{"id":5223,"date":"2012-01-09T08:31:12","date_gmt":"2012-01-09T13:31:12","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5223"},"modified":"2012-01-09T08:31:12","modified_gmt":"2012-01-09T13:31:12","slug":"before-the-open-jan-9","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5223","title":{"rendered":"Before the Open (Jan 9)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets leaned to the downside. China (2.9%) and Hong Kong (1.5%) rallied while Japan, Singapore and South Korea dropped about 1%. Europe is currently mixed. Austria is down 2.1%, and there are no 1% winners. Futures here in the States are flat.
\n<\/span>
\nI don’t have anything new to add to the comments I made in the video<\/a> I posted over the weekend. The market has done well but not great, and given several indicators are at high levels and starting to curl over, the risk\/reward for new longs is not nearly as good as it was a two weeks ago. We’ve had many good breakouts recently, and you can still play breakouts – just know the market is due for a little correction, so your holding time may be less than ideal.<\/span>
\nFrom the current level (the S&P closed at 1278 on Friday), my upside target is 1290 and my downside targets are 1275, 1260, 1250 and 1240. You can see 1240 and 1290 from the following chart.<\/span>
\n\"\"
\nI think this is a big week. Traders are back from vacation, so volume and movement should pick up. The grace period surrounding the holidays is over. It’s time for the real market to show to reveal itself. 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