{"id":5226,"date":"2012-01-10T08:19:26","date_gmt":"2012-01-10T13:19:26","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5226"},"modified":"2012-01-10T08:19:26","modified_gmt":"2012-01-10T13:19:26","slug":"before-the-open-jan-10-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5226","title":{"rendered":"Before the Open (Jan 10)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed up across the board. China and India rallied more than 2%. Australia, Indonesia, Singapore, South Korea and Taiwan moved up more than 1%. Europe is currently up across the board. Belgium and France are up more than 2%. Germany, Amsterdam, Norway, Stockholm and London are up more than 1%. Futures here in the States point towards a large gap up for the cash market which will open things well above last week’s high.<\/span>
\nThe dollar is down. Oil and copper are up nicely. So are gold and silver.<\/span>
\nYesterday didn’t change my stance. The near term trend is up. We’ve had many very good breakouts the last couple weeks, but the risk\/reward right now is not as good as it was two weeks ago. This doesn’t mean to sell everything and go short. It just means to have a plan in place and be ready to flip the switch should the market roll over. Here’s the 30-min S&P. We have a small wedge within a larger wedge. Both have bearish implications, but the market has been quiet lately, and we’re reminded to not short a dull market. Today’s open (as of this writing) will not only be above last week’s high but also above the October high. Not bad. <\/span>
\n\"\"
\nI’m long, but I’m starting to be a little more defensive. 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