{"id":5202,"date":"2012-01-04T08:20:04","date_gmt":"2012-01-04T13:20:04","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5202"},"modified":"2012-01-04T08:20:04","modified_gmt":"2012-01-04T13:20:04","slug":"before-the-open-jan-4-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5202","title":{"rendered":"Before the Open (Jan 4)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mixed. Australia rallied 2%; China dropped 1.4%. Europe is currently mostly down, but only Stockholm (down 1.1%) has moved more than 1%. Futures here in the States point towards a negative open for the cash market.<\/span>
\nAfter 3 straight down days, the dollar is up. Oil closed at a new high yesterday but is down right now. Copper is pulling back. Gold and silver are both down.<\/span>
\nThe market started off the new year with a solid up day, but unfortunately for us traders, it wasn’t very playable because all the gains came at the open. The indexes then proceeded to close in the bottom half of its intraday range and below their open. The closing numbers were good, but the intraday movement was not.<\/span>
\nSeveral groups started the process of moving through resistance, but we need follow through and some separation. One day – especially a day where prices closed well of their highs – is not enough. Here’s $BKX – it’s one of the groups that could lend a big boost to the market if it can continue up.<\/span>
\n\"\"
\nOverall I’d classify the charts as being “constructive.” That means they’re not in bull mode, but they’re doing what they need to do to lean in that direction. Absent news, my bias in the near term leans to the upside, but until the indexes can put together a solid winning streak to crush the bears and change the psychology, I’ll be skeptical. 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><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Wednesday. The Asian\/Pacific markets closed mixed. Australia rallied 2%; China dropped 1.4%. Europe is currently mostly down, but only Stockholm (down 1.1%) has moved more than 1%. Futures here in the States point towards a negative open for the cash market.<\/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\/5202"}],"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=5202"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/5202\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}