; copper is up. Gold and silver are down small amounts. <\/span>
\nHere’s the 60-min S&P chart. The index is above the 1260 level which separates the two main ranges. Too bad volume is so light, and there hasn’t much enthusiasm behind the movement the last week. There’s an old saying: Don’t short a dull market. Today’s market is dull, so we don’t want to short this, but I don’t entirely trust it either. Don’t get lazy or complacent. I’m not predicting it’s going to turn around soon, just saying if it does, the market can fall apart fast.<\/span>
\n\"\"
\nAside from the light volume and lack of force, in most cases, the wrong groups are leading. Consumer staples, health care and utilities are all doing well. Energy, financials and tech are lagging. This isn’t a good recipe for a sustained rally. I’ll send out a report after the close covering this. <\/span>
\nThe near term trend is up, but I’m not completely trusting it. More after the open.<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\nheadlines at MarketWatch<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n