{"id":5196,"date":"2012-01-02T08:32:02","date_gmt":"2012-01-02T13:32:02","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5196"},"modified":"2012-01-02T08:32:02","modified_gmt":"2012-01-02T13:32:02","slug":"before-the-open-jan-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5196","title":{"rendered":"Before the Open (Jan 2)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Monday. Happy New Years. <\/span><br \/>\n<span style=\"font-size: medium;\">Most of the Asian\/Pacific markets were closed today. Of the ones open, none moved more than 1%. Most of Europe on the other hand is open and posting decent gains. Austria and Germany are up more than 2%. Belgium, France and Stockholm are up more than 1%. Futures here in the States point towards a flat open for the cash market.<!--more--><br \/>\n<\/span><br \/>\n<span style=\"font-size: medium;\">There are reasons to expect today to be slow, but you never know. With so many overseas markets being closed and many people having today off work, today may be an extension of last week&#8217;s relatively slow, range-bound movement. Plus many traders will be more focused on the bowl games than their computer screens. Gambling on trading floors is very prevelant. <\/span><br \/>\n<span style=\"font-size: medium;\">There are reasons to be bullish and reasons to be bearish heading into the new year. <\/span><br \/>\n<span style=\"font-size: medium;\">The biggest reason to be bullish is simply because the market didn&#8217;t drop in 2011. It was thrown a massive amount of negative news, and in the end, after it had many excuses to fall apart, it was flat. Rallying or holding up in the face of bad news is a good sign. On the flip side, the situation in Europe is still on the front page, the wrong stocks and groups are leading the market and the small caps are lagging. Something has to give. <\/span><br \/>\n<span style=\"font-size: medium;\">The S&amp;P closed Friday at 1257.60. If we were to get some movement, my upside target is 1270, and my downside is the 1235-1240 range. Here&#8217;s a short term chart.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spx010212.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">Volume was light last week and it&#8217;ll be light today. Real trading starts tomorrow. More after the 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;\">headlines at <a href=\"http:\/\/www.marketwatch.com\/story\/newsviewer\">MarketWatch<\/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=5191\">Earnings<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=5193\">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 Monday. Happy New Years. Most of the Asian\/Pacific markets were closed today. Of the ones open, none moved more than 1%. Most of Europe on the other hand is open and posting decent gains. Austria and Germany are up more than 2%. Belgium, France and Stockholm are up more than 1%. Futures [&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\/5196"}],"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=5196"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/5196\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}