{"id":5229,"date":"2012-01-11T08:33:54","date_gmt":"2012-01-11T13:33:54","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5229"},"modified":"2012-01-11T08:33:54","modified_gmt":"2012-01-11T13:33:54","slug":"before-the-open-jan-11-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5229","title":{"rendered":"Before the Open (Jan 11)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mixed and with a bullish slant. Only Singapore (up 1%) moved more than 1%. Europe is almost entirely down. Amsterdam is down 1%. Futures here in the States are down.
\n<\/span>
\nHere’s an update of the 30-min SPX chart I posted yesterday. Allowing for a little wiggle room, the big and small wedge patterns remain in place and now the October high comes into play. This is a key place (for the S&P). The index either 1) surges upward, 2) immediately drops or 3) does a false breakout. <\/span>
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\nBut, the Nas and Russell aren’t at the same place, so there is a much less sense of urgency. The Russell is approaching its October high, but unlike the S&P, is not being squeezed by converging trendlines. The Nas is lagging and also not being squeezed. <\/span>
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\nIt’s not that something has to give, it’s that the S&P is in a place to make a solid move, but the other indexes aren’t there yet. This could lead to 4) the S&P drifting around for a few more days until the Nas and Russell line up. <\/span>
\nThe trend is up, but be on your toes here.<\/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>
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